Derivatives Markets and Systematic Risks: Some Reflections

Chritian De Boissieu

The European Journal of Finance, 1995, vol. 1, issue 1, 57-68

Abstract: Derivatives are an essential part of risk management by all economic agents (financial or non financial). They contribute, with other financial innovations, to the allocative efficiency. Under certain circumstances they could also generate systemic risks. The purpose of this article is to underline the dramatic growth of derivatives instruments and the articulation between OTC and exchange-traded markets. The current debate about the regulatory framework applied to derivatives instruments and the implementation of internal control procedures (leading to more appropriate disclosure and reporting standards) is also discussed.

Keywords: derivatives markets; over-the-counter contracts; systemic risks; regulation; internal control (search for similar items in EconPapers)
Date: 1995
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DOI: 10.1080/13518479500000008

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