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== Kontrak berjangka dan bursa ==
{{main|Bursa berjangka}}
Terdapat banyak macam kontrak berjangka yang mencerminkan jenis yang berbeda-beda dari aset acuan yang digunakan sebagai [[derivatif]] seperti misalnya :
* [[Bursa komoditi]]
* [[Bursa valuta asing]]
* [[Pasar keuangan|Pasar uang]]
* [[BondPasar marketobligasi]]
* [[EquityDerivatif derivativeekuiti|EquityPasar indexindeks marketekuiti]]
* [[SoftPasar Commoditieskomoditi marketlunak]]
Perdagangan [[komoditi]] diawali di [[Jepang]] pada abad ke 18 dengan memperdagangkan [[beras]] dan [[sutra]], lalu perdagangan serupa terjadi pula di [[Belanda]] dengan memperdagangkan [[tulip]] .
Trading on [[commodity|commodities]] began in Japan in the 18th century with the trading of rice and silk, and similarly in Holland with tulip bulbs. Trading in the US began in the mid 19th century, when central grain markets were established and a marketplace was created for farmers to bring their commodities and sell them either for immediate delivery (also called spot or cash market) or for forward delivery. These forward contracts were private contracts between buyers and sellers and became the forerunner to today's exchange-traded futures contracts. Although contract trading began with traditional commodities such grains, meat and livestock, exchange trading has expanded to include metals, energy, currency and currency indexes, equities and equity indexes, government interest rates and private interest rates.
Di [[Amerika]] diawali pada pertengahan abad ke 19 sewaktu pasar utama [[gabah]] dibentuk dan pasar tempat perdagangan didirikan bagi para petani untuk membawa komoditi mereka dan menjualnya baik dengan cara penyerahan segera maupun penyerahan kelak.
Kontrak berjangka ini merupakan kontrak privat antara penjual dan pembeli dan menjadi cikal bakal dari kontrak berjangka yang diperdagangkan hari ini.
Walaupun kontrak berjangka diawali dengan perdagangan komoditi tradisional seperti [[gabah]], daging, ternak, perdagangan berjangka telah diperluas hingga termasuk pada [[metal]], [[energi]], [[mata uang]] dan indeks mata uang, [[ekuiti]] dan indeks ekuiti, suku bunga pemerintah dan suku bunga privat.
ContractsKontrak onatas financialinstrumen instrumentsfinansial wasmulai introduceddiperkenalkan inpada thetahun 1970s1970an by theoleh [[Chicago Mercantile Exchange]](CME) anddan theseinstrumen instrumentsini becamemenjadi hugelysangat successfulbesar anddan sukses serta dengan cepat mengambil quicklyalih overtookperan commoditieskomoditi futuresdalam inperdagangan termsberjangka ofdalam tradingartian volume anddan akses pasar global. accessibilityInovasi toini themembawa markets.pada Thisperkenalan innovationlebih ledlanjut toatas thebanyak introductionsekali ofbentuk manyperdagangan newberjangka futuresbaru exchangeslainnya worldwide,diseluruh suchdunia asseperti themisalnya [[London International Financial Futures and Options Exchange|London Internationalyang Financialdiperkenalkan Futurespada Exchangetahun [[1982]] in(sekarang 1982 (nowbernama [[Euronext.liffe]]), Deutsche Terminbörse (nowsekarang [[Eurex]]) and thedan [[Tokyo Commodity Exchange]] (TOCOM). Today,Hingga therehari areini moreterdapat thansebanyak 75lebih futuresdari and75 futures[[bursa options exchangesberjangka]] worldwidediseluruh tradingdunia totermasuk include:
* [[CME Group]] (formerlypenggabungan CBOT anddan CME) -- Currenciesmata uang, Variousaneka Interestkurs Ratesku derivativesbunga derivatif (includingtermasuk USobligasi BondsAmerika); Agriculturalpertanian (Corn[[jagung]], Soybeans[[kedelai]], Soyproduk Productsyang berasal dari kedelai, Wheat[[gandum]], Pork[[babi]], Cattleternak sapi, Buttermentega, Milksusu); IndexIndeks ([[Dow Jones Industrial Average]]); Metalsmetal (Gold[[emas]], Silver[[perak]]), IndexIndeks ([[NASDAQ]], [[S&P]], etcdll)
* ICE Futures - the International Petroleum Exchange trades(IPE) energymemperdagangkan includingenergi termasuk [[crudeminyak oilmentah]], heatingminyak oilbakar, [[natural gas alam]] anddan unleadedbensin gastanpa andtimbal mergeddan withIPE ini melakukan penggabungan usaha dengan IntercontinentalExchange(ICE)to formuntuk membentuk ICE Futures.
* [[Euronext.liffe]]
* [[Sydney Futures Exchange]]
* London Commodity Exchange - softs:gandum grainsdan and meatsdaging. Inactive market in [[Baltic Exchange]] shipping.
* [[Tokyo Commodity Exchange]] TOCOM
* [[London Metal Exchange]] - metalsmetal: [[coppertembaga]], [[aluminium]], [[leadtimbal]], [[zincseng]], [[nickelnikel]] anddan [[tintimah]].
