id sid tid token lemma pos work_baot2k5cxrbyrdf3wr5qkria7e 1 1 Market market NN work_baot2k5cxrbyrdf3wr5qkria7e 1 2 quality quality NN work_baot2k5cxrbyrdf3wr5qkria7e 1 3 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 1 4 price price NN work_baot2k5cxrbyrdf3wr5qkria7e 1 5 discovery discovery NN work_baot2k5cxrbyrdf3wr5qkria7e 1 6 : : : work_baot2k5cxrbyrdf3wr5qkria7e 1 7 Introduction introduction NN work_baot2k5cxrbyrdf3wr5qkria7e 1 8 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 1 9 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 1 10 E e NN work_baot2k5cxrbyrdf3wr5qkria7e 1 11 - - HYPH work_baot2k5cxrbyrdf3wr5qkria7e 1 12 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 1 13 energy energy NN work_baot2k5cxrbyrdf3wr5qkria7e 1 14 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 1 15 Market market NN work_baot2k5cxrbyrdf3wr5qkria7e 1 16 quality quality NN work_baot2k5cxrbyrdf3wr5qkria7e 1 17 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 1 18 price price NN work_baot2k5cxrbyrdf3wr5qkria7e 1 19 discovery discovery NN work_baot2k5cxrbyrdf3wr5qkria7e 1 20 : : : work_baot2k5cxrbyrdf3wr5qkria7e 1 21 Introduction introduction NN work_baot2k5cxrbyrdf3wr5qkria7e 1 22 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 1 23 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 1 24 E e NN work_baot2k5cxrbyrdf3wr5qkria7e 1 25 - - HYPH work_baot2k5cxrbyrdf3wr5qkria7e 1 26 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 1 27 energy energy NN work_baot2k5cxrbyrdf3wr5qkria7e 1 28 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 1 29 Yiuman Yiuman NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 30 Tse Tse NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 31 * * NFP work_baot2k5cxrbyrdf3wr5qkria7e 1 32 , , , work_baot2k5cxrbyrdf3wr5qkria7e 1 33 Ju Ju NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 34 Xiang Xiang NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 35 Department Department NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 36 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 1 37 Finance Finance NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 38 , , , work_baot2k5cxrbyrdf3wr5qkria7e 1 39 College College NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 40 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 1 41 Business Business NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 42 , , , work_baot2k5cxrbyrdf3wr5qkria7e 1 43 501 501 CD work_baot2k5cxrbyrdf3wr5qkria7e 1 44 West West NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 45 Durango Durango NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 46 Blvd Blvd NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 47 . . NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 48 , , , work_baot2k5cxrbyrdf3wr5qkria7e 1 49 University University NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 50 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 1 51 Texas Texas NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 52 at at IN work_baot2k5cxrbyrdf3wr5qkria7e 1 53 San San NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 54 Antonio Antonio NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 55 , , , work_baot2k5cxrbyrdf3wr5qkria7e 1 56 San San NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 57 Antonio Antonio NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 58 , , , work_baot2k5cxrbyrdf3wr5qkria7e 1 59 TX TX NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 60 78207 78207 CD work_baot2k5cxrbyrdf3wr5qkria7e 1 61 , , , work_baot2k5cxrbyrdf3wr5qkria7e 1 62 United United NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 63 States States NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 64 Received receive VBD work_baot2k5cxrbyrdf3wr5qkria7e 1 65 1 1 CD work_baot2k5cxrbyrdf3wr5qkria7e 1 66 April April NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 67 2004 2004 CD work_baot2k5cxrbyrdf3wr5qkria7e 1 68 ; ; : work_baot2k5cxrbyrdf3wr5qkria7e 1 69 received receive VBN work_baot2k5cxrbyrdf3wr5qkria7e 1 70 in in IN work_baot2k5cxrbyrdf3wr5qkria7e 1 71 revised revise VBN work_baot2k5cxrbyrdf3wr5qkria7e 1 72 form form NN work_baot2k5cxrbyrdf3wr5qkria7e 1 73 1 1 CD work_baot2k5cxrbyrdf3wr5qkria7e 1 74 November November NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 75 2004 2004 CD work_baot2k5cxrbyrdf3wr5qkria7e 1 76 ; ; : work_baot2k5cxrbyrdf3wr5qkria7e 1 77 accepted accept VBD work_baot2k5cxrbyrdf3wr5qkria7e 1 78 1 1 CD work_baot2k5cxrbyrdf3wr5qkria7e 1 79 April April NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 80 2005 2005 CD work_baot2k5cxrbyrdf3wr5qkria7e 1 81 Available available JJ work_baot2k5cxrbyrdf3wr5qkria7e 1 82 online online RB work_baot2k5cxrbyrdf3wr5qkria7e 1 83 20 20 CD work_baot2k5cxrbyrdf3wr5qkria7e 1 84 September September NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 85 2005 2005 CD work_baot2k5cxrbyrdf3wr5qkria7e 1 86 Abstract Abstract NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 87 In in IN work_baot2k5cxrbyrdf3wr5qkria7e 1 88 mid mid NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 89 - - NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 90 June June NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 91 2002 2002 CD work_baot2k5cxrbyrdf3wr5qkria7e 1 92 , , , work_baot2k5cxrbyrdf3wr5qkria7e 1 93 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 1 94 New New NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 95 York York NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 96 Mercantile Mercantile NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 97 Exchange Exchange NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 98 ( ( -LRB- work_baot2k5cxrbyrdf3wr5qkria7e 1 99 NYMEX NYMEX NNP work_baot2k5cxrbyrdf3wr5qkria7e 1 100 ) ) -RRB- work_baot2k5cxrbyrdf3wr5qkria7e 1 101 introduced introduce VBD work_baot2k5cxrbyrdf3wr5qkria7e 1 102 E e NN work_baot2k5cxrbyrdf3wr5qkria7e 1 103 - - NN work_baot2k5cxrbyrdf3wr5qkria7e 1 104 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 1 105 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 1 106 contracts contract NNS work_baot2k5cxrbyrdf3wr5qkria7e 1 107 on on IN work_baot2k5cxrbyrdf3wr5qkria7e 1 108 natural natural JJ work_baot2k5cxrbyrdf3wr5qkria7e 1 109 gas gas NN work_baot2k5cxrbyrdf3wr5qkria7e 1 110 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 1 111 crude crude JJ work_baot2k5cxrbyrdf3wr5qkria7e 1 112 oil oil NN work_baot2k5cxrbyrdf3wr5qkria7e 1 113 , , , work_baot2k5cxrbyrdf3wr5qkria7e 1 114 a a DT work_baot2k5cxrbyrdf3wr5qkria7e 1 115 natural natural JJ work_baot2k5cxrbyrdf3wr5qkria7e 1 116 response response NN work_baot2k5cxrbyrdf3wr5qkria7e 1 117 to to IN work_baot2k5cxrbyrdf3wr5qkria7e 1 118 information information NN work_baot2k5cxrbyrdf3wr5qkria7e 1 119 technology technology NN work_baot2k5cxrbyrdf3wr5qkria7e 1 120 developments development NNS work_baot2k5cxrbyrdf3wr5qkria7e 1 121 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 1 122 investor investor NN work_baot2k5cxrbyrdf3wr5qkria7e 1 123 interest interest NN work_baot2k5cxrbyrdf3wr5qkria7e 1 124 . . . work_baot2k5cxrbyrdf3wr5qkria7e 2 1 The the DT work_baot2k5cxrbyrdf3wr5qkria7e 2 2 transition transition NN work_baot2k5cxrbyrdf3wr5qkria7e 2 3 data datum NNS work_baot2k5cxrbyrdf3wr5qkria7e 2 4 allow allow VBP work_baot2k5cxrbyrdf3wr5qkria7e 2 5 examination examination NN work_baot2k5cxrbyrdf3wr5qkria7e 2 6 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 2 7 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 2 8 effects effect NNS work_baot2k5cxrbyrdf3wr5qkria7e 2 9 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 2 10 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 2 11 new new JJ work_baot2k5cxrbyrdf3wr5qkria7e 