Chapter

Forwards and Futures

Tomas Björk

in Arbitrage Theory in Continuous Time

Second edition

Published in print March 2004 | ISBN: 9780199271269
Published online October 2005 | e-ISBN: 9780191602849 | DOI: http://dx.doi.org/10.1093/0199271267.003.0026

Series: Oxford Finance Series

Forwards and Futures

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This chapter discusses forward and futures contracts. It considers a fixed simple T-claim, □, at a time t. It shows that forward and futures contracts have the same claim □ as their underlying object, but differ from the standard contract by way in which payments are made. Practice exercises are included.

Keywords: forward contracts; futures contracts; payments; claims

Chapter.  2707 words. 

Subjects: Financial Markets

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