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RBA Glossary definition for NHP

NHP – Net Hedging Positions

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Financialisation and the Term Structure of Commodity Risk Premiums

1 May 2017 RDP 2017-03
Jonathan Hambur and Nick Stenner
to the NHP when the risk-bearing capacity of broker-dealers is low (i.e. ... We define NHP to be net commercial positions, scaled by gross commercial positions, or:.
https://www.rba.gov.au/publications/rdp/2017/2017-03/full.html
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Financialisation and the Term Structure of Commodity Risk Premiums

24 May 2017 RDP PDF 1495KB
contemporaneous relationship between the NHP and returns on commodities futures (an ex post. ... As discussed above, empirical identification of a relationship between NHP and commodity risk.
https://www.rba.gov.au/publications/rdp/2017/pdf/rdp2017-03.pdf