2 12 contracts contract NNS work_baot2k5cxrbyrdf3wr5qkria7e 2 13 on on IN work_baot2k5cxrbyrdf3wr5qkria7e 2 14 market market NN work_baot2k5cxrbyrdf3wr5qkria7e 2 15 quality quality NN work_baot2k5cxrbyrdf3wr5qkria7e 2 16 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 2 17 price price NN work_baot2k5cxrbyrdf3wr5qkria7e 2 18 discovery discovery NN work_baot2k5cxrbyrdf3wr5qkria7e 2 19 . . . work_baot2k5cxrbyrdf3wr5qkria7e 3 1 Bid bid NN work_baot2k5cxrbyrdf3wr5qkria7e 3 2 – – : work_baot2k5cxrbyrdf3wr5qkria7e 3 3 ask ask VB work_baot2k5cxrbyrdf3wr5qkria7e 3 4 spreads spread NNS work_baot2k5cxrbyrdf3wr5qkria7e 3 5 on on IN work_baot2k5cxrbyrdf3wr5qkria7e 3 6 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 3 7 regular regular JJ work_baot2k5cxrbyrdf3wr5qkria7e 3 8 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 3 9 have have VBP work_baot2k5cxrbyrdf3wr5qkria7e 3 10 been be VBN work_baot2k5cxrbyrdf3wr5qkria7e 3 11 reduced reduce VBN work_baot2k5cxrbyrdf3wr5qkria7e 3 12 significantly significantly RB work_baot2k5cxrbyrdf3wr5qkria7e 3 13 since since IN work_baot2k5cxrbyrdf3wr5qkria7e 3 14 introduction introduction NN work_baot2k5cxrbyrdf3wr5qkria7e 3 15 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 3 16 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 3 17 E e JJ work_baot2k5cxrbyrdf3wr5qkria7e 3 18 - - HYPH work_baot2k5cxrbyrdf3wr5qkria7e 3 19 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 3 20 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 3 21 , , , work_baot2k5cxrbyrdf3wr5qkria7e 3 22 showing show VBG work_baot2k5cxrbyrdf3wr5qkria7e 3 23 improved improved JJ work_baot2k5cxrbyrdf3wr5qkria7e 3 24 market market NN work_baot2k5cxrbyrdf3wr5qkria7e 3 25 quality quality NN work_baot2k5cxrbyrdf3wr5qkria7e 3 26 from from IN work_baot2k5cxrbyrdf3wr5qkria7e 3 27 competition competition NN work_baot2k5cxrbyrdf3wr5qkria7e 3 28 effects effect NNS work_baot2k5cxrbyrdf3wr5qkria7e 3 29 . . . work_baot2k5cxrbyrdf3wr5qkria7e 4 1 The the DT work_baot2k5cxrbyrdf3wr5qkria7e 4 2 E e NN work_baot2k5cxrbyrdf3wr5qkria7e 4 3 - - JJ work_baot2k5cxrbyrdf3wr5qkria7e 4 4 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 4 5 market market NN work_baot2k5cxrbyrdf3wr5qkria7e 4 6 contributes contribute NNS work_baot2k5cxrbyrdf3wr5qkria7e 4 7 more more JJR work_baot2k5cxrbyrdf3wr5qkria7e 4 8 than than IN work_baot2k5cxrbyrdf3wr5qkria7e 4 9 30 30 CD work_baot2k5cxrbyrdf3wr5qkria7e 4 10 % % NN work_baot2k5cxrbyrdf3wr5qkria7e 4 11 to to IN work_baot2k5cxrbyrdf3wr5qkria7e 4 12 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 4 13 price price NN work_baot2k5cxrbyrdf3wr5qkria7e 4 14 discovery discovery NN work_baot2k5cxrbyrdf3wr5qkria7e 4 15 process process NN work_baot2k5cxrbyrdf3wr5qkria7e 4 16 , , , work_baot2k5cxrbyrdf3wr5qkria7e 4 17 although although IN work_baot2k5cxrbyrdf3wr5qkria7e 4 18 it -PRON- PRP work_baot2k5cxrbyrdf3wr5qkria7e 4 19 represents represent VBZ work_baot2k5cxrbyrdf3wr5qkria7e 4 20 less less JJR work_baot2k5cxrbyrdf3wr5qkria7e 4 21 than than IN work_baot2k5cxrbyrdf3wr5qkria7e 4 22 1 1 CD work_baot2k5cxrbyrdf3wr5qkria7e 4 23 % % NN work_baot2k5cxrbyrdf3wr5qkria7e 4 24 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 4 25 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 4 26 volume volume NN work_baot2k5cxrbyrdf3wr5qkria7e 4 27 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 4 28 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 4 29 regular regular JJ work_baot2k5cxrbyrdf3wr5qkria7e 4 30 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 4 31 with with IN work_baot2k5cxrbyrdf3wr5qkria7e 4 32 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 4 33 same same JJ work_baot2k5cxrbyrdf3wr5qkria7e 4 34 underlying underlying NN work_baot2k5cxrbyrdf3wr5qkria7e 4 35 . . . work_baot2k5cxrbyrdf3wr5qkria7e 5 1 E e JJ work_baot2k5cxrbyrdf3wr5qkria7e 5 2 - - JJ work_baot2k5cxrbyrdf3wr5qkria7e 5 3 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 5 4 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 5 5 have have VBP work_baot2k5cxrbyrdf3wr5qkria7e 5 6 several several JJ work_baot2k5cxrbyrdf3wr5qkria7e 5 7 advantageous advantageous JJ work_baot2k5cxrbyrdf3wr5qkria7e 5 8 characteristics characteristic NNS work_baot2k5cxrbyrdf3wr5qkria7e 5 9 over over IN work_baot2k5cxrbyrdf3wr5qkria7e 5 10 regular regular JJ work_baot2k5cxrbyrdf3wr5qkria7e 5 11 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 5 12 , , , work_baot2k5cxrbyrdf3wr5qkria7e 5 13 which which WDT work_baot2k5cxrbyrdf3wr5qkria7e 5 14 should should MD work_baot2k5cxrbyrdf3wr5qkria7e 5 15 explain explain VB work_baot2k5cxrbyrdf3wr5qkria7e 5 16 these these DT work_baot2k5cxrbyrdf3wr5qkria7e 5 17 significant significant JJ work_baot2k5cxrbyrdf3wr5qkria7e 5 18 results result NNS work_baot2k5cxrbyrdf3wr5qkria7e 5 19 . . . work_baot2k5cxrbyrdf3wr5qkria7e 6 1 D D NNP work_baot2k5cxrbyrdf3wr5qkria7e 6 2 2005 2005 CD work_baot2k5cxrbyrdf3wr5qkria7e 6 3 Elsevier Elsevier NNP work_baot2k5cxrbyrdf3wr5qkria7e 6 4 Inc. Inc. NNP work_baot2k5cxrbyrdf3wr5qkria7e 6 5 All all DT work_baot2k5cxrbyrdf3wr5qkria7e 6 6 rights right NNS work_baot2k5cxrbyrdf3wr5qkria7e 6 7 reserved reserve VBN work_baot2k5cxrbyrdf3wr5qkria7e 6 8 . . . work_baot2k5cxrbyrdf3wr5qkria7e 7 1 JEL JEL NNP work_baot2k5cxrbyrdf3wr5qkria7e 7 2 classification classification NN work_baot2k5cxrbyrdf3wr5qkria7e 7 3 : : : work_baot2k5cxrbyrdf3wr5qkria7e 7 4 G15 G15 NNP work_baot2k5cxrbyrdf3wr5qkria7e 7 5 Keywords Keywords NNPS work_baot2k5cxrbyrdf3wr5qkria7e 7 6 : : : work_baot2k5cxrbyrdf3wr5qkria7e 7 7 E e NN work_baot2k5cxrbyrdf3wr5qkria7e 7 8 - - JJ work_baot2k5cxrbyrdf3wr5qkria7e 7 9 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 7 10 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 7 11 ; ; : work_baot2k5cxrbyrdf3wr5qkria7e 7 12 Price price NN work_baot2k5cxrbyrdf3wr5qkria7e 7 13 discovery discovery NN work_baot2k5cxrbyrdf3wr5qkria7e 7 14 1 1 CD work_baot2k5cxrbyrdf3wr5qkria7e 7 15 . . . work_baot2k5cxrbyrdf3wr5qkria7e 8 1 Introduction introduction NN work_baot2k5cxrbyrdf3wr5qkria7e 8 2 Energy Energy NNP work_baot2k5cxrbyrdf3wr5qkria7e 8 3 products product NNS work_baot2k5cxrbyrdf3wr5qkria7e 8 4 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 8 5 energy energy NN work_baot2k5cxrbyrdf3wr5qkria7e 8 6 markets market NNS work_baot2k5cxrbyrdf3wr5qkria7e 8 7 have have VBP work_baot2k5cxrbyrdf3wr5qkria7e 8 8 played play VBN work_baot2k5cxrbyrdf3wr5qkria7e 8 9 essential essential JJ work_baot2k5cxrbyrdf3wr5qkria7e 8 10 roles role NNS work_baot2k5cxrbyrdf3wr5qkria7e 8 11 in in IN work_baot2k5cxrbyrdf3wr5qkria7e 8 12 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 8 13 U.S. U.S. NNP work_baot2k5cxrbyrdf3wr5qkria7e 8 14 economy economy NN work_baot2k5cxrbyrdf3wr5qkria7e 8 15 since since IN work_baot2k5cxrbyrdf3wr5qkria7e 8 16 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 8 17 Industrial Industrial NNP work_baot2k5cxrbyrdf3wr5qkria7e 8 18 Revolution Revolution NNP work_baot2k5cxrbyrdf3wr5qkria7e 8 19 . . . work_baot2k5cxrbyrdf3wr5qkria7e 9 1 Energy energy NN work_baot2k5cxrbyrdf3wr5qkria7e 9 2 markets market NNS work_baot2k5cxrbyrdf3wr5qkria7e 9 3 have have VBP work_baot2k5cxrbyrdf3wr5qkria7e 9 4 been be VBN work_baot2k5cxrbyrdf3wr5qkria7e 9 5 much much RB work_baot2k5cxrbyrdf3wr5qkria7e 9 6 more more RBR work_baot2k5cxrbyrdf3wr5qkria7e 9 7 volatile volatile JJ work_baot2k5cxrbyrdf3wr5qkria7e 9 8 than than IN work_baot2k5cxrbyrdf3wr5qkria7e 9 9 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 9 10 stock stock NN work_baot2k5cxrbyrdf3wr5qkria7e 9 11 markets market NNS work_baot2k5cxrbyrdf3wr5qkria7e 9 12 in in IN work_baot2k5cxrbyrdf3wr5qkria7e 9 13 recent recent JJ work_baot2k5cxrbyrdf3wr5qkria7e 9 14 years year NNS work_baot2k5cxrbyrdf3wr5qkria7e 