Cme Vulnerability, The: The Impact Of Negative Oil Futures Trading
Cme Vulnerability, The: The Impact Of Negative Oil Futures Trading

Author: George Xianzhi Yuan

Publisher: World Scientific

Published: 2020-10-23

Total Pages: 274

ISBN-13: 9811223211

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In 2020, the global lockdowns caused by the COVID-19, or coronavirus, pandemic had resulted in a sharp drop in demand for crude oil. This impact was so severe that on April 8, 2020, a proposal to update the Chicago Mercantile Exchange Holdings Inc. (CME) trading rule to permit negative prices was applied to CME's WTI Oil futures contracts; this led to a novel phenomenon in which the closing clearing price of WTI Oil May future was $-37.63/barrel based on fewer than 400 contracts' trading volume in the last three minutes, reflecting less than 0.2% of the total trading contracts volume on April 20, 2020. This occurrence of negative closing clearing price for CME's WTI Oil futures trading, cannot be explained simply by just the principle of supply and demand; instead, it highlights vulnerabilities caused by CME's allowance of negative price trading (based on its trading platform), a decision which brings potential and fundamental challenges to the global financial system.This event challenges not just our basic concepts of 'value' and trading 'price' of commodities and goods that underline our understanding of the framework for the invisible hand and general equilibrium theory in economics established by a few generations of scholars since Adam Smith in 1776 for market economies, but also have wider implications on the fundamentals that underpin our ideas of value and labor in the organization, activity, and behavior of civilizations and individual liberties.The scope of this book is limited to covering the impact of the negative oil futures derivatives' trading between April 20 and 21, 2020. This book focuses on exploring the issues, challenges, and possible impacts on global financial markets due to the negative clearing prices of WTI Oil futures contracts and related problems from different perspectives. Topics covered include the responsibilities and liabilities of the CME; critique to the fundamental theory of economics and the modern understanding of value and labor; and challenges to the global financial systems and businesses and introduction to new methods of application.

The CME Group Risk Management Handbook
The CME Group Risk Management Handbook

Author: CME Group

Publisher: John Wiley & Sons

Published: 2010-05-25

Total Pages: 1253

ISBN-13: 047063488X

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Praise for The CME Group Risk Management Handbook "Wow! The CME Group Risk Management Handbook is a 'ten strike' and long overdue. A must-read and reference for the risk management industry!" —Jack Sandner, retired chairman of CME Group, member of the Executive Committee "This is a powerful book for its integration of futures and options markets with an understanding of the whole economy. It is an eye-opener to see how central these markets are to our economic lives." —Robert J. Shiller, Okun Professor of Economics, Yale University; Chief Economist, MacroMarkets LLC "Risk management is essential to successful investing, and The CME Group Risk Management Handbook provides the essentials for understanding risk management. In the wake of the financial turmoil of the last few years, managing risk should be part of any investment program. Among the key elements of risk management are stock index, bond, currency, and commodity futures as well as a growing number of futures, options, swaps, and other financial instruments built on indices tracking housing prices, weather conditions, and the economy. The CME Group Risk Management Handbook offers a comprehensive guide for using all of these to better manage financial risks." —David M. Blitzer, PhD, Managing Director and Chairman of the Index Committee, S&P Indices "Dare we ignore the advice of a financial institution, the largest of its kind in the world, that navigated the recent financial crisis without the aid of a single TARP dollar or access to the Fed's cheap loans? For CME Group, risk management has meant risk minimization as it enters its 151st year of life and its 85th year of central counterparty clearing without a single trading debt unpaid. It has been, and continues to be, a leader by example." —Philip McBride Johnson, former CFTC chairman "For the first time, a comprehensive handbook outlining the futures market in today's world is available. The CME Group Risk Management Handbook covers futures basics for the novice trader, while the veterans will benefit from an in-depth look at options and hedging. This handbook is a necessity for any professional, investor, or other market participant seeking to manage risk in the perpetually changing futures market." —H. Jack Bouroudjian, CEO, Index Futures Group

The Prescriber's Guide, Antidepressants
The Prescriber's Guide, Antidepressants

Author: Stephen M. Stahl

Publisher: Cambridge University Press

Published: 2009-04-27

Total Pages: 13

ISBN-13: 0521743966

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This is a spin-off from Stephen M. Stahl's new, completely revised and updated version of his much-acclaimed Prescriber's Guide, covering drugs to treat depression.

