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jbaldyga

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tT
发表于 2011-7-13 17:02 | 只看该作者

Futures vs Forwards, which is more expensive?

reason, higher, question, which, state
Which is higher in explicit cost? For some reason I thought futures were but I'm seeing in a qbank question that they state forwards are more expensive.

 

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mar350

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发表于 2011-7-13 17:02 | 只看该作者
IMO fwrds are more costly in terms of transaction costs because they are customized. Futures are standarized.

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strikethree

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发表于 2011-7-13 17:02 | 只看该作者
Forwards are generally less liquid since they are customized. This leads to higher transaction costs. Other than liquidity, there isn't any real reason why one would be more expensive than the other.

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Analyze_This

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发表于 2011-7-13 17:02 | 只看该作者
Does the qbank reference an LOS?

Explicit costs include:
- Broker Commission Costs
- Taxes
- Stamp Duties
- Fees Paid to Exchanges

I can't see any of those categories being higher for forwards. Implicit costs could be a different story, though.

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