التداول بالعقود المستقبلية للتحوط من مخاطر تقلبات الأسعار- بالتطبيق على عينة من الشركات المدرجة في سوق العراق للأوراق المالية

الملخص EN

The research focused on how the Iraqi Stock Exchange adopted a system of dealing with future contracts as part of the innovations of financial engineering in modern financial thought, for speculation and risk hedging using pricing and determining future contracts for a number of assets, including foreign currencies, individual stocks and market index, for a sample of Iraqi companies and banks.

Therefore, the research aims to provide empirical evidence to determine the importance of the value of future contracts by reading the financial phenomenon, in order to achieve stability in the duality of return and investment risk and to build tests for simple strategies for future contracts, to clarify the mechanism of measuring the hedging portfolio and dealing in foreign currency by relying on the literature in this field .

In order to test the research hypotheses, transactions in future contracts were determined for a sample of 10 companies and banks listed in the Iraqi market that were randomly selected., as well as using the data of the Central Bank to determine the average exchange rates for foreign currencies for the period from the beginning of 2022 until the middle of 2022.

and in line with that The research indicated a test to assess the importance of future contracts as a link to changes in the value of assets and the available opportunities for hedging against risks.

The exchange rate of the Iraqi dinar against the dollar, and the research suggests, given what the sale or purchase price of the future contract represents in any financial market, the essence of the entire investment process, as it reflects the summary of the interaction of a group of different variables, taking advantage of these contracts for all relevant parties in the financial market as a signal Informational in nature that honestly expresses the fair value of any asset in the market.