9 15 . . . work_baot2k5cxrbyrdf3wr5qkria7e 10 1 During during IN work_baot2k5cxrbyrdf3wr5qkria7e 10 2 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 10 3 5-year 5-year CD work_baot2k5cxrbyrdf3wr5qkria7e 10 4 period period NN work_baot2k5cxrbyrdf3wr5qkria7e 10 5 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 10 6 1997 1997 CD work_baot2k5cxrbyrdf3wr5qkria7e 10 7 through through IN work_baot2k5cxrbyrdf3wr5qkria7e 10 8 2001 2001 CD work_baot2k5cxrbyrdf3wr5qkria7e 10 9 , , , work_baot2k5cxrbyrdf3wr5qkria7e 10 10 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 10 11 variances variance NNS work_baot2k5cxrbyrdf3wr5qkria7e 10 12 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 10 13 daily daily JJ work_baot2k5cxrbyrdf3wr5qkria7e 10 14 returns return NNS work_baot2k5cxrbyrdf3wr5qkria7e 10 15 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 10 16 natural natural JJ work_baot2k5cxrbyrdf3wr5qkria7e 10 17 gas gas NN work_baot2k5cxrbyrdf3wr5qkria7e 10 18 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 10 19 cruel cruel JJ work_baot2k5cxrbyrdf3wr5qkria7e 10 20 oil oil NN work_baot2k5cxrbyrdf3wr5qkria7e 10 21 were be VBD work_baot2k5cxrbyrdf3wr5qkria7e 10 22 0.00230 0.00230 CD work_baot2k5cxrbyrdf3wr5qkria7e 10 23 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 10 24 0.00071 0.00071 CD work_baot2k5cxrbyrdf3wr5qkria7e 10 25 , , , work_baot2k5cxrbyrdf3wr5qkria7e 10 26 while while IN work_baot2k5cxrbyrdf3wr5qkria7e 10 27 that that DT work_baot2k5cxrbyrdf3wr5qkria7e 10 28 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 10 29 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 10 30 stock stock NN work_baot2k5cxrbyrdf3wr5qkria7e 10 31 index index NN work_baot2k5cxrbyrdf3wr5qkria7e 10 32 was be VBD work_baot2k5cxrbyrdf3wr5qkria7e 10 33 only only RB work_baot2k5cxrbyrdf3wr5qkria7e 10 34 0.00016 0.00016 CD work_baot2k5cxrbyrdf3wr5qkria7e 10 35 ( ( -LRB- work_baot2k5cxrbyrdf3wr5qkria7e 10 36 source source NN work_baot2k5cxrbyrdf3wr5qkria7e 10 37 : : : work_baot2k5cxrbyrdf3wr5qkria7e 10 38 Commodity Commodity NNP work_baot2k5cxrbyrdf3wr5qkria7e 10 39 Systems Systems NNPS work_baot2k5cxrbyrdf3wr5qkria7e 10 40 Inc. Inc. NNP work_baot2k5cxrbyrdf3wr5qkria7e 10 41 ( ( -LRB- work_baot2k5cxrbyrdf3wr5qkria7e 10 42 CSI CSI NNP work_baot2k5cxrbyrdf3wr5qkria7e 10 43 ) ) -RRB- work_baot2k5cxrbyrdf3wr5qkria7e 10 44 daily daily JJ work_baot2k5cxrbyrdf3wr5qkria7e 10 45 market market NN work_baot2k5cxrbyrdf3wr5qkria7e 10 46 files file NNS work_baot2k5cxrbyrdf3wr5qkria7e 10 47 ) ) -RRB- work_baot2k5cxrbyrdf3wr5qkria7e 10 48 . . . work_baot2k5cxrbyrdf3wr5qkria7e 11 1 Gas gas NN work_baot2k5cxrbyrdf3wr5qkria7e 11 2 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 11 3 oil oil NN work_baot2k5cxrbyrdf3wr5qkria7e 11 4 prices price NNS work_baot2k5cxrbyrdf3wr5qkria7e 11 5 since since IN work_baot2k5cxrbyrdf3wr5qkria7e 11 6 1044 1044 CD work_baot2k5cxrbyrdf3wr5qkria7e 11 7 - - HYPH work_baot2k5cxrbyrdf3wr5qkria7e 11 8 0283/$ 0283/$ `` work_baot2k5cxrbyrdf3wr5qkria7e 11 9 - - HYPH work_baot2k5cxrbyrdf3wr5qkria7e 11 10 see see VB work_baot2k5cxrbyrdf3wr5qkria7e 11 11 front front NN work_baot2k5cxrbyrdf3wr5qkria7e 11 12 matter matter NN work_baot2k5cxrbyrdf3wr5qkria7e 11 13 D D NNP work_baot2k5cxrbyrdf3wr5qkria7e 11 14 2005 2005 CD work_baot2k5cxrbyrdf3wr5qkria7e 11 15 Elsevier Elsevier NNP work_baot2k5cxrbyrdf3wr5qkria7e 11 16 Inc. Inc. NNP work_baot2k5cxrbyrdf3wr5qkria7e 11 17 All all DT work_baot2k5cxrbyrdf3wr5qkria7e 11 18 rights right NNS work_baot2k5cxrbyrdf3wr5qkria7e 11 19 reserved reserve VBN work_baot2k5cxrbyrdf3wr5qkria7e 11 20 . . . work_baot2k5cxrbyrdf3wr5qkria7e 12 1 doi:10.1016 doi:10.1016 NNP work_baot2k5cxrbyrdf3wr5qkria7e 12 2 / / SYM work_baot2k5cxrbyrdf3wr5qkria7e 12 3 j.gfj.2005.04.001 j.gfj.2005.04.001 CD work_baot2k5cxrbyrdf3wr5qkria7e 12 4 * * NFP work_baot2k5cxrbyrdf3wr5qkria7e 12 5 Corresponding Corresponding NNP work_baot2k5cxrbyrdf3wr5qkria7e 12 6 author author NN work_baot2k5cxrbyrdf3wr5qkria7e 12 7 . . . work_baot2k5cxrbyrdf3wr5qkria7e 13 1 Tel tel NN work_baot2k5cxrbyrdf3wr5qkria7e 13 2 . . . work_baot2k5cxrbyrdf3wr5qkria7e 14 1 : : : work_baot2k5cxrbyrdf3wr5qkria7e 14 2 +1 +1 : work_baot2k5cxrbyrdf3wr5qkria7e 14 3 210 210 CD work_baot2k5cxrbyrdf3wr5qkria7e 14 4 458 458 CD work_baot2k5cxrbyrdf3wr5qkria7e 14 5 2503 2503 CD work_baot2k5cxrbyrdf3wr5qkria7e 14 6 ; ; : work_baot2k5cxrbyrdf3wr5qkria7e 14 7 fax fax NN work_baot2k5cxrbyrdf3wr5qkria7e 14 8 : : : work_baot2k5cxrbyrdf3wr5qkria7e 14 9 +1 +1 NNP work_baot2k5cxrbyrdf3wr5qkria7e 14 10 210 210 CD work_baot2k5cxrbyrdf3wr5qkria7e 14 11 458 458 CD work_baot2k5cxrbyrdf3wr5qkria7e 14 12 2515 2515 CD work_baot2k5cxrbyrdf3wr5qkria7e 14 13 . . . work_baot2k5cxrbyrdf3wr5qkria7e 15 1 E e NN work_baot2k5cxrbyrdf3wr5qkria7e 15 2 - - NN work_baot2k5cxrbyrdf3wr5qkria7e 15 3 mail mail NN work_baot2k5cxrbyrdf3wr5qkria7e 15 4 address address NN work_baot2k5cxrbyrdf3wr5qkria7e 15 5 : : : work_baot2k5cxrbyrdf3wr5qkria7e 15 6 yiuman.tse@utsa.edu yiuman.tse@utsa.edu NNP work_baot2k5cxrbyrdf3wr5qkria7e 15 7 ( ( -LRB- work_baot2k5cxrbyrdf3wr5qkria7e 15 8 Y. Y. NNP work_baot2k5cxrbyrdf3wr5qkria7e 15 9 Tse Tse NNP work_baot2k5cxrbyrdf3wr5qkria7e 15 10 ) ) -RRB- work_baot2k5cxrbyrdf3wr5qkria7e 15 11 . . . work_baot2k5cxrbyrdf3wr5qkria7e 16 1 Global Global NNP work_baot2k5cxrbyrdf3wr5qkria7e 16 2 Finance Finance NNP work_baot2k5cxrbyrdf3wr5qkria7e 16 3 Journal Journal NNP work_baot2k5cxrbyrdf3wr5qkria7e 16 4 16 16 CD work_baot2k5cxrbyrdf3wr5qkria7e 16 5 ( ( -LRB- work_baot2k5cxrbyrdf3wr5qkria7e 16 6 2005 2005 CD work_baot2k5cxrbyrdf3wr5qkria7e 16 7 ) ) -RRB- work_baot2k5cxrbyrdf3wr5qkria7e 16 8 164–179 164–179 CD work_baot2k5cxrbyrdf3wr5qkria7e 16 9 deregulation deregulation NN work_baot2k5cxrbyrdf3wr5qkria7e 16 10 in in IN work_baot2k5cxrbyrdf3wr5qkria7e 16 11 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 16 12 1970s 1970s CD work_baot2k5cxrbyrdf3wr5qkria7e 16 13 have have VBP work_baot2k5cxrbyrdf3wr5qkria7e 16 14 been be VBN work_baot2k5cxrbyrdf3wr5qkria7e 16 15 considerably considerably RB work_baot2k5cxrbyrdf3wr5qkria7e 16 16 more more RBR work_baot2k5cxrbyrdf3wr5qkria7e 16 17 volatile volatile JJ work_baot2k5cxrbyrdf3wr5qkria7e 16 18 than than IN work_baot2k5cxrbyrdf3wr5qkria7e 16 19 other other JJ work_baot2k5cxrbyrdf3wr5qkria7e 16 20 commodity commodity NN work_baot2k5cxrbyrdf3wr5qkria7e 16 21 prices price NNS work_baot2k5cxrbyrdf3wr5qkria7e 16 22 at at IN work_baot2k5cxrbyrdf3wr5qkria7e 16 23 most most JJS work_baot2k5cxrbyrdf3wr5qkria7e 16 24 times time NNS work_baot2k5cxrbyrdf3wr5qkria7e 16 25 . . . work_baot2k5cxrbyrdf3wr5qkria7e 17 1 1 1 CD work_baot2k5cxrbyrdf3wr5qkria7e 17 2 Gas gas NN work_baot2k5cxrbyrdf3wr5qkria7e 17 3 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 17 4 oil oil NN work_baot2k5cxrbyrdf3wr5qkria7e 17 5 prices price NNS work_baot2k5cxrbyrdf3wr5qkria7e 17 6 are be VBP work_baot2k5cxrbyrdf3wr5qkria7e 17 7 volatile volatile JJ work_baot2k5cxrbyrdf3wr5qkria7e 17 8 because because IN work_baot2k5cxrbyrdf3wr5qkria7e 17 9 they -PRON- PRP work_baot2k5cxrbyrdf3wr5qkria7e 17 10 are be VBP work_baot2k5cxrbyrdf3wr5qkria7e 17 11 affected affect VBN work_baot2k5cxrbyrdf3wr5qkria7e 17 12 by by IN work_baot2k5cxrbyrdf3wr5qkria7e 17 13 many many JJ work_baot2k5cxrbyrdf3wr5qkria7e 17 14 supply supply NN work_baot2k5cxrbyrdf3wr5qkria7e 17 15 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 17 16 demand demand NN work_baot2k5cxrbyrdf3wr5qkria7e 17 17 factors factor NNS work_baot2k5cxrbyrdf3wr5qkria7e 17 18 , , , work_baot2k5cxrbyrdf3wr5qkria7e 17 19 such such JJ work_baot2k5cxrbyrdf3wr5qkria7e 17 20 as as IN work_baot2k5cxrbyrdf3wr5qkria7e 17 21 compacts compact NNS work_baot2k5cxrbyrdf3wr5qkria7e 17 22 among among IN