Single Stock Options

Семінарське заняття №17

Тема 15. Світовий валютний ринок

Блок І. Включає теоретичне опитування

І. Питання

1. Світовий валютний ринок: сутність, функції, структура.

2. Валютні операції та механізми їх здійснення.

3. Ринок деривативів

4. Поняття та види валютного арбітражу.

5. Валютний ринок України: етапи розвитку, сучасний стан

Блок ІІ. Питання для обговорення:

2.1 Проаналізуйте дані таблиць 17.1. – 17.17. та рис. 17.1- 17.2 та зробіть висновки щодо регіональних особливостей торгівлі деривативами

Таблиця 17.1

Single Stock Options

Region: Americas

Stock Exchange
	Volume traded (Nber of contracts)	Notional value (USD millions)	Option premium (USD millions)
BM&FBOVESPA	546 547 550	802 229 293	838 325 494	929 284 637	931 053	1 730 007	1 650 986	1 311 491	28 676	41 174	37 187	29 507
Boston Options Exchange	74 924 326	68 293 793	91 956 130	94 526 688	24 902				24 902	...	18 146	17 463
Buenos Aires SE	25 132 711	42 993 383
Chicago Board Options Exchange (CBO)	634 710 477	572 863 914	516 137 672	494 302 994	2 187 581	2 700 334	3 123 810	5 351 850	111 455	103 173	105 753	138 479
International Securities Exchange (ISE)	682 776 891	469 691 085	431 111 381	457 082 239
MexDer	345 718	618 790	446 547	477 525
Montreal Exchange	14 507 261	16 353 284	24 211 857	24 200 766	76 246	1 794			2 060	2 345	3 193	2 530
Montreal Exchange (OTC)	143 000	179 000					98 213	87 175
NASDAQ OMX PHLX	426 245 722	549 082 761	697 352 033	644 208 698					123 339	181 835	238 906	302 445
NASDAQ Options Market (U.S.)	52 469 412	82 438 266
NYSE Amex	170 978 207	287 207 967	634 144 955	594 617 579							146 482	161 945
NYSE Arca Options	273 769 123	305 235 039
Bolsa de Comercio de Buenos Aires			42 186 092	42 988 781

Stock Exchange
Open Interest (Nber of contracts)	Number of trades
BM&FBOVESPA	7 299 503	7 826 064	13 436 474	10 831 015	14 842 470	19 559 926	30 995 234	22 273 514
Boston Options Exchange	...	...			7 869 962	...
Buenos Aires SE	747 190	1 188 832			535 375	614 976
Chicago Board Options Exchange (CBO)	188 281 057	209 185 157	198 126 396	170 281 627	46 078 979	41 361 954	48 245 616	40 132 605
International Securities Exchange (ISE)	...	...			44 122 185	...
MexDer	3 960	58 468	69 015	44 478	3 288	2 368
Montreal Exchange	1 547 120	2 316 811			839 596	1 114 522
Montreal Exchange (OTC)	5 000	17 500	3 173 582	2 611 022			964 751	1 190 290
NASDAQ OMX PHLX	193 253 211	214 054 047			23 782 783	25 424 129	49 422 931	48 195 356
NASDAQ Options Market (U.S.)	...	...			5 195 820	8 810 039	53 856 086	51 044 886
Bolsa de Comercio de Buenos Aires			500 652	783 926			383 442	472 349

Таблиця 17.2

Region: Asia Pacific

Stock Exchange
	Volume traded (Nber of contracts)	Notional value (USD millions)	Option premium (USD millions)
Australian Securities Exchange	15 242 798	15 998 696	108 860 114	140 439 020	196 892	308 429	386 257	321 570	1 451 359	1 181 635	28 176	...
BSE Limited			36 644	45 908							...
Hong Kong Exchanges	47 322 248	60 638 909	73 309 376	55 141 693	159 657	162 407	190 679	134 945	3 836 130	5 298 564	9 101	...
Japan Exchange Group, Inc. (Osaka Securities Exchange)			1 218 762	46 322			...	...
Japan Exchange Group, Inc. (Tokyo Stock Exchange)			595 660	375 102			1 515
Korea Exchange		11 602							...	...		...
National Stock Exchange of India	14 066 778	28 363 426	33 172 963	57 221 005	88 173	206 728	187 302	309 714	41 012	88 678	3 515	5 763
TAIFEX	8 240 390	70 272	130 558	113 134	14 824				1 292	2 629
Athens Exchange (3)			64 238	35 955
Eurex			275 330 936	214 919 755			1 006 498	745 315			47 764	35 068
Osaka SE	408 612	379 715				1 555			20 897	174 017
Tokyo Stock Exchange Group	660 875	833 995							102 789	299 191
Johannesburg Stock Exchange			11 327 943	9 783 374								...
LSE Group			59 382 086	49 287 774			136 111	88 466			5 649	4 165
MEFF			29 410 340	34 507 360			47 160	37 665			2 532	2 086
Moscow Exchange			8 411 748	5 865 454			4 520	2 501				...
NASDAQ OMX Nordic Exchanges			29 836 598	28 553 656			51 284	43 992			…	...
NYSE Liffe (European markets)			150 562 241	112 840 693			531 675	338 797			38 463	24 494
Oslo B0rs			4 131 255	3 361 910			6 495	5 093
Tel-Avv Stock Exchange			827 348	480 262			3 956	1 482
Wiener Borse			499 139	313 682			1 304					...

