Derivative financial instruments on the russian grain market

Issue № 5, 2019, article № 8, pages 62-69

Section: Economics of agribusiness sectors

Language: Russian

Original language title: ПРОИЗВОДНЫЕ ФИНАНСОВЫЕ ИНСТРУМЕНТЫ НА РЫНКЕ ЗЕРНА РОССИИ

Keywords: DERIVATIVES, GRAIN EXCHANGE, HEDGING, DERIVATIVES MARKET, FINANCIAL RISKS

Abstract: The article discusses ways to manage the financial risks of grain producing enterprises using derivative financial instruments. The history of the Russian and world derivatives market formation is considered. The types of derivatives were studied, their main features were identified, and their classification was made. The market of US futures contracts for the period from 1980 to 2018 was considered, its volumes were studied, classification of futures contracts was made, and the dynamics of the trading exchange structure by types of futures contracts were studied. The Russian futures market is considered. Moscow Exchange futures and options trading statistics for the period from 2009 to 2018 is given. The structure of exchange trading by type of futures is considered. The structure of the NTB grain trade with the use of derivative financial instruments has been studied, ranging from the introduction of deliverable futures in 2008 to the introduction offorward and swap transactions in 2015-2016. Analyzed the stages of organized commodity market development. The main possible reasons that may further hinder the development of a grain exchange are considered.

Authors: Araslanov Roman Ravilovich