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FAİZ ORANI ÜZERİNE VADELİ İŞLEM SÖZLEŞMELERİNİN RİSKTEN KORUNMAK AMACIYLA KULLANIMI

Yıl 2001, , 125 - 134, 15.01.2001
https://doi.org/10.14783/maruoneri.735499

Öz

One of the most successful and exciting innovations in the history of the futures markets has been the emergence of interest rate futures contracts. Today, the interest rate futures market has come to represent about one-half of the entire futures market. The reason behind this success is the fact that the individual, the businessperson and the banker, by using interest rate futures instruments, alone or in combination, each has the ability to control and hedge their interest rate risk and seek opportunity by restructuring the portfolio in the cash market. İn this study, the hedging with interest rate futures, especially by using short-term interest rate futures contracts, has been analyzed. It is also pointed out that Turkey, with a huge level of public borrowing, high level of secondary market trading volüme in the Biliş and Bonds Market and volatile interest rate structure, urgently needs this money market instrument, as the potential practical use of interest rate futures contracts for hedging purposes will offer a new alternative to improve the performance of the market participants in the financial market. I.

Kaynakça

  • [1] Konishi, A., Dattatreya, R.E., The Handbook of Derivative Instruments, 2nd Ed., Irwin Professional Publishing, Chicago, 1996.
  • [2] Miller, M., Merton Miller on Derivatives, John Wiley & Sons, Inc., New York, 1997.
  • [3] Cole, S.C.; Reichenstein, W., “Forecasting Interest Rates with Eurodollar Futures Rates”, Baylor University Working Paper, 1993.
  • [4] Rosengren, E.S., “Forecasting Changes in Inflation Using the Treasury Bili Futures Market”, New England Economic Revievv, Boston, March/April, 1987, ss.41-49.
  • [5] Puglisi, D.J., “Is the Futures Market For Treasury Biliş Efficient?”, Journal of Portfolio Management, New York, Winter, Völ.4, 1978, s. 64.
  • [6] Simpson, W. G.; Ireland, T. C., “The Impact of Financial Futures on the Cash Market for Treasury Biliş”, Journal of Financial and Quantitative Analysis, Seattle, September, Vol.20, 1985, ss.371 - 380. *
  • [7] Bortz, G. A., “Does the Treasury Bond Futures Market Destabilize the Treasury Bond Cash Market?”, The Journal of Futures Markets, New York, Spring, Vol.4, 1984, ss.25-39.
  • Elton, E.J.; Gruber, M.J.; Rentzler, J., “Intra-Day Tests of the Efficiency of the Treasury Bili Futures Market”, The Revievv of Economics and Statistics, Cambridge, February, Vol.66, 1984, ss. 129-138.
  • Esposito, M.; Giraldi, C., “Preliminary Evidence on a New Market: The Futures on the Italian Treasury Bonds”, The Journal of Futures Markets, Vol.14, No.2, 1994, ss.121-146.
  • ---------, FIBV, International Federation of Stock Exchanges Annual Report, Paris, 1998.
  • ---------, IFR, “The IFR Handbook of World Stock,
  • Derivative and Commodity Exchanges”, London, 1998.
  • Krehbiel, T.; Adkins, L.C., “Interest Rate Futures: Evidence on Forecast Power, Expected Premiums, and the Unbiased Expectations Hypothesis”, The Journal of Futures Markets, Vol.14, No.5, 1994, ss.531-543.
  • Rendleman, Richard J.Jr.; Carabini, C.E., “The Efficiency of the Treasury Bili Futures Market”, The Journal of Finance, Vol.34, Cambridge, September, 1979, s.895.
Toplam 14 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Eski Sayılar
Yazarlar

Mustafa Kemal Yılmaz Bu kişi benim

Yayımlanma Tarihi 15 Ocak 2001
Yayımlandığı Sayı Yıl 2001

Kaynak Göster

APA Yılmaz, M. K. (2001). FAİZ ORANI ÜZERİNE VADELİ İŞLEM SÖZLEŞMELERİNİN RİSKTEN KORUNMAK AMACIYLA KULLANIMI. Öneri Dergisi, 4(15), 125-134. https://doi.org/10.14783/maruoneri.735499

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