1 Investment Student: Welcome! You are about to manage an account in the most comprehensive investment simulation available. When you register you will receive a STOCK-TRAK brokerage account with an imaginary cash balance of $10,000 to $100,000,000, 24-hour access to your account via our web page at and a toll-free telephone number for customer service. Please check with your professor for your specific STOCK-TRAK assignment, but with your account you can: * Buy, sell, trade on margin, and sell short most stocks, options, futures and mutual funds traded in the United States and Canada * Buy and sell stocks from the world s major exchanges including: - London - Bombay - Singapore - Paris - Tokyo - Mexico - Frankfurt - Korea - Brazil - Zurich - Hong Kong - Many more! * Test the various investment, portfolio, hedging, and technical trading strategies discussed in class. The STOCK-TRAK web page is easy to use for both novice and experienced traders. The page is divided into 4 main parts: MY PORTFOLIO Use this section to review your transactions, account summary, class rankings, and current open positions gain/loss TRADING PITS Use this section to place your stock, option, futures, bond, mutual fund and spot orders QUOTES Use this section to look up ticker symbols, option chains, simple and technical charts, etc. RESEARCH DESK Use this section to visit the best links on the web for stock and financial markets news and research. To register just click on the link your professor will provide for you and fill out the required information. If you have any questions please call us at TRAK. 1. TRADING DATES & INITIAL CASH BALANCE The beginning and ending dates of the trading period, the initial cash balance, the position limit rule, the volume rule and whether you are allowed to day trade are all specified by each professor. 2. TRADING TIMES & METHODS Before making any trades, you must be prepared with your username, password, and the ticker symbols of the securities. The cutoff times for US and Canadian trades is 4 p.m. ET. The cutoff times for the global exchanges is based on the closing times for each exchange. Any trade made after that time will be processed the next business day. STOCK-TRAK is not responsible for trades that are not received or are incomplete. a. WWW Home Page ( Visit our web page 24/7 to make trades, review your account activity, research stocks, obtain price quotes and charts, review your class ranking, and much more. US Stocks, options, spots, most traded futures and Canadian Stock trades made on the web will be processed at real-time price. International Stocks, and the rest of the Futures trades will be processed at prices delayed by 15 minutes. Bond and Mutual fund trades will be made at around 6:30 PM Eastern Time which is when prices on these securities are reported. b. Office Hours/Customer Service If you have questions about your account, you may call STOCK-TRAK customer service during our office hours. Hours are from 9:30 a.m. to 5:30 p.m. Eastern Time Monday to Friday.
2 3. SECURITIES THAT CAN BE TRADED STOCKS: You can buy, sell, trade on margin, and sell short all actively traded NYSE, AMEX, NASDAQ and TSX stocks (common and preferred) that are priced at $3.00 or more. You can also trade certain foreign stocks trading on exchanges such as London, Euronext, Frankfurt, Hong Kong, Taiwan, Sydney, South Korea, Mexico City, and others. These foreign stocks will be based on the currency exchange rates. Please see our web page for more information on trading foreign stocks. Also adjustments will be made for any cash dividend on stocks trading in any of the US markets. Small-cap (Bulletin Board) can be traded on the website, however Pink Sheet stocks cannot be traded; IPOs are available only when the security is available on a major stock exchange. STOCK OPTIONS: You may also buy, sell, and write most actively traded stock options listed in the major financial publications; LEAPS and options with unusual strike prices are difficult to trade because of the unusual ticker symbols. See Rule #14 for more information on stock options. MUTUAL FUNDS: All mutual funds are treated as front-load and back-load funds which means we charge commission on purchases and sales.. You can trade most mutual funds that are trading on the market. If you can get a quote on the fund from our web page, then you can trade it. Mutual fund purchases are placed in amount of money you want to spend on the position, as prices are reported only once a day at 6:30 PM Eastern Time. INDEX OPTIONS, FUTURES, FUTURES OPTIONS, SPOTS and BONDS: In addition to trading most common stocks, stock options, and mutual funds, you can also trade any of the index options, futures, futures options, and bonds that are listed in Rule #18. We have chosen the most popular (but not all) of the securities within each type of investment class. 