Stock Exchange
Open Interest (Nber of contracts)	Number of trades	Notional Outstanding Amounts (USD millions)
Australian Securities Exchange	1 451 359	1 181 635	10 053 334	12 320 032	1 460 904	1 614 448			2 390 794	...
BSE Limited				1 113					9 598	6 641
Hong Kong Exchanges	3 836 130	5 298 564	5 251 548	3 903 430			9 152	8 744		...
Japan Exchange Group, Inc. (Osaka Securities Exchange)			5 877	1 675
Japan Exchange Group, Inc. (Tokyo Stock Exchange)			30 120	59 019						...
Korea Exchange
National Stock Exchange of India	41 012	88 678	103 258	177 657	10 928 922	22 713 827		1 024	25 447 845	40 546 889
TAIFEX	1 292	2 629	2 682	2 690	242 518	30 730			52 839	59 269
Athens Exchange (3)			6 689	5 873					1 160
Eurex			40 351 701	32 794 129			133 355	110 410	3 103 914	2 297 621
Osaka SE	20 897	174 017					...	...	6 808	...
Tokyo Stock Exchange Group	102 789	299 191
Johannesburg Stock Exchange			1 318 534	1 294 575
LSE Group			8 467 171	7 051 838			...	...	466 916	393 422
MEFF			8 898 024	8 261 020			11 737	8 790	78 148	71 363
Moscow Exchange			62 791	316 868			...	...	309 605	...
NASDAQ OMX Nordic Exchanges			2 926 931	3 403 402			...	...	749 942	612 780
NYSE Liffe (European markets)			23 781 759	15 959 210			...	...	3 392 272	2 571 610
Oslo B0rs			293 126	379 798					27 926	20 060
Tel-Avv Stock Exchange			30 704	50 277					35 395	17 679
Wiener Borse			64 953	48 957					...	...

Таблиця 17.3

Region: Europe, Africa, Middle East

Stock Exchange
	Volume traded (Nber of contracts)	Notional value (USD millions)	Notional Outstanding Amounts (USD millions)
Athens Derivatives Exchange	67 590	105 764	7 553 643	13 046 535			3 155	2 670	3 218	2 225	26 814	13 857
Borsa Italiana	20 462 240	20 081 028			71 873	75 119			459 087	420 019
Eurex	146 286 451	151 916 338	174 271 102	196 072 416	353 285	439 151	810 752	512 371	2 822 091	2 995 929	10 212	10 752
Eurex (OTC)	158 266 852	156 942 350			398 823	442 227	28 320	31 346	78 133	84 444	...	...
Johannesburg Stock Exchange	15 670 869	12 358 594	50 769 051	28 892 202	...	...	41 794	21 452	6 960	6 502	2 547	1 326
MEFF	35 527 914	37 607 374	27 578 789	21 245 876	56 253	63 814	3 906	2 396	...	...	...	...
NASDAQ OMX Nordic Exchanges	28 775 091	32 753 857	4 012 218	1 979 581	...	...	932 901	717 629	...	...	...	...
NYSE Liffe (European markets)	141 604 460	146 893 768	250 441 783	246 541 679	325 405	435 188	2 124	1 231	3 406 750	3 545 642
NYSE Liffe (European markets) (OTC)	29 263 659	28 334 839	1 938 080	1 645 446	129 222	152 001			12 197	14 252
Oslo B0rs	2 549 140	3 504 368			...	...			...	...
RTS	12 962 387	9 153 070			3 373	3 911			225 123	331 807
Tel Aviv SE	321 735	979 336			1 200	4 441			5 165	17 616
Wiener Borse	474 697	469 216	4 430						14 290	...
Budapest Stock Exchange			806 061	609 797			4 012	2 159
LSE Group			12 013 346	6 052 101			46 512	17 733			...	...
Warsaw Stock Exchange			737 742	540 330			2 513	1 032

Stock Exchange
	Open Interest (Nber of contracts)	Number of trades
Athens Derivatives Exchange	1 615	2 149	288 882	337 378			417 109	549 996
Borsa Italiana	2 719 744	2 786 014			...	...
Eurex	45 010 576	44 584 147	3 279 773	4 906 244	57 663	44 664	88 350	34 757
Eurex (OTC)	45 010 576	44 584 147			57 663	44 664
Johannesburg Stock Exchange	2 814 565	1 837 783	3 287 538	2 898 435			286 378	...
MEFF	7 728 251	8 553 069	1 947 938	1 306 987	...	...	83 360	38 523
NASDAQ OMX Nordic Exchanges	3 844 093	4 291 472	259 644	113 771	2 279	2 373	15 577	8 485
NYSE Liffe (European markets)	29 444 269	24 045 386	3 712 327	4 922 532	24 969	22 096	15 360	11 541
NYSE Liffe (European markets) (OTC)	3 217 018	2 948 373			15 369	13 480
Oslo B0rs	377 825	552 111	183 419	200 038	...	...	6 386	5 138
RTS	354 241	244 104
Tel Aviv SE	23 192	70 780
Wiener Borse	70 363	77 337
Budapest Stock Exchange			30 198	34 212			52 783	36 156
LSE Group			272 540	235 545			31 128	16 783
Warsaw Stock Exchange			6 545	8 197			515 354	311 661

Таблиця 17.4