work_baot2k5cxrbyrdf3wr5qkria7e 17 23 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 17 24 Organization Organization NNP work_baot2k5cxrbyrdf3wr5qkria7e 17 25 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 17 26 Petroleum Petroleum NNP work_baot2k5cxrbyrdf3wr5qkria7e 17 27 Exporting Exporting NNP work_baot2k5cxrbyrdf3wr5qkria7e 17 28 Countries Countries NNPS work_baot2k5cxrbyrdf3wr5qkria7e 17 29 ( ( -LRB- work_baot2k5cxrbyrdf3wr5qkria7e 17 30 OPEC OPEC NNP work_baot2k5cxrbyrdf3wr5qkria7e 17 31 ) ) -RRB- work_baot2k5cxrbyrdf3wr5qkria7e 17 32 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 17 33 other other JJ work_baot2k5cxrbyrdf3wr5qkria7e 17 34 oil oil NN work_baot2k5cxrbyrdf3wr5qkria7e 17 35 - - HYPH work_baot2k5cxrbyrdf3wr5qkria7e 17 36 producing produce VBG work_baot2k5cxrbyrdf3wr5qkria7e 17 37 countries country NNS work_baot2k5cxrbyrdf3wr5qkria7e 17 38 , , , work_baot2k5cxrbyrdf3wr5qkria7e 17 39 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 17 40 general general JJ work_baot2k5cxrbyrdf3wr5qkria7e 17 41 economic economic JJ work_baot2k5cxrbyrdf3wr5qkria7e 17 42 environment environment NN work_baot2k5cxrbyrdf3wr5qkria7e 17 43 , , , work_baot2k5cxrbyrdf3wr5qkria7e 17 44 season season NN work_baot2k5cxrbyrdf3wr5qkria7e 17 45 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 17 46 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 17 47 year year NN work_baot2k5cxrbyrdf3wr5qkria7e 17 48 , , , work_baot2k5cxrbyrdf3wr5qkria7e 17 49 storage storage NN work_baot2k5cxrbyrdf3wr5qkria7e 17 50 circumstances circumstance NNS work_baot2k5cxrbyrdf3wr5qkria7e 17 51 , , , work_baot2k5cxrbyrdf3wr5qkria7e 17 52 regulatory regulatory JJ work_baot2k5cxrbyrdf3wr5qkria7e 17 53 changes change NNS work_baot2k5cxrbyrdf3wr5qkria7e 17 54 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 17 55 so so RB work_baot2k5cxrbyrdf3wr5qkria7e 17 56 on on RB work_baot2k5cxrbyrdf3wr5qkria7e 17 57 . . . work_baot2k5cxrbyrdf3wr5qkria7e 18 1 Susmel Susmel NNP work_baot2k5cxrbyrdf3wr5qkria7e 18 2 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 18 3 Thompson Thompson NNP work_baot2k5cxrbyrdf3wr5qkria7e 18 4 ( ( -LRB- work_baot2k5cxrbyrdf3wr5qkria7e 18 5 1997 1997 CD work_baot2k5cxrbyrdf3wr5qkria7e 18 6 ) ) -RRB- work_baot2k5cxrbyrdf3wr5qkria7e 18 7 find find VBP work_baot2k5cxrbyrdf3wr5qkria7e 18 8 that that IN work_baot2k5cxrbyrdf3wr5qkria7e 18 9 broad broad JJ work_baot2k5cxrbyrdf3wr5qkria7e 18 10 regulatory regulatory JJ work_baot2k5cxrbyrdf3wr5qkria7e 18 11 changes change NNS work_baot2k5cxrbyrdf3wr5qkria7e 18 12 from from IN work_baot2k5cxrbyrdf3wr5qkria7e 18 13 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 18 14 1980s 1980s CD work_baot2k5cxrbyrdf3wr5qkria7e 18 15 through through IN work_baot2k5cxrbyrdf3wr5qkria7e 18 16 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 18 17 1990s 1990s CD work_baot2k5cxrbyrdf3wr5qkria7e 18 18 had have VBD work_baot2k5cxrbyrdf3wr5qkria7e 18 19 great great JJ work_baot2k5cxrbyrdf3wr5qkria7e 18 20 impacts impact NNS work_baot2k5cxrbyrdf3wr5qkria7e 18 21 in in IN work_baot2k5cxrbyrdf3wr5qkria7e 18 22 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 18 23 natural natural JJ work_baot2k5cxrbyrdf3wr5qkria7e 18 24 gas gas NN work_baot2k5cxrbyrdf3wr5qkria7e 18 25 spot spot NN work_baot2k5cxrbyrdf3wr5qkria7e 18 26 market market NN work_baot2k5cxrbyrdf3wr5qkria7e 18 27 , , , work_baot2k5cxrbyrdf3wr5qkria7e 18 28 including include VBG work_baot2k5cxrbyrdf3wr5qkria7e 18 29 increased increase VBN work_baot2k5cxrbyrdf3wr5qkria7e 18 30 volatility volatility NN work_baot2k5cxrbyrdf3wr5qkria7e 18 31 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 18 32 prices price NNS work_baot2k5cxrbyrdf3wr5qkria7e 18 33 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 18 34 risks risk NNS work_baot2k5cxrbyrdf3wr5qkria7e 18 35 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 18 36 market market NN work_baot2k5cxrbyrdf3wr5qkria7e 18 37 participation participation NN work_baot2k5cxrbyrdf3wr5qkria7e 18 38 . . . work_baot2k5cxrbyrdf3wr5qkria7e 19 1 In in IN work_baot2k5cxrbyrdf3wr5qkria7e 19 2 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 19 3 1970s 1970 NNS work_baot2k5cxrbyrdf3wr5qkria7e 19 4 , , , work_baot2k5cxrbyrdf3wr5qkria7e 19 5 OPEC OPEC NNP work_baot2k5cxrbyrdf3wr5qkria7e 19 6 cut cut VBD work_baot2k5cxrbyrdf3wr5qkria7e 19 7 oil oil NN work_baot2k5cxrbyrdf3wr5qkria7e 19 8 production production NN work_baot2k5cxrbyrdf3wr5qkria7e 19 9 significantly significantly RB work_baot2k5cxrbyrdf3wr5qkria7e 19 10 , , , work_baot2k5cxrbyrdf3wr5qkria7e 19 11 which which WDT work_baot2k5cxrbyrdf3wr5qkria7e 19 12 led lead VBD work_baot2k5cxrbyrdf3wr5qkria7e 19 13 to to IN work_baot2k5cxrbyrdf3wr5qkria7e 19 14 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 19 15 so so RB work_baot2k5cxrbyrdf3wr5qkria7e 19 16 - - HYPH work_baot2k5cxrbyrdf3wr5qkria7e 19 17 called call VBN work_baot2k5cxrbyrdf3wr5qkria7e 19 18 energy energy NN work_baot2k5cxrbyrdf3wr5qkria7e 19 19 crisis crisis NN work_baot2k5cxrbyrdf3wr5qkria7e 19 20 or or CC work_baot2k5cxrbyrdf3wr5qkria7e 19 21 oil oil NN work_baot2k5cxrbyrdf3wr5qkria7e 19 22 crisis crisis NN work_baot2k5cxrbyrdf3wr5qkria7e 19 23 . . . work_baot2k5cxrbyrdf3wr5qkria7e 20 1 More more RBR work_baot2k5cxrbyrdf3wr5qkria7e 20 2 recently recently RB work_baot2k5cxrbyrdf3wr5qkria7e 20 3 , , , work_baot2k5cxrbyrdf3wr5qkria7e 20 4 investors investor NNS work_baot2k5cxrbyrdf3wr5qkria7e 20 5 have have VBP work_baot2k5cxrbyrdf3wr5qkria7e 20 6 worried worry VBN work_baot2k5cxrbyrdf3wr5qkria7e 20 7 about about IN work_baot2k5cxrbyrdf3wr5qkria7e 20 8 labor labor NN work_baot2k5cxrbyrdf3wr5qkria7e 20 9 strife strife NN work_baot2k5cxrbyrdf3wr5qkria7e 20 10 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 20 11 subsequent subsequent JJ work_baot2k5cxrbyrdf3wr5qkria7e 20 12 supply supply NN work_baot2k5cxrbyrdf3wr5qkria7e 20 13 disruptions disruption NNS work_baot2k5cxrbyrdf3wr5qkria7e 20 14 in in IN work_baot2k5cxrbyrdf3wr5qkria7e 20 15 Venezuela Venezuela NNP work_baot2k5cxrbyrdf3wr5qkria7e 20 16 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 20 17 Nigeria Nigeria NNP work_baot2k5cxrbyrdf3wr5qkria7e 20 18 . . . work_baot2k5cxrbyrdf3wr5qkria7e 21 1 The the DT work_baot2k5cxrbyrdf3wr5qkria7e 21 2 possibility possibility NN work_baot2k5cxrbyrdf3wr5qkria7e 21 3 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 21 4 terrorist terrorist JJ work_baot2k5cxrbyrdf3wr5qkria7e 21 5 attacks attack NNS work_baot2k5cxrbyrdf3wr5qkria7e 21 6 targeting target VBG work_baot2k5cxrbyrdf3wr5qkria7e 21 7 energy energy NN work_baot2k5cxrbyrdf3wr5qkria7e 21 8 facilities facility NNS work_baot2k5cxrbyrdf3wr5qkria7e 21 9 , , , work_baot2k5cxrbyrdf3wr5qkria7e 21 10 natural natural JJ work_baot2k5cxrbyrdf3wr5qkria7e 21 11 incidents incident NNS work_baot2k5cxrbyrdf3wr5qkria7e 21 12 such such JJ work_baot2k5cxrbyrdf3wr5qkria7e 21 13 as as IN work_baot2k5cxrbyrdf3wr5qkria7e 21 14 Hurricane Hurricane NNP work_baot2k5cxrbyrdf3wr5qkria7e 21 15 Lily Lily NNP work_baot2k5cxrbyrdf3wr5qkria7e 21 16 in in IN work_baot2k5cxrbyrdf3wr5qkria7e 21 17 2002 2002 CD work_baot2k5cxrbyrdf3wr5qkria7e 21 18 , , , work_baot2k5cxrbyrdf3wr5qkria7e 21 19 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 21 20 Middle Middle NNP work_baot2k5cxrbyrdf3wr5qkria7e 21 21 East East NNP work_baot2k5cxrbyrdf3wr5qkria7e 21 22 conditions condition NNS work_baot2k5cxrbyrdf3wr5qkria7e 21 23 in in IN work_baot2k5cxrbyrdf3wr5qkria7e 21 24 2003 2003 CD work_baot2k5cxrbyrdf3wr5qkria7e 21 25 have have VBP work_baot2k5cxrbyrdf3wr5qkria7e 21 26 also also RB work_baot2k5cxrbyrdf3wr5qkria7e 21 27 greatly greatly RB work_baot2k5cxrbyrdf3wr5qkria7e 21 28 affected affect VBN work_baot2k5cxrbyrdf3wr5qkria7e 21 29 production production NN