Futures Contract

This paper examines the effects of time to maturity, volume and open interest on the price volatility of futures contracts in Turkish derivative markets. The determinant of volatility is tested using conditional variance models during the period from January 2, 2008 to June 30, 2015. The sample set consists of 457 futures contracts backed by gold, currency, indices and single stocks. Empirical results show that the time to maturity, volume and open interest significantly impact the volatility of futures contracts. It is found that as the maturity date approaches, volatility increases. Furthermore, a positive correlation is found between the price volatility of futures contracts and volume, whereas volatility and open interest are found to correlate negatively. Thus, both the Samuelson Hypothesis and the Mixture of Distributions Hypothesis are supported in Turkish derivative markets.

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The production of Never Alone (a recent video game incorporating Inupiaq narrative traditions and aesthetics) is one example of how indigenous peoples use digital technologies to spark young people’s interest in their own knowledge. Using comparative material from game players in Siberia and Alaska, this article explores interfaces between the knowledge needed to play such games and that required for hunting in real time. Combining attention to decolonizing education and new museology strategies, the authors suggest that the pedagogical impact of such games is strengthened when combined with face-to-face interactions with local knowledge holders. This, in turn, suggests the importance of recognizing the work of the museum as its capacity to animate knowledge, not simply to store it.

This paper presents the theory and practice of the Futures Action Model (FAM). FAM has been in development for over a decade, in a number of contexts and iterations. It is a creative methodology that uses a variety of concepts and tools to guide participants through the conception and modeling of enterprises, services, social innovations and projects in the context of emerging futures. It is used to generate strategic options that people can utilise to build opportunities for value creation as they move into the future. This paper details examples in its development, and provides theoretical and practical guidelines for educators and business facilitators to use the FAM system in their own workplaces.

Architecture and the arts have long been on the forefront of socio-spatial struggles, in which equality, access, representation and expression are at stake in our cities, communities and everyday lives. Feminist spatial practices contribute substantially to new forms of activism, expanding dialogues, engaging materialisms, transforming pedagogies, and projec- ting alternatives. feminist futures of Spatial Practice traces practical tools and theoretical dimensions, as well as temporalities, emergence, histories, events, durations – and futures – of feminist practices. Authors include international practitioners, researchers, and educators, from architecture, the arts, art history, curating, cultural heritage stu- dies, environmental sciences, futures studies, lm, visual communication, design and design theory, queer, intersectional and gender studies, political sciences, sociology, and urban planning. Established as well as emerging voices write critically from within their institutions, professions, and their activist, political and personal practices. feminist futures of Spatial Practice deepens and broadens how we can understand and engage with different genders, bodies and peoples, diverse voices and forms of expression, alternative norms and ways of living together. Edited by Meike Schalk, Thérèse Kristiansson, Ramia Mazé Contributions by Mariana Alves Silva, Jenny Andreasson, Nishat Awan, Katarina Bonnevier, Karin Bradley, Sara Brolund de Carvalho, Brady Burroughs, Ragnhild Claesson, Yvonne P. Doderer, Macarena Dusant, Annika Enqvist, Maryam Fanni, Liza Fior, Hélène Frichot, Katja Grillner, Ulrika Gunnarsson-Östling, Sophie Handler, Nel Janssens, Elke Krasny, Thérèse Kristiansson, Anja Linna, Nina Lykke, Helena Mattsson, Ramia Mazé, Irene Molina, Ruth Morrow, Jane da Mosto, MYCKET, Doina Petrescu, Julieanna Preston, Rehearsals (Petra Bauer, Sofia Wiberg, Marius Dybwad Brandrud, Rebecka Thor), Helen Runting, Nora Räthzel, Meike Schalk, Despina Stratigakos, Kristoffer Svenberg, The New Beauty Council, Kim Trogal, and Josefin Wangel.

This book has explored the problem of urban oil vulnerability, specifically the imperative to plan cities so that they are prepared for an era of petroleum constraint. This final chapter discusses some key major findings and conclusions from the preceding chapters along with certain “planning after petroleum” issues that were not given chapter-length coverage. The authors identify some significant future research directions that should be undertaken over the next several years to enable cities to better plan for petroleum constraint.

What does the future hold? Is the desertification of the planet, driven by state and corporate authority, the final horizon of history? Is the dystopian future implied by the systemic degradation of nature and society inescapable? From marginal activist groups to governments and interstate organizations, all appear to be concerned with what the future of our shared world will look like. Yet even amid the ongoing global crisis caused by capitalism, the potential of a different, radically rooted future has also appeared. Common Futures explores the global emergence of twenty-first-century social movements, opposed to capitalism and state authority. These movements, Yavor Tarinski and Alexandros Schismenos show, transcend traditional political forms of organization and try to form autonomous networks premised on direct democracy and solidarity. The authors identify the importance of grassroots movements, which can bring radical change and create a more democratic and ecological future. Common Futures examines the social and political roots of the environmental crisis and the relationship between ecology and direct democracy. But Tarinski and Schismenos go beyond the analysis of crises, contemporary struggles, and social movements: Common Futures also clarifies the conditions for the re-creation of free public time and space and point to practical steps that we can take to alleviate the problems of our future.

