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eBook details

• Title: Evidence of Informed Trading in Single Stock Futures Market in the National Stock Exchange of India Ltd.
• Author : Indian Journal of Economics and Business
• Release Date : January 01, 2009
• Genre: Business & Personal Finance,Books,
• Pages : * pages
• Size : 273 KB

Description

Abstract This paper examines the role of Single Stock Futures (SSF) market in the National Stock Exchange(NSE) of India ltd. in facilitating trading for investors with better information with respect to the fundamentals of securities traded. Given the leverages of trading in the derivatives market, the informed traders are expected to migrate to the futures market. In that case, the direction of causality would be from futures market to spot market. This causal relationship between spot and futures market is analyzed by using the Granger causality test. The results, in general, show that SSF market leads spot market and trading volume of futures market contains useful information for market participants.

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