Ppt on margin trading

Chapter 18. The Common Stock Market

, but the largest over 4000 companies listed mkt. value $2 trillion (2/28/03) leader in daily share volume over 500 dealers listing requirements II. Trading Mechanics types of orders short selling buying on the margin institutional trading Types of orders instructions from investors to brokers market order buy/sell order to be executed at best price -- get lowest price for buy order/


Technical Analysis & Trading

VAT included) Zero UST Financing at competitive rates: Current borrowing rate 6.50% (± Prime – 2%) Minimum Exposure per trade of R25 000 (R4 500 margin) Top 100 Shares: CFD Margin 15% Top 40 17.5% Next 60 List reset after each Quarterly futures Close out Important notes on CFD Long &/x 8 = R11 100 Exposure = 8 x 100 x R80.10 = R64 080.00 Money Management Position Size & Margin (Anglo) Assume you have a R100 000 CFD trading account You decide to buy Anglo’s at R339.05 You set a 3% stop loss at R328.88 R339.05/


October 12, 2006 1 Mexico Risk Management Conference Chicago Board of Trade Interest Rate Futures Presented by: Ted Ehret Director of Business Development.

harvest to market created supply and demand imbalances –Transportation and storage problems – Impeded trade flow between east and Midwest October 12, 2006 4 Futures Market Fundamentals The evolution/trading in 1865 –Standardized contracts –Centralized exchanges –Price discovery –Clearinghouses Margins October 12, 2006 8 Interest Rate Margins – Speculative Rates Effective October 9, 2006 www.cbot.com/marginswww.cbot.com/margins Maintenance Margin (per contract) Initial Margin Mark Up Percentage Initial Margin/


Compliance Handbook For MPSE Trading Members. Compliance requirements pertaining to members of the Exchange are given in byelaws, regulations and circulars.

of accounts VII. Banking and Demat account operations Banking and Demat account operations VIII. Dealing with clients’ funds and securities Dealing with clients’ funds and securities IX. Margin Requirements Margin Requirements X. Internet Trading Internet Trading XI. Other dealings with clients Other dealings with clients XII. Dealing with intermediaries Dealing with intermediaries XIII. Location and Operation of Terminals Location and Operation of Terminals XIV/


A robust system of portfolio margining for futures and options.

be collected by clearly specified times. Within the described system the participants are obliged to meet the margin requirements only once at the beginning of the trading day (as a result of the last clearing session). Additional calling of margin in the course of trading day is not permitted. Compliance with the requirements of regulator (Regulation of IOSCO of March 7, 1996)  In case/


 The McGraw-Hill Companies, Inc., 1999 INVESTMENTS Fourth Edition Bodie Kane Marcus 3-1 Irwin/McGraw-Hill How Securities are Traded Chapter 3.

,000/$60,000 = 41.67%  The McGraw-Hill Companies, Inc., 1999 INVESTMENTS Fourth Edition Bodie Kane Marcus 3-18 Irwin/McGraw-Hill Margin Trading - Margin Call How far can the stock price fall before a margin call? (1000P - $35,000)* / 1000P = 40% P = $58.33 * 1000P - Amount Borrowed = Equity  The McGraw-Hill Companies, Inc., 1999 INVESTMENTS Fourth Edition Bodie Kane Marcus 3-19 Irwin/


Futures markets u Today’s price for products to be delivered in the future. u A mechanism of trading promises of future commodity deliveries among traders.

u “Mark to the Market” at the close of each trading day. Margin Account Example u Initial margin$1,000 u Maintenance margin$800 u Corn contract (5000 bushels) –Day 1:Sell at 2.55 Margin Account Example DayPriceChgG/LMargin 12.54+.01+50.001050.00 22/0.23 Contract = 5,000 bushels -$1,150 Because we settled the margin account every day the broker has this amount plus at least $600 minimum margin. The remaining margin balance is returned. Futures trade example u Case 2: Prices are lower => $2.20 u Calculate /


How Securities are Traded How firms issue securities How securities are traded Trading basics Trading cost Order type Buying on margin Short sales.

zero. It serves as a cushion for the lender. Stock Margin Trading Maintenance margin: minimum percentage of margin in trading before additional funds must be put into the account Initial margin: maintenance margin when first purchasing the stock Margin call: notification from broker you must put up additional funds Margin Trading - Initial Conditions X Corp$70 50%Initial Margin 40%Maintenance Margin 1000Shares Purchased Initial Position Stock $70,000 Borrowed $35,000/


Texas Margin Tax on Business Entities. 2 Texas Margin Tax - Agenda Background Comparison to current law Detailed analysis Application and planning Financial.

