How Long to Read Microstructure of the First Organized Futures Market

How Long Does it Take to Read Microstructure of the First Organized Futures Market?

It takes the average reader 4 hours and 10 minutes to read Microstructure of the First Organized Futures Market by Yasuo Takatsuki

Assuming a reading speed of 250 words per minute. Learn more

Description

This book is the first comprehensive account of the rules and practices─the microstructure─of the Dojima Security Exchange (DSE), the world’s first futures market. Despite worldwide interest in the DSE and its relevance to modern financial markets, it is only briefly touched upon as the earliest example of a futures market in most of the existing literature in English. Until the publication of this book, there has been no comprehensive account in English of the rules and practices of the DSE. The DSE emerged in Osaka, Japan, around the turn of the eighteenth century. In Tokugawa Japan (1603–1867), the shogunate and local lords levied taxes in rice and exchanged rice for currency in rice markets to finance their expenditures. Osaka had the biggest rice market in Japan throughout the Tokugawa period, and most local lords stored rice in their own warehouses in Osaka, selling rice at auctions. Successful bidders received “rice certificates” instead of rice itself, and each rice certificate could be exchanged for a pre-specified quantity of rice any time before its expiration at the issuer’s warehouse. These certificates and the futures contracts based on them were actively traded in a market located in Dojima, an area in Osaka. This market was officially approved by the Tokugawa Shogunate in 1730 as the Dojima Rice Exchange. Despite its official name, no rice was actually traded in this market. This historical fact is emphasized by referring to it as the “Dojima Security Exchange” (DSE) in the proposed book.

How long is Microstructure of the First Organized Futures Market?

Microstructure of the First Organized Futures Market by Yasuo Takatsuki is 250 pages long, and a total of 62,500 words.

This makes it 84% the length of the average book. It also has 76% more words than the average book.

How Long Does it Take to Read Microstructure of the First Organized Futures Market Aloud?

The average oral reading speed is 183 words per minute. This means it takes 5 hours and 41 minutes to read Microstructure of the First Organized Futures Market aloud.

What Reading Level is Microstructure of the First Organized Futures Market?

Microstructure of the First Organized Futures Market is suitable for students ages 12 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Microstructure of the First Organized Futures Market?

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