Climate system protection from the legal point of view The global warming is one of the most serious and acute problem, that is touching all the global society. Growing of the greenhouse gasses is evoking the change of climate system, especially the warming of the Atmosphere and the Earth. In the last 100 years the temperature rises, what cause a lot of problems not just on the environment, but impacts on human health and society. Many of recent scientist studies clearly indicate, that climate changes are a result of human activities. Consequences of the global warming have been observed for several years, included rising global average temperature, rising of the sea level, melting glaciers and severity of extremes such as heat waves, cold waves, storms, floods and droughts. To preclude this consequences, there is necessary a global action with participation of every country. The aim of the diploma thesis is an introduction to the reader create a picture of the functioning of the climate system and its changes, causes and consequences of these changes and clarify the activities to protect, whether it is the activities of international, multinational or the Czech Republic. Finally, I will try to assess the individual activities and measures, including measures of adaptation, or to compare them and...

Orienté vers le libre-échange, le droit de l’Organisation Mondiale du Commerce est basé sur plusieurs principes fondamentaux : la non-discrimination, la réciprocité et la réduction progressive des obstacles au commerce. Il existe des mécanismes répondant à l’impératif d’adaptabilité nécessaires aux membres pour faire face à des situations exceptionnelles afin d’intégrer de la souplesse dans l’application du droit de l’OMC et de déroger aux principes et règles régissant le commerce international. Cela vaut aussi bien en période de crise qu’indépendamment de l’environnement économique général, dès lors que les conditions sont réunies pour que les membres les mettent en œuvre. La crise économique de 2008 a fait craindre un recours accru, voire abusif, à ces instruments d’exception, de dérogation, de sauvegarde, ce qui signifierait un retour à des pratiques protectionnistes. La réflexion sur l’utilisation de ces outils permet la mise en évidence des instruments proposés par le droit de l'OMC pour faire face à des situations qui nécessitent un frein au libre-échange. Elle précise également les pratiques des Membres, la logique générale de ces mécanismes de flexibilité et l’équilibre entre les principes orientés vers le libre-échange et les exceptions qui supposent des restrictions au commerce. Les questions qui se posent doivent conduire à étudier l’ensemble de ces instruments de flexibilité, l’articulation entre ces instruments et ceux des autres organisations internationales en lien avec l’OMC, le rôle du juge de l’OMC dans les différends liés à l’utilisation de ces mécanismes et les perspectives d’évolution ou de réformes des instruments de flexibilité du droit de l’OMC / Oriented toward free trade, the World Trade Organization law is based on several fundamental principles: non-discrimination, reciprocity and the gradual reduction of trade barriers. There are mechanisms that respond to the need for adaptability necessary for Members to deal with exceptional situations in order to incorporate flexibility in the application of WTO law and depart from the principles and rules governing international trade. This applies both in times of crisis, and irrespective of the general economic environment, as soon as the conditions seem to require Members to implement them. The economic crisis of 2008 has raised fears of increased use or abuse of these instruments of exception, derogation (waivers), or safeguard, all of them constituting actions that would mean a return to protectionist practices. Reflection on the use of these tools allows the identification of instruments proposed by the WTO law to deal with crisis and more generally to situations that require a barrier to free trade. But beyond that, it specifies the practices of Members in the use of these tools, the general logic of these mechanisms for flexibility and the balance between the free-trade oriented principles and the exceptions that involve restrictions on trade. The questions then raised should lead to consider all of these instruments of flexibility, the articulation between these instruments and those of other international organizations in connection with the WTO, the judge's role in WTO disputes related to the use of these mechanisms, and the prospects of change or reform of flexibility instruments WTO law