Law FeatureCurrent LawNew Law RateGreater of 0.25% x capital or 4.5% x earned surplus 1% of taxable margin (0.5% of for taxpayers in retail or wholesale trade) Exemption Amount No tax due if tax less than $100 or gross receipts under $150,000 No tax due / Revenue) 99,000 (4) APPORTION TO TEXAS C TEXAS GROSS RECEIPTS GROSS RECEIPTS – ENTIRE BUSINESS 100% (5) TAXABLE MARGIN 99,000 (6) TAX RATE 1% (.5% if retail/wholesale trade) 1% (7) FRANCHISE TAX PAYABLE N/A – Tax is less than $1,000 N/A – Total revenue <=/


1 1 Ch2&3 – MBA 567 Capital Market Overview Capital Markets Debt Common stock Preferred stock Derivative securities Security Trading Trading Trading Costs.

price falls to $70 per share New Position Stock $7,000 Borrowed $4,000 Equity $3,000 Margin% = $3,000/$7,000 = 43% 36 Ch2&3 – MBA 567 Margin Trading - Margin Call Example 3.2 How far can the stock price fall before a margin call? The maintenance margin is 30%. 37 Ch2&3 – MBA 567 Short Sales Purpose: to profit from a decline in the/


The 10th African Oil & Gas Trade and Finance Conference & Exhibition Presentation to: Financing Upstream and Downstream Assets April 4, 2006.

Others Precious Metals (1 st stage) Base metals (2 nd stage) Baskets Exotics Cross- commodity Cross asset- classes MLCI North America: Delivers, markets and trades natural gas, power, weather derivatives and other energy-related commodities. Leverages base assets, wholesale trading capabilities and industry relationships to capture higher-margin opportunities Maintains long-term growth through expansion of existing business and continued new product development/


McGraw-Hill/Irwin Copyright © 2005 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 3 How Securities Are Traded.

differ for stocks and futures. Margin Trading 3-15 Maximum margin Currently 50% Set by the Fed Maintenance margin Minimum level the equity margin can be Margin call Call for more equity funds Stock Margin Trading 3-16 X Corp$70 50%Initial Margin 40%Maintenance Margin 1000Shares Purchased Initial Position Stock $70,000 Borrowed $35,000 Equity $35,000 Margin Trading - Initial Conditions 3-17 Margin Trading - Maintenance Margin Stock price falls to $60/


WHY SSFs? SSFs have fundamentally changed the landscape of derivative trading globally by allowing investors to easily and with minimum capital hedge their.

underlying stock. This futures contract gives the holder the ability to buy or sell the underlying asset at a fixed price on a future date. Being futures contracts they are traded on margin, thus offering leverage. When purchasing SSFs there is no transmission of share rights or dividends. If you hold a SSF until expiration you either have to take delivery or/


MAM5 Workshops brought to you by the JSE. Make a Million 5 Single Stock Futures (SSFs) Trading of SSFs in MAM5 SSF Trading Strategies Other cost-effective.

JSE All realised profits and losses are processed onto accounts immediately after trading – and therefore realised profits and returned initial margin will be available for trading immediately. Should positions remain open overnight, they will have produced either / Gold ETF. Go long/short in ANGSEP09 contract. Time your market entry and exit with technical trading. MAM5 Workshops brought to you by the JSE Initial Margin = R1875 Long 2 contracts = R3750 Long Open (Buy) @ 12500c MAM5 Workshops brought to you/


An Overview Of Commodities Trading Commodities markets, both historically and in modern times, have had tremendous economic impact on nations and people.