4. TRADING TERMINOLOGY To avoid any communication problems which may occur during the trading process, refer to the following list of terms that STOCK-TRAK uses to place orders for various types of transactions. You cannot be long and short in any security at the same time. Also, if you are long 50 and wish to be short 50, you must sell to close and then make another trade to go short. STOCKS: There are four basic trades to make with stocks. They can be bought, sold, sold short, and covered. When buying a stock, you are taking a long position with the hope that the price per share will increase. Selling a stock refers to the closing of that long position. Selling short is selling a stock that you don t own with the hope that you can later buy the stock back at a lower price. When you buy the stock back to close your short position, it is called covering your short position. You cannot short against the box. OPTIONS: There are two types of placing orders on options on STOCK-TRAK. The first type is simple and it has four basic transactions. You can buy to open to take a long position in an option and then you can sell to close it. Writing an option refers to taking a short position and buying to close is the term used to close your short position in the option. It is also important to specify whether you re writing a naked or covered option. When writing a call option, it is considered naked unless a long position is held on the underlying security. Written put options are naked unless a short position is held on the underlying security. The second type of option trading is spread and is used to place two orders at the same time if you are attempting to use a strategy. FUTURES: When trading futures, you must always specify whether you are making an opening or closing transaction. For a long position, you buy to open and then sell to close. For short positions you sell to open and then buy to close. 5. PRICES, VOLUME & POSITION LIMITS Stock, option, and futures trades made on the web page will be filled at the appropriate bid/ask if quoted by the exchange. Universities approved for real-time data will get real-time bid/ask/last; all other universities will receive delayed data.. The maximum number of shares each student may trade for any security is limited to one-half of the actual volume of that security on that day. Orders are market orders, limit orders, and stop orders. Occasionally prices vary from one quote source to another, so it is strongly recommended that you use our web page to get quotes. Each student is limited to position limit set by the professor. The position limit means that you can only invest a certain percentage of your portfolio value in a single security. 6. TICKER SYMBOLS When making trades, you must know the ticker symbol of the securities to be traded. Stock ticker symbols can be found on our web page under the symbol look-up link or in The Wall Street Journal. (Most city papers show only the abbreviation of the company name, not the ticker symbol.). See Rule #14 for more information on stock option symbols. When trading mutual funds, the web page is the only source for tickers. Ticker symbols for the index options, futures, futures options, and bonds that STOCK-TRAK trades are listed in Rule #18.
3 7. COMMISSION A brokerage commission is applied to all transactions. The commission is a flat rate and is determined by your professor. The professor has the option of applying a reduced commission rate for users that exceed a certain number of trades. To find out what your commission is please go back to your portfolio summary, under my portfolio, after you register. 8. MARGIN REQUIREMENTS The default margin requirement for stock purchases and short sales is 50%. This means that for stock purchases you can borrow up to 50% of the total cost. For short sales, you must deposit an amount equal to 50% of the current market value of your short positions. The minimum stock price for buying or shorting on margin is $3.00 Starting with a default value of $100,000, STOCK-TRAK may loan you another $100,000, making your total buying power $200,000 if you are trading marginable securities. The margin requirement for writing stock options can be calculated using the following formula: MR = (Number of Option Contracts X Multiplier (default value 100) X Option Margin Requirement (default value 25%) X Current Market Price (Stock) + (100% of MV (Option)) and MV (Option) = Current Price (Option) X Number of Option Contracts X Multiplier The margin requirement for trading futures contracts ranges from $500 to $28,000 per contract. (Visit the following link for each contracts requirement: There is no margin requirement for trading futures options. Please note the values mentioned are the default values by the system, however your professor has the right to change these values and percentages. 9. INTEREST EARNED & INTEREST CHARGED Interest will be earned on all available cash balances and credited at the close of each day. Interest will be calculated using a money market rate, currently 3%. Interest will be charged at a rate of 8%. 