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일본 상품선물거래소의 거래방법 및 가격형성에 관한 고찰

A Study on the Trading Methods of the Commodity Futures Markets in Japan

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Commodity futures market in Japan is divided into two methods of trading: one is systems trading, continuous computerized trading, and another is Itayose trading, an auction-like form of session trading under which all orders are treated as having arrived at the same time. The purpose of this study is to compare two methods looking at the commodity prices of them. The result suggests that the futures price of single price session trading can be used as the index of spot price, and that the single price session trading fits trading method in a small scale market.

Abstract

Ⅰ. 서론

Ⅱ. 일본 상품선물거래소의 거래방법

Ⅲ. 거래체결 방식에 따른 선물가격 형성과정

Ⅳ. 결론

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