investor only has to put up a small fraction of the value of the contract (usually around 10%) as ‘margin’. In other words, the investor can trade a much larger amount of the commodity than if he bought it outright, so if he has predicted the /is at its lowest price for years.) Beginners need to first establish if they can afford to trade the commodity - if they have enough margin in their account to cover the trade, and if they can afford a sizeable move against their position. (Some traders such as Larry/


Trade-offs and Costs. I. Trade-offs and Opportunity Costs a. Trade-off=all of the alternative (other) choices in a decision  these could be clothes,

BikesTotal ProfitMarginal Benefit 30$1600(1651-1600)=$51 31$1651 9. How do we remember whether it is marginal cost or marginal benefit? Marginal cost= Marginal benefit= 10. Marginal Benefit Example: The Snickers factory makes $800 total profit when it sells 300 Snickers bars. It makes/ a good example of which of the following? a.Opportunity cost b.Experience gain c.Marginal Cost d.Denial Practice 2. If your city made a trade-off to spend $1 million on a recycling facility instead of a community college, what/


Electronic Trading Dr. Aiman H. El-Maleh Computer Engineering Department Dr. Aiman H. El-Maleh Computer Engineering Department.

Account – Cont. n Datek Online: www.datek.com www.datek.com $10 per trade (upto 5000 shares) $10 per trade (upto 5000 shares) $2000 for margin account $2000 for margin account Free real time quotes Free real time quotes n National Discount Brokers: www.ndb/real time quotes n Datek Online: www.datek.com www.datek.com $10 per trade (upto 5000 shares) $10 per trade (upto 5000 shares) $2000 for margin account $2000 for margin account Free real time quotes Free real time quotes n National Discount Brokers: www./


McGraw-Hill/Irwin Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. 3-1 How Securities Are Traded Chapter 3.

,000/$60,000 = 41.67% McGraw-Hill/Irwin Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. 3-18 Margin Trading - Margin Call How far can the stock price fall before a margin call? (1000P - $35,000)* / 1000P = 40% P = $58.33 * 1000P - Amount Borrowed = Equity McGraw-Hill/Irwin Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. 3-19/


Chapter 3 How Securities are Traded. McGraw-Hill/Irwin © 2004 The McGraw-Hill Companies, Inc., All Rights Reserved. Primary vs. Secondary Security Sales.

stocks and futures McGraw-Hill/Irwin © 2004 The McGraw-Hill Companies, Inc., All Rights Reserved. Stock Margin Trading Maximum margin is currently 50%; Maintenance margin: Margin call: McGraw-Hill/Irwin © 2004 The McGraw-Hill Companies, Inc., All Rights Reserved. Margin Trading - Initial Conditions X Corp$70 50%Initial Margin 40%Maintenance Margin 1000Shares Purchased Initial Position Stock $70,000 Borrowed $35,000 Equity 35,000 McGraw-Hill/Irwin © 2004/


1 - 1 The Economic Perspective Marginal Analysis Trade Offs & Opportunity Costs Types of Economics Economic Goals Introduction to Economics.

use of scarce resources to achieve the maximum satisfaction of economic wants. 1 - 4 The Economic Perspective Marginal Analysis Trade Offs & Opportunity Costs Types of Economics Economic Goals Economics The social science concerned with the efficient use / –Because of scarcity we make choices every day The Economic Way of Thinking 1 - 7 The Economic Perspective Marginal Analysis Trade Offs & Opportunity Costs Types of Economics Economic Goals 2. Rational Behavior –People make choices that will achieve their/


Chapter 3 How Securities are Traded. McGraw-Hill/Irwin © 2004 The McGraw-Hill Companies, Inc., All Rights Reserved. Primary vs. Secondary Security Sales.