10. CALCULATION OF EQUITY A portfolio s equity or value is calculated as follows: Cash - Debit bal. + Credit bal. + MV of long positions - MV of short positions (Debit = loan balance, Credit = short sales proceeds, MV = current market value) 11. CALCULATION OF BUYING POWER A portfolio s available buying power is calculated as follows: Equity + Cash - Debit bal.-2 x Margin Requirements When an account s buying power is negative, opening trades will not be accepted on the account the following day--students will only be able to close positions. In order to be able to purchase securities, students need to have positive buying power. 12. DISPUTES AND ERRORS Given the nature of stock price quoting services, prices may vary among sources. Due to the amount of technology involved, occasionally prices may not be available. When this occurs, transactions may be posted at the latest pricing available. If you believe an error has been made on your account, you must report it within 10 days. To report an error you could either use the contact us form on the website, or call our customer support team. When you do so, please take screen shots of what you believe to be the error and attach it to your message. The management of STOCK-TRAK has the ultimate authority to settle disputes. 13. PORTFOLIO STATEMENTS Student account statements can be accessed by students for their individual accounts and by professors for all accounts. Open positions can not be viewed as of a certain date so it is important to keep copies of any information you need on certain dates throughout the contest. STOCK-TRAK does not keep individual historical portfolio valuations. 14. STOCK OPTIONS When trading stock options remember that each option contract covers 100 shares of stock, that stock options expire on the third Friday of each month, that not all stocks have options traded on them, and that not all expiration months and strike prices are available on every stock. Long options that remain on accounts at expiration will be sold and you will receive the profit if they are in the money. Short option positions that remain on accounts at expiration will be closed out by purchasing the option contract. You must speak with a broker to exercise options. Option ticker symbols consist of the stock symbol, followed by the last two numbers of the year of expiration followed by the day of option expiration and then a letter which specifies whether the option is a call or put and which month it expires in (the following table lists all the months and the corresponding letters) and finally the strike price of the option. For example a Google call option that expires in December 2011 and has a strike price of 540 has a symbol of GOOG1116L540.
4 Expiration Month Codes Month Calls Puts Jan A M Feb B N Mar C O Apr D P May E Q Jun F R Jul G S Aug H T Sept I U Oct J V Nov K W Dec L X 15. FUTURES With your STOCK-TRAK account you can trade any of the futures listed in Rule #18. The symbols for futures contracts consist of the ticker for the commodity, the month code, and a year code. Be aware that expiration months and dates vary; see our web page for the expiration months are being offered. The month codes are as follows: Month Code Month Code January F July N February G August Q March H September U April J October V May K November X June M December Z Please see Rule #8 regarding margin requirements when trading futures. 16. NUMBER OF TRANSACTIONS The number of transactions allowed is chosen by the professor and depends on the service level you have. The number of transaction ranges from 20 trades to 300 trades. Each buy counts as a transaction and each sell counts as a transaction. 17. MISCELLANEOUS * On the last day of the trading period, portfolio liquidation is not required; open positions and rankings as well as portfolio summaries will be frozen to the values of the last day of trading. * Given the nature of internet based systems, trading may be halted from time to time due to unforeseen events. * A trade can be cancelled as long as it is open and has not been processed yet. Once a trade is processed it can not be cancelled nor reversed. Trades placed after market hours will be executed when the market re-opens. * Trading may be halted on a particular security if conditions warrant. * These rules are subject to modifications without notice. Please check the web page for updates. * STOCK-TRAK is intended to be as representative of actual portfolio management as possible; however, some requirements and transactions have been simplified. * With the use of your specified account name, you acknowledge reading, understanding, and accepting the terms of the STOCK-TRAK Portfolio Simulation as described herein. You also agree that STOCK-TRAK, its management, and its employees will not be held liable for damages of any kind that result from the use of the account.
