金融代写|期货期权代写Futures Options代考|AEM4210

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statistics-lab™ 为您的留学生涯保驾护航 在代写期货期权Futures Options方面已经树立了自己的口碑, 保证靠谱, 高质且原创的统计Statistics代写服务。我们的专家在代写期货期权Futures Options相关的作业也就用不着说。

我们提供的期货期权Futures Options及其相关学科的代写,服务范围广, 其中包括但不限于:

  • Statistical Inference 统计推断
  • Statistical Computing 统计计算
  • Advanced Probability Theory 高等楖率论
  • Advanced Mathematical Statistics 高等数理统计学
  • (Generalized) Linear Models 广义线性模型
  • Statistical Machine Learning 统计机器学习
  • Longitudinal Data Analysis 纵向数据分析
  • Foundations of Data Science 数据科学基础
金融代写|期货期权代写Futures Options代考|AEM4210

金融代写|期货期权代写Futures Options代考|EXCHANGE-TRADED MARKETS

A derivatives exchange is a market where individuals and companies trade standardized contracts that have been defined by the exchange. Derivatives exchanges have existed for a long time. The Chicago Board of Trade (CBOT) was established in 1848 to bring farmers and merchants together. Initially its main task was to standardize the quantities and qualities of the grains that were traded. Within a few years, the first futures-type contract was developed. It was known as a to-arrive contract. Speculators soon became interested in the contract and found trading the contract to be an attractive alternative to trading the grain itself. A rival futures exchange, the Chicago Mercantile Exchange (CME), was established in 1919. Now futures exchanges exist all over the world. (See table at the end of the book.) The CME and CBOT have merged to form the CME Group (www.cmegroup.com), which also includes the New York Mercantile Exchange (NYMEX), and the Kansas City Board of Trade $(\mathrm{KCBT})$.

The Chicago Board Options Exchange (CBOE, www.cboe.com) started trading call option contracts on 16 stocks in 1973. Options had traded prior to 1973, but the CBOE succeeded in creating an orderly market with well-defined contracts. Put option contracts started trading on the exchange in 1977. The CBOE now trades options on thousands of stocks and many different stock indices. Like futures, options have proved to be very popular contracts. Many other exchanges throughout the world now trade options. (See table at the end of the book.) The underlying assets include foreign currencies and futures contracts as well as stocks and stock indices.

Once two traders have agreed to trade a product offered by an exchange, it is handled by the exchange clearing house. This stands between the two traders and manages the risks. Suppose, for example, that trader A enters into a futures contract to buy 100 ounces of gold from trader B in six months for $\$ 1,750$ per ounce. The result of this trade will be that $\mathrm{A}$ has a contract to buy 100 ounces of gold from the clearing house at $\$ 1,750$ per ounce in six months and B has a contract to sell 100 ounces of gold to the clearing house for $\$ 1,750$ per ounce in six months. The advantage of this arrangement is that traders do not have to worry about the creditworthiness of the people they are trading with. The clearing house takes care of credit risk by requiring each of the two traders to deposit funds (known as margin) with the clearing house to ensure that they will live up to their obligations. Margin requirements and the operation of clearing houses are discussed in more detail in Chapter $2 .$

金融代写|期货期权代写Futures Options代考|OVER-THE-COUNTER MARKETS

Not all derivatives trading is on exchanges. Many trades take place in the over-thecounter (OTC) market. Banks, other large financial institutions, fund managers, and corporations are the main participants in OTC derivatives markets. Once an OTC trade has been agreed, the two parties can either present it to a central counterparty (CCP) or clear the trade bilaterally. A CCP is like an exchange clearing house. It stands between the two parties to the derivatives transaction so that one party does not have to bear the risk that the other party will default. When trades are cleared bilaterally, the two parties have usually signed an agreement covering all their transactions with each other. The issues covered in the agreement include the circumstances under which outstanding transactions can be terminated, how settlement amounts are calculated in the event of a termination, and how the collateral (if any) that must be posted by each side is calculated. CCPs and bilateral clearing are discussed in more detail in Chapter 2 .

Large banks often act as market makers for the more commonly traded instruments. This means that they are always prepared to quote a bid price (at which they are prepared to take one side of a derivatives transaction) and an ask price (at which they are prepared to take the other side).

