@MISC{Daigler91thespeculative, author = {Robert T. Daigler}, title = {THE SPECULATIVE AND HEDGING STRUCTURE OF FINANCIAL FUTURES CONTRACTS}, year = {1991} }
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Abstract
1 1 One aspect of the jurisdictional dispute between the CFTC and the SEC over the control of stock index futures concerns margins. The SEC would like to increase margins on stock index futures, which is a direct result of the critics contention that futures cause the cash stock market to be more volatile. This contention is directly related to the "speculative influence " of stock index futures. THE SPECULATIVE AND HEDGING STRUCTURE OF FINANCIAL FUTURES CONTRACTS I.