5 18. ADDITIONAL TICKER SYMBOLS INDEX OPTIONS STOCK-TRAK trades all available Index Options on the market. It is recommended that you use the symbol look up link on the website to find options as not all websites use the same symbology following are supported. INDEX FUTURES Below are a few index futures that STOCK-TRAK trades: Dow Jones, e-mini S&P 500 (Globex), Nasdaq 100, NIKKEI 225, e-mini Nasdaq 100(Globex), Russell 2000 Mini Index, S&P 500, E-Mini Dow Jones, S&P Mid-Cap 400, E-Mini S&P Mid-Cap 400 and E-Mini S&P Small-Cap 600. FINANCIAL FUTURES Below are a few financial futures that STOCK-TRAK trades: EuroDollar, Federal Funds Rate (30 Days), T-Notes (2 year), T-Notes (5 year), T-Notes (10 year), Ultra T-Bond, T-Bond (30 year), 7 Year Interest Rate Swap, 10 Year Interest Rate Swap and 30 Year Interest Rate Swap. COMMODITY FUTURES STOCK-TRAK trades the following commodity futures: RBOB Gasoline, Ethanol, Crude Oil (Light-Sweet), Crude Oil Brent, Heating Oil, Natural Gas, Gold, High Grade Copper, Palladium, Platinum, Silver, e-mini Gold, e-mini Silver,, Soybean Oil, Corn, Oats, Rough Rice, Soybeans, Soybean Meal, Wheat, Cocoa, Cotton, Milk, Coffee, Lumber, Softwood Pulp Lumber, Orange Juice, Sugar #11, Cheese, Feeder Cattle, Cattle Live, Lean Hogs and Pork Bellies. FOREIGN CURRENCY FUTURES STOCK-TRAK trades the following currency futures (ticker): Japanese Yen (JY), Australian Dollar (AD), British Pound (BP), Canadian Dollar (CD), Swiss Franc (SF), Euro Currency (EC), US Dollar Index (DX), Brazilian Real (BR), Mexican Peso (MP), New Zealand Dollar (NE) and South African Rand (RA). FUTURES OPTIONS STOCK-TRAK trades options on most of the Futures mentioned above. The ticker symbols for futures options work differently than stock options. Please see the futures options trading pit on the web page for more information. COMMODITY SPOT CONTRACTS A spot contract is not a futures or an option; when you buy the spot contract, you are taking delivery of the actual security immediately. STOCK-TRAK trades spot contracts on most Corn, Wheat, Soy, Gold, Silver, Yen, Euro, Australian Dollar, British Pound, Canadian Dollar, Mexican Peso, Brazilian Real, and Swiss Franc. Please see the Spot Trading Pit on the web page for more information. U.S. TREASURY BONDS, STRIPS, AND CORPORATE BONDS STOCK-TRAK trades a variety of U.S. Treasury Bonds and Corporate Bonds. A complete list of the bonds traded is available at the Bond Trading Pit on the web page. Each bond has a par value of $1,000. When you buy a bond you will also be charged accrued interest, which represents the amount of interest the bond has accrued since its last coupon date. Good Luck!
The #1 portfolio simulation for university finance classes and trading rooms Featuring stocks, options, futures, bonds and mutual funds from over 30 global exchanges Used by over 1,000 professors and teachers
US EXCHANGE TRADING HOURS (All times are Chicago Time) CME GROUP INC. CBOT (www.cmegroup.com) Open Outcry -Options Only GLOBEX Agriculturals (halts 7:45am-8:30am during the wk) Corn 8:30am to 1:15pm Sun-Fri
Market Information (August 2009) This Market Information is correct at the time of publication but may be subject to change due to, but not exclusively, irregular market conditions. Other markets available
Mechanics of the Futures Market Andrew Wilkinson Risk Disclosure Options and Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading
WorldSpreads Market Information (May 2009) This Market Information is correct at the time of publication but may be subject to change due to, but not exclusively, irregular market conditions. Other markets
OAK PRICING Iowa Grain Company has made every effort to ensure the accuracy o information, but neither the firm, nor its officers, employees, or agents shall be liable to any person for any losses, damages,
The Futures Market Introduction and Mechanics (c) 2002-2013 Gary R. Evans. May only be used for non-profit educational purposes only without permission of the author. What are futures contracts? A futures
Dow Jones-UBS Commodity Index FAQ What does the Dow Jones-UBS Commodity Index track? The Dow Jones-UBS Commodity Index is an index tracking the performance of a weighted group of exchange-traded futures
Annuity Linked TVI Index Explained 1 Key Features of the Annuity Linked TVI Index The Index aims to deliver positive returns while moderating volatility regardless of market direction. The Index goal is
To Our Clients and Friends Memorandum friedfrank.com Commodity Futures Trading Commission Proposes Position Limits for Commodity Derivatives Summary The Commodity Futures Trading Commission (the Commission
Celestial Commodities Limited ("CCL") Electronic Trading Account - Hong Kong Futures and Options Trading Policy A. Account Opening 1. Individual and Joint Account 1.1 For Hong Kong residents who have not
tpsef Inc. Rulebook Appendix D tpsef Inc. Appropriate Minimum Block Sizes by Asset Class Effective November 16, 2015 ACTIVE 210687017v.1 Set forth below are the Appropriate Minimum Block Sizes published
Futures Trading: The Way to Go? Terence Lee Private Client Service 25/02/11 Disclaimer The information contained in these course materials provided is the option of the Course Trainer and not Phillip Futures.
