Modeling futures market risk simultaneously influenced by macro low-frequency information and daily risk factors is a valuable challenge. We propose a new general framework for it based on the flexible GARCH-MIDAS model. It uses a skewed t distribution to describe the asymmetry of long and short...

Financial derivatives markets are a relatively new development globally. In the USA, the first commodity derivatives trading began in Chicago at the Chicago Board of Trade in 1849. However, the first financial derivatives trading did not begin until 1972, when the Chicago Mercantile Exchange...

While China is currently moving toward the full development of its own financial derivatives markets, to date, China's experience with these has been a negative one. This paper examines the importance to China of developing a fully integrated financial derivatives market from both the economic...