Prior to the financial crisis, which started in 2007 and is discussed in some detail in Chapter 8 , OTC derivatives markets were largely unregulated. Following the financial crisis and the failure of Lehman Brothers (see Business Snapshot 1.1), we have seen the development of many new regulations affecting the operation of OTC markets. The main objectives of the regulations are to improve the transparency of OTC markets and reduce systemic risk (see Business Snapshot 1.2). The over-the-counter market in some respects is being forced to become more like the exchange-traded market. Three important changes are:

  1. Standardized OTC derivatives between two financial institutions in the United States must, whenever possible, be traded on what are referred to a swap execution facilities (SEFs). These are platforms similar to exchanges where market participants can post bid and ask quotes and where market participants can trade by accepting the quotes of other market participants.
  2. There is a requirement in most parts of the world that a CCP be used for most standardized derivatives transactions between financial institutions.
  3. All trades must be reported to a central repository.
金融代写|期货期权代写Futures Options代考|AEM4210


金融代写|期货期权代写Futures Options代考|EXCHANGE-TRADED MARKETS

衍生品交易所是个人和公司交易由交易所定义的标准化合约的市场。衍生品交易所已经存在了很长时间。芝加哥贸易委员会 (CBOT) 成立于 1848 年,旨在将农民和商人聚集在一起。最初,它的主要任务是标准化交易谷物的数量和质量。几年之内,第一个期货类型的合约被开发出来。它被称为到达合同。投机者很快对合约产生了兴趣,并发现交易合约是比交易谷物本身更有吸引力的替代方案。竞争对手的期货交易所芝加哥商品交易所 (CME) 成立于 1919 年。现在世界各地都有期货交易所。(见本书末尾的表格。(ķC乙吨).

芝加哥期权交易所(CBOE,www.cboe.com)于 1973 年开始交易 16 只股票的看涨期权合约。期权交易早于 1973 年,但 CBOE 成功地创造了一个具有明确合约的有序市场。看跌期权合约于 1977 年开始在交易所交易。芝加哥期权交易所现在交易数千种股票和许多不同股票指数的期权。与期货一样,期权已被证明是非常受欢迎的合约。世界各地的许多其他交易所现在都在交易期权。(见书末表格。)标的资产包括外汇和期货合约以及股票和股指。

一旦两个交易者同意交易交易所提供的产品,它就会由交易所清算所处理。这站在两个交易者之间并管理风险。例如,假设交易者 A 签订一份期货合约,在六个月内从交易者 B 购买 100 盎司黄金$1,750每盎司。这笔交易的结果将是一个有一份从清算所购买 100 盎司黄金的合同$1,750六个月内每盎司,B 有一份合约,向清算所出售 100 盎司黄金$1,750六个月内每盎司。这种安排的好处是交易者不必担心与他们交易的人的信誉。清算所通过要求两个交易者中的每一个向清算所存入资金(称为保证金)来处理信用风险,以确保他们将履行其义务。保证金要求和清算所的运作将在本章中更详细地讨论2.

金融代写|期货期权代写Futures Options代考|OVER-THE-COUNTER MARKETS

并非所有衍生品交易都在交易所进行。许多交易发生在场外交易 (OTC) 市场。银行、其他大型金融机构、基金经理和企业是场外衍生品市场的主要参与者。一旦就场外交易达成一致,双方可以将其提交给中央对手方 (CCP) 或双边清算交易。CCP 就像一个交易所票据交换所。它位于衍生品交易的两方之间,因此一方不必承担另一方违约的风险。当交易以双边方式结算时,双方通常会签署涵盖彼此所有交易的协议。协议涵盖的问题包括可以终止未完成交易的情况,在终止情况下如何计算结算金额,以及如何计算每一方必须过帐的抵押品(如果有)。第 2 章更详细地讨论了中央对手方和双边清算。


在 2007 年开始并在第 8 章中详细讨论的金融危机之前,场外衍生品市场基本上不受监管。在金融危机和雷曼兄弟倒闭之后(参见业务概览 1.1),我们看到了许多影响场外交易市场运营的新法规的发展。法规的主要目标是提高场外交易市场的透明度并降低系统性风险(参见业务概览 1.2)。在某些方面,场外交易市场被迫变得更像交易所交易市场。三个重要的变化是:

