首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
Futures are used for three purposes; hedging, speculating and arbitraging. This passage is only concerned with hedging, but it s
Futures are used for three purposes; hedging, speculating and arbitraging. This passage is only concerned with hedging, but it s
admin
2013-12-25
17
问题
Futures are used for three purposes; hedging, speculating and arbitraging. This passage is only concerned with hedging, but it should be noted that speculators and arbitrageurs play a particularly important role in the market. It is largely the speculators who take on the risks that the hedgers seek to shed, while the arbitrageurs, by ensuring that futures prices constantly stay in line with other markets, give both hedgers and speculators the confidence that they are doing their deals at the right price.
The volume of deals for arbitrage and speculation purposes is much higher than that for hedging purposes. This is similar to the foreign exchange markets, where it has been estimated that, the foreign exchange business needed in any one year for commerce and tourism is all done by 11 a. m. on 2, January, while the rest of the year is taken up with speculating and arbitraging.
However, the purpose of the futures markets and what makes them different from a simple gambling ring in the eyes of the law, is to provide a service to those commercial enterprises which seek to hedge their risks. It is their money which drives much larger volume of other transactions and not the other way round.
You might have expected, as is certainly the case in most other financial markets, that big institutions would be more ready and able than small individuals to shoulder the risks involved in dealing speculatively in futures. However, futures markets are exceptional in this regard. In contrast to other financial markets, which are dominated by big institutions, or at least by fairly sizeable firms, the lifeblood of a successful futures market is its "locals"—independent firms of only a few individuals trading for their own account. It is these quick-witted, aggressive and generally rather blunt-spoken individuals, viewed usually by outsiders with the utmost mistrust, who take the risks that others use the futures market to shed, and provide the markets with the liquidity without which they would be dead. The single reason why Chicago took off as a financial futures market where others lagged behind is that the CBOT and IMM already had a large pool of locals ready to turn their hand from soya beans to long bonds and provide the new contracts with risk-taking capacity.
The best title for the passage can be______.
选项
A、What Are Futures Used for
B、Who Are the Arbitrageurs, Speculators and Hedgers
C、How to Hedge Risks
D、How to Trade in Futures Market
答案
A
解析
文章最适当的题目应选A项。
转载请注明原文地址:https://kaotiyun.com/show/IHid777K
本试题收录于:
FECT综合(现代金融业务)题库金融英语(FECT)分类
0
FECT综合(现代金融业务)
金融英语(FECT)
相关试题推荐
Jacklosthisjoblastweek.Itwasdifficultforhimtofindanother【C1】______.【C2】______toldhimthatitwaspossibletoget
Thechildrenwentintothecinemaone______another.
MarawasgoingtostaywithherfriendFannyforthreedays.Aweekbeforehertrip,shecalledFannytotellherwhenthetrain
MissLiteachesforeignstudentsChineseinalanguageschool.MissLi______foreignstudentsinalanguageschool.
talkonmodernmusic_______nextMonday.
A、Thesupermarketistoocrowded.B、Therearemanysupermarketshere.C、Look,justoverthere.C
Atalkonmodernmusic________nextMonday.
A、Itwasafailure.B、Lucyistooshy.C、Idrankalot.A
(a)writeshortnotesonthefollowing:(i)CAMEL(ii)MarketRiskExposure(iii)STET(iv)CodeofBankingPractice
Thefollowingareallstandardwithafuturescontractexcept______.
随机试题
为下列句子中划线的词释义他这个人哪,简直批评不得。
A.高压蒸汽灭菌法B.煮沸法C.灼烧法D.药液浸泡法E.甲醛蒸气熏蒸法适用于金属器械,常用于急需的特殊情况下()
FIDIC合同条件所规定的保留金的退还办法是:在签发整个工程的移交证书时,业主应退还保留金总额的一半给承包人;在签发缺陷责任期终止证书时再退还保留金总额的()。
下列属于报关员报关行为不规范而被海关记5分的情形的是()。下列关于传真机使用说明书报关的表述,正确的是()。
租赁期不满1年的进出口货物,其监管代码为( )。
2006年4月4日,张某因犯强奸罪被北京市西城区人民法院判处有期徒刑6年,附加剥夺政治权利4年;2011年2月4日张某被假释。则下列关于附加剥夺政治权利的表述,正确的有()。
下列适用顺序移动方式的有()。
有一块直角梯形形状的草地,上底与下底的长度之比为3:4。现在要扩充其面积,将上底增加了15米,下底变成以前的2倍,正好变成一个正方形。问:原来草地的面积是多少平方米?
在SQLServer2008中,设在某数据库中建有如下所示的存储过程:CREATEPROCP1@aint=20,@bchar(4)AS……设有下列调用该存储过程的语句:Ⅰ.EXECP1100,’a01’Ⅱ.EXECP1’a01
如果Cisco路由器有如下SNMP的配置:Router(config)#snmp-serverenabletrapsRouter(config)#snmp-serverhostadmin.tjut.edu.cnadmin
最新回复
(
0
)