Paul Peterson

Paul Peterson

Clinical Professor of Finance

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Contact

452 Wohlers Hall

1206 S Sixth St

Champaign, IL 61820

217-333-5718

pepeters@illinois.edu

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Educational Background

  • Ph.D., Agricultural Economics, University of Illinois at Urbana-Champaign, 1983
  • M.S., Animal Science, University of Illinois at Urbana-Champaign, 1978
  • B.S., Agriculture, University of Illinois at Urbana-Champaign, 1976

Positions Held

  • Clinical Professor of Finance, University of Illinois at Urbana-Champaign, Department of Finance, 2015-2023
  • Expert witness, U.S. Commodity Futures Trading Commission, 2015-2017
  • Expert witness, James A. Knauer, Chapter 11 Trustee of Eastern Livestock Co., LLC v. Larry Zeien, Jr. et al., U.S. Bankruptcy Court, Southern District of Indiana, New Albany Division, 2013-2014
  • Consultant, Aqua-Index Exchange, LLC, 2013 to present
  • The Clearing Corporation Foundation Clinical Professor of Derivatives Trading, University of Illinois at Urbana-Champaign, Department of Agricultural & Consumer Economics, 2012-2015
  • Adjunct Professor, Stuart School of Business, Illinois Institute of Technology, 2009-2011
  • Expert witness, Federal Beef Processors, Inc. and GFI America Inc. v. Admiral Insurance Company et al., Federal District Court for the District of South Dakota, Western Division, 2005-2009
  • Director, Research and Product Development, Chicago Mercantile Exchange Inc., 1989-2012
  • Vice President of Research, Brock Associates, 1988-1989
  • Marketing Manager, Chicago Board of Trade, 1986-1988
  • Manager of Market Analysis, American Farm Bureau Federation, 1983-1986

Recent Publications

  • Peterson, P. (2018). Commodity Derivatives: A Guide for Future Practitioners. New York: Routledge.  link >
  • Peterson, P., & Choi, J., A.G. Malliaris and W.T. Ziemba (Ed.) (2016). Chapter 9. Agricultural Futures Markets. The World Scientific Handbook of Futures Markets ( pp. 289-323). World Scientific Publishing Co.  link >

Other Publications

Articles

  • Peterson, P., & Choi, J. (2015). The First Mover Advantage as a Determinant of Trading Volume for East Asian Futures Markets. International Journal of Applied Economics and Econometrics, 23 (1), 75-88.
  • Peterson, P. (2014). Position Limits and Potential Impacts on Hedgers. Farmdoc Daily, 4 (236).
  • Peterson, P. (2014). Pricing Issues in Agricultural Markets. Farmdoc Daily, 4 (204).
  • Peterson, P. (2014). Cattle at the Crossroads. Farmdoc Daily, 4 (175).
  • Peterson, P. (2014). Peregrine Financial Group: Two Years and Counting. Farmdoc Daily, 4 (124).
  • Peterson, P. (2014). Position Limits, Hedging, and Excessive Speculation. Farmdoc Daily, 4 (142).
  • Peterson, P. (2014). Fixing Prices and Fixing Markets. Farmdoc Daily, 4 (118).
  • Peterson, P. (2014). Protecting Futures Customers from Brokerage Firm Failures, Part 3. Farmdoc Daily, 4 (20).
  • Peterson, P. (2014). Protecting Futures Customers from Brokerage Firm Failures, Part 4. Farmdoc Daily, 4 (36).
  • Peterson, P. (2014). Protecting Futures Customers from Brokerage Firm Failures. Farmdoc Daily, 4 (6).
  • Peterson, P. (2014). Protecting Futures Customers from Brokerage Firm Failures, Part 2. Farmdoc Daily, 4 (12).
  • Peterson, P. (2013). Where Is My MF Global Check? Farmdoc Daily, 3 (240).
  • Peterson, P. (2013). When Exchanges Change the Rules of the Game. Farmdoc Daily, 3 (197).
  • Peterson, P. (2013). Behind the Collapse of MF Global. Farmdoc Daily, 3.
  • Peterson, P. (2013). Behind the Collapse of MF Global. Choices, 28 (2).  link >
  • Peterson, P. (2013). What’s Next for the Cattle Market? Farmdoc Daily, 3 (53).
  • Peterson, P. (2013). Settling MF Global Claims: Who Gets What and Why? Farmdoc Daily, 3 (28).
  • Peterson, P. (2012). CFTC-SEC Merger Proposal May Have Hidden Costs. Farmdoc Daily, 2 (246).
  • Peterson, P. (2012). More on Position Limits, Excessive Speculation and the Dodd-Frank Act. Farmdoc Daily, 2 (207).
  • Peterson, P. (2012). Position Limits, Excessive Speculation and the Dodd-Frank Act. Farmdoc Daily, 2 (201).
  • Peterson, P. (2012). Still More on Position Limits, Excessive Speculation and the Dodd-Frank Act. Farmdoc Daily, 2 (212).
  • Peterson, P. (2012). Consumer Spending and Beef Demand. Farmdoc Daily, 2 (168).
  • Peterson, P. (2012). Lessons from LIBOR. Farmdoc Daily, 2 (149).
  • Peterson, P., & Schnitkey, G. (2012). More Ways to Hedge the RP Guarantee Before Harvest. Farmdoc Daily, 2 (153).
  • Peterson, P. (2012). Beef Supplies and Cattle Industry Expansion Plans. Farmdoc Daily, 2 (104).
  • Peterson, P. (2012). Trading Hours and Daily Settlement Prices. Farmdoc Daily, 2 (122).
  • Peterson, P. (2012). How Many Futures Contracts Can One Market Support? Farmdoc Daily, 2 (89).
  • Peterson, P. (2012). Is There a Transaction Tax In Your Future? Farmdoc Daily, 2 (64).
  • Peterson, P. (2012). Should I Sell My MF Global Claim? Farmdoc Daily, 2 (34).
  • Peterson, P. (2012). Customer Accounts and the MF Global Bankruptcy. Farmdoc Daily, 2 (16).