  1. 美国两家金融机构之间的标准化场外衍生品必须尽可能在所谓的掉期执行工具 (SEF) 上进行交易。这些平台类似于交易所,市场参与者可以发布买卖报价,市场参与者可以通过接受其他市场参与者的报价进行交易。
  2. 世界大部分地区都要求将 CCP 用于金融机构之间的大多数标准化衍生品交易。
  3. 所有交易都必须报告给中央存储库。
金融代写|期货期权代写Futures Options代考 请认准statistics-lab™

统计代写请认准statistics-lab™. statistics-lab™为您的留学生涯保驾护航。统计代写|python代写代考


在概率论概念中,随机过程随机变量的集合。 若一随机系统的样本点是随机函数,则称此函数为样本函数,这一随机系统全部样本函数的集合是一个随机过程。 实际应用中,样本函数的一般定义在时间域或者空间域。 随机过程的实例如股票和汇率的波动、语音信号、视频信号、体温的变化,随机运动如布朗运动、随机徘徊等等。


贝叶斯统计概念及数据分析表示使用概率陈述回答有关未知参数的研究问题以及统计范式。后验分布包括关于参数的先验分布,和基于观测数据提供关于参数的信息似然模型。根据选择的先验分布和似然模型,后验分布可以解析或近似,例如,马尔科夫链蒙特卡罗 (MCMC) 方法之一。贝叶斯统计概念及数据分析使用后验分布来形成模型参数的各种摘要,包括点估计,如后验平均值、中位数、百分位数和称为可信区间的区间估计。此外,所有关于模型参数的统计检验都可以表示为基于估计后验分布的概率报表。





随着AI的大潮到来,Machine Learning逐渐成为一个新的学习热点。同时与传统CS相比,Machine Learning在其他领域也有着广泛的应用,因此这门学科成为不仅折磨CS专业同学的“小恶魔”,也是折磨生物、化学、统计等其他学科留学生的“大魔王”。学习Machine learning的一大绊脚石在于使用语言众多,跨学科范围广,所以学习起来尤其困难。但是不管你在学习Machine Learning时遇到任何难题,StudyGate专业导师团队都能为你轻松解决。


基础数据: $N$ 个样本, $P$ 个变量数的单样本,组成的横列的数据表
变量定性: 分类和顺序;变量定量:数值
数学公式的角度分为: 因变量与自变量


随机过程,是依赖于参数的一组随机变量的全体,参数通常是时间。 随机变量是随机现象的数量表现,其时间序列是一组按照时间发生先后顺序进行排列的数据点序列。通常一组时间序列的时间间隔为一恒定值(如1秒,5分钟,12小时,7天,1年),因此时间序列可以作为离散时间数据进行分析处理。研究时间序列数据的意义在于现实中,往往需要研究某个事物其随时间发展变化的规律。这就需要通过研究该事物过去发展的历史记录,以得到其自身发展的规律。


多元回归分析渐进(Multiple Regression Analysis Asymptotics)属于计量经济学领域,主要是一种数学上的统计分析方法,可以分析复杂情况下各影响因素的数学关系,在自然科学、社会和经济学等多个领域内应用广泛。


MATLAB 是一种用于技术计算的高性能语言。它将计算、可视化和编程集成在一个易于使用的环境中,其中问题和解决方案以熟悉的数学符号表示。典型用途包括:数学和计算算法开发建模、仿真和原型制作数据分析、探索和可视化科学和工程图形应用程序开发,包括图形用户界面构建MATLAB 是一个交互式系统,其基本数据元素是一个不需要维度的数组。这使您可以解决许多技术计算问题,尤其是那些具有矩阵和向量公式的问题,而只需用 C 或 Fortran 等标量非交互式语言编写程序所需的时间的一小部分。MATLAB 名称代表矩阵实验室。MATLAB 最初的编写目的是提供对由 LINPACK 和 EISPACK 项目开发的矩阵软件的轻松访问,这两个项目共同代表了矩阵计算软件的最新技术。MATLAB 经过多年的发展,得到了许多用户的投入。在大学环境中,它是数学、工程和科学入门和高级课程的标准教学工具。在工业领域,MATLAB 是高效研究、开发和分析的首选工具。MATLAB 具有一系列称为工具箱的特定于应用程序的解决方案。对于大多数 MATLAB 用户来说非常重要,工具箱允许您学习应用专业技术。工具箱是 MATLAB 函数(M 文件)的综合集合,可扩展 MATLAB 环境以解决特定类别的问题。可用工具箱的领域包括信号处理、控制系统、神经网络、模糊逻辑、小波、仿真等。



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