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Der Börsenterminhandel in Der Bundesrepublik Deutschland

Der Börsenterminhandel in Der Bundesrepublik Deutschland

          
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About the Book

Nach fast vierzigjahriger Unterbrechung wurde im Juli 1970 der Borsenterminhan- del in Aktien an den deutschen Borsen wiederaufgenommen. Die dabei gewiihlte Form des Optionshandels hat im Zusammenhang mit den zunachst gilltigen Sicher- heitsleistungen den Vorteil, daf.\ die Risiken der Kontrahenten begrenzt sind, ein Urn stand, der insbesondere in der Einftihrungsphase von allen beteiligten Kreisen als wesentlich angeftihrt wurde. Inzwischen sind die strengen Sicherheitsanforde- rungen an die Stillhalter durch die Zulassigkeit der sog. Halbdeckung gelockert wor- den. Die Obertragbarkeit von Optionen wurde durch eine begrenzte Standardisie- rung der Ablauftermine verbessert. Der Verfasser hat sich zum Ziel gesetzt, die Entwicklung der Umsatze und der Preise im Optionshandel anhand einer statistischen Analyse zu untersuchen. Was die Umsatzentwicklung betrifft, so kommt der Verfasser zu dem Ergebnis, daf.\ eine im Vergleich zum Kassa-Handel starkere Umsatzausweitung im Optionshandel nicht mehr zu erwarten ist, wenn die gegenwartigen Handelsusancen beibehalten werden. Die bei der Wiederaufnahme des Terminhandels genannten Ziele der Marktverbrei- terung und Kursstabilisierung lassen sich bei dem derzeitigen Umsatz im Optionshan- del kaum realisieren. Was die Preisgestaltung im Optionshandel angeht, so beschiiftigt sich der Verfasser mit Hilfe von Regressionsanalysen vor aHem mit steuerlichen und handelstechni- schen Problemen. Ein Vergleich mit den Usancen im Optionshandel an den ameri- kanischen Optionsborsen und den Terminhandelsformen in europaischen Nachbar- staaten liefert wertvolle Anhaltspunkte, urn die Auswirkungen moglicher Anderun- gen zu beurteilen.


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Product Details
  • ISBN-13: 9783663000266
  • Publisher: Gabler Verlag
  • Binding: Paperback
  • Height: 244 mm
  • No of Pages: 296
  • Series Title: Schriftenreihe Des Instituts Für Kreditwesen Der Westfälisch
  • Sub Title: Eine Statistische Analyse
  • Width: 170 mm
  • ISBN-10: 3663000265
  • Publisher Date: 01 Jan 1978
  • Edition: 1978 ed.
  • Language: German
  • Returnable: N
  • Spine Width: 17 mm
  • Weight: 521 gr


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