Introduction

Jiří Witzany

Chapter 1 in Derivatives, 2020, pp 1-18 from Springer

Abstract: Abstract Derivatives are financial instruments that are built on (derived from) more basic underlying assets. They are designed to transfer risk easily between different counterparties. Instruments such as forwards, futures, swaps, or options are nowadays normally used by banks, asset managers, or corporate treasurers for hedging or speculation. Trading with derivatives has become increasingly important in the last 30 years throughout the world. It has been made easier due to electronic communication and settlement systems, and has grown exponentially in recent years. On the other hand, derivatives are closely related to many bank failures and even many financial crises, including the global financial crisis of 2007–2008. This chapter will introduce the basic derivative product types and provide a detailed overview of the derivative markets’ institutional framework and their recent developments.

Date: 2020
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DOI: 10.1007/978-3-030-51751-9_1

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