<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0186-1042</journal-id>
<journal-title><![CDATA[Contaduría y administración]]></journal-title>
<abbrev-journal-title><![CDATA[Contad. Adm]]></abbrev-journal-title>
<issn>0186-1042</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Facultad de Contaduría y Administración]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0186-10422020000200006</article-id>
<article-id pub-id-type="doi">10.22201/fca.24488410e.2020.1900</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Impacto de la introducción del contrato futuro del maíz amarillo en la volatilidad del precio spot: evidencia del MexDer]]></article-title>
<article-title xml:lang="en"><![CDATA[Impact of the introduction of the yellow corn futures contract on spot price volatility: Evidence from MexDer]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Zavaleta Vázquez]]></surname>
<given-names><![CDATA[Osmar Hazael]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Instituto Tecnológico y de Estudios Superiores de Monterrey EGADE Business School ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2020</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2020</year>
</pub-date>
<volume>65</volume>
<numero>2</numero>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0186-10422020000200006&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0186-10422020000200006&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0186-10422020000200006&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen En Octubre del 2012 se introdujo el Futuro del Maíz Amarillo en el Mercado Mexicano de Derivados. Las autoridades del Sistema Financiero Mexicano esperan que: a) sea un instrumento de cobertura más apropiado para los productores mexicanos, dado que se opera en pesos y cada contrato es por 25 toneladas; b) su introducción contribuya en la disminución de la volatilidad en el mercado físico del maíz. Mediante el uso de estructuras GARCH, los resultados proporcionan evidencia robusta para afirmar que hubo una disminución en la volatilidad del precio físico del maíz amarillo, una vez que el contrato futuro fue introducido.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract In October of 2012 the authorities of the Mexican Derivatives Exchange introduced the Yellow Corn Futures Contract in order to provide a more flexible mechanism of hedging to Mexican producers, given that this contract will be traded in Mexican Pesos and will be of 25 metric tons. On the other hand, it is also expected that this futures contract to contribute to volatility reduction of yellow corn in the spot market. Employing GARCH models, robust evidence is found to express that once the Futures Contract started operating the price volatility of this grain, in the spot market, was reduced.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[G14]]></kwd>
<kwd lng="es"><![CDATA[G15]]></kwd>
<kwd lng="es"><![CDATA[G18]]></kwd>
<kwd lng="es"><![CDATA[G23]]></kwd>
<kwd lng="es"><![CDATA[G28]]></kwd>
<kwd lng="es"><![CDATA[G32]]></kwd>
<kwd lng="es"><![CDATA[Contratos futuros]]></kwd>
<kwd lng="es"><![CDATA[Maíz amarillo]]></kwd>
<kwd lng="es"><![CDATA[Volatilidad]]></kwd>
<kwd lng="es"><![CDATA[Modelos ARCH y GARCH]]></kwd>
<kwd lng="es"><![CDATA[Análisis de series de tiempo]]></kwd>
<kwd lng="en"><![CDATA[G14]]></kwd>
<kwd lng="en"><![CDATA[G15]]></kwd>
<kwd lng="en"><![CDATA[G18]]></kwd>
<kwd lng="en"><![CDATA[G23]]></kwd>
<kwd lng="en"><![CDATA[G28]]></kwd>
<kwd lng="en"><![CDATA[G32]]></kwd>
<kwd lng="en"><![CDATA[Futures contracts]]></kwd>
<kwd lng="en"><![CDATA[Yellow corn]]></kwd>
<kwd lng="en"><![CDATA[Volatility]]></kwd>
<kwd lng="en"><![CDATA[ARCH and GARCH models]]></kwd>
<kwd lng="en"><![CDATA[Time series analysis]]></kwd>
</kwd-group>
</article-meta>
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