The FUTURES Options Market Wikispaces（期货期权市场Wikispaces）.pptx

FUTURES Options;Agenda;The Original Futures Market;Forward and Futures Contracts;Today’s Futures Market;Oversight of Futures Contracts;Who Trades Futures?;Who Trades Futures?;What are Options?;Types of Options;Options Pricing Maturity;FUTURES Options: Current Regulation;Federal Regulation;Important Historical Regulations Legislation ;Federal Regulation ;Regulating Bodies ;Regulating Bodies;Clearing Organizations ;Intermediaries;Risk-Based Tier Structure Regulations ;Excluded Commodities ;Exempt Commodities ;Agricultural Commodities ;Eligible Contract Participants ;Designated Contract Markets (DCMs) ;Exempt Commercial Markets/Electronic Trading Facilities ;Regulation of Electronic Trading Facilities/Exempt Commercial Markets ;Price Discovery, Hedging, Speculation;Speculation ;Speculation – Negative Aspects;Importance of Closing the Loophole ;Regulations ;New Regulations;Consequences for Failure to Follow Regulations ;FUTURES Options: Exchanges vs. over-the-counter Clearing Houses;Exchanges;Exchanges;Over-The-Counter Markets;Over-The-Counter Markets;Exchanges vs. Over-The-Counter;Problems with OTC Markets;The Domino Effect;Problems with OTC Markets;Market Concentration (OTC);Market Concentration (Exchange);Proposed Solution: Centralized Clearing;Types of Centralized Clearing;Types of Centralized Clearing;Types of Centralized Clearing;Policy Recommendations;Clearing Houses;Clearing Houses: Risk Minimization;Clearing Houses: Risk Minimization;Public vs. Private Clearing Houses;The Future of FO Markets;A Caveat: Where does the risk go?;Final Thoughts;FUTURES Options: The SEC and the CFTC Other Proposed Regulations;Merging the SEC and CFTC;What are the benefits of a merger?;Why shouldn’t they merge?;Will the SEC and CFTC actually merge, or is this simply coffee talk?;Regulations proposed by CFTC to regulate FO;Limits on energy futures and options;Will there be additional position limits?;H.R. 4173;H.R. 4173;H.R. 4173;Regulating the foreign exchange market;Flas