New Monetary Approach to Commodity Futures Markets as a Part of Financial Markets

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This project aims to analyze current situation about the commodity futures markets that is being integrated into a part of financial markets and to consider how to build a reliable commodity futures markets where general investors can safely invest. Concretely, this project consists of three sub-subjects ;(1) Analysis on price movement in the commodity futures markets,(2) Analysis on new investment vehicles that individual investors can use in order to get returns from commodity investment, and(3) Event-study analysis on the impacts of a large commodity futures company's failure. I found that organizational reform and policy have advanced well, but still few investors use commodity futures and commodity-related investment methods. Furthermore, through integrating commodity futures markets into financial markets, new issues emerge.