RESEARCH AND product DEVELOPMENT Comparing E-minis and ETFs John W. Labuszewski, Research and Product Development Brett Vietmeier, Equity Products April 2009 13,000 cmegroup.com 12,000 10,000 9,000 8,000
FOREIGN EXCHANGE BASICS TERMS USED IN FOREX TRADING: The foreign exchange market is global, and it is conducted over-the-counter (OTC) through the use of electronic trading platforms, or by telephone through
Standard commissions Index Tracker CFD spreads Indextracking CFD contract details (continuous) Index Tracker Spread 1) Margin required Value of one contract 2) Trading Hours 3) US Tech 100 NAS 1.0 2% USD
RESEARCH AND product DEVELOPMENT Comparing E-minis and ETFs John W. Labuszewski, Research and Product Development Brett Vietmeier, Equity Products April 2009 13,000 cmegroup.com 12,000 1 10,000 9,000 8,000
Momentum s Hidden Sensitivity to the Starting Day Philip Z. Maymin, Zakhar G. Maymin, Gregg S. Fisher Abstract: We show that the profitability of time- series momentum strategies on commodity futures across
CME Group Options on Futures As the world s leading and most diverse derivatives marketplace, CME Group is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark
The purpose of this ebook is to introduce newcomers to the forex marketplace and CMTRADING. Remember that trading in forex is inherently risky, and you can lose money as well as make money. Manage your
The Foreign Exchange Market Role of the foreign exchange markets Foreign exchange (FX) basics» Terminology» Types of contracts Organization and institutional features» Actors - brokers, dealers» Segments
F O R E I G N E X C H A N G E B A S I C S T E R M S U S E D I N F O R E X T R A D I N G The foreign exchange market is global, and it is conducted over-the-counter (OTC) through the use of electronic trading
Advisor Guide Spring 2015 Thanks to the generous support of: Department of Commerce & Consumer Affairs Office of the Securities Commissioner www.hawaii.gov/dcca/areas/sec/ Welcome to the Hawaii Stock Market
Foreign Exchange Market: Chapter 7 Chapter Objectives & Lecture Notes FINA 5500 Chapter Objectives: FINA 5500 Chapter 7 / FX Markets 1. To be able to interpret direct and indirect quotes in the spot market
An Introduction to CME Foreign Exchange Products What Are Futures and Options? Futures contracts are standardized, legally binding agreements to buy or sell a specific product or financial instrument in
Managed Futures Funds Managed futures can generally be defined as a globally diversified basket of futures contracts which are listed on worldwide exchanges. Futures and forward contracts have a high degree
Xetra. The market. The leading trading platform for ETCs & ETNs A simple investment in commodities, volatility or currencies 2 3 Commodities can be used to reduce the volatility of a portfolio or increase
TMX TRADING SIMULATOR QUICK GUIDE Reshaping Canada s Equities Trading Landscape OCTOBER 2014 Markets Hours All market data in the simulator is delayed by 15 minutes (except in special situations as the
COMMODITY SPREAD TRADING discretionary commodity trading in different and profitable way Romana Křížová CEO, TradeandFinance.eu, s.r.o. 1 What is Spread? Often used term Used in different contexts represents
CFDs YOUR STARTER KIT Risk Warning: Forex and CFDs are leveraged products and you may lose your initial deposit as well as substantial amounts of your investment. Trading leveraged products carries a high
Section I Introduction to Futures and Options Markets Learning objectives To know major agricultural futures exchanges To see the types of commodities traded To understand common characteristics of futures
Guidelines 1. Easily getting financial data and comparables from AdvFN AdvFn is an excellent source for performing fundamental analysis on companies in the United States and Canada. One problem that arises
The Global Journal of Finance and Economics, Vol. 10, No. 1, (2013) : 1-12 TRADING STRATEGIES IN FUTURES MARKETS Ivan Francisco Julio *, M. Kabir Hassan * and Geoffrey M. Ngene ** ABSTRACT In this article,
Chapter 5 The Foreign Exchange Market Foreign Exchange Markets: Learning Objectives Examine the functions performed by the foreign exchange (FOREX) market, its participants, size, geographic and currency
CONTENTS Overview... 2 In brief here is how it works:... 2 These fully branded Trading Room Platforms offer:... 3 What Comes With The Trading Room Platform?... 3 Contest variables include:... 4 Admin Section:...
