Short and long of Futures Markets

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Nie-fiksie / Non-fiction: Besigheid / Business

Nie-fiksie / Non-fiction  -  Besigheid / Business
R 325
To provide an affordable academic text book that can also serve as a practical guide for the South African agricultural producers, agribusiness, speculators, students and other participants interested in derivative markets. The goal is to explain the concept and application of price risk management, hedging and other derivative instruments by means of practical South African examples in both Afrikaans and English.

The table of contents is as follows:
1. An introduction to derivative markets the origin and development thereof (locally and internationally) and the discussion of various contentious issues for example location differentials.
2. Price determination how it happens and which techniques are used in determining seasonal price ranges (fundamental and technical analysis). Import and export parity prices the determination thereof and the working of imports and exports internationally.
3. Price risk management the impact of price changes on an unhedged balance sheet.
4. Futures contracts what it is, how it works, margins, and how it can be used for both hedging and speculative reasons. Various practical examples will be used to explain the concept of hedging. Spreads will also be explained.
5. Options what it is, how it works, how the premium is determined and how to manage an option book.
6. Option pricing (Black & Scholes) and the management of the 'Greeks'
7. Option strategies (both hedging and speculation) from a straight put and call to complex strategies. Every strategy will be discussed by means of a practical example and each strategy will also show possible profit/loss scenarios.
8. Speculation. What it is, the possible return on investment and the risks associated. How risks can be management and how Safex can be used as investment opportunity.
9. Marketing plans what it is, the elements of a marketing plan, instruments available, how and when to draw up a marketing plan and how to manage it throughout the season.
10. The development and use of electronic markets in South Africa, for example electronic livestock auctions and farm auctions.
11. Other derivative instruments, for example, rainfall, temperature and diesel cost hedging.
12. How to trade. A chapter that discusses how to trade on Safex and how the simulation model works.

A computer simulation model will be included together with the text book. This simulation model enables users to track his/her profit/loss on the futures market. The simulation model will reflect all instruments traded on Safex and will be run in real-time. The JSE indicated that they are willing to provide free access to the data used by the simulation model for a time. A competition similar to Make a million is planned with the launch of the text book.
A4 240 Pages Hard cover
Publikasiedatum: 2013-02-01
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