Stir Futures "Trading Euribor and Eurodollar Futures"

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Aikin, Stephen

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ISBN:9780857192196
Editorial: Harriman House Publishing
Fecha de la edición:2012
Encuadernación:
Nº Pág.:324
Idiomas:Ingles

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/ Sistema Financiero

Short term interest rate futures (STIR futures) are one of the largest financial markets in the world. The two main contracts, the Eurodollar and Euribor, regularly trade in excess of one trillion dollars and euros of US and European interest rates each day. STIR futures are also unique because their structure encourages spread and strategy trading, offering a risk reward profile incomparable to other financial markets. STIR futures are traded on a completely electronic market place that provides a level playing field, meaning that the individual can compete on exactly the same terms as banks and institutions. The sheer number of trading permutations allows traders to find their own niche. "STIR Futures" is a handbook to the STIR futures markets, clearly explaining what they are, how they can be traded, and where the profit opportunities are. The book has been written for aspiring traders and also for experienced traders looking for new markets. This book offers a unique look at a significant but often overlooked financial instrument. By focusing exclusively on this market, the author provides a comprehensive guide to trading STIR futures. He covers key points such as how STIR futures are priced, the need to understand what is driving the markets and causing the price action, and provides in-depth detail and trading examples of the intra-contract spread market and cross-market trading opportunities of trading STIR futures against other financial products. An essential read for anyone involved in this market.

Biography Preface Introduction STIR Futures - Quick Summary 1. STIR Futures Introduction to STIR Futures STIR Futures Pricing The STIR Future Theoretical Price Hedging with STIR futures The Drivers of STIR Futures Prices Conclusion 2 Mechanics of STIR futures Accessing The Markets Fixed and variable costs Liquidity and rebate schemes The choice of Clearing Member or trading arcade Software and hardware Selecting an ISV Influences regarding the trader's choice of markets and contracts Remote trading 3. Trading STIR futures Trading Opportunities: The Two Trades Spread Trading: Intra-Contract Spreads Spread Trading: Inter-Contract Spreads 4 Trading Considerations For STIR Futures Zero Sum Game - Know The Players Supporting cast How to play Game Play Endgame A Day in the Life of a STIR Futures Trader 10 Rules For Trading STIR Futures Appendices STIR Futures Contracts Contract Specifications For Eurodollar, Euribor, Short Sterling and Euroswiss Exchanges Some Clearing Members Independent Software Vendors (ISV) Trading Arcades Key Policy Rate Changes (EUR, USD) Bibliography