Chapter 14:Contents 14.1 Distinction Between 14.7 Financial Futures Forward Futures 14.8The“Implied”Riskless Contracts Rate 14.2 The Economic Function of Futures Markets 14.9 The Forward Price is not a Forecast of the Spot Price 14.3 The Role of Speculators 14.10 Forward-Spot Price- 14.4 Relation Between Parity with Cash Payouts Commodity Spot Futures Prices 14.11“Implied”Dividends 14.5 Extracting Information 14.12 The Foreign-Exchange from Commodity Futures Parity Relation Prices 14.13 The Role of Expectations 14.6 Forward-Spot Price Parity in Determining Exchange for Gold Rates .THE COURSE OF FINANCE 2017 SPRING SJTUChapter 14: Contents 14.1 Distinction Between Forward & Futures Contracts 14.2 The Economic Function of Futures Markets 14.3 The Role of Speculators 14.4 Relation Between Commodity Spot & Futures Prices 14.5 Extracting Information from Commodity Futures Prices 14.6 Forward-Spot Price Parity for Gold 14.7 Financial Futures 14.8 The “Implied” Riskless Rate 14.9 The Forward Price is not a Forecast of the Spot Price 14.10 Forward-Spot Price- Parity with Cash Payouts 14.11 “Implied” Dividends 14.12 The Foreign-Exchange Parity Relation 14.13 The Role of Expectations in Determining Exchange Rates