Posted 9/16/2014 16:43 (#4077759 - in reply to #4077600) Subject: RE: It is zero sum
To say the exchange does not provide an efficiency is as inaccurate as saying that price are determined there. The exchange offers buyers and seller the opportunity to transfer price risk to someone else whenever they choose to transact. There is no value created on an exchange (zero sum) but it does allow for transperancy and efficiency.
Question for producers and endusers.
