28 Jun ASSIGNMENT, FINANCE AND ACCOUNTING
Assignment, Finance and Accounting
financial derivateves
You believed that the oil price would rise due to a high demand and limited supply. You bought one June oil
future at 1200 on 2nd January 2014 at USD95.00. This initial margin required was USD10,000 and the maintenance
margin is USD8,000. An oil future is for 1,000 barrels Brent. The daily market closing process of Brent crude were as
follows (all figures in USD):-
You sold the future on 16th January 2014 at 1400 for USD87.00
Create a spread sheet showing the daily resettlement cash-flows and when margin calls will be received. How much
money did you make/ lose on this transaction?
Date Settlement price Initial Cash M2M CF Equity MMC Final Cash Final Equity
2 Do some Internet research and list the underlying amount and regular delivery dates of three commodity and three
financial futures at a defined exchange as well as the current price of some examples.
3 What makes up the NYSE, the Wilshire 5000 and the Russell 2000 indices (in general, not a list of their components)?
1 Pick three shares listed on an exchange of your choice and find one week of recent prices for them. Create a market
weighted index and value it throughout the week that you have chosen at the close of each trading day (five days). You
may use software but you must show your working.
2 Alexandras Palace Inc has a share price of $12.00 and 50 million shares in issue. Thelmas Things has a share price of
$7.50 and 70 million shares in issue. Plum Capital LLC has a share price of $13.40 and 60 million shares in issue. Assume
a spot index of 1,000 and a multiplier of 200. Alexandrai Inc will trade ex-dividend at $0.30 a share in 21 days. Thelma
will go ex-dividend ($0.20 a share) in 40 days. Plum Capital is named after a fruit so does not pay dividends. Interest
rates are 6% for all maturities. Establish the futures contract price maturing in 90 days.
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