微积分网课代修|导数代写Derivatives theory代考|FIN340 FORWARDS AND FUTURES

微积分网课代修|导数代写Derivatives theory代考|FIN340 FORWARDS AND FUTURES

简单的说,学好微积分(数学分析)是一个毁灭自己的先天直觉然后重新塑造一个后天直觉。

转变思维永远不是简单,但是不转变,贪图一时的捷径只是饮鸩止渴罢了。高中的时候,我一个同学很背单词的时候喜欢用汉字去拼那些单词的发音,还喜欢学各种解题技巧,这个时候我和他的成绩是一样的。

国外的老师较为看重学生homework的完成情况,对于同学们来说,完成一门科目作业并获得不错的成绩是尤为重要的事情。但对于不少同学来说,在自身英语说存在局限的情况下,当数学基础较为薄弱时,微积分作业的难度一下子就提升了,很难独立完成微积分作业。Calculus-do™提供的专业微积分代写能为大家解决所有的学术困扰,我们不仅会帮大家完成作业,还提供相应的数学知识辅导课程,以此来提高同学们学习能力。

我们提供的econ代写服务范围广, 其中包括但不限于:

  • 单变量微积分
  • 多变量微积分
  • 傅里叶级数
  • 黎曼积分
  • ODE
  • 微分学
微积分网课代修|导数代写Derivatives theory代考|FIN340 FORWARDS AND FUTURES

微积分网课代修导数代写Derivatives theory代考|FORWARDS AND FUTURES

Forward and futures contracts are analytically very similar, although the way the two contracts are traded differ in some respects. A holder of a long (short) forward contract has an agreement to buy (sell) an asset at a certain time in the future for a certain price which is fixed today.
The buyer (seller or short position) in a forward contract:

  • acquires a legal obligation to buy (sell) an asset (the underlying)
  • at some specific future date (maturity/expiry date)
  • in an amount (contract size)
  • and at a price (the forward price) which is fixed today.
    A forward contract is an over-the-counter (OTC) instrument, and trades take place directly between the buyer and seller as negotiated between the two parties (usually over the phone) for a specific amount and specific delivery date.

Originally, forward (and futures) markets were introduced to eliminate risk due to changes in the spot (cash market) price of agricultural commodities. For example, a farmer might know in April that he will harvest 5,000 bushels of wheat in September. A wholesaler who purchases grain for use in the food industry might know their requirements for wheat in September, as early as April. The two participants can eliminate (or hedge) risk by negotiating a contract to supply 5,000 bushels of grain in September at a price which is agreed in April – so the September-forward price is agreed in April but will not be paid until September, when the grain is delivered.

微积分网课代修导数代写Derivatives theory代考|Market Classification

A key feature of a futures contract is that it involves deferred delivery of the underlying asset (e.g. wheat, AT\&T stocks), whereas spot (cash market) assets are for immediate delivery (although in practice, there is usually a delay of a few days). A primary use of derivative securities is to minimise price uncertainty. Therefore, where the underlying assets (e.g. currencies, stocks, oil, agricultural produce) are widely traded and yet their spot prices exhibit great volatility, there is likely to be a large active derivatives market.

Trading in derivative securities can be on a trading floor (or ‘pit’) or via an electronic network of traders, within a well-established organised market (e.g. with a clearing house, membership rules, etc.). However, many derivatives contracts – for example, all FX-forward contracts and swap contracts – are traded in OTC markets, where the contract details are not standardised but individually negotiated between clients and dealers. Options are traded widely on exchanges but the OTC market in options (particularly ‘complex’ or ‘exotic’ options) is also very large.

微积分网课代修|导数代写Derivatives theory代考|FIN340 FORWARDS AND FUTURES

微积分网课代修导数代写Derivatives theory代考|FORWARDS AND FUTURES

远期和期货合约在分析上非常相似,尽管这两种合约的交易方式在某些方面有所不同。多头(空头)远期合约的持有人同意在未来某个时间以今天固定的某个价格购买(出售)一项资产。
远期合约中的买方(卖方或空头头寸):

  • 获得购买(出售)资产(标的)的法律义务
  • 在某个特定的未来日期(到期/到期日)
  • 金额(合约大小)
  • 并以今天固定的价格(远期价格)。
    远期合约是一种场外交易 (OTC) 工具,交易直接在买卖双方之间进行,由双方协商(通常通过电话)就特定金额和特定交割日期进行。

最初,引入远期(和期货)市场是为了消除由于农产品现货(现金市场)价格变化而引起的风险。例如,一个农民可能在 4 月知道他将在 9 月收获 5,000 蒲式耳小麦。购买粮食用于食品行业的批发商可能会在 9 月,最早在 4 月知道他们对小麦的需求。两个参与者可以通过谈判以 4 月份商定的价格在 9 月份供应 5,000 蒲式耳谷物的合同来消除(或对冲)风险——因此 9 月份的远期价格在 4 月份达成一致,但要到 9 月份才能支付,届时谷物交付。

微积分网课代修导数代写Derivatives theory代考|Market Classification

期货合约的一个关键特征是它涉及延迟交割标的资产(例如小麦、AT\&T 股票),而现货(现金市场)资产是即时交割的(尽管在实践中,通常会延迟交割)几天)。衍生证券的主要用途是最大限度地减少价格不确定性。因此,当标的资产(如货币、股票、石油、农产品)交易广泛,而其现货价格波动较大时,可能会出现一个大型活跃的衍生品市场。

衍生证券的交易可以在交易大厅(或“坑”)或通过交易者的电子网络,在完善的有组织的市场(例如,通过清算所、会员规则等)进行。然而,许多衍生品合约——例如所有外汇远期合约和掉期合约——都是在场外市场交易的,合约细节没有标准化,而是由客户和交易商单独协商。期权在交易所广泛交易,但期权(特别是“复杂”或“奇异”期权)的场外交易市场也非常大。

微积分网课代修|导数代写Derivatives theory代考|FIN340 FORWARDS AND FUTURES
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