Anyone seeking a clear introduction and guide to the complex world of commodity and futures trading will find everything they need in this book. Topics covered include: the development of the futures marketplace * the structure of the futures exchanges * clearing operations * hedging to manage risk * speculating in the futures markets * price analysis, and more.
All the important markets for commodities and futures--including agricultural products, financial futures, metals, forest and fiber products, food products, and the all-important energy markets--are described in detail. There is also in-depth information on various spreading strategies and options on futures, plus expert analysis of the likely future development of competition, over-the-counter markets, and electronic trading.