ASSESSMENT OF EXCHANGE TRADING IN AGRICULTURAL DERIVATIVE CONTRACTS ON INTERNATIONAL ORGANIZED COMMODITY MARKETS
DOI:
https://doi.org/10.32782/2786-8273/2025-9-13Keywords:
exchange trading, derivative contracts, agricultural products, international organized commodity markets, commodity exchangesAbstract
Introduction. The article highlights the prerequisites for the emergence of international exchange trading in derivative contracts for agricultural products. Purpose of the study is to assess the current state of exchange trading in derivative contracts for agricultural products. Methods. The article applies methods of generalization, observation and comparison when studying trends in international exchange trading in derivative contracts on organized markets, as well as analysis and synthesis and statistical research methods when studying the dynamics and structure of exchange trading in derivative contracts for agricultural assets on international exchanges. Results. It is noted that an important role in the formation of international exchange trading in derivative contracts for agricultural products was played by the US commodity exchanges. It is noted that the Settlement method of closing futures contracts on commodity exchanges became an impetus for the rapid development of further trading in derivative contracts. Exchange trading in derivative contracts on international organized markets in the last twenty years has been developing and improving depending on the changing needs of market participants in the following areas. The assessment showed that since 2014, the volume of international trading on derivatives exchanges has increased 9.4 times. In 2024, a new maximum volume of exchange trading in derivatives contracts on international exchanges was recorded – 206.78 billion transactions. It is noted that exchange trading in derivative contracts for agricultural products is also characterized by stability and insignificant annual growth over the past 10 years. Conclusion. From 2014 to 2024, the volume of concluded exchange derivatives for agricultural products increased by 2.15 times. An assessment of the structure of international exchange trading in agricultural assets in 2024 indicates a significant role for derivative contracts for oilseeds (41.6%) and for various types of oil (16.6%). Other types of agricultural assets in the overall structure of international exchange trading in agricultural assets ranged from 0.7% to 5.9%. The main trends in international exchange trading in derivative contracts are noted: universalization, concentration, consolidation.
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