Derivative is a financial instrument whose value is derived from another asset called the underlying. Raw products are traded in commodity derivative markets. These commodities are traded on regulated commodity exchanges, in which they are bought and sold in standardized contracts. This book provides a detailed analysis of commodity derivatives which were traditionally developed for risk management purposes and are now growing in popularity as an investment tool. Also, by critically examining the demarcation between the commodity and the security market, this book puts in perspective the need for integration of the two markets, which would enable both markets to benefit from economies of scale and also from the synergy generated between them.