内容案例讲稿topicb.pptxVIP

ECON41415 – Derivative MarketsTopic 3b. Forward and Futures Prices;Interest rates;Forward prices and spot prices;Investment assets vs consumption assets;Consumption assets;Assumptions;Notation; e paying investment assets;No-arbitrage relationship无套利;An Arbitrage Opportunity?;Short Selling;What if short sales are not possible?; e paying investment asset;Example;Forward Price for an Investment Asset (Known Yield);Valuing Forward Contracts远期合同价值;Valuing forward contracts (cont’d);Valuation Formula;Example;Forward vs Futures Prices;Futures Prices of Stock Indices股指期货;Example;Index