McGraw-Hill/Irwin © 2004 The McGraw-Hill Companies, Inc., All Rights Reserved. Margin Trading - Initial Conditions X Corp$70 50%Initial Margin 40%Maintenance Margin 1000Shares Purchased Initial Position Stock $70,000 Borrowed $35,000 Equity 35,000 McGraw-Hill/Irwin © 2004 The McGraw-Hill Companies, Inc., All Rights Reserved. Margin Trading - Maintenance Margin Stock price falls to $60 per share New Position Stock $60,000 Borrowed/


Trade Margins Johan Åhman Statistics Sweden

; 223 035; 21% Total turnover: 1 054 SEK billion (≈160 USD billion) No. of enterprises: 44 000 Trade Margins Stratification and sample Aim: cover all products required by NA 4- or 5-digit NACE level Larger heterogeneous industries ->/ smaller samples Cut-off strategy – largest enterprises within each industry Trade Margins Estimation [ 27 * (1 - 0,18) = 22,14 ] etc. Trade Margins Estimation etc. Trade Margins Estimation etc. Trade Margins Variables 41 turnover variables in SBS 250 goods product groups in SNA/


© Copyright 2003. Do not distribute or copy without permission. 1 Marginal Probability Probability of a single event occurring. Event A = “price of IBM.

test for causality, let us alter our regression model as follows: The unemployment rate today… …is a function of trade six months ago. Correlation vs. Causation © Copyright 2003. Do not distribute or copy without permission. 250 Regression model Probability/ Stress appears to have a remarkably significant affect on blood pressure (p = 0.00). The results for the marginal impact of stress on blood pressure changed dramatically when we dropped Caffeine Intake from the model. Multicollinearity © Copyright 2003./


1 MINISTRY OF FOREIGN AFFAIRS OF DENMARK. Minimum clear margin for text Fixed margin Keep heading in CAPITALS The Trade Council contributes to value,

energy model to the UK and Germany Danish and American water authorities cooperating on sustainable water solutions 14 MINISTRY OF FOREIGN AFFAIRS OF DENMARK Minimum clear margin for text Fixed margin Keep heading in CAPITALS The trade council is intensifying efforts in selected areas Heightened political-commercial focus Strengthening ”Global Public Affairs” services. In 2020, GPA should account for 40% of TC’s/


Copyright 2002 Breakout Futures Trading the Risk Position Sizing and Exit Stops Michael R. Bryant, Ph.D. Breakout Futures www.BreakoutFutures.com.

Breakout Futures 4 Methods of Position Sizing Ad hoc: trade no larger than lets you sleep at night Ad hoc: trade no larger than lets you sleep at night Margin plus drawdown Margin plus drawdown Fixed Fractional Fixed Fractional Fixed Ratio Fixed /drawdown, so drawdowns can be large. Doesnt take the risk of each trade into account. Doesnt take the risk of each trade into account. Copyright 2002 Breakout Futures 9 Margin Plus Drawdown (cont.) Copyright 2002 Breakout Futures 10 Fixed Fractional Position Sizing /


SINGLE STOCK FUTURE TRADING

Enter Price (R) Example 1: Buy (Long) 1 contract @ 30 089 Trade History (ALSI Buy) Select Trade History Margin Movement Financial History (ALSI Buy) Select Financial History Margin & Brokerage R25 Margin = R28 050 Exposure = R280 500 Cost R25 per contract R10 per point 100/ Buy) Step 1 Select Direction Step 4 Click Submit Step 2 Enter Contracts Step 3 Enter Price (R) Trade History (REM Buy) Select Trade History Margin Movement Margin = R2 122 5 Contracts 5 x R2 122 = R10 610 Exposure = 5 x 100 x R131.50/


Médecins Sans Frontières / Doctors Without Borders (MSF) UK

http://www.globalonenessproject.org/sites/default/files/downloads/IAASTD%20Fact%20Sheet.pdf Food and agriculture equation Trade and markets Information and standards Supermarkets Production Land Water Inputs and transport costs Labour Technology Agrarian structure/overall base of agriculture – history of earth abuse and soil erosion. Cropped areas increasingly advancing into marginal lands prone to erosion. Poorly designed and implemented irrigation systems that cause water-logging, salinisation and /


Trade Policy: Arguments

Persistent Dumping: Domestic Monopoly Domestic monopoly is able to get Pint from the world market  Pint = minimum marginal revenue Price MC The monopolists maximizes profits by selling QD at home for price PD and QT-QD abroad for/ Brander & Barbara Spencer (1984): Tariff Protection and Imperfect Competition. In Kierzkowiski (ed.) Monopolistic Competition in International Trade. Oxford University Press Tariff to Extract Foreign Monopoly Profit Imposition of a tariff increases prices and decreases quantity →/