N E W Y O R K C H I C A G O L O N D O N D U B A I * T O K Y O S I N G A P O R E S Y D N E Y A D A Introductory Guide to CFDs Above all, Integrity. +44 (0) 207 170 0770 LONDON MAIN 0800 358 0864 FREE PHONE
ACTIVITY 4.1 READING A STOCK TABLE 1. Overview of Financial Reporting A wide variety of media outlets report on the world of stocks, mutual funds, and bonds. One excellent source is The Wall Street Journal,
INDEPENDENT. OBJECTIVE. RELIABLE. 1 YOU MAY KNOW MORE THAN YOU REALIZE Trading futures can be very similar to trading forex. They both trade on margin, leverage is involved, they are impacted by fundamental
Agricultural & Alternative Investment Products & Agricultural Weather OTC Ag Swap Agricultural Weather OTC Ag Swap Agricultural Weather OTC Ag Swap Fut & Opt Fut & Opt Products Fut & Opt Fut & Opt Products
The TD Bank Virtual Stock Market Game Is a free online game designed to raise financial literacy among elementary, middle and high school students. Program Guide Introduction Welcome to the TD Bank Virtual
Delivery options Originally, delivery options refer to the options available to the seller of a bond futures contract, including the quality option, the timing option, and the wild card option. Delivery
The Fundamentals and Techniques of Trading Futures Center for Futures Education, Inc. P.O. Box 309 Grove City, PA 16127 (724) 458-5860 FAX: (724) 458-5962 e-mail: info @thectr.com http://www.thectr.com
CHAPTER 3 Index, Interest Rate, and Currency Options INTRODUCTION In an effort to gauge the market s overall performance, industry participants developed indexes. Two of the most widely followed indexes
Hedging Foreign Exchange Rate Risk with CME FX Futures Canadian Dollar vs. U.S. Dollar CME FX futures provide agricultural producers with the liquid, efficient tools to hedge against exchange rate risk
Currency Futures This page intentionally left blank CURRENCY FUTURES Brian Coyle Routledge Taylor & Francis Group LONDON AND NEW YORK First published 2000 by Fitzroy Dearborn Publishers This edition published
Chapter 1.2 Currencies Come in Pairs 0 GETTING STARTED You know the advantages of trading forex, and you are excited to start trading. Now you need to learn what this market is all about. How does it work?
Introduction to Metals Futures Presented by Pete Mulmat and Dan Gramza September 25th, 2014 Disclaimer Futures trading is not suitable for all investors, and involves the risk of loss. Futures are a leveraged
FX Options OPTIONS DISCLOSURE For the sake of simplicity, the examples that follow do not take into consideration commissions and other transaction fees, tax considerations, or margin requirements, which
CFDs Information General notes i) All details are correct at time of going to press. ii) London Capital Group Ltd reserves the right, at its sole discretion, to alter the contract specifications at anytime
Review for Exam 1 Instructions: Please read carefully The exam will have 21 multiple choice questions and 5 work problems. Questions in the multiple choice section will be either concept or calculation
Stock Market Basics What are Stocks? Stock is ownership in a publicly traded company. Stock is a claim on the company s assets and earnings. The more stock you have, the greater your claim as an owner.
