{"title":"商品交易的成功标准","authors":"J. Roche","doi":"10.22004/AG.ECON.307624","DOIUrl":null,"url":null,"abstract":"The starting point for this article is the concept of a commodity exchange. A working definition is a physical or – more likely – electronic marketplace for buying, selling and trading commodities, whether ‘hard’ commodities, which typically are natural resources that must be mined or extracted (gold, rubber, oil, etc.), or ‘soft’ commodities, which are mainly agricultural products or livestock (coffee, corn, cotton, sugar, soybeans, etc.). The purpose of the exchange is to provide an organised and reliable marketplace where exchange members can trade commodities on behalf of their clients, which can range from farmers to speculators. Some exchanges trade commodities for spot or forward delivery, whilst others provide futures and options, where deliveries are rare or settlement is in cash (Gross 2014). Most exchanges operate under a national regulatory framework approved by government. Exchanges matter because they act as intermediaries, removing credit risk between their members by interposing themselves between buyers and sellers.","PeriodicalId":45228,"journal":{"name":"African Journal of Agricultural and Resource Economics-AFJARE","volume":null,"pages":null},"PeriodicalIF":0.4000,"publicationDate":"2020-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Success criteria for commodity exchanges\",\"authors\":\"J. Roche\",\"doi\":\"10.22004/AG.ECON.307624\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"The starting point for this article is the concept of a commodity exchange. A working definition is a physical or – more likely – electronic marketplace for buying, selling and trading commodities, whether ‘hard’ commodities, which typically are natural resources that must be mined or extracted (gold, rubber, oil, etc.), or ‘soft’ commodities, which are mainly agricultural products or livestock (coffee, corn, cotton, sugar, soybeans, etc.). The purpose of the exchange is to provide an organised and reliable marketplace where exchange members can trade commodities on behalf of their clients, which can range from farmers to speculators. Some exchanges trade commodities for spot or forward delivery, whilst others provide futures and options, where deliveries are rare or settlement is in cash (Gross 2014). Most exchanges operate under a national regulatory framework approved by government. Exchanges matter because they act as intermediaries, removing credit risk between their members by interposing themselves between buyers and sellers.\",\"PeriodicalId\":45228,\"journal\":{\"name\":\"African Journal of Agricultural and Resource Economics-AFJARE\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":0.4000,\"publicationDate\":\"2020-07-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"African Journal of Agricultural and Resource Economics-AFJARE\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.22004/AG.ECON.307624\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q4\",\"JCRName\":\"AGRICULTURAL ECONOMICS & POLICY\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"African Journal of Agricultural and Resource Economics-AFJARE","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.22004/AG.ECON.307624","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"AGRICULTURAL ECONOMICS & POLICY","Score":null,"Total":0}
The starting point for this article is the concept of a commodity exchange. A working definition is a physical or – more likely – electronic marketplace for buying, selling and trading commodities, whether ‘hard’ commodities, which typically are natural resources that must be mined or extracted (gold, rubber, oil, etc.), or ‘soft’ commodities, which are mainly agricultural products or livestock (coffee, corn, cotton, sugar, soybeans, etc.). The purpose of the exchange is to provide an organised and reliable marketplace where exchange members can trade commodities on behalf of their clients, which can range from farmers to speculators. Some exchanges trade commodities for spot or forward delivery, whilst others provide futures and options, where deliveries are rare or settlement is in cash (Gross 2014). Most exchanges operate under a national regulatory framework approved by government. Exchanges matter because they act as intermediaries, removing credit risk between their members by interposing themselves between buyers and sellers.
期刊介绍:
The African Journal of Agricultural and Resource Economics (AfJARE)/Journal Africain d’Economie Agricole et des Ressources (JAEAR) is a publication of the African Association of Agricultural Economists (AAAE). The journal publishes original research about how African agriculture interacts with local and global economic systems and policy regimes in its impacts upon people. The scope of the journal covers the roles of markets, technology, policy, institutions and the natural environment in shaping the lives of well being of Africans engaged in agricultural activities. The journal strives to nurture and enhance the capacity of African professionals to conduct and publish scientific research and provides a venue for communicating and disseminating their findings. Multi-disciplinary, problem-oriented articles are encouraged. Submissions may deal with teaching, research extension, consulting, advising, entrepreneurship and administration. The Chief Editors and Editorial Board, under the general direction of the AAAE President, Executive Committee and Council are charged with implementing Journal policy to serve members of AAAE. The main section of the journal publishes technical research articles while a small section is devoted to publishing brief notes with important policy content and book reviews. The journal is a quarterly publication.