Zero-Sum Game
Zero-Sum Game

Author: Erika S. Olson

Publisher: John Wiley & Sons

Published: 2010-10-26

Total Pages: 272

ISBN-13: 0470624205

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In 2007, a stranger-than-fiction multibillion-dollar bidding war for the Chicago Board of Trade (CBOT) erupted between the Chicago Mercantile Exchange (CME) and Atlanta’s IntercontinentalExchange (ICE). Zero-Sum Game: The Rise of the World’s Largest Derivatives Exchange takes readers behind the scenes of this battle to tell the gripping—and often comical—story of how the historic merger between CME and CBOT almost didn’t happen. Author Erika S. Olson, a managing director at CBOT during the bidding war, delivers a blow-by-blow account of the fight for the world’s oldest futures exchange, taking you inside CBOT’s landmark Chicago Loop headquarters, onto the high-octane trading floor, and into executives’ offices. Through the lens of the CME/CBOT deal, Zero-Sum Game: Introduces the colorful and outspoken personalities who call the shots in this close-knit and frequently misunderstood industry Details the reasons behind the recent, spectacular growth of a market that’s existed for over 160 years Explains how derivatives affect the lives of average consumers worldwide by influencing everything from interest rates on credit cards to the cost of a cheeseburger to the price of a gallon of gas Reveals the inner workings of futures exchanges, and differentiates the various types of derivatives that are routinely lumped together and vilified by the media Erika S. Olson is a former managing director of the Chicago Board of Trade and spent over ten years working in and consulting to the financial services industry. She received her MBA from Harvard Business School and her BBA from the University of Michigan Ross School of Business.

The Fenway Guide to Lesbian, Gay, Bisexual, and Transgender Health
The Fenway Guide to Lesbian, Gay, Bisexual, and Transgender Health

Author: Harvey J. Makadon

Publisher: ACP Press

Published: 2008

Total Pages: 546

ISBN-13: 9781930513952

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"The Fenway Guide to Lesbian, Gay, Bisexual, and Transgender Health is the first truly comprehensive clinical reference to enhancing the health care and wellness of LGBT patients. Written by leading experts in the field and created in conjunction with Fenway Community Health of Boston, one of America's most respected community-based research and treatment centers, this one-of-a kind resource examines the unique issues faced by sexual minority patients and provides readers with clear and authoritative guidance." -- Book Jacket.

What School Could Be
What School Could Be

Author: Ted Dintersmith

Publisher: Princeton University Press

Published: 2018-04-10

Total Pages: 261

ISBN-13: 069118061X

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An inspiring account of teachers in ordinary circumstances doing extraordinary things, showing us how to transform education What School Could Be offers an inspiring vision of what our teachers and students can accomplish if trusted with the challenge of developing the skills and ways of thinking needed to thrive in a world of dizzying technological change. Innovation expert Ted Dintersmith took an unprecedented trip across America, visiting all fifty states in a single school year. He originally set out to raise awareness about the urgent need to reimagine education to prepare students for a world marked by innovation--but America's teachers one-upped him. All across the country, he met teachers in ordinary settings doing extraordinary things, creating innovative classrooms where children learn deeply and joyously as they gain purpose, agency, essential skillsets and mindsets, and real knowledge. Together, these new ways of teaching and learning offer a vision of what school could be—and a model for transforming schools throughout the United States and beyond. Better yet, teachers and parents don't have to wait for the revolution to come from above. They can readily implement small changes that can make a big difference. America's clock is ticking. Our archaic model of education trains our kids for a world that no longer exists, and accelerating advances in technology are eliminating millions of jobs. But the trailblazing of many American educators gives us reasons for hope. Capturing bold ideas from teachers and classrooms across America, What School Could Be provides a realistic and profoundly optimistic roadmap for creating cultures of innovation and real learning in all our schools.

Manual of Diagnostic Ultrasound
Manual of Diagnostic Ultrasound

Author: World Health Organization

Publisher: World Health Organization

Published: 2011

Total Pages: 527

ISBN-13: 9241548541

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Forlagets beskrivelse: The World Health Organization (WHO) recognizes ultrasound as an important medical diagnostic imaging technology. Manuals on ultrasound have been published by WHO since 2001, with the purpose of guiding health professionals on the safe and effective use of ultrasound. Among the diagnostic imaging technologies, ultrasound is the safer and least expensive, and technological advances are making it more user friendly and portable. Ultrasound has many uses, both diagnostic and therapeutic. For the purposes of this manual, only diagnostic ultrasound will be considered and further analysed. Basic physics of ultrasonographic imaging was released in 2005; since then, WHO has addressed the physics, safe use and different applications of ultrasound as an important diagnostic imaging tool. Since it is a non ionizing radiation technology, along with nuclear magnetic resonance imaging, the risks inherent to its use are lower than those presented by other diagnostic imaging technologies using ionizing radiation, such as the radiological technologies (X-rays and computed tomography scanners).