* [[New York Board of Trade]] - softs: [[cocoakakao]], [[coffeekopi]], [[cottonkatun]], [[orangejus juicejeruk]], [[sugargula]]
* [[New York Mercantile Exchange]] - energyenergi anddan metalsmetal: [[crudeminyak oilmentah]], [[gasolinebensin]], [[heatingminyak oilbakar]], [[natural gas alam]], [[coalbatu bara]], [[propanepropana]], [[goldemas]], [[silverperak]], [[platinum]], [[coppertembaga]], [[aluminum]] anddan [[palladiumpaladium]]
* [[Futures exchange]]
* OneChicago Futures on many [[Single-stock futures]]
== WhoPedagang tradesperdagangan futures?berjangka ==
Pedagang pada perdagangan berjangka umumnya dikelo0mpokkkan kedalam dua kelompok yaitu :
Futures traders are traditionally placed in one of two groups: [[hedging|hedger]]s, who have an interest in the underlying commodity and are seeking to ''hedge out'' the risk of price changes; and [[speculator]]s, who seek to make a profit by predicting market moves and buying a commodity "on paper" for which they have no practical use.
*[[lindung nilai|Pelaku lindung nilai]], yang memiliki kepentingan pada aset acuan dan mencari cara untuk melindungi resiko atas perubahan harga .
*[[Spekulator]], yang mencari cara untuk memperoleh keuntungan dengan cara melakukan prediksi atas pergerakan pasar dan melakukan pembelian komoditi diatas kertas dimana sebenarnya mereka tidak membutuhkan komoditi tersebut.
== Opsi berjangka==
Hedgers typically include producers and [[consumer]]s of a commodity.
Dalam banyak kasus, ''[[Opsi (keuangan)|opsi]]'' diperdagangan secara berjangka. [[Opsi (keuangan)#Opsi jual|Opsi jual]] atau dikenal dengan istilah ''put option'' adalah opsi untuk menjual suatu kontrak berjangka dan [[Opsi (keuangan)#Opsi beli|opsi beli]] adalah opsi untuk membeli suatu kontrak berjangka.
== Kontrak berjangka di Indonesia ==
For example, in traditional [[commodities market]]s, [[farmer]]s often sell futures contracts for the crops and livestock they produce to guarantee a certain price, making it easier for them to plan. Similarly, livestock producers often purchase futures to cover their feed costs, so that they can plan on a fixed cost for feed. In modern (financial) markets, "producers" of interest rate swaps or [[equity derivative]] products will use financial futures or equity index futures to reduce or remove the risk on the swap.
{{main|Bursa Berjangka Jakarta}}
Perdagangan berjangka di Indonesia dilakukan pada Bursa Berjangka Jakarta yang didirikan pada tanggal 21 November 2000 dan mulai resmi melakukan perdagangan pertamanya sejak tanggal 15 Desember 2000.
The social utility of futures markets is considered to be mainly in the transfer of risk, and increase liquidity between traders with different risk and time preferences, from a hedger to a speculator for example.
Pengawasan atas kegiatan perdagangan berjangka [[komoditi]] di [[Indonesia]] dilakukan oleh [[Badan Pengawas Perdagangan Berjangka Komoditi]] (BAPEBTI).
== Options on futures ==<!-- This section is linked from [[Put option]] -->
In many cases, ''[[Option_(finance)|options]]'' are traded on futures. A [[put option|put]] is the option to sell a futures contract, and a [[call option|call]] is the option to buy a futures contract. For both, the option [[strike price]] is the specified futures price at which the future is traded if the option is exercised. See the [[Black model]], which is the most popular method for pricing these option contracts.
== FuturesLihat Contract Regulationspula ==
*[[Bursa berjangka]]
All futures transactions in the [[United States]] are regulated by the [[Commodity Futures Trading Commission]] (CFTC), an [[Independent Agencies of the United States Government|independent agency]] of the [[United States Government]]. The Commission has the right to hand out [[fines]] and other punishments for an individual or company who breaks any rule. Although by [[law]] the commission regulates all transactions, each exchange can have its own rule, and under contract can fine companies for different things or extend the fine that the CFTC hands out.
*[[Bursa komoditi]]
*[[Bursa Efek Jakarta]]
*[[Bursa Efek Surabaya]]
*[[Komoditi]]
*[[Resi gudang]]
*[[Derivatif]]
*[[Badan Pengawas Perdagangan Berjangka Komoditi]]
==Pranala luar==
The CFTC publishes weekly reports containing details of the open interest of market participants for each market-segment, which has more than 20 participants. These reports are released every Friday (including data from the previous Tuesday) and contain data on open interest split by reportable and non-reportable open interest as well as commercial and non-commercial open interest. This type of report is referred to as 'Commitments-Of-Traders'-Report, COT-Report or simply COTR.
== See also ==
*[[List of finance topics]]
*[[Agriculture]]
*[[Freight derivatives]]
*[[Seasonal spread trading]]
*[[Prediction market]]
*[[1256 Contract]]
*[[Paper trading]]
==References==
* http://www.investorwords.com/5579/forward_price.html
* http://www.riskglossary.com/link/convexity_bias.htm
*Arditti, Fred D., 19nn. ''Derivatives: A Comprehensive Resource for Options, Futures, Interest Rate Swaps, and Mortgage Securities''. Harvard Business School Press. ISBN 0-87584-560-6.
*[[http://eh.net/encyclopedia/article/Santos.futures Joseph Santos, A History of Futures Trading in the United States]]
== Futures Exchanges & Regulators ==
*[http://www.cbot.com/cbot/pub/page/0,3181,1059,00.html Chicago Board of Trade Glossary]
*[http://www.cme.com/glossary Chicago Mercantile Exchange Glossary]
*[http://www.kcbt.com/trading_basics.html Kansas City Board of Trade]
== ExternalCatatan linkskaki ==
{{reflist}}
[[Kategori:Bursa berjangka]]
[[Category:Derivatives]]
[[Kategori:Derivatif]]
[[be-x-old:Ф'ючарс]]
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