A remarkable, first-ever collection of 35 essays on India's future, by a diverse set of authors – activists, researchers, media practitioners, those who have influenced policies and those working at the grassroots. This book brings together scenarios of an India that is politically and socially egalitarian, radically democratic, economically sustainable and equitable, and socio-culturally diverse and harmonious. Alternative Futures: India Unshackled covers a wide range of issues, organized under four sections. It explores ecological futures including environmental governance, biodiversity conservation, water and energy. Next, it envisions political futures including those of democracy and power, law, ideology, and India's role in the globe. A number of essays then look at economic futures, including agriculture, pastoralism, industry, crafts, villages and cities, localization, markets, transportation and technology. Finally, it explores socio-cultural futures, encompassing languages, learning and education, knowledge, health, sexuality and gender, and marginalized sections like dalits, adivasis, and religious minorities. Introductory and concluding essays tie these diverse visions together. Most essays include both futuristic scenarios and present initiatives that demonstrate the possibility of such futures. At a time when India faces increasing polarization along parochial, physical and mental boundaries, these essays provide a breath of fresh air and hope in the grounded possibilities for an alternative, decentralized, eco-culturally centred future. The essays range from the dreamy-eyed to the hard-headed, from the provocative to the gently persuasive.

In this article we present four social cartographies with the intention to contribute to different conversations about global justice and education. The cartographies aim to invite curiosity, depth, reflexivity, openness, and the expansion of sensibilities as we engage with different analyses and possibilities for global change. We start with a review of HEADS UP, a social cartography that maps recurrent patterns of representation and engagement commonly found in narratives about poverty, wealth, and global change in North-South engagements and local engagements with diverse populations. We then describe the HOUSE, a social cartography that presents one way of diagnosing current crises and their multiple, overlapping dimensions. The third cartography, the TREE, makes a distinction between what is offered by different layers of analyses of social problems in terms of doing, knowing, and being. The last cartography, EarthCARE, is presented as a framework for global justice education, ...

— Cryptocurrency as a digital product has grown significantly. Cryptocurrency as a digital currency has been accepted by the world community, with different implementations in each country. Indonesian law regulates cryptocurrency as a commodity product that can be traded on the Futures Exchange. As a commodity, cryptocurrency monitoring is carried out by BAPPEBTI (Commodity Futures Trading Supervisory Agency). The position of cryptocurrency as a commodity is unfortunate by some, who expect cryptocurrencies to be recognized as legal tender as is the case in some countries. Securities law regulates the elements that must be met in order for an object to be recognized as a means of payment. This is also supported by current practices, namely the level of significant fluctuations in cryptocurrencies and the absence of government intervention which makes the government unable to carry out its role as controller. This study aims to determine the position of cryptocurrency in the perspec...

A remarkable, first-ever collection of 35 essays on India's future, by a diverse set of authors – activists, researchers, media practitioners, those who have influenced policies and those working at the grassroots. This book brings together scenarios of an India that is politically and socially egalitarian, radically democratic, economically sustainable and equitable, and socio-culturally diverse and harmonious. Alternative Futures: India Unshackled covers a wide range of issues, organized under four sections. It explores ecological futures including environmental governance, biodiversity conservation, water and energy. Next, it envisions political futures including those of democracy and power, law, ideology, and India's role in the globe. A number of essays then look at economic futures, including agriculture, pastoralism, industry, crafts, villages and cities, localization, markets, transportation and technology. Finally, it explores socio-cultural futures, encompassing languages, learning and education, knowledge, health, sexuality and gender, and marginalized sections like dalits, adivasis, and religious minorities. Introductory and concluding essays tie these diverse visions together. Most essays include both futuristic scenarios and present initiatives that demonstrate the possibility of such futures. At a time when India faces increasing polarization along parochial, physical and mental boundaries, these essays provide a breath of fresh air and hope in the grounded possibilities for an alternative, decentralized, eco-culturally centred future. The essays range from the dreamy-eyed to the hard-headed, from the provocative to the gently persuasive.

This paper investigates the impact of futures contracts (FC) on volatility of stock prices using firm-level data of Pakistan-Stock-Exchange (PSX) from 1999 to 2015. GARCH model is used in this paper to examine initiation of FC on volatility. The results propose that after the initiation of FC, the stock price volatility of 17 companies stabilizes, whereas the stock price volatility of four companies destabilizes and for the seven companies it does not change. Hence, on average, the findings support the stabilization hypothesis which asserts that introduction of derivatives stabilizes the market. The finding supports the theories that derivative securities expand investors' choices for investment. The results of the study encourage the investors to invest in derivatives and the regulators should encourage derivatives market as it stabilizes the volatility.

