Financial Markets Trends and Studies of Singapore Futures Markets

Publication Type

Journal Article

Publication Date

1998

Abstract

In this paper we explore some recent trends in the financial market and also report some studies of the Singapore futures markets. A characterization of trends shows that national securities markets are much closer than before. This means the linkages between securities and their derivatives and amongst themselves have be come much stronger. Secondly, the advent of sophisticated risk products and instruments and the knowledge to use them effectively would become a common theme together with the idea of value enhancements. Thirdly, computerizations and the internet will play an increasingly important role. So will empirical financial research become increasingly microscopic. The discussion will be supported by the experiences of the Singapore futures markets and various empirical research evidences. The paper also provides a detailed study of causality-in-variance test of information transmission between SIMEX and Osaka Stock Exchange on the Nikkei 225 stock index futures trading prior to, during, and immediately after the announcement of the collapse of Barings. The results are indicative of very strong international market linkages and a portent of things to come.

Discipline

Business

Research Areas

Finance

Publication

Asia-Pacific Financial Markets

Volume

5

Issue

1

First Page

45

Last Page

63

ISSN

1573-6946

Identifier

10.1023/a:1009627208258

Publisher

Springer Verlag

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