Topics in Environmental Economics: Taxes, Emissions Trading, and Other Topics in the Economics of Pollution Guest Lecturer: Hans Zigmund DePaul University.

relevant applications in the second half of the talk. Outline  Macroeconomics (Growth Theory)  Microeconomics Theory  Utopian Capitalist View  Cost Benefit Analysis  Adjustments at the Margin (Taxes, Subsidies, and Markets)  Microeconomics applied to policy  Kyoto Protocol  European Union Emission Trading Scheme (ETS)  Alternative International Agreements  Boulder Carbon Tax Economic Growth  Increase GDP/Capita (Economic Output)  Factors of production:  Land (L)  Labor (N)  Capital/


Appendix 1 Divisional Review. Trading margin Bidfreight – Bracing Appendix 1 2.9% Rm 3.1% Revenue11% Operating profit19% Operating margin3.1% Results.

status of national ports – major impediment ► Demand for port based services growing ► Real profit growth assured for F2008 Trading margin Bidserv – Healthy & Wealthy Results ► Fine results in particular from BidTravel, TMS, BidAir, Industrial Products, Security, TopTurf/ ► Croxley brand continues to benefit from earlier re- vamp Appendix 1 11.8% Rm 12.4% Trading margin Revenue5% Operating profit10% Operating margin12.4% Bidpaper Plus – Consolidating, for the Future Strategic imperatives & prospects/


INCREASING RETURNS TO SCALE AND IMPERFECT COMPETITION

long-run equilibrium under monopolistic competition occurs at the quantity Q1 where the marginal revenue curve mr1 (associated with demand curve d1) equals marginal cost. At that quantity, the no-trade price PA equals average costs at point A. In the long-run/40 Quantity Imperfect Competition with Homogeneous Products: The Case of Dumping Trade Equilibrium in the Home Market Foreign has an incentive to export to Home (since price is still above marginal cost and doing so depresses price for the other firm). /


Chapter 6 Economies of Scale, Imperfect Competition, and International Trade Prepared by Iordanis Petsas To Accompany International Economics: Theory and.

competition model Dumping model Copyright © 2003 Pearson Education, Inc.Slide 6-4 Economies of Scale and International Trade: An Overview  Models of trade based on comparative advantage (e.g. Ricardian model) used the assumptions of constant returns to scale and/order to sell an additional unit of output the firm must lower the price of all units sold (not just the marginal one). The Theory of Imperfect Competition Copyright © 2003 Pearson Education, Inc.Slide 6-10 The Theory of Imperfect Competition /


International Economics: Theory and Policy, Sixth Edition

a market in which a firm faces no competition. . The Theory of Imperfect Competition Monopoly: A Brief Review Marginal revenue The extra revenue the firm gains from selling an additional unit Its curve, MR, always lies below /justify protectionism. Temporary protection of industries enables them to gain experience (infant industry argument). . External Economies and International Trade Dynamic Increasing Returns (slide 59 continued) Learning-by-doing example: Liberty ships 1941-1944, US produced 2,500 /


Livestock Gross Margin (LGM) For Cattle By Duane Griffith April 2008 Risk Management Agency.

Monthly Thereafter LGM Cattle Overview LGM Pays At The End Of 11-month Period If Gross Margin Guarantee – Actual Gross Margin > 0 Gross Margin Values Determined From Futures Markets, And State & National Agricultural Statistics Service Data Actual Price / (Definitions)] © 2006 NCISLGM 75 Definitions (Actual) Actual Cattle Price Simple Avg. Daily Settlement Prices Last 3 Trading Days Prior To CME Live Cattle Contract Expiration Date One-half The Average Of Immediately Surrounding Months When Marketings Fall/


Trade data for GTAP 5 Robert A. McDougall. April 12-14, 2000Advisory Board Meeting2 Problems with services trade source data one-time only; not updated.

locally to 211 countries FOB value $5.0t, up 12% from GTAP 4 $4.6t April 12-14, 2000Advisory Board Meeting7 Non-margin services trade constructed locally from an intermediate services trade data set trade value by commodity, source, destn extend services trade data set from 109 to 211 countries in extending, value rises from $635b by 11% to $711b April 12-14, 2000Advisory Board/


