Le Borse Delle Merci [Commodity Exchanges]

Independent Review, No. 4, 2003

10 Pages Posted: 3 Nov 2011

See all articles by Alessandro Mauro

Alessandro Mauro

MKS; University of Geneva - Geneva School of Economics and Management

Date Written: October 31, 2011

Abstract

The article gives an overview of major commodity exchanges and exchanged products. Soft commodities, agriculturals, and hard commodities such as industrial and precious metals, are covered. The importance of quality and quantity standardizations is discussed, together with the differentiation between spot and forward markets, the latter in the double dimension of physical and derivatives markets, including Futures and Options. Price volatility gives opportunity for hedging and speculating on commodity exchanges and this article explains how this is achieved.

A section is devoted to exchanges specialized in energy products, i.e. crude oil, refined oil products, natural gas and electricity. Finally, main new trends are presented, including electronic marketplaces, new financial products, emission trading and a detailed explanation of weather derivatives.

Note: Downloadable document is in Italian.

Keywords: commodity, exchanges, soft commodities, energy products, NYMEX, IPE, crude oil, refined oil products, natural gas, electricity,emission trading, weather derivatives

JEL Classification: D49, O10

Suggested Citation

Mauro, Alessandro, Le Borse Delle Merci [Commodity Exchanges] (October 31, 2011). Independent Review, No. 4, 2003, Available at SSRN: https://ssrn.com/abstract=1951855 or http://dx.doi.org/10.2139/ssrn.1951855

University of Geneva - Geneva School of Economics and Management ( email )

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