This paper argues for an ethnographic approach to developing new types of knowledge about and designing for sustainable forms of energy consumption and demand in homes. Such an approach offers: 1) in-depth insights into the sensory and usually unspoken aspects of everyday householder experiences, which are nevertheless fundamental to understanding energy consumption and demand; 2) enables new understandings of how domestic routines, habits and activities develop in relation to the contingencies of everyday life including new and emerging 'smart' technologies; and 3) has implications for how we might best design for environmentally sustainable energy use as we move on into the future. In this sense it provides understandings of the relationship between what might be technologically possible and imagined, and actual lived everyday realities. The paper will draw on examples of how this methodology was designed and applied in two discrete projects. The first is the video ethnography strand of the UK-based Low Effort Energy Demand Reduction (LEEDR) project. LEEDR was a four-year interdisciplinary EPSRC-funded project (leedr-project.co.uk), which included the production of ethnographically informed digital design interventions and the Energy and Digital Living web site (energyanddigitalliving.com). The second is an ongoing study (2015-18) on the 'automated smart home' funded by the Australian Research Council. This study involves in-home interviews, photography and tours with Australians who are living in, designing and/or building smart homes. Finally, the paper calls for further research-based interrogations of how and where energy futures figure in the imaginations of everyday domestic energy users.

Z. Sebesvari 1 , E. Foufoula-Georgiou 2 , I. Harrison 3 , E. S. Brondizio 4 , T. Bucx 5 , J. A. Dearing 6 , D. Ganguly 7 , T. Ghosh 8 , S. L. Goodbred 9 , M. Hagenlocher 1 , R. Hajra 8 , C. Kuenzer 10 , A. V. Mansur 11 , Z. Matthews 12 , R. J. Nicholls 13 , K. Nielsen 12 , I. Overeem 14 , R. Purvaja 7 , Md. M. Rahman 15 , R. Ramesh 7 , F. G. Renaud 1 , R.S. Robin 7 , B. Subba Reddy 7 , G. Singh 7 , S. Szabo 12 , Z. D. Tessler 16 , C. van de Guchte 5 , N. Vogt 17 , C. A. Wilson 18 – Belmont Forum DELTAS Project members*

The change in the significance of goods is a process that, ever since the end of the Industrial Revolution, has triggered far-reaching changes in society as the term has lost any meaning in relation to its purely functional character and increasingly come to represent symbolic and cultural contents. “Practice of Consumption and Spaces for Goods” has the aim to investigate contemporary retail spaces as complex places combining many aspects that go beyond the spatial and functional to include the physical, social, cultural, and economic.

This document is the author deposited version. You are advised to consult the publisher's version if you wish to cite from it. Published version CRABBE, Tim, BAILEY, Gavin, BLACKSHAW, Tony, BROWN, Adam, CHOAK, Clare, GIDLEY, Ben, MELLOR, Gavin, O'CONNOR, Kath, SLATER, Imogen and WOODHOUSE, Donna (2006). Knowing the score: Positive Futures Case Study Research: Final Report. Project Report. London, Positive Futures.

This multi-authored case study of three Nipmuc sites is an introductory archaeology text that includes a tribal member as one of the scholars. Collaboration between the authors over two decades is a key theme in the book, serving as a model for a primary topic of the book. Historical Archaeology and Indigenous Collaboration engages young scholars in archaeology and Native American history, teaching them about respecting and including indigenous knowledge and perspectives on colonization and indigenous identity. A key asset is access by indigenous peoples whose past is explored in this book. The case study offers an arena in which Nipmuc history continues to unfold, from the pre-Contact period up to the present, and stresses the strong relationships between Nipmuc people of the past and present to their land and related social and political conflicts over time. A double narrative approach (the authors sharing their experiences while exploring the stories of individuals from the past ...

Recent researchers found that Crude Palm Oil Futures contract (FCPO) in Bursa Malaysia Derivatives is no longer an effective hedging tool to mitigate the price risk in cash market due to the excessive speculation trading activities. This is very alarming to the hedgers hence possible hedge pair alternatives to crude palm oil physical must be identified to ensure that the hedging can be executed effectively. Therefore in this study, Ordinary Least Square, bivariate VAR and bivariate VECM were used to examine whether the non-interrelated energy futures contracts could serve as effective cross-hedging mechanisms for the CPO. Weekly data of agricultural and energy futures contracts from Intercontinental Exchange (ICE), New York Mercantile Exchange (NYMEX), and Tokyo Commodity Exchange (TOCOM) are employed to cross hedge the physical crude palm oil prices. The study starts from 2006 until 2016. Empirical results indicate that bivariate VECM gives more hedging variance reduction. Surprisi...