work_baot2k5cxrbyrdf3wr5qkria7e 21 30 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 21 31 storage storage NN work_baot2k5cxrbyrdf3wr5qkria7e 21 32 . . . work_baot2k5cxrbyrdf3wr5qkria7e 22 1 Economic economic JJ work_baot2k5cxrbyrdf3wr5qkria7e 22 2 entities entity NNS work_baot2k5cxrbyrdf3wr5qkria7e 22 3 such such JJ work_baot2k5cxrbyrdf3wr5qkria7e 22 4 as as IN work_baot2k5cxrbyrdf3wr5qkria7e 22 5 energy energy NN work_baot2k5cxrbyrdf3wr5qkria7e 22 6 producers producer NNS work_baot2k5cxrbyrdf3wr5qkria7e 22 7 , , , work_baot2k5cxrbyrdf3wr5qkria7e 22 8 distributors distributor NNS work_baot2k5cxrbyrdf3wr5qkria7e 22 9 , , , work_baot2k5cxrbyrdf3wr5qkria7e 22 10 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 22 11 financial financial JJ work_baot2k5cxrbyrdf3wr5qkria7e 22 12 institutions institution NNS work_baot2k5cxrbyrdf3wr5qkria7e 22 13 depend depend VBP work_baot2k5cxrbyrdf3wr5qkria7e 22 14 on on IN work_baot2k5cxrbyrdf3wr5qkria7e 22 15 efficient efficient JJ work_baot2k5cxrbyrdf3wr5qkria7e 22 16 spot spot NN work_baot2k5cxrbyrdf3wr5qkria7e 22 17 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 22 18 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 22 19 markets market NNS work_baot2k5cxrbyrdf3wr5qkria7e 22 20 for for IN work_baot2k5cxrbyrdf3wr5qkria7e 22 21 risk risk NN work_baot2k5cxrbyrdf3wr5qkria7e 22 22 management management NN work_baot2k5cxrbyrdf3wr5qkria7e 22 23 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 22 24 price price NN work_baot2k5cxrbyrdf3wr5qkria7e 22 25 discovery discovery NN work_baot2k5cxrbyrdf3wr5qkria7e 22 26 . . . work_baot2k5cxrbyrdf3wr5qkria7e 23 1 Energy energy NN work_baot2k5cxrbyrdf3wr5qkria7e 23 2 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 23 3 contracts contract NNS work_baot2k5cxrbyrdf3wr5qkria7e 23 4 were be VBD work_baot2k5cxrbyrdf3wr5qkria7e 23 5 introduced introduce VBN work_baot2k5cxrbyrdf3wr5qkria7e 23 6 at at IN work_baot2k5cxrbyrdf3wr5qkria7e 23 7 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 23 8 New New NNP work_baot2k5cxrbyrdf3wr5qkria7e 23 9 York York NNP work_baot2k5cxrbyrdf3wr5qkria7e 23 10 Mercantile Mercantile NNP work_baot2k5cxrbyrdf3wr5qkria7e 23 11 Exchange Exchange NNP work_baot2k5cxrbyrdf3wr5qkria7e 23 12 ( ( -LRB- work_baot2k5cxrbyrdf3wr5qkria7e 23 13 NYMEX NYMEX NNP work_baot2k5cxrbyrdf3wr5qkria7e 23 14 ) ) -RRB- work_baot2k5cxrbyrdf3wr5qkria7e 23 15 after after IN work_baot2k5cxrbyrdf3wr5qkria7e 23 16 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 23 17 1970s 1970 NNS work_baot2k5cxrbyrdf3wr5qkria7e 23 18 mainly mainly RB work_baot2k5cxrbyrdf3wr5qkria7e 23 19 to to TO work_baot2k5cxrbyrdf3wr5qkria7e 23 20 hedge hedge VB work_baot2k5cxrbyrdf3wr5qkria7e 23 21 increasing increase VBG work_baot2k5cxrbyrdf3wr5qkria7e 23 22 energy energy NN work_baot2k5cxrbyrdf3wr5qkria7e 23 23 risks risk NNS work_baot2k5cxrbyrdf3wr5qkria7e 23 24 . . . work_baot2k5cxrbyrdf3wr5qkria7e 24 1 Futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 24 2 exchanges exchange NNS work_baot2k5cxrbyrdf3wr5qkria7e 24 3 constantly constantly RB work_baot2k5cxrbyrdf3wr5qkria7e 24 4 introduce introduce VBP work_baot2k5cxrbyrdf3wr5qkria7e 24 5 new new JJ work_baot2k5cxrbyrdf3wr5qkria7e 24 6 financial financial JJ work_baot2k5cxrbyrdf3wr5qkria7e 24 7 products product NNS work_baot2k5cxrbyrdf3wr5qkria7e 24 8 in in IN work_baot2k5cxrbyrdf3wr5qkria7e 24 9 response response NN work_baot2k5cxrbyrdf3wr5qkria7e 24 10 to to IN work_baot2k5cxrbyrdf3wr5qkria7e 24 11 developments development NNS work_baot2k5cxrbyrdf3wr5qkria7e 24 12 in in IN work_baot2k5cxrbyrdf3wr5qkria7e 24 13 information information NN work_baot2k5cxrbyrdf3wr5qkria7e 24 14 technology technology NN work_baot2k5cxrbyrdf3wr5qkria7e 24 15 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 24 16 to to TO work_baot2k5cxrbyrdf3wr5qkria7e 24 17 meet meet VB work_baot2k5cxrbyrdf3wr5qkria7e 24 18 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 24 19 various various JJ work_baot2k5cxrbyrdf3wr5qkria7e 24 20 needs need NNS work_baot2k5cxrbyrdf3wr5qkria7e 24 21 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 24 22 investors investor NNS work_baot2k5cxrbyrdf3wr5qkria7e 24 23 . . . work_baot2k5cxrbyrdf3wr5qkria7e 25 1 A a DT work_baot2k5cxrbyrdf3wr5qkria7e 25 2 recent recent JJ work_baot2k5cxrbyrdf3wr5qkria7e 25 3 innovation innovation NN work_baot2k5cxrbyrdf3wr5qkria7e 25 4 is be VBZ work_baot2k5cxrbyrdf3wr5qkria7e 25 5 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 25 6 use use NN work_baot2k5cxrbyrdf3wr5qkria7e 25 7 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 25 8 E e NN work_baot2k5cxrbyrdf3wr5qkria7e 25 9 - - JJ work_baot2k5cxrbyrdf3wr5qkria7e 25 10 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 25 11 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 25 12 , , , work_baot2k5cxrbyrdf3wr5qkria7e 25 13 including include VBG work_baot2k5cxrbyrdf3wr5qkria7e 25 14 equity equity NN work_baot2k5cxrbyrdf3wr5qkria7e 25 15 index index NN work_baot2k5cxrbyrdf3wr5qkria7e 25 16 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 25 17 like like IN work_baot2k5cxrbyrdf3wr5qkria7e 25 18 E e NN work_baot2k5cxrbyrdf3wr5qkria7e 25 19 - - NN work_baot2k5cxrbyrdf3wr5qkria7e 25 20 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 25 21 SP SP NNP work_baot2k5cxrbyrdf3wr5qkria7e 25 22 500 500 CD work_baot2k5cxrbyrdf3wr5qkria7e 25 23 , , , work_baot2k5cxrbyrdf3wr5qkria7e 25 24 Nasdaq Nasdaq NNP work_baot2k5cxrbyrdf3wr5qkria7e 25 25 100 100 CD work_baot2k5cxrbyrdf3wr5qkria7e 25 26 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 25 27 Dow Dow NNP work_baot2k5cxrbyrdf3wr5qkria7e 25 28 30 30 CD work_baot2k5cxrbyrdf3wr5qkria7e 25 29 as as RB work_baot2k5cxrbyrdf3wr5qkria7e 25 30 well well RB work_baot2k5cxrbyrdf3wr5qkria7e 25 31 as as IN work_baot2k5cxrbyrdf3wr5qkria7e 25 32 commodity commodity NN work_baot2k5cxrbyrdf3wr5qkria7e 25 33 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 25 34 . . . work_baot2k5cxrbyrdf3wr5qkria7e 26 1 An an DT work_baot2k5cxrbyrdf3wr5qkria7e 26 2 E e NN work_baot2k5cxrbyrdf3wr5qkria7e 26 3 - - JJ work_baot2k5cxrbyrdf3wr5qkria7e 26 4 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 26 5 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 26 6 contract contract NN work_baot2k5cxrbyrdf3wr5qkria7e 26 7 is be VBZ work_baot2k5cxrbyrdf3wr5qkria7e 26 8 smaller small JJR work_baot2k5cxrbyrdf3wr5qkria7e 26 9 than than IN work_baot2k5cxrbyrdf3wr5qkria7e 26 10 a a DT work_baot2k5cxrbyrdf3wr5qkria7e 26 11 regular regular JJ work_baot2k5cxrbyrdf3wr5qkria7e 26 12 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 26 13 contract contract NN work_baot2k5cxrbyrdf3wr5qkria7e 26 14 with with IN work_baot2k5cxrbyrdf3wr5qkria7e 26 15 exactly exactly RB work_baot2k5cxrbyrdf3wr5qkria7e 26 16 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 26 17 same same JJ work_baot2k5cxrbyrdf3wr5qkria7e 26 18 underlying underlie VBG work_baot2k5cxrbyrdf3wr5qkria7e 26 19 pool pool NN work_baot2k5cxrbyrdf3wr5qkria7e 26 20 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 26 21 assets asset NNS work_baot2k5cxrbyrdf3wr5qkria7e 26 22 , , , work_baot2k5cxrbyrdf3wr5qkria7e 26 23 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 26 24 is be VBZ work_baot2k5cxrbyrdf3wr5qkria7e 26 25 usually usually RB work_baot2k5cxrbyrdf3wr5qkria7e 26 26 traded trade VBN work_baot2k5cxrbyrdf3wr5qkria7e 26 27 electronically electronically RB work_baot2k5cxrbyrdf3wr5qkria7e 26 28 . . . work_baot2k5cxrbyrdf3wr5qkria7e 27 1 On on IN work_baot2k5cxrbyrdf3wr5qkria7e 27 2 June June NNP work_baot2k5cxrbyrdf3wr5qkria7e 27 3 17 17 CD work_baot2k5cxrbyrdf3wr5qkria7e 27 4 , , , work_baot2k5cxrbyrdf3wr5qkria7e 27 5 2002 2002 CD work_baot2k5cxrbyrdf3wr5qkria7e 27 6 , , , work_baot2k5cxrbyrdf3wr5qkria7e 