The SIMEX Dubai crude oil futures contract : a post mortem

The SIMEX Dubai crude oil futures contract stopped trading on the 28th of June 1991. This thesis analyzed the reasons for the failure of the contract. A framework for discussion was set by reviewing various theories and empirical studies on the prerequisites for contract success. The thesis than reviewed in depth, the characteristics of the SIMEX contract in it's ability to attract (i) hedgers and (ii) speculators. The thesis also reviewed the possibility of other established hedging instruments acting as a hinderance to the development of the SIMEX contract. A special emphasis was placed on the Derivative Markets and the IPE Brent futures contract as competitors to the SIMEX contract