IX. ORGANIZATION AND RULES OF EXCHANGES

Chapters in this book

1. Frontmatter I
2. PREFACE VII
3. CONTENTS IX
4. TABLES XIII
5. CHARTS XV
6. PART 1: ORGANIZATION AND OPERATION OF FUTURE MARKETS
7. I. ECONOMIC POSITION OF FUTURE TRADING 1
8. II. EVOLUTION OF FUTURE TRADING: GRAIN AND PROVISIONS 13
9. III. EVOLUTION OF FUTURE TRADING: COTTON AND OTHER COMMODITIES 35
10. IV. GRAIN MARKETING 58
11. V. COTTON MARKETING 79
12. VI. THE FUTURE CONTRACT AND ITS USE 99
13. VII. THE MARKET STRUCTURE: TRADING FACILITIES 119
14. VIII. THE MARKET STRUCTURE: BROKERS AND TRADERS 133
15. IX. ORGANIZATION AND RULES OF EXCHANGES 147
16. Χ. TRADING PROCEDURE 161
17. XI. CLEARING OF FUTURE CONTRACTS 185
18. XII. CLEARING OF FUTURE CONTRACTS (continued) 201
19. PART 2: PRICE ASPECTS AND PROBLEMS OF FUTURE TRADING
20. XIII. THE PRICE STRUCTURE 233
21. XIV. INTERRELATION OF CASH AND FUTURE PRICES 254
22. XV. DIFFERENCE SYSTEMS AND THEIR EFFECT ON FUTURE PRICES 277
23. XVI. DELIVERABLE CASH SUPPLIES AND FUTURE PRICES 306
24. XVII. MARKET OPERATIONS AND THEIR RELATION TO FUTURE PRICES 324
25. XVIII. GOVERNMENTAL REGULATION OF EXCHANGES 351
26. XIX. HEDGING 377
27. XX. HEDGING (Continued.) 397
28. XXI. THE MARKET-MAKING FUNCTION 419
29. XXII. SUMMARY AND OUTLOOK 444
30. APPENDIX A. FIRST 12 SECTIONS OF THE UNITED STATES COTTON FUTURES ACT 456
31. APPENDIX Β. THE GRAIN FUTURES ACT 462
32. BIBLIOGRAPHY 471
33. INDEX 475