Abstract
This study, using a dataset from the Options Clearing Corporation, examines the type of investor that aided in the development of single-stock futures. In March 2005, OneChicago instituted a discounted trading fee program for its member firms that is attributed as a primary reason that the depth and breadth of single-stock futures trading by institutions has increased so dramatically above the trading volume of individuals, who were primarily responsible for the market's initial growth.
- © 2007 Pageant Media Ltd
Don’t have access? Register today to begin unrestricted access to our database of research.