Форекс, Форекс Обучение, Форекс Търговия

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Home Futures,options, derivates

The basis of futures and options lies on the principles of the deferred delivery. It is possible in these transactions the price to be agreed today and to buy or sell at the same price in the future. This is unlike the ordinary transaction when we go into the store give the money, pay for the good we want and receive it immediately. Why is it necessary then to negotiate the price today for a future delivery? According to the theory it brings stability and confidence.

Originally only farmers made use of futures and options. Harvest requires seeds, fertilizers, irrigation and drainage activities, work, and for all that money is necessary. When the time for sale comes, the farmer expecting the harvest can not be sure that the price, at which they can sell, will cover all costs and will gain profit. In this way things seem as risky undertaking and not every farmer would incur such a burden on themselves. Using futures and options farmer can avoid this risk and to agree today for a price at which harvest will be sold later /the term may be six or nine months later/. Thus agribusiness is relatively predictable and amenable to planning.валутен фючърс

Later, the principles of futures and options trading are borrowed from agriculture to other economy sectors, such as production of metals and oil, as well as in the field of finance - in stocks, indices and bonds. Futures trading is not too easy to understand for the average investor because of the large number of specific terms and definitions.
The futures is a transaction for buying or selling a fixed quantity of a particular asset at a fixed date in the future, at a price agreed now. There are two parties in the futures – a buyer and a seller. Buyer undertakes to make the purchase within the previously agreed period. The seller undertakes to sell out within the previously agreed period. These obligations are determined by asset type, contract size, expiry date of the futures, and the price agreed at the time of the transaction.

Standard Quantity
Futures are usually standardized in size or quantity and this is called a contract. Thus, seller and buyer know the size of their commintment. Each contract has a fixed in advance period within which the delivery must be done. It is called Delivery Date; the designated period within which the buyer immediately needs to get the futures asset and the seller receives their money.
Futures contracts shall be valid only during the previously fixed period, the obligation of real delivery occurs exactly on the date of delivery, and not earlier during the period. When these deadlines expire a "New Date" and a new contract are appointed.

The price of the futures is fixed today.
The main merits of the futures enjoyed by many people from farmers to fund managers are its stability and certainty. This opens up excellent opportunities, however, let us assume that the farmer entered into futures contracts for the sale of wheat, can not fulfill their obligations to provide the required amount due to reasons beyond his control, such as drought or frost of the crop. Then the solution is to purchase the same kind, size and term futures as offset of the obligation under the first futures for sale. In practice, the majority of futures transactions have exactly this essence, because why do financial speculators need physically delivered 100 tons wheat or troy ounce of gold when purchasing. Otherwise, when selling such contracts they will have to find wheat to fulfill their obligation on the Delivery Date.

In other words, each futures contract has a speculative nature and is obligatory bilateral; when a futures is bought it is obligatory to sell futures of the same type, term and size before the Date of Delivery in order to offset the obligation under the first transaction and to avoid the actual delivery. Thus, the difference between futures price at the time of purchase/sell and the time of the reverse operation appears as the subject of trade.

Before the boom of the margin currency trading, Forex traders widely used foreign exchange futures. They allowed speculation in the exchange rate with volume up to 50 times larger than the spots. It is important to know that unlike the Forex spot quotations, which are identified by three characters, such as CAD, AUD, GBP, JPY, the currency futures are marked with two - CD, AD, BP, or JY. If only one quotation is marked, it is always the U.S. dollar. See more in Courses

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