Exchange-Traded Products investing and Precious Metal prices

Exchange Traded Products on the Warsaw Stock Exchange

A dynamic development of financial market is accompanied by the emergence of new products on stock exchanges which give absolutely new possibilities of investing money. Currently, the most innovative financial instruments offered to investors are exchange traded products (ETP). They can be defined as financial instruments whose price depends on the value of the underlying instrument. Thus, they...

Pricing Exchange Traded Funds

Exchange Traded Funds are equity issues of companies whose assets consist entirely of cash and shares of stock approximating particular indexes. These companies resemble closed end funds except for the unique feature that additional shares can be created or redeemed by a number of registered entities. This paper investigates the extent and properties of the resulting premiums and discounts of E...

The Range of Traded Option Prices

Suppose we are given a set of prices of European call options over a finite range of strike prices and exercise times, written on a financial asset with deterministic dividends which is traded in a frictionless market with no interest rate volatility. We ask: when is there an arbitrage opportunity? We give conditions for the prices to be consistent with an arbitragefree model (in which case the...

Real Options, Non-traded Assets and Utility Indifference Prices

Ion Exchange for Recovery of Precious Metals

ith the rapid rise that has occurred in the prices of precious metals during the past few years, recovery of even minute amounts of theseelements has become of greater interest to metal finishers. Although precious metals are recovered easily from concentrated solutions by reduction and precipitation or electrolysis, solutions containing a few parts per million aredifficult to handle by these m...