March/April 2008 Futures Industry 
by Galen Burghardt
More than 15 billion futures and options contracts changed hands during 2007 on the 54 exchanges that report to the FIA, an increase of 28% on the previous year. That is a remarkable increase for any year, and what's even more impressive is that the growth rate is actually accelerating.
by Sherree DeCovny
In the highly competitive world of U.S. equity options trading, some exchanges are experimenting with new models for setting transaction fees as a way to gain a greater share of the market. Two exchanges have implemented the maker-taker model for pricing, and a third is preparing to do the same.
by David Adam
Happy Anniversary! With little fanfare, the CME Group is celebrating the 20th anniversary of the launch of Standard Portfolio Analysis of Risk. The SPAN methodology for evaluating risk and calculating margin requirements revolutionized futures and options risk management when it was introduced and today serves as an industry standard around the world.
STANS: OCC’s Model for Calculating Margin Requirements
by David Adam
In August 2006, the Options Clearing Corp. introduced a new statistical approach for calculating margin risk. The System for Theoretical Analysis and Numerical Simulations (STANS) methodology provides margin calculations that are more precise, more realistic, and more consistent across portfolios than its older counterpart, the Theoretical Intermarket Margining System (TIMS).
by Lauren Teigland-Hunt
In October 2007, the Indian securities regulator abruptly imposed drastic limits on the use of "participatory notes," an instrument widely used by hedge funds and other offshore investors to access India's markets.
by Patrick Catania
With international wheat prices reaching record levels, the government of India faces a difficult decision: when is the best time to buy foreign wheat in order to meet shortfalls in domestic production? One solution is to use futures and options to hedge the risk of unexpected price movements.
by Bennett Voyles
ICE Heads North
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