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Recent Advances in the Literature: Asia–Pacific Derivative Markets
Author(s) -
Webb Robert I.
Publication year - 2016
Publication title -
asia‐pacific journal of financial studies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.375
H-Index - 15
eISSN - 2041-6156
pISSN - 2041-9945
DOI - 10.1111/ajfs.12122
Subject(s) - futures contract , asia pacific , derivatives market , financial economics , derivative (finance) , economics , business , international economics , international trade
Although most researchers trace the origin of modern futures markets to the creation of the Chicago Board of Trade in the 1840s, Hamori et al . ( Journal of Futures Markets , 2001, 21 , 861) argue that modern futures markets originated with the establishment of the Dojima Rice Exchange in Osaka in the early 1700s. Yet, derivative markets based in the Asia–Pacific region have only recently become important from a global perspective as measured by relative trading volume. Not surprisingly, the recent sharp growth in trading volume has stimulated much research on derivatives traded on Asia–Pacific markets as well. This study discusses some of that recent research.