Book Chapters

  • Peterson, P., J.W. Choi, C.H. Yun, and M.S. Miller (Ed.) (2014). Trading Volume and Growth Characteristics of East Asian Futures Markets. Economic and Financial Asymmetries in Ongoing Crises ( pp. 165-173). Sidma Press.  link >

Books and Monographs

  • Labuszewski, J., Nyhoff, J., Co, R., & Peterson, P. (2010). The CME Group Risk Management Handbook: Products and Applications. John Wiley & Sons, Inc.  link >

Conference Proceedings

  • Peterson, P., & Choi, J. (2017). Metallgesellschaft Revisited. NCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
  • Peterson, P. (2015). Contango and Backwardation as Predictors of Commodity Price Direction. NCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.  link >
  • Hu, D., & Peterson, P. (2014). Sources of Roll Returns in the S&P GSCI Excess Return Index. NCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management: University of Illinois.  link >
  • Peterson, P. (2014). How Large is the Agricultural Swaps Market? NCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management: University of Illinois.  link >
  • Peterson, P. (2013). Necessary and Sufficient Conditions for a Successful Futures Contract: The Case of Black Sea Wheat. International Food and Agribusiness Management Association 23rd Annual World Forum and Symposium.  link >
  • Joseph, K., Garcia, P., & Peterson, P. (2013). Price Discovery in the U.S. Fed Cattle Market. NCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.  link >
  • Peterson, P. (2013). Do Roll Returns Really Exist? An Analysis of the S&P GSCI. NCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management: University of Illinois.  link >

Presentations

  • Peterson, P. (2019). The Kraft Foods Wheat Price Manipulation Case. Illinois Economics Association.
  • Peterson, P. (2018). Another Look at Cash-Futures Convergence. Illinois Economics Association.
  • Peterson, P. (2017). Effectiveness of Position Limits in Preventing Market Manipulation. Illinois Economics Association.
  • Peterson, P. (2015). Developing Successful New Futures Contracts. Illinois Economics Association.
  • Peterson, P. (2015). Overview of the Dairy Swaps Market. Conference on Financial Risk and Federal Orders: New Considerations for Dairy.
  • Peterson, P. (2014). Developing Successful Agricultural Futures Contracts. 4a Conferência em Gestão de Risco e Comercialização de Commodities, BM&F BOVESPA.
  • Peterson, P. (2014). Evolution of the CME Live Cattle Contract. 4a Conferência em Gestão de Risco e Comercialização de Commodities, BM&F BOVESPA.
  • Peterson, P. (2014). Roll Returns in the S&P GSCI Commodity Index. Illinois Economics Association.
  • Peterson, P. (2013). Growth of the Asian Futures Markets. Illinois Economics Association.

Technical Reports

  • Quinn, D., Winter-Nelson, A., Peterson, P., & Garcia, P. (2012). Building an Enabling Environment for Functioning Commodity Exchanges. USAID-EAT Policy Brief Washington DC: United States Agency for International Development (USAID.  link >

Honors and Awards

  • List of Teachers Ranked as Excellent, University of Illinois at Urbana-Champaign, 2016, 2016, 2017, 2017, 2018, 2018, 2019, 2019, 2020, 2020, 2021, 2021, 2022, 2022

Grants

  • Necessary and Sufficient Conditions for a Successful Market Lamb Futures Contract, American Sheep Industry Association, 2014
  • Impact of Dodd-Frank on Agricultural Producers, Illinois Agricultural Experiment Station, 2012-2015
  • Development of Ingredient Forecasting for Abbott Nutrition: Engagement between Abbott Nutrition and University of Illinois Faculty, Abbott Nutrition, 2012-2014

Service

  • Chair, Graduate Student Paper Competition Committee, Illinois Economics Association, 2019 to present
  • Reviewer, Journal of Agricultural and Resource Economics, 2019 to present
  • President, Illinois Economics Association, 2018-2019

Current Courses

  • Options and Futures Markets (FIN 412) Introduction of options and futures markets for financial assets; examination of institutional aspects of the markets; theories of pricing; discussion of simple as well as complicated trading strategies (arbitrage, hedging and spread); applications for asset and risk management.

  • Cases in Financial Derivatives (FIN 428) This advanced elective course on financial derivatives explores the economic, legal, and regulatory concepts underlying these markets. It uses case studies to examine market weaknesses, design flaws, and regulatory breakdowns, many of which have resulted in major disasters.

  • Cases in Financial Derivatives (FIN 528) This advanced elective course on financial derivatives explores the economic, legal, and regulatory concepts underlying these markets. It uses case studies to examine market weaknesses, design flaws, and regulatory breakdowns, many of which have resulted in major disasters.

Contact

452 Wohlers Hall

1206 S Sixth St

Champaign, IL 61820

217-333-5718

pepeters@illinois.edu

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