27 7 NYMEX NYMEX NNP work_baot2k5cxrbyrdf3wr5qkria7e 27 8 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 27 9 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 27 10 Chicago Chicago NNP work_baot2k5cxrbyrdf3wr5qkria7e 27 11 Mercantile Mercantile NNP work_baot2k5cxrbyrdf3wr5qkria7e 27 12 Exchange Exchange NNP work_baot2k5cxrbyrdf3wr5qkria7e 27 13 ( ( -LRB- work_baot2k5cxrbyrdf3wr5qkria7e 27 14 CME CME NNP work_baot2k5cxrbyrdf3wr5qkria7e 27 15 ) ) -RRB- work_baot2k5cxrbyrdf3wr5qkria7e 27 16 introduced introduce VBD work_baot2k5cxrbyrdf3wr5qkria7e 27 17 two two CD work_baot2k5cxrbyrdf3wr5qkria7e 27 18 smaller small JJR work_baot2k5cxrbyrdf3wr5qkria7e 27 19 sized sized JJ work_baot2k5cxrbyrdf3wr5qkria7e 27 20 energy energy NN work_baot2k5cxrbyrdf3wr5qkria7e 27 21 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 27 22 , , , work_baot2k5cxrbyrdf3wr5qkria7e 27 23 natural natural JJ work_baot2k5cxrbyrdf3wr5qkria7e 27 24 gas gas NN work_baot2k5cxrbyrdf3wr5qkria7e 27 25 E e NN work_baot2k5cxrbyrdf3wr5qkria7e 27 26 - - NN work_baot2k5cxrbyrdf3wr5qkria7e 27 27 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 27 28 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 27 29 light light JJ work_baot2k5cxrbyrdf3wr5qkria7e 27 30 sweet sweet JJ work_baot2k5cxrbyrdf3wr5qkria7e 27 31 crude crude JJ work_baot2k5cxrbyrdf3wr5qkria7e 27 32 oil oil NN work_baot2k5cxrbyrdf3wr5qkria7e 27 33 E e NN work_baot2k5cxrbyrdf3wr5qkria7e 27 34 - - NN work_baot2k5cxrbyrdf3wr5qkria7e 27 35 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 27 36 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 27 37 [ [ -LRB- work_baot2k5cxrbyrdf3wr5qkria7e 27 38 called call VBN work_baot2k5cxrbyrdf3wr5qkria7e 27 39 e e NNP work_baot2k5cxrbyrdf3wr5qkria7e 27 40 - - HYPH work_baot2k5cxrbyrdf3wr5qkria7e 27 41 miNY miNY NNP work_baot2k5cxrbyrdf3wr5qkria7e 27 42 Energy Energy NNP work_baot2k5cxrbyrdf3wr5qkria7e 27 43 Futures(SM Futures(SM NNP work_baot2k5cxrbyrdf3wr5qkria7e 27 44 ) ) -RRB- work_baot2k5cxrbyrdf3wr5qkria7e 27 45 ] ] -RRB- work_baot2k5cxrbyrdf3wr5qkria7e 27 46 . . . work_baot2k5cxrbyrdf3wr5qkria7e 28 1 E e JJ work_baot2k5cxrbyrdf3wr5qkria7e 28 2 - - JJ work_baot2k5cxrbyrdf3wr5qkria7e 28 3 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 28 4 natural natural JJ work_baot2k5cxrbyrdf3wr5qkria7e 28 5 gas gas NN work_baot2k5cxrbyrdf3wr5qkria7e 28 6 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 28 7 crude crude JJ work_baot2k5cxrbyrdf3wr5qkria7e 28 8 oil oil NN work_baot2k5cxrbyrdf3wr5qkria7e 28 9 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 28 10 contracts contract NNS work_baot2k5cxrbyrdf3wr5qkria7e 28 11 are be VBP work_baot2k5cxrbyrdf3wr5qkria7e 28 12 40 40 CD work_baot2k5cxrbyrdf3wr5qkria7e 28 13 % % NN work_baot2k5cxrbyrdf3wr5qkria7e 28 14 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 28 15 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 28 16 size size NN work_baot2k5cxrbyrdf3wr5qkria7e 28 17 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 28 18 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 28 19 regular regular JJ work_baot2k5cxrbyrdf3wr5qkria7e 28 20 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 28 21 contracts contract NNS work_baot2k5cxrbyrdf3wr5qkria7e 28 22 ; ; : work_baot2k5cxrbyrdf3wr5qkria7e 28 23 that that RB work_baot2k5cxrbyrdf3wr5qkria7e 28 24 is is RB work_baot2k5cxrbyrdf3wr5qkria7e 28 25 , , , work_baot2k5cxrbyrdf3wr5qkria7e 28 26 2.5 2.5 CD work_baot2k5cxrbyrdf3wr5qkria7e 28 27 E e NN work_baot2k5cxrbyrdf3wr5qkria7e 28 28 - - JJ work_baot2k5cxrbyrdf3wr5qkria7e 28 29 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 28 30 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 28 31 contracts contract NNS work_baot2k5cxrbyrdf3wr5qkria7e 28 32 equal equal VBP work_baot2k5cxrbyrdf3wr5qkria7e 28 33 one one CD work_baot2k5cxrbyrdf3wr5qkria7e 28 34 regular regular JJ work_baot2k5cxrbyrdf3wr5qkria7e 28 35 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 28 36 contract contract NN work_baot2k5cxrbyrdf3wr5qkria7e 28 37 . . . work_baot2k5cxrbyrdf3wr5qkria7e 29 1 They -PRON- PRP work_baot2k5cxrbyrdf3wr5qkria7e 29 2 are be VBP work_baot2k5cxrbyrdf3wr5qkria7e 29 3 traded trade VBN work_baot2k5cxrbyrdf3wr5qkria7e 29 4 through through IN work_baot2k5cxrbyrdf3wr5qkria7e 29 5 CME CME NNP work_baot2k5cxrbyrdf3wr5qkria7e 29 6 ’s ’s POS work_baot2k5cxrbyrdf3wr5qkria7e 29 7 electronic electronic JJ work_baot2k5cxrbyrdf3wr5qkria7e 29 8 trading trading NN work_baot2k5cxrbyrdf3wr5qkria7e 29 9 platform platform NN work_baot2k5cxrbyrdf3wr5qkria7e 29 10 ( ( -LRB- work_baot2k5cxrbyrdf3wr5qkria7e 29 11 GLOBEX GLOBEX NNP work_baot2k5cxrbyrdf3wr5qkria7e 29 12 ) ) -RRB- work_baot2k5cxrbyrdf3wr5qkria7e 29 13 , , , work_baot2k5cxrbyrdf3wr5qkria7e 29 14 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 29 15 not not RB work_baot2k5cxrbyrdf3wr5qkria7e 29 16 on on IN work_baot2k5cxrbyrdf3wr5qkria7e 29 17 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 29 18 open open JJ work_baot2k5cxrbyrdf3wr5qkria7e 29 19 outcry outcry NN work_baot2k5cxrbyrdf3wr5qkria7e 29 20 market market NN work_baot2k5cxrbyrdf3wr5qkria7e 29 21 where where WRB work_baot2k5cxrbyrdf3wr5qkria7e 29 22 regular regular JJ work_baot2k5cxrbyrdf3wr5qkria7e 29 23 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 29 24 are be VBP work_baot2k5cxrbyrdf3wr5qkria7e 29 25 traded trade VBN work_baot2k5cxrbyrdf3wr5qkria7e 29 26 . . . work_baot2k5cxrbyrdf3wr5qkria7e 30 1 2 2 LS work_baot2k5cxrbyrdf3wr5qkria7e 30 2 According accord VBG work_baot2k5cxrbyrdf3wr5qkria7e 30 3 to to IN work_baot2k5cxrbyrdf3wr5qkria7e 30 4 NYMEX NYMEX NNP work_baot2k5cxrbyrdf3wr5qkria7e 30 5 , , , work_baot2k5cxrbyrdf3wr5qkria7e 30 6 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 30 7 smaller small JJR work_baot2k5cxrbyrdf3wr5qkria7e 30 8 sized sized JJ work_baot2k5cxrbyrdf3wr5qkria7e 30 9 E E NNP work_baot2k5cxrbyrdf3wr5qkria7e 30 10 - - HYPH work_baot2k5cxrbyrdf3wr5qkria7e 30 11 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 30 12 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 30 13 were be VBD work_baot2k5cxrbyrdf3wr5qkria7e 30 14 designed design VBN work_baot2k5cxrbyrdf3wr5qkria7e 30 15 to to TO work_baot2k5cxrbyrdf3wr5qkria7e 30 16 appeal appeal VB work_baot2k5cxrbyrdf3wr5qkria7e 30 17 to to IN work_baot2k5cxrbyrdf3wr5qkria7e 30 18 individual individual JJ work_baot2k5cxrbyrdf3wr5qkria7e 30 19 speculators speculator NNS work_baot2k5cxrbyrdf3wr5qkria7e 30 20 – – : work_baot2k5cxrbyrdf3wr5qkria7e 30 21 not not RB work_baot2k5cxrbyrdf3wr5qkria7e 30 22 NYMEX NYMEX NNP work_baot2k5cxrbyrdf3wr5qkria7e 30 23 ’s ’s POS work_baot2k5cxrbyrdf3wr5qkria7e 30 24 typical typical JJ work_baot2k5cxrbyrdf3wr5qkria7e 30 25 customer customer NN work_baot2k5cxrbyrdf3wr5qkria7e 30 26 – – : work_baot2k5cxrbyrdf3wr5qkria7e 30 27 in in IN work_baot2k5cxrbyrdf3wr5qkria7e 30 28 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 30 29 energy energy NN work_baot2k5cxrbyrdf3wr5qkria7e 30 30 markets market NNS work_baot2k5cxrbyrdf3wr5qkria7e 30 31 . . . work_baot2k5cxrbyrdf3wr5qkria7e 31 1 The the DT work_baot2k5cxrbyrdf3wr5qkria7e 31 2 margin margin NN work_baot2k5cxrbyrdf3wr5qkria7e 31 3 requirements requirement NNS work_baot2k5cxrbyrdf3wr5qkria7e 31 4 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 31 5 E e NN work_baot2k5cxrbyrdf3wr5qkria7e 31 6 - - JJ work_baot2k5cxrbyrdf3wr5qkria7e 31 7 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 31 8 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 31 9 are be VBP work_baot2k5cxrbyrdf3wr5qkria7e 31 10 smaller small JJR work_baot2k5cxrbyrdf3wr5qkria7e 31 11 than than IN work_baot2k5cxrbyrdf3wr5qkria7e 31 12 those those DT work_baot2k5cxrbyrdf3wr5qkria7e 31 13 for for IN work_baot2k5cxrbyrdf3wr5qkria7e 