White Papers

Mechanics of commodity future markets
Most people have the impression that commodity markets are very difficult to understand, but in fact they are not. There are many basic things one must know and once these basic concepts are clear the rests seems to be easy.

Sun designs and builds online trading system
In Korea today, a phenomenal 70 percent of stock trades are made online - a trend that brings smiles to the 1,430 employees at HyunDai Investment & Securities Company, Ltd. (HyunDai). The company had attempted to build a cyber trading system in the past, but experienced frustrating delays and cost overruns.

Expensing employee stock options
The debate over the expensing of employee stock options (ESOs) has been intense in recent years. The two central question of this debate - namely, whether employee stock options should be expensed in the issuing firm's GAAP accounts, and if so, which quantitative model should be used for that purpose - remain hotly contested.

Upfront: Stock Options Down But Not Out
Although stock-option grants have become more costly since expensing them was mandated, they still might be a good deal. A June report by Watson Wyatt Worldwide finds that the number of stock options awarded to CEOs declined 16 percent this year, accelerating 2004's 7 percent decline.