1.   It is known as a repo rate because it is equivalent to a repurchase agreement with the futures market.

2.   Suppose that an individual can undertake one of the following two investments, one in the cash market and one in the futures market.

3.   It says that the rate of exchange rate appreciation implied by the futures market will equal the difference between US and UK interest rates.

4.   However, it is possible to construct hedges against most exchange risks by using the futures markets.

5.   Perhaps the sheep were monitoring the futures market in wool.

6.   Clearly, the development of futures markets in such countries has to wait until futures contracts are legally enforceable.

7.   The development of the futures market, especially the LIFFE short sterling contract, further enhanced market liquidity.

8.   A futures market in tradeable pollution limits is to be established in Chicago, following earlier moves in California.

9.   The first pollution futures market, trading in permits to pollute, has opened for business in Chicago, where the first trade in permits took place last year.

10.   At the outset, it should be stated that the regulation of the futures markets poses a particular challenge for regulators.