ANALYTICAL ASSESSMENT OF EXCHANGE TRADING IN DERIVATIVE CONTRACTS ON EUROPEAN ORGANIZED COMMODITY MARKETS

Abstract

The article defines the features of the functioning and development of European organized commodity markets and the main types of derivative contracts used in their practice. It is noted that the history of the formation of exchange trading in derivative contracts on European organized commodity markets is considered the oldest in the world. It was the European commodity and stock exchanges that became key in shaping the world history of exchange activity. Today, the leading international derivatives exchanges are located in the UK, France, Germany and other European countries. An analytical assessment of the main indicators of exchange trading in derivative contracts on European organized commodity markets is carried out in order to determine the current state and prospects for its development in the context of globalization and increasing price instability. The analysis revealed that since the beginning of the war in Ukraine, the volume of exchange trading in derivative contracts in Europe in 2022 and 2023 has significantly decreased (by an average of 13%) and only in 2024 did the volumes of concluded transactions on European exchanges recover to the pre-war level and even increase slightly compared to 2023 - by 14%, and since 2021 - by 2%. The importance of using exchange-traded derivative contracts of European organized commodity markets in price formation and forecasting price conditions is noted. The structure of exchange trading in derivative contracts on European organized commodity markets is determined by types of exchange transactions and assets. A comparative analysis of the growth rates of financial and commodity derivative contracts on European exchanges is presented. Research on exchange trading by type of financial assets on European exchanges over the past five years shows significant growth in the interest rate group – up to 31% in 2024. Analysis of statistical data indicates that in 2024, a 31% increase in trading in commodity derivative contracts on European organized commodity markets was recorded compared to the previous year. Trends in European exchange trading in derivative contracts on organized commodity markets are analyzed.