Ec 335 International Economics and Finance

efficient because average cost decreases as output Q increases: internal economies of scale. Fig. 2: Average Versus Marginal Cost Monopolistic Competition Monopolistic competition is a model of an imperfectly competitive industry which assumes that Each firm / geography refers to how humans transact with each other across space, including through international trade and interregional trade. Summary (cont.) Trade based on external economies of scale may increase or decrease national welfare, and countries may/


International Economics: Theory and Policy, Sixth Edition

a pure monopoly, a market in which a firm faces no competition. Revising Microeconomics Imperfect Competition: A Brief Review Marginal revenue The extra revenue the firm gains from selling an additional unit Its curve, MR, always lies below the/1964 indicates that the gains from creating an integrated industry in two countries can be substantial. Gains from intraindustry trade will be large when economies of scale are strong and products are highly differentiated. For example, sophisticated manufactured /


Slide 6-1 Introduction  Countries engage in international trade for two basic reasons: Countries trade because they differ either in their resources or.

market in which a firm faces no competition. The Theory of Imperfect Competition Slide 6-7  Monopoly: A Brief Review Marginal revenue –The extra revenue the firm gains from selling an additional unit –Its curve, MR, always lies below the / a greater variety of goods due to product differentiation Imports and exports within each industry (intra- industry trade) Monopolistic Competition and Trade Slide 6-26  The Effects of Increased Market Size The number of firms in a monopolistically competitive industry/


Monopolistic competition and trade

C = F + c × Q F is fixed costs, those independent of the level of output c is the constant marginal cost. Marginal cost is the cost of producing an additional unit of output. Average cost is the cost of production (C) divided / those on competing products due to product differentiation but must compete with other firms Monopolistic competition allows for gains from trade through lower costs and prices, as well as through wider consumer choice. Location of firms under monopolistic competition is unpredictable/


Médecins Sans Frontières / Doctors Without Borders (MSF) UK

agricultural_water_use_world_2001.png; http://www.fao.org/nr/water/docs/wateratfao.pdf; Teacher resource slide: Agricultural production and trade Improving water productivity is key Water productivity can be improved through increasing yields and drip irrigation. Source:/overall base of agriculture – history of earth abuse and soil erosion. Cropped areas increasingly advancing into marginal lands prone to erosion. Poorly designed and implemented irrigation systems that cause water-logging, salinisation and /


Documentation for Provisional Margin Entry Span file can be down loaded from FTP- Fao_common-Parameters-nsccl.yyyymmdd.s.spn One of the advantage is that.

clients as per screen shown below Please select from the margin option for viewing scrip wise margin Desktop-Trading-Osposition Clicking on generate button will generate the file as per the screen shown above Desktop-Trading-Osposition Desktop-Trading-Os Position This figure shown in Req Margin is scrip wise margin (Span & Exposure) as per selection Trading-FNO-Day to Day- Span / Exposure Calculator Through this option we/


Texas Margin Tax Emerging Issues in Texas State Taxation The University of Texas School of Law 5th Annual Texas Margin Tax Conference September 1, 2011.

the operation of a franchisees business pursuant to such plan is substantially associated with the franchisors trademark, service mark, trade name, logotype, advertising, or other commercial symbol designating the franchisor or its affiliate. (8) holding companies: / other business of the taxable entity. (d) See §3.583 of this title (relating to Margin: Exemptions) for information concerning exemption for certain trade show participants under Tax Code, §171.084. (e) Public Law 86-272 (15 United States/


Monopolistic competition and trade Pierre-Louis Vézina

= F + c × Q – F is fixed costs, those independent of the level of output – c is the constant marginal cost. Marginal cost is the cost of producing an additional unit of output. Average cost is the cost of production (C) divided by the/ 121(2), pages 541-585, May.Globalization and the Gains from VarietyThe Quarterly Journal of Economics Monopolistic Competition and Trade (cont.) International trade creates a larger market Let’s consider a numerical example to look at its effects on prices, scale, and product/


CFA Review Markets, participants, trading computations, and indexes.

