International Commodity Trading

In addition to discussing financial and commodity futures and options, this book links them to the physical economy at large, a linkage which is particularly important when one is thinking of physical commodity markets. The book looks at not only the futures of derivative markets, but it also explores the physical markets and the underlying economy.
l Written by leading authors in the field of commodity markets
l Contains numerous up-to-date examples, case studies, and scenarios to assist in gaining an overall understanding
l Covers all aspects of commodity trading, including the inter-relationship between the different functions"International Commodity Trading" - dieses Buch behandelt nicht nur Finanz- und Warentermingeschäfte und -optionen, sondern auch den allgemeinen Kassahandel, und zwar insbesondere im Hinblick auf die Kassawarenmärkte. Dabei werden nicht nur die Futures- und Derivatemärkte genau untersucht, sondern ebenso die Kassamärkte und die ihnen zugrundeliegende Wirtschaft. Anhand einer Fülle von aktuellen Beispielen, Fallstudien und Szenarios werden die jeweiligen Themenschwerpunkte anschaulich und verständlich dargestellt. Geschrieben von herausragenden Experten auf dem Gebiet der Warenbörse. Preface.

Foreword.

Acknowledgements.

Physical Commodity Markets: An Overview.

Commodity Futures.

Options.

Exotic Options and Other Over-the-Counter Products.

International Commodity Markets: The Management of Information.

Commodities, Market Finance, and Corporate Finance.

The Management of Physical Commodity Contracts.

The Actors of Commodity Trading.

Conclusion: International Commodity Trading--Problems and Prospects.

Index.

"... useful addition to the library of anyone interested in entering the commodities markets, or indeed already involved in them...." (Lloyd's List, 21st April 2001) EPHRAIM CLARK is Professor of Finance at Middlesex University, London with extensive teaching experience in Europe and the USA. He is Founding Editor of the European Journal of Finance, Co-Editor of Treasury Affairs and Associate Editor of the International Journal of Finance. The author of four books and over 50 articles in academic and professional journals in the field of international risk management, he also has extensive experience in private business and as a consultant.

JEAN-BAPTISTE LESOURD is Research Professor in Economics, Groupe de Recherche en Economie Quantitative d'Aix-Marseille (GREQAM), Universite de la Mediterranee, France, He is also a part-time lecturer at ESSEC Business School in France. He collaborates with the University of Geneva and the University of Western Australia. He is an internationally known expert in the field of commodity markets and has published eleven books and about 30 articles in academic and specialised journals. His work has been distinguished by two academic awards. He has experience as a consultant to numerous external partners.

RÉNÉ THIÉBLEMONT is Associate Professor of Management and Dean of the Faculty of Management of the Universite de Savoie, France, and a part-time lecturer to Ecole Superieure de Commerce de Nantes, France. He collaborates with the University of Geneva. He belongs to the editorial board of the IEEE Transactions on Management, a leading international journal on technological management. He is recognised as an expert in project management, project finance and commodity trading. He has published a number of papers in academic journals. He has a broad business consulting experience, mainly with financial institutions and trading companies. Trading exchanges all over the world take in a diverse range of commodities, from the naturally occurring, such as wheat, sugar and precious metals, through to intangibles, such as shipping rates, heating degree-days and commodity indices. This book provides traders and executives in companies that both produce and trade these commodities with knowledge of the specific mechanisms that apply to the international markets. It discusses the various established and novel techniques associated with the management of market operations and, importantly, links them in to the economy at large.

Written by internationally recognised authors, International Commodity Trading will prove essential reading for practitioners and also for post-graduate, Masters and Ph.D students on business and finance courses world-wide. The ongoing evolution of international commodity markets is a fscinating aspect of globalisation, inasmuch as many basic commodities are traded globally on international physical markets, often associated with efficient and global futures markets.
International Commodity Trading
* offers a comprehensive discussion of the specific mechanisms that apply to physical and futures markets
* discusses the various techniques associated with the management of market operations
* presents and analyses the various types of commodity markets
* provides an in-depth coverage of trading companies, of their role and of their strategies
* gives techniques for forecasting commodity prices
* gives practical examples and case studies