De Beer, Johan2011-05-302011-05-302009De Beer, J 2009, 'Changes in the volatility level and structure of shares post single stock futures trading', Corporate Ownership & Control, vol. 7, no. 2, pp. 296-311. [http://www.virtusinterpress.org/]http://hdl.handle.net/2263/16656The introduction of single stock futures to a market presents the opportunity to assess an individual company’s response to futures trading directly, in contrast to the market-wide impact obtained from index futures studies. The listed shares of thirty-eight South African companies were evaluated in terms of a possible volatility effect due to the initial trading of their respective single stock futures contacts. A GARCH(1,1) model established a volatility structure (pattern of behaviour) per company. Results, in general, showed a reduction in the level and changes in the structure of spot market volatility post single stock futures.enVirtus EnterpressEquity shareholdingVolatility levelVolatility structureSpot marketSingle stock futuresGARCH modelFutures marketArticle