Learning ObjectivesDerivatives: Legal DefinitionMajor Types of DerivativesParticipants in the Derivatives MarketHistory and Legalization of Derivatives in IndiaAdditions and Amendments to Securities Contract (Regulation) Act, 1956 to Legalize the Derivative as Exchange Traