JP Morgan unveils new multi-commodity index

Unlike existing passive benchmark indexes that reference commodities, the index includes single commodity contracts with maturities as long as three years. The weighted average tenor of the index is eight months.

The index is made up of, and weighted according to, all outstanding eligible commodities in the market.

"We wanted to represent all investment opportunities available through commodity futures," said JP Morgan's John Normand, head of global cur-rency strategy and cross-commodity