Authors: M Halliwell,

The NYMEX Crude Oil Futures Market – An Analysis of its Performance


  1. Introduction
  2. The Mechanics and the Functions of NYMEX Futures Trading
  3. A Statistical Analysis of the NYMEX Futures Market

a) The Growth of the NYMEX Futures Market

b) The Term Structure of NYMEX Crude Oil Futures Transactions

c) The WTI Spot Price and Term Structure of NYMEX Futures Prices

  1. The Efficient Markets Hypothesis

a)      The Theory of Market Efficiency

b)      Previous Empirical Research

c)      NYMEX Crude Oil Futures and Tests of the EMH

  1. Conclusion