This dissertation is a collection of three economics essays on different aspects of carbon emission trading markets. The first essay analyzes the dynamic optimal emission control strategies of two nations. With a potential to become the largest buyer under the Kyoto Protocol, the US is assumed to be a monopsony, whereas with a large number of tradable permits on hand Russia is assumed to be a monopoly. Optimal costs of emission control programs are estimated for both the countries under four different market scenarios: non-cooperative no trade, US monopsony, Russia monopoly, and cooperative trading. The US monopsony scenario is found to be the most Pareto cost efficient. The Pareto efficient outcome, however, would require the US to make side payments to Russia, which will even out the differences in the cost savings from cooperative behavior. The second essay analyzes the price dynamics of the Chicago Climate Exchange (CCX), a voluntary emissions trading market. By examining the volatility in market returns using AR-GARCH and Markov switching models, the study associates the market price fluctuations with two different political regimes of the US government. Further, the study also identifies a high volatility in the returns few months before the market collapse. Three possible regulatory and market-based forces are identified as probable causes of market volatility and its ultimate collapse. Organizers of other voluntary markets in the US and worldwide may closely watch for these regime switching forces in order to overcome emission market crashes. The third essay compares excess skewness and kurtosis in carbon prices between CCX and EU ETS (European Union Emission Trading Scheme) Phase I and II markets, by examining the tail behavior when market expectations exceed the threshold level. Dynamic extreme value theory is used to find out the mean price exceedence of the threshold levels and estimate the risk loss. The calculated risk measures suggest that CCX and EU ETS Phase I are extremely immature markets for a risk investor, whereas EU ETS Phase II is a more stable market that could develop as a mature carbon market in future years.

This thesis deals with the design, implementation and optimization of the automated trading system for the foreign exchange market. Thesis analyses theoretical aspects for the system implementation, including introduction of foreign exchange market, types of market analysis, money management, risk management and technical indicators. The thesis further describes, what is required for development of such system and what important parts the system must contain. The work also describes how the system can be tested and optimised based on historical data.

This master’s thesis primary deals with a design and a development of own automated trading system which is specialized for commodity markets, especially corn, soybean, wheat and slightly for gold. You can find theoretical basics of technical analysis here, then technical indicators, risk management and trading systems themselves. System is completely designed and programmed in MetaTrader trading platform with using programming language MQL and genetic algorithms. The output of this thesis is portfolio containing six trading strategies which achieved totally 42,4 % increase in three months at the end of year 2014.

Focus of master's thesis is usability of automated trading of commodities with automated trading systems – expert advisors. Thesis describe theoretical background of commodity markets, trading principles, technical analysis of market, design and implementation of strategy as expert advisor. In conclusion, results are analyzed.

The content of this diploma thesis is building an automatic trading system and its exact description. The thesis is focused on the classification of system requirements and on this base selection of underlying asset, which is defined by the forex contracts category.

This diploma thesis deals with theoretical and practical aspects of the commodity mar-ket. The automated trading system is designed and described there, which is focused on oil trades. The theoretical background as technical analysis, technical indicators descrip-tion or money management in trading, are described. The practical part of the thesis is focused on the analysis of oil market and the proposition of several strategies. These strategies are implemented subsequently to MQL4 language and tested on historical data.

This diploma thesis deals with the Triple Screen trading system in the theoretical and practical level. As part of the work semiautomatic trading system, which focuses on trading with corn is designed. Previously, there are discussed theoretical assumptions necessary for the successful implementation of the trading system. There is explained and described deal with corn and principles and possibilities nowadays. The practical part includes the creation of custom application in Matlab development environment and scripting language. Using this application is simulated trading corn with selected trend indicators and oscillators. Using historical data there is found the best combination of indicators and it is subsequently applied on the following dates.

The thesis deals with designing an automated trading system, especially for intra-day trading the currency markets. The aim is to create a comprehensive theoretical background, practical work knowledge can be used to develop appropriate automated trading system. The thesis is an emphasis on technical and partly a psychological analysis of currency markets. Designed system will be suitably optimized to maximize profits and stability of applications on the most liquid currency pairs.