Abstract

Perspectives: Solving the Mystery of Stock Futures

Philip McBride Johnson
Skadden, Arps, Slate, Meagher & Flom LLP

Financial Analysts Journal, Forthcoming

Abstract:
From 1981 until 2000, futures contracts on single stocks and on small-stock indexes were prohibited under a U.S. federal law known popularly as the Shad-Johnson Accord. After 2002, trading was conducted on two newly formed markets; one has already closed, but the other battles on. In this article, one of the Accord's namesakes discusses why these products were banned and why they have struggled since being launched.

Keywords: Derivative instruments, equity derivatives, financial markets, market structure and organizations

Accepted Paper Series

Date posted: June 24, 2005 ; Last revised: June 24, 2005

Suggested Citation

McBride Johnson, Philip, Perspectives: Solving the Mystery of Stock Futures. Financial Analysts Journal, Forthcoming. Available at SSRN: http://ssrn.com/abstract=746568

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Contact Information

Philip McBride Johnson (Contact Author)

Skadden, Arps, Slate, Meagher & Flom LLP ( email )

1440 New York Avenue, NW
Washington, DC 20005-2111
United States