31 14 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 31 15 regular regular JJ work_baot2k5cxrbyrdf3wr5qkria7e 31 16 contracts contract NNS work_baot2k5cxrbyrdf3wr5qkria7e 31 17 . . . work_baot2k5cxrbyrdf3wr5qkria7e 32 1 Therefore therefore RB work_baot2k5cxrbyrdf3wr5qkria7e 32 2 , , , work_baot2k5cxrbyrdf3wr5qkria7e 32 3 E e NN work_baot2k5cxrbyrdf3wr5qkria7e 32 4 - - NN work_baot2k5cxrbyrdf3wr5qkria7e 32 5 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 32 6 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 32 7 are be VBP work_baot2k5cxrbyrdf3wr5qkria7e 32 8 more more RBR work_baot2k5cxrbyrdf3wr5qkria7e 32 9 affordable affordable JJ work_baot2k5cxrbyrdf3wr5qkria7e 32 10 to to IN work_baot2k5cxrbyrdf3wr5qkria7e 32 11 individual individual JJ work_baot2k5cxrbyrdf3wr5qkria7e 32 12 investors investor NNS work_baot2k5cxrbyrdf3wr5qkria7e 32 13 who who WP work_baot2k5cxrbyrdf3wr5qkria7e 32 14 were be VBD work_baot2k5cxrbyrdf3wr5qkria7e 32 15 previously previously RB work_baot2k5cxrbyrdf3wr5qkria7e 32 16 unable unable JJ work_baot2k5cxrbyrdf3wr5qkria7e 32 17 to to TO work_baot2k5cxrbyrdf3wr5qkria7e 32 18 trade trade VB work_baot2k5cxrbyrdf3wr5qkria7e 32 19 at at IN work_baot2k5cxrbyrdf3wr5qkria7e 32 20 NYMEX NYMEX NNP work_baot2k5cxrbyrdf3wr5qkria7e 32 21 . . . work_baot2k5cxrbyrdf3wr5qkria7e 33 1 Unlike unlike IN work_baot2k5cxrbyrdf3wr5qkria7e 33 2 their -PRON- PRP$ work_baot2k5cxrbyrdf3wr5qkria7e 33 3 regular regular JJ work_baot2k5cxrbyrdf3wr5qkria7e 33 4 counterparts counterpart NNS work_baot2k5cxrbyrdf3wr5qkria7e 33 5 , , , work_baot2k5cxrbyrdf3wr5qkria7e 33 6 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 33 7 E e JJ work_baot2k5cxrbyrdf3wr5qkria7e 33 8 - - JJ work_baot2k5cxrbyrdf3wr5qkria7e 33 9 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 33 10 contracts contract NNS work_baot2k5cxrbyrdf3wr5qkria7e 33 11 are be VBP work_baot2k5cxrbyrdf3wr5qkria7e 33 12 cash cash NN work_baot2k5cxrbyrdf3wr5qkria7e 33 13 - - HYPH work_baot2k5cxrbyrdf3wr5qkria7e 33 14 settled settle VBN work_baot2k5cxrbyrdf3wr5qkria7e 33 15 . . . work_baot2k5cxrbyrdf3wr5qkria7e 34 1 Some some DT work_baot2k5cxrbyrdf3wr5qkria7e 34 2 commercial commercial JJ work_baot2k5cxrbyrdf3wr5qkria7e 34 3 entitles entitle NNS work_baot2k5cxrbyrdf3wr5qkria7e 34 4 may may MD work_baot2k5cxrbyrdf3wr5qkria7e 34 5 use use VB work_baot2k5cxrbyrdf3wr5qkria7e 34 6 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 34 7 E e NN work_baot2k5cxrbyrdf3wr5qkria7e 34 8 - - NN work_baot2k5cxrbyrdf3wr5qkria7e 34 9 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 34 10 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 34 11 for for IN work_baot2k5cxrbyrdf3wr5qkria7e 34 12 hedging hedge VBG work_baot2k5cxrbyrdf3wr5qkria7e 34 13 odd odd JJ work_baot2k5cxrbyrdf3wr5qkria7e 34 14 lots lot NNS work_baot2k5cxrbyrdf3wr5qkria7e 34 15 . . . work_baot2k5cxrbyrdf3wr5qkria7e 35 1 The the DT work_baot2k5cxrbyrdf3wr5qkria7e 35 2 appendix appendix NNP work_baot2k5cxrbyrdf3wr5qkria7e 35 3 provides provide VBZ work_baot2k5cxrbyrdf3wr5qkria7e 35 4 detailed detailed JJ work_baot2k5cxrbyrdf3wr5qkria7e 35 5 specifications specification NNS work_baot2k5cxrbyrdf3wr5qkria7e 35 6 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 35 7 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 35 8 two two CD work_baot2k5cxrbyrdf3wr5qkria7e 35 9 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 35 10 contracts contract NNS work_baot2k5cxrbyrdf3wr5qkria7e 35 11 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 35 12 two two CD work_baot2k5cxrbyrdf3wr5qkria7e 35 13 news news NN work_baot2k5cxrbyrdf3wr5qkria7e 35 14 articles article NNS work_baot2k5cxrbyrdf3wr5qkria7e 35 15 by by IN work_baot2k5cxrbyrdf3wr5qkria7e 35 16 Securities Securities NNPS work_baot2k5cxrbyrdf3wr5qkria7e 35 17 Week Week NNP work_baot2k5cxrbyrdf3wr5qkria7e 35 18 ( ( -LRB- work_baot2k5cxrbyrdf3wr5qkria7e 35 19 2002a 2002a CD work_baot2k5cxrbyrdf3wr5qkria7e 35 20 , , , work_baot2k5cxrbyrdf3wr5qkria7e 35 21 2002b 2002b CD work_baot2k5cxrbyrdf3wr5qkria7e 35 22 ) ) -RRB- work_baot2k5cxrbyrdf3wr5qkria7e 35 23 describe describe VBP work_baot2k5cxrbyrdf3wr5qkria7e 35 24 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 35 25 benefits benefit NNS work_baot2k5cxrbyrdf3wr5qkria7e 35 26 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 35 27 E e NN work_baot2k5cxrbyrdf3wr5qkria7e 35 28 - - NN work_baot2k5cxrbyrdf3wr5qkria7e 35 29 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 35 30 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 35 31 to to IN work_baot2k5cxrbyrdf3wr5qkria7e 35 32 individual individual JJ work_baot2k5cxrbyrdf3wr5qkria7e 35 33 investors investor NNS work_baot2k5cxrbyrdf3wr5qkria7e 35 34 . . . work_baot2k5cxrbyrdf3wr5qkria7e 36 1 We -PRON- PRP work_baot2k5cxrbyrdf3wr5qkria7e 36 2 examine examine VBP work_baot2k5cxrbyrdf3wr5qkria7e 36 3 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 36 4 impact impact NN work_baot2k5cxrbyrdf3wr5qkria7e 36 5 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 36 6 introduction introduction NN work_baot2k5cxrbyrdf3wr5qkria7e 36 7 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 36 8 E e NN work_baot2k5cxrbyrdf3wr5qkria7e 36 9 - - JJ work_baot2k5cxrbyrdf3wr5qkria7e 36 10 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 36 11 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 36 12 on on IN work_baot2k5cxrbyrdf3wr5qkria7e 36 13 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 36 14 regular regular JJ work_baot2k5cxrbyrdf3wr5qkria7e 36 15 futures future NNS work_baot2k5cxrbyrdf3wr5qkria7e 36 16 . . . work_baot2k5cxrbyrdf3wr5qkria7e 37 1 E e JJ work_baot2k5cxrbyrdf3wr5qkria7e 37 2 - - JJ work_baot2k5cxrbyrdf3wr5qkria7e 37 3 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 37 4 products product NNS work_baot2k5cxrbyrdf3wr5qkria7e 37 5 might may MD work_baot2k5cxrbyrdf3wr5qkria7e 37 6 have have VB work_baot2k5cxrbyrdf3wr5qkria7e 37 7 multiple multiple JJ work_baot2k5cxrbyrdf3wr5qkria7e 37 8 effects effect NNS work_baot2k5cxrbyrdf3wr5qkria7e 37 9 on on IN work_baot2k5cxrbyrdf3wr5qkria7e 37 10 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 37 11 regular regular JJ work_baot2k5cxrbyrdf3wr5qkria7e 37 12 products product NNS work_baot2k5cxrbyrdf3wr5qkria7e 37 13 since since IN work_baot2k5cxrbyrdf3wr5qkria7e 37 14 E E NNP work_baot2k5cxrbyrdf3wr5qkria7e 37 15 - - NN work_baot2k5cxrbyrdf3wr5qkria7e 37 16 minis mini NNS work_baot2k5cxrbyrdf3wr5qkria7e 37 17 are be VBP work_baot2k5cxrbyrdf3wr5qkria7e 37 18 both both DT work_baot2k5cxrbyrdf3wr5qkria7e 37 19 electronically electronically RB work_baot2k5cxrbyrdf3wr5qkria7e 37 20 traded trade VBN work_baot2k5cxrbyrdf3wr5qkria7e 37 21 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 37 22 smaller small JJR work_baot2k5cxrbyrdf3wr5qkria7e 37 23 in in IN work_baot2k5cxrbyrdf3wr5qkria7e 37 24 size size NN work_baot2k5cxrbyrdf3wr5qkria7e 37 25 . . . work_baot2k5cxrbyrdf3wr5qkria7e 38 1 Whether whether IN work_baot2k5cxrbyrdf3wr5qkria7e 38 2 market market NN work_baot2k5cxrbyrdf3wr5qkria7e 38 3 quality quality NN work_baot2k5cxrbyrdf3wr5qkria7e 38 4 will will MD work_baot2k5cxrbyrdf3wr5qkria7e 38 5 be be VB work_baot2k5cxrbyrdf3wr5qkria7e 38 6 improved improve VBN work_baot2k5cxrbyrdf3wr5qkria7e 38 7 through through IN work_baot2k5cxrbyrdf3wr5qkria7e 38 8 competing compete VBG work_baot2k5cxrbyrdf3wr5qkria7e 38 9 trading trading NN work_baot2k5cxrbyrdf3wr5qkria7e 38 10 systems system NNS work_baot2k5cxrbyrdf3wr5qkria7e 38 11 depends depend VBZ work_baot2k5cxrbyrdf3wr5qkria7e 38 12 on on IN work_baot2k5cxrbyrdf3wr5qkria7e 38 13 two two CD work_baot2k5cxrbyrdf3wr5qkria7e 38 14 opposite opposite JJ work_baot2k5cxrbyrdf3wr5qkria7e 38 15 effects effect NNS