or best-efforts basis) –Government bond issues –Municipal bond issues –Corporate issues Secondary Markets - where outstanding securities are traded –Securities exchanges (auction market: Commission brokers, specialists, floor brokers, floor traders) –Over-the-counter (OTC): National /=.1 x (.6 x 24000) = $1,440 Profit = $24,000 - $18,000 - $580 - $222 - $1440 = $3,758 Your investment = margin requirement + commission = (.40 x $24,000) + $113= $9600 + $113= $9,713 R= $3,758/$9,713 = 38.69% Uses of Security/


Chapter 10 Trade and the Environment. Key Questions What are the classical theorems of international trade and the implications of extending them to environmental.

will now purchase too much of the good. More specifically, they value infra marginal units of the good less than do foreign consumers. Accordingly, whilst trade taxes and subsidies can influence domestic pollution levels they do so by imposing higher /in an open economy as a function of the general equilibrium marginal abatement cost curve and marginal damage curves. It goes on to consider the general equilibrium effect of trade liberalisation on economic welfare. The Copeland and Taylor Model Deals with/


« Sales prices, replacement prices and trade margins - tracing price changes through the UK retail sector -» 29th General Conference of The International.

analysis? –What about alternatives? => Discussion by presenting the paper in more detail What are trade margins? Definition in the SNA (1993): –Trade margin: “the difference between the actual or imputed price realized on a good purchased for resale / Price Index (RPI) –Annual Business Inquiry (ABI) 2000 Questions –“RSI makes no attempt to measure double deflated trade margins or to measure replacement costs.” - how are replacement costs estimated in this analysis? –Data comparability ? Diverging pattern/


Gains and Losses from Trade in the Specific-Factors Model Readings: Chapter 3 1 Specific-Factors Model 2 Earnings of Labor 3 Earnings of Capital and Land.

▪ International Economics ▪ Feenstra/Taylor Real wages Home makes both mfg. and agr. With trade W = P M W x MPL M = P A W x MPL A Real wages equal marginal products of labor Chapter 31 of 72 3 © 2007 Worth Publishers ▪ International Economics ▪ /Publishers ▪ International Economics ▪ Feenstra/Taylor Summary: Steps We’ve Taken Want to see trade => real wages w But wages depend on marginal products of labor (e.g. W/P M = MPL M ) Marginal products of labor, in turn, depend on labor employments (e.g. MPL M /


Security Trading Objectives Margin Account Short Sale Summary.

this is a unleveraged position, your return is the same as the stock price appreciation/depreciation  Appreciation  Depreciation Investments 56 Margin Account Trading  Q: Same condition as previous case, but you buy 100 shares  What is your HPR if IBM appreciates to /stock can be recalled, and the broker may not find a substitution Investments 515 Wrap-up  Margin account to profit in the up market  Margin trading increases both the expected return and the level of risk  Short sale to profit in the /


Chapter 3 (BKM)1 How Securities Are Traded Chapter 3 (BKM) Finance 650 Spring 1999 Lecture notes prepared by: Dr. Susan D. Jordan.

Exchange –centralized auction market –price priority –price discovery Chapter 3 (BKM)15 More on Trading Trading costs –commissions –dealer bid-asked spread –price concession Chapter 3 (BKM)16 Trading on Margin Borrow part of the purchase price from broker (call money rate) Margin = equity/MV of securities equity = MV - Loan Balance –Initial margin –Maintenance marginMargin call (If actual < maintenance) –Restricted (Initial > Actual > Maintenance) Chapter 3 (BKM)17/


1 An Overview of the Thai Agricultural Futures Market By The Office of the Agricultural Futures Trading Commission Prepared for the CFTC Symposium, 18-25.

(US$2,988) 63,000 baht (US$1,500) Note: 1 US dollar = 42 Thai Baht, approximately 60 Liquidity-Driven Strategies in AFET 61 1.Margin rates adjustment 2.Exchange fees adjustment 3.Trading hours extension 4.New commodities listing 5.Futures trading education Liquidity-Driven Strategies in AFET 62 How to contact AFTC and AFET? 63 The Office of the Agricultural Futures/


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