KARATERISTIK DAN MEKANISME PERDAGANGAN CONTRACT FOR DIFFERENCE (CFD) SEBAGAI ALTERNATIF INVESTASI KEUANGAN (Studi Kasus Pada Pasar Derivatif di Australia)

2015 ◽  
Vol 8 (1) ◽  
pp. 25
Author(s):  
Novi Wulandari Widiyanti

The paper exploresthe nature of CFDs as a derivative and CFDs as hedging instrumentin derivatif markets in Australia. It argues that CFDis leveraged instrument, which means they offer the potential to make a higher return from a smaller initial investment relative to the total position value. Using CFD, we can obtain full exposure to a share or commodity for a fraction of the price of buying the underlying asset. The higher percentage return from the CFD demonstrates how leverage can work. The writer presents two parts in describing CFD’s nature and trading mechanism which are:the nature of the CFDs, which include CFDs’ characteristics and how they are traded. This part will focus on equity CFDs which underlying instrument is stocks. The second part will be an application of delta neutral hedging of long stock position by using and option compare to CFDs. Keywords: derivatif instrument, CFD, underlying asset, hedging, long position, short position

2018 ◽  
Author(s):  
V.A. Borisov ◽  
I.Yu. Vasjuchkov ◽  
A.A. Kolomiets ◽  
O.N. Uspenskaya ◽  
A.V. Kornev

Установлено, что на пойменных почвах использование методов диагностики минерального питания растений моркови «по почве» и «по черешку» в фазу начала образования корнеплодов позволяет значительно (на 36–42%) снизить расход минеральных удобрений, обеспечивая урожайность моркови на уровне 70 т/га с долей стандартной продукции 78–81% без существенного изменения качества корнеплодов.It was found that in floodplain soils, the use of methods of diagnosis of mineral nutrition of carrot plants «on the soil» and «on the petiole» in the phase of the beginning of the formation of root crops can significantly (by 36–42%) reduce the consumption of mineral fertilizers, ensuring the yield of carrots at the level of 70 t/ha with a share of standard production of 78–81% without significantly changing the quality of root crops.


2020 ◽  
Vol 11 (2) ◽  
pp. 16-27
Author(s):  
L. M. Danets ◽  
I. V. Tkachova ◽  
V. P. Shablia

The duration of productive use is a complex integral feature and is determined by both genetic and paratypical factors. This feature should ensure maximum milk productivity of animals, economic efficiency of dairy farms and generally limit the cost of raising and keeping cows. Research conducted in the experimental farms of state enterprises "Kutuzovka", Kharkov district of Kharkov region using cow’s Ukrainian black-and-white dairy breed (4038 cows). We studied the duration of productive use of cows divided into gradations according to the conditional bloodline for the Holstein breed, depending on the weight in the control age periods of cultivation (at birth, at 6, 12 and 18 months). The maximum value of the duration of productive use was recorded in the group of cows with a share of conditional blood for the Holstein breed up to 30% inclusive (the average duration of productive use is 2.77 lactations). The highest indicator of the duration of productive use of the studied animals was 4.09 lactations. Among cows with a share of conditional blood for the Holstein breed up to 30% longer produced those born with a weight of more than 40 kg (4.09 lactations), at 6 months of age weighed 100-149 kg, at 12 months – 200-249 kg, at 18 months of age – 350-399 kg. Among animals with a share of bloodline of 31-60 %, those that had a weight at the age of 6 months produced the longest: 155-190 kg (3.17 lactations), at 12 months – 250-299 kg (2.98 lactations), at 18 months – 350-399 kg (3.06 lactations). In the most numerous gradation with the share of bloodline for the Holstein breed 61-90 %, the longest productive use was characterized by animals born with a weight of 30-39 kg (2.12 lactation), at 6 months of age they weighed more than 200 kg (3.29 lactation), at 12 months-300-349 kg (3.40 lactation), at 18 months – 400-449 kg (2.82 lactation). The average duration of productive use of cows of this grade is quite low – in the range of 2.82-3.29 lactations. The highest degree of influence on the duration of productive use in this gradation of animals was recorded by the live weight factor at 6 months of age (η2 = 10.8). Сcomparative assessment of the cows gradation with a share of conditional blood for the Holstein breed of 91 % or more found that the longest productive use was characterized by cows that had a live weight at birth of 30-39 kg (1.93 lactation), in 6 months – 155-199 kg (2.73 lactation), in 12 months – 250-299 kg (2.87 lactation) and in 18 months – 350-399 kg (2.62 lactation). The degree of influence of live weight at this age on the duration of productive use of cows is insignificant, except for live weight at 6 months of age (η2 = 11.8).


2020 ◽  
Vol 15 (1) ◽  
Author(s):  
Rahma Yudi Astuti ◽  
Asad Arsya Brilliant Fani

Sukuk and Bonds has differences and similarities. Fundamental differences between sukuk and bonds are first, underlying asset in every sukuk issuance, concept of profit loss sharing and the use of Islamic contracts. Whereas conducted research in practice of differences between sukuk and bonds are still an on-going discussion. This study aims to add the evidence in the discussion regarding whether there is differences between sukuk and bonds in the world of practice, provide investment preferences as well as educating investors in choosing sukuk or bonds as a sustainable and smooth instrument. The method used is Mann Whitney U-Test to test whether there is a different between yield to maturity (return) and standard deviation (risk) of both instruments. Using secondary data of Retail Sukuk (SR) and Retail Bonds (ORI) period 2008-2017 obtained from Indonesia Stock Exchange, Indonesia Bond Market Directory and Indonesia Bond Pricing Agency. The result shows that there is no significance difference of retail sukuk return and risk with retail bonds in Indonesia. Besides retail bonds are show higher return than retail sukuk because of higher coupon and longest mature date. While, retail sukuk is more stable rather than bonds as it backed up by the real underlying asset. Keywords: Retail Sukuk (SR), Retail Bonds (ORI), Yield to Maturity


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