work_baot2k5cxrbyrdf3wr5qkria7e 38 16 : : : work_baot2k5cxrbyrdf3wr5qkria7e 38 17 competition competition NN work_baot2k5cxrbyrdf3wr5qkria7e 38 18 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 38 19 fragmentation fragmentation NN work_baot2k5cxrbyrdf3wr5qkria7e 38 20 1 1 CD work_baot2k5cxrbyrdf3wr5qkria7e 38 21 During during IN work_baot2k5cxrbyrdf3wr5qkria7e 38 22 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 38 23 same same JJ work_baot2k5cxrbyrdf3wr5qkria7e 38 24 5-year 5-year CD work_baot2k5cxrbyrdf3wr5qkria7e 38 25 period period NN work_baot2k5cxrbyrdf3wr5qkria7e 38 26 , , , work_baot2k5cxrbyrdf3wr5qkria7e 38 27 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 38 28 variances variance NNS work_baot2k5cxrbyrdf3wr5qkria7e 38 29 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 38 30 gold gold NN work_baot2k5cxrbyrdf3wr5qkria7e 38 31 , , , work_baot2k5cxrbyrdf3wr5qkria7e 38 32 live live JJ work_baot2k5cxrbyrdf3wr5qkria7e 38 33 cattle cattle NNS work_baot2k5cxrbyrdf3wr5qkria7e 38 34 , , , work_baot2k5cxrbyrdf3wr5qkria7e 38 35 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 38 36 soybean soybean VB work_baot2k5cxrbyrdf3wr5qkria7e 38 37 daily daily JJ work_baot2k5cxrbyrdf3wr5qkria7e 38 38 returns return NNS work_baot2k5cxrbyrdf3wr5qkria7e 38 39 are be VBP work_baot2k5cxrbyrdf3wr5qkria7e 38 40 0.00007 0.00007 CD work_baot2k5cxrbyrdf3wr5qkria7e 38 41 , , , work_baot2k5cxrbyrdf3wr5qkria7e 38 42 0.00014 0.00014 CD work_baot2k5cxrbyrdf3wr5qkria7e 38 43 , , , work_baot2k5cxrbyrdf3wr5qkria7e 38 44 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 38 45 0.00018 0.00018 CD work_baot2k5cxrbyrdf3wr5qkria7e 38 46 , , , work_baot2k5cxrbyrdf3wr5qkria7e 38 47 respectively respectively RB work_baot2k5cxrbyrdf3wr5qkria7e 38 48 . . . work_baot2k5cxrbyrdf3wr5qkria7e 39 1 The the DT work_baot2k5cxrbyrdf3wr5qkria7e 39 2 gas gas NN work_baot2k5cxrbyrdf3wr5qkria7e 39 3 markets market NNS work_baot2k5cxrbyrdf3wr5qkria7e 39 4 are be VBP work_baot2k5cxrbyrdf3wr5qkria7e 39 5 also also RB work_baot2k5cxrbyrdf3wr5qkria7e 39 6 more more RBR work_baot2k5cxrbyrdf3wr5qkria7e 39 7 volatile volatile JJ work_baot2k5cxrbyrdf3wr5qkria7e 39 8 than than IN work_baot2k5cxrbyrdf3wr5qkria7e 39 9 other other JJ work_baot2k5cxrbyrdf3wr5qkria7e 39 10 commodities commodity NNS work_baot2k5cxrbyrdf3wr5qkria7e 39 11 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 39 12 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 39 13 S&P S&P NNP work_baot2k5cxrbyrdf3wr5qkria7e 39 14 index index NN work_baot2k5cxrbyrdf3wr5qkria7e 39 15 during during IN work_baot2k5cxrbyrdf3wr5qkria7e 39 16 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 39 17 longer long JJR work_baot2k5cxrbyrdf3wr5qkria7e 39 18 period period NN work_baot2k5cxrbyrdf3wr5qkria7e 39 19 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 39 20 1990 1990 CD work_baot2k5cxrbyrdf3wr5qkria7e 39 21 through through IN work_baot2k5cxrbyrdf3wr5qkria7e 39 22 2001 2001 CD work_baot2k5cxrbyrdf3wr5qkria7e 39 23 . . . work_baot2k5cxrbyrdf3wr5qkria7e 40 1 Results result NNS work_baot2k5cxrbyrdf3wr5qkria7e 40 2 are be VBP work_baot2k5cxrbyrdf3wr5qkria7e 40 3 available available JJ work_baot2k5cxrbyrdf3wr5qkria7e 40 4 upon upon IN work_baot2k5cxrbyrdf3wr5qkria7e 40 5 request request NN work_baot2k5cxrbyrdf3wr5qkria7e 40 6 . . . work_baot2k5cxrbyrdf3wr5qkria7e 41 1 2 2 CD work_baot2k5cxrbyrdf3wr5qkria7e 41 2 Members member NNS work_baot2k5cxrbyrdf3wr5qkria7e 41 3 of of IN work_baot2k5cxrbyrdf3wr5qkria7e 41 4 the the DT work_baot2k5cxrbyrdf3wr5qkria7e 41 5 NYMEX NYMEX NNP work_baot2k5cxrbyrdf3wr5qkria7e 41 6 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 41 7 CME CME NNP work_baot2k5cxrbyrdf3wr5qkria7e 41 8 have have VBP work_baot2k5cxrbyrdf3wr5qkria7e 41 9 access access NN work_baot2k5cxrbyrdf3wr5qkria7e 41 10 to to IN work_baot2k5cxrbyrdf3wr5qkria7e 41 11 one one CD work_baot2k5cxrbyrdf3wr5qkria7e 41 12 another another DT work_baot2k5cxrbyrdf3wr5qkria7e 41 13 ’s ’s CD work_baot2k5cxrbyrdf3wr5qkria7e 41 14 electronic electronic JJ work_baot2k5cxrbyrdf3wr5qkria7e 41 15 system system NN work_baot2k5cxrbyrdf3wr5qkria7e 41 16 for for IN work_baot2k5cxrbyrdf3wr5qkria7e 41 17 E e NN work_baot2k5cxrbyrdf3wr5qkria7e 41 18 - - JJ work_baot2k5cxrbyrdf3wr5qkria7e 41 19 mini mini JJ work_baot2k5cxrbyrdf3wr5qkria7e 41 20 trading trading NN work_baot2k5cxrbyrdf3wr5qkria7e 41 21 . . . work_baot2k5cxrbyrdf3wr5qkria7e 42 1 CME cme NN work_baot2k5cxrbyrdf3wr5qkria7e 42 2 members member NNS work_baot2k5cxrbyrdf3wr5qkria7e 42 3 are be VBP work_baot2k5cxrbyrdf3wr5qkria7e 42 4 granted grant VBN work_baot2k5cxrbyrdf3wr5qkria7e 42 5 access access NN work_baot2k5cxrbyrdf3wr5qkria7e 42 6 to to IN work_baot2k5cxrbyrdf3wr5qkria7e 42 7 NYMEX NYMEX NNP work_baot2k5cxrbyrdf3wr5qkria7e 42 8 ACCESSR ACCESSR NNP work_baot2k5cxrbyrdf3wr5qkria7e 42 9 to to TO work_baot2k5cxrbyrdf3wr5qkria7e 42 10 trade trade VB work_baot2k5cxrbyrdf3wr5qkria7e 42 11 NYMEX NYMEX NNP work_baot2k5cxrbyrdf3wr5qkria7e 42 12 Division Division NNP work_baot2k5cxrbyrdf3wr5qkria7e 42 13 products product NNS work_baot2k5cxrbyrdf3wr5qkria7e 42 14 . . . work_baot2k5cxrbyrdf3wr5qkria7e 43 1 Those those DT work_baot2k5cxrbyrdf3wr5qkria7e 43 2 trades trade NNS work_baot2k5cxrbyrdf3wr5qkria7e 43 3 receive receive VBP work_baot2k5cxrbyrdf3wr5qkria7e 43 4 discounts discount NNS work_baot2k5cxrbyrdf3wr5qkria7e 43 5 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 43 6 are be VBP work_baot2k5cxrbyrdf3wr5qkria7e 43 7 guaranteed guarantee VBN work_baot2k5cxrbyrdf3wr5qkria7e 43 8 by by IN work_baot2k5cxrbyrdf3wr5qkria7e 43 9 a a DT work_baot2k5cxrbyrdf3wr5qkria7e 43 10 NYMEX NYMEX NNP work_baot2k5cxrbyrdf3wr5qkria7e 43 11 clearing clearing NN work_baot2k5cxrbyrdf3wr5qkria7e 43 12 firm firm NN work_baot2k5cxrbyrdf3wr5qkria7e 43 13 . . . work_baot2k5cxrbyrdf3wr5qkria7e 44 1 Similarly similarly RB work_baot2k5cxrbyrdf3wr5qkria7e 44 2 , , , work_baot2k5cxrbyrdf3wr5qkria7e 44 3 NYMEX NYMEX NNP work_baot2k5cxrbyrdf3wr5qkria7e 44 4 members member NNS work_baot2k5cxrbyrdf3wr5qkria7e 44 5 receive receive VBP work_baot2k5cxrbyrdf3wr5qkria7e 44 6 trade trade NN work_baot2k5cxrbyrdf3wr5qkria7e 44 7 access access NN work_baot2k5cxrbyrdf3wr5qkria7e 44 8 , , , work_baot2k5cxrbyrdf3wr5qkria7e 44 9 discounts discount NNS work_baot2k5cxrbyrdf3wr5qkria7e 44 10 , , , work_baot2k5cxrbyrdf3wr5qkria7e 44 11 and and CC work_baot2k5cxrbyrdf3wr5qkria7e 44 12 clearing clearing NN work_baot2k5cxrbyrdf3wr5qkria7e 44 13 guarantees guarantee NNS work_baot2k5cxrbyrdf3wr5qkria7e 44 14 for for IN work_baot2k5cxrbyrdf3wr5qkria7e 44 15 products product NNS work_baot2k5cxrbyrdf3wr5qkria7e 44 16 listed list VBN work_baot2k5cxrbyrdf3wr5qkria7e 44 17 on on IN work_baot2k5cxrbyrdf3wr5qkria7e 44 18 CME CME NNP work_baot2k5cxrbyrdf3wr5qkria7e 44 19 ’s ’s POS work_baot2k5cxrbyrdf3wr5qkria7e 44 20 GLOBEX GLOBEX NNP work_baot2k5cxrbyrdf3wr5qkria7e 44 21 . . . work_baot2k5cxrbyrdf3wr5qkria7e 45 1 Y. Y. NNP work_baot2k5cxrbyrdf3wr5qkria7e 45 2 Tse Tse NNP work_baot2k5cxrbyrdf3wr5qkria7e 45 3 , , , work_baot2k5cxrbyrdf3wr5qkria7e 45 4 J. J. NNP work_baot2k5cxrbyrdf3wr5qkria7e 45 5 Xiang Xiang NNP work_baot2k5cxrbyrdf3wr5qkria7e 45 6 / / SYM work_baot2k5cxrbyrdf3wr5qkria7e 45 7 Global Global NNP work_baot2k5cxrbyrdf3wr5qkria7e 45 8 Finance Finance NNP work_baot2k5cxrbyrdf3wr5qkria7e 45 9 Journal Journal NNP work_baot2k5cxrbyrdf3wr5qkria7e 45 10 16 16 CD work_baot2k5cxrbyrdf3wr5qkria7e 45 11 ( ( -LRB- work_baot2k5cxrbyrdf3wr5qkria7e 45 12 2005 2005 CD work_baot2k5cxrbyrdf3wr5qkria7e 45 13 ) ) -RRB- work_baot2k5cxrbyrdf3wr5qkria7e 45 14 164–179 164–179 CD work_baot2k5cxrbyrdf3wr5qkria7e 45 15 165 165 CD work_baot2k5cxrbyrdf3wr5qkria7e 45 16 https://isiarticles.com/article/12660 https://isiarticles.com/article/12660 NN