Extra Practice Problems Instructions: The problems are similar to the ones on your previous problem sets. All interest rates and rates of inflation given in the problems are annualized (i.e., stated as
1 CHAPTER 34 VALUING FUTURES AND FORWARD CONTRACTS A futures contract is a contract between two parties to exchange assets or services at a specified time in the future at a price agreed upon at the time
Problem 1.11. A cattle farmer expects to have 12, pounds of live cattle to sell in three months. The livecattle futures contract on the Chicago Mercantile Exchange is for the delivery of 4, pounds of cattle.
FUTURES TRADING! All About Futures & E-Mini Futures ~ what you need to know. Larry Gaines, Founder Copyright 2012 - Larry Gaines 2 Table of Contents Characteristics of Futures 3 Overview of the main futures
FUTURES SPREADS PRODUCT GUIDE 1 PRODUCT INTRODUCTION Saxo Bank offers clients online trading in Futures Spreads from the main Exchange around the world starting with Globex and rolling-out gradually to
Member s Profile Name of Stock Exchange BM&FBOVESPA S.A. Country/Region Brazil South America Name of CEO Mr. Edemir Pinto Market Capitalization (US$) 21,898,800,000.00 (as of December 30th,2013) Number
Rotman Portfolio Manager Quick Start Guide - students Build 1.00 Class Code and Password RPM Quick Start Guide for Students Fill out the box below with the information provided to you in class. Class Code
Trading Terms ARBITRAGE: The simultaneous purchase and sale of identical or equivalent financial instruments in order to benefit from a discrepancy in their price relationship. More generally, it refers
The Power of Pairs Spread Trading Stock Index Futures David Lerman, CME Group June 18, 2009 Disclaimer: Futures and options trading are speculative and involve risk of loss. The information in this seminar
Getting Started With Forex Trading: A Forex Primer Member NASD, NYSE, SIPC, and NFA 1 Important Information and Disclaimer: TradeStation Securities, Inc. seeks to serve institutional and active traders.
International Securities Trading now you can invest across the world INTERNATIONAL SECURITIES TRADING iii CONTENTS Welcome 2 Trade international securities with CommSec and Pershing 2 International trading
Trader Vic Indices Access managed futures in an innovative index format The Royal Bank of Scotland plc (RBS) is an authorised agent of ABN AMRO in certain jurisdictions and ABN AMRO is a subsidiary undertaking
Understanding Commodity Futures and Options for Producers of Livestock and Livestock Products CIS 1100 The Authors Larry D. Makus, C. Wilson Gray and Neil R. Rimbey* Introduction Risk associated with an
1 Regional Bank Regional banks specialize in consumer and commercial products within one region of a country, such as a state or within a group of states. A regional bank is smaller than a bank that operates
Section I Investing In Common Stocks A corporation is a company that is a separate legal entity owned by stockholders. In other words, the corporation functions like a single person separate from its owners
Forex Currency Pairs (Online Trading Platform Symbol) 2 Minimum Price Fluctuation Tick / Point Value Pip Value Australian Dollar / Canadian Dollar (AUDCAD# / AUDCAD ) AUD 00,000 0.0000 CAD CAD 0 Australian
Overview: Past, Present and Future Founded in 1957, the Reuters CRB Index has a long history as the most widely followed Index of commodities futures. Since 1961, there have been 9 previous revisions to
Condensed Interim Consolidated Financial Statements of Canada Pension Plan Investment Board December 31, 2015 Condensed Interim Consolidated Balance Sheet As at December 31, 2015 (CAD millions) As at December
Chapter 1 What Is a Spread? If you already know what a spread is, you may be tempted to skip this initial chapter. However, I advise against it. Besides being presented for those who know, it is presented
Commodity products Commodity Metric Conversion Guide In a world of increasing volatility, CME Group is where the world comes to manage risk across all major asset classes interest rates, equity indexes,
P R O F E S S I O N A L R E S P E C T I N T E G R I T Y D Y N A M I C E X C E L L E N C E BMD CRUDE PALM OIL FUTURES Advantage & Opportunities A BRIEF HISTORY CPO futures launched since October 1980 by