... the expiration week for various commodities markets. The results confirm the asymmetry in the efficiency of futures contracts in hedging price risks across markets. For metal markets such as copper, gold and silver, the rate of convergence is about contemporaneous during the expiration week of the futures...

... developed by Garbade et al. by superimposing a two‐regime TVAR model to quantify the price discovery process. It is the first paper to analyze the differential impact of price discovery and convergence during expiration week (compared to non‐expiration weeks) for the Indian commodities market...