search query: @indexterm Cash management / total: 201
reference: 27 / 201
Author: | Pirrong, C. |
Title: | Manipulation of cash-settled futures contracts |
Journal: | Journal of Business
2001 : APR, VOL. 74:2, p. 221-244 |
Index terms: | CASH MANAGEMENT FUTURES MARKETS SETTLEMENT SYSTEMS |
Language: | eng |
Abstract: | Replacement of delivery settlement of futures contracts with cash settlement is frequently proposed to reduce the frequency of market manipulation. This article shows that it is always possible to design a delivery-settled futures contract that is less susceptible to cornerning by a large long than any given cash-settled contract. Such a contract is more susceptible to manipulation by large shorts, however. |
SCIMA