Quiz imd durrr

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Quel est le sous-ensemble dans lequel les marchés dérivés sont organisés?

Marchés internationaux des produits dérivés (correct)

Marchés financiers internationaux

Marchés au comptant

Marchés des matières premières

Quel est le produit dérivé qui offre une protection contre des évolutions défavorables et permet de profiter d'une évolution favorable?

Futures contracts / Contrat à terme

Options (correct)

Forward contracts / Contrat à terme

Swaps

Quel est l'instrument financier dont le prix dépend du prix d'un autre instrument souvent négocié dans le marché au comptant?

Forward contracts / Contrat à terme (correct)

Options

Futures contracts / Contrat à terme

Swaps

Quel est le nom du marché où les contrats à terme sont standardisés?

Marché des contrats Signup and view all the answers

Quelle est la différence entre le prix à terme et le prix au comptant?

La base Signup and view all the answers

Comment appelle-t-on une position d'achat?

Position longue Signup and view all the answers

Quelle est l'évolution de la base dans le temps?

Droite décroissante Signup and view all the answers

Quelle est la fonction principale des marchés dérivés?

Couvrir et gérer les risques Signup and view all the answers

Quelle est la différence entre la spéculation et l'arbitrage sur les marchés dérivés?

La spéculation a pour objectif d'obtenir une rémunération, contrairement à l'arbitrage Signup and view all the answers

Quelle est la fonction assurée uniquement par les marchés organisés?

La découverte des prix Signup and view all the answers

Qu'est-ce que le prix à terme représente?

Le prix anticipé d'un actif à une date future Signup and view all the answers

Quel est le mode de cotation des marchés organisés?

Trading électronique Signup and view all the answers

Quel est le rôle d'une chambre de compensation dans les marchés dérivés?

Assurer la sécurité et la liquidité des échanges Signup and view all the answers

Quel est le marché dérivé le plus important en termes de volume de transactions?

Equity Signup and view all the answers

Quelle est la répartition géographique des échanges en 2010?

40% Asie-Pacifique, 32,2% Amérique du Nord, 19,8% Europe Signup and view all the answers

Quelle est la différence entre les contrats à terme futures et les contrats forwards ?

Les contrats futures sont très standardisés tandis que les contrats forwards ne le sont pas du tout. Signup and view all the answers

Quel est le dénouement le plus courant pour les contrats à terme futures ?

Le cash settlement Signup and view all the answers

Pourquoi la livraison physique est-elle essentielle dans les contrats à terme futures ?

Elle permet d'assurer la convergence de la base entre les deux marchés. Signup and view all the answers

Quelles sont les conséquences d'une opération d'arbitrage entre le marché papier et le marché physique ?

Toutes les réponses ci-dessus. Signup and view all the answers

Qu'est-ce que la volatilité implicite?

La volatilité qui égalise le prix de marché de l’option et son prix théorique. Signup and view all the answers

Qu'est-ce que le marché au comptant?

Un marché où les transactions donnent lieu à un échange immédiat de la marchandise. Signup and view all the answers

Qu'est-ce que le marché à terme?

Un marché où les transactions donnent lieu à un échange différé de la marchandise. Signup and view all the answers

Qu'est-ce qu'une transaction à terme?

Un engagement pour plus tard de livraison et de paiement de marchandises à un prix fixé aujourd'hui. Signup and view all the answers

Quel est le rôle des chambres de compensation dans les marchés à terme?

Fonction de garantie des échanges et fonction de liquidité Signup and view all the answers

Quelle est la principale différence entre le marché spot et le marché à terme?

Le marché spot permet des négociations non standardisées tandis que le marché à terme implique des contrats standardisés Signup and view all the answers

Qu'est-ce que la collatéralisation dans les marchés à terme?

Un système d'appels de marge pour réévaluer les garanties entre les contreparties Signup and view all the answers

Qu'est-ce qui est négociable dans un contrat à terme?

Le prix Signup and view all the answers

According to the text, what is the definition of a derivative product?

A financial instrument with a price that depends on the price of another instrument Signup and view all the answers

According to the text, what are examples of derivative instruments?

Futures contracts, forward contracts, swaps, options Signup and view all the answers

According to the text, how are derivative markets organized?

In two subsets Signup and view all the answers

Which function is NOT fulfilled by derivative markets?

Raising funds Signup and view all the answers

What is the main purpose of derivative markets?

To manage risks Signup and view all the answers

What is the main difference between speculation and arbitrage in derivative markets?

Speculation involves taking risks, while arbitrage involves risk-free transactions Signup and view all the answers

Which function is only provided by organized markets in derivative trading?

Price discovery Signup and view all the answers

Which of the following is a characteristic of the spot market?

Transactions are discussed between parties Signup and view all the answers

What is the main difference between the forward market and the futures market?

Forward contracts have a fixed delivery date, while futures contracts do not Signup and view all the answers

What is the role of a clearinghouse in the futures market?

To eliminate counterparty risk Signup and view all the answers

What is the purpose of collateralization in the forward market?

To manage counterparty risk Signup and view all the answers

Which market is more focused on professional traders and operates through electronic trading?

Futures market Signup and view all the answers

What is the main function of a clearinghouse in derivative markets?

To ensure the security of transactions Signup and view all the answers

Which region had the highest percentage of global exchanges in 2010?

Asia-Pacific Signup and view all the answers

What is the main difference between organized markets and OTC markets?

Organized markets have standardized contracts, while OTC markets have customized contracts Signup and view all the answers

Which one of these accurately describes the forward market?

It is a market where the delivery of goods and payment are deferred to a later date. Signup and view all the answers

What is the main function of forward transactions?

To hedge against price risk. Signup and view all the answers

What is the difference between the spot market and the forward market?

The spot market involves immediate exchange of goods and money, while the forward market involves deferred delivery and payment. Signup and view all the answers

What is the role of a clearinghouse in the forward market?

To guarantee the performance of contracts. Signup and view all the answers

Which one of these is NOT a possible way to settle a futures contract?

Arbitrage between the paper market and the physical market Signup and view all the answers

What is the main purpose of physical delivery in futures contracts?

To ensure the connection between the physical market and the paper market Signup and view all the answers

What is the difference between futures transactions and forward transactions?

All of the above Signup and view all the answers

What is the main function of futures markets?

To facilitate hedging and risk management Signup and view all the answers

Which of the following is true about the creation of futures markets?

Futures markets were created to protect against price fluctuations of agricultural products. Signup and view all the answers

What is the main difference between spot price, forward price, and futures price?

Spot price refers to immediate delivery, forward price refers to delayed delivery, and futures price refers to standardized contracts. Signup and view all the answers

What is the term used to describe the difference between the futures price and the spot price?

The term used to describe the difference between the futures price and the spot price is the base. Signup and view all the answers

What is the term used to describe the number of contracts that have not yet been settled?

The term used to describe the number of contracts that have not yet been settled is open interest. Signup and view all the answers