LEGAL STATUS OF INDEX DERIVATIVE INSTRUMENTS

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HOSSEINZADEH JAVAD

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Journal Paper

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Journal: ISLAMIC LAW RESEARCH JOURNAL Year:2015 | Volume:15 | Issue:2 (40) Page(s): 207-231

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Information Journal Paper

Title

LEGAL STATUS OF INDEX DERIVATIVE INSTRUMENTS

Author(s)

HOSSEINZADEH JAVAD | Issue Writer Certificate

Keywords

INDEXQ2

FINANCIAL DERIVATIVE INSTRUMENTSQ2

FUTURE CONTRACTQ1

OPTION CONTRACTQ2

SECURITIES MARKETQ1

Abstract

There is for a short time that , by virtue of the article 1(11) of IRI SECURITIES MARKET Act 1384 , financial derivatives market in which FUTURE CONTRACT and OPTION CONTRACT are offered, has started to establish on a limited level. The threshold revenue in such contracts may take the form of goods or securities. From viewpoints of Iranian legal system and Islamic jurisprudence, such contracts have proven to be valid irrespective of their subject (the underlying asset) however the validity of those derivative contracts the underlying asset of which shall be the INDEX has continued to be doubtful.While rejecting the legal opinions raised by now concerning non-validity of financial derivatives made on the INDEX, this article seeks to explain its nullity on a different approach. The outputs of this research shall, inter alia, be: the nullity of INDEX contracts for impossibility of its ownership, its valueless and the lack of the very idea of ‘bargain’ in such contracts. As well as, the article contains a way to validate the contracts concluded upon INDEX.

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APA: Copy

HOSSEINZADEH, JAVAD. (2015). LEGAL STATUS OF INDEX DERIVATIVE INSTRUMENTS. ISLAMIC LAW RESEARCH JOURNAL, 15(2 (40) ), 207-231. SID. https://sid.ir/paper/229413/en

Vancouver: Copy

HOSSEINZADEH JAVAD. LEGAL STATUS OF INDEX DERIVATIVE INSTRUMENTS. ISLAMIC LAW RESEARCH JOURNAL[Internet]. 2015;15(2 (40) ):207-231. Available from: https://sid.ir/paper/229413/en

IEEE: Copy

JAVAD HOSSEINZADEH, “LEGAL STATUS OF INDEX DERIVATIVE INSTRUMENTS,” ISLAMIC LAW RESEARCH JOURNAL, vol. 15, no. 2 (40) , pp. 207–231, 2015, [Online]. Available: https://sid.ir/paper/229413/en

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