EVALUATION OF INTERNATIONAL EXCHANGE TRADING IN DERIVATIVE CONTRACTS ON ORGANIZED COMMODITY MARKETS

Abstract

The article examines the main indicators of the derivatives international exchange trading. Attention is drawn to globalization transformations and geopolitical instability, which directly affect the functioning of international organized commodity markets. The long-term evolution of exchange trading in derivative contracts is determined, which led to the improvement of exchange trading technologies and the standardization of the parameters of derivative contracts. It is noted that derivative contracts initially arose to create favorable conditions for hedging price risk, and later became effective instruments of speculation and forecasting price conditions. In order to assess exchange trading in derivative contracts on international exchanges, we used statistical reports of the international exchange association - Futures Industry Association. As a result of the dynamics derivative international exchange trading volumes analysis, a new maximum was recorded, in particular, in 2024, the volumes of trading in derivative contracts on international exchanges amounted to 206.78 billion transactions, which is 51% higher than the previous year. It is noted that this increase was associated with the activities of exchanges in the Asian region, the share of which has increased significantly over the past decade. It was established that the rapidly growing international exchange markets for derivative contracts currently include the exchanges of India and China. An assessment of international exchange trading in derivative contracts by type of assets showed a significant advantage of trading in financial assets on international exchanges. In 2024, the number of concluded exchange-traded derivatives on financial assets increased to 194.4 billion transactions, which is 55% higher than the previous year and almost 5.2 times more than in the last 5 years, while the number of concluded derivative contracts on commodity assets amounted to only 12.4 billion transactions, which is 3.3% higher than in the previous year and 1.3 times more than in the last five years. The main directions of development of international exchange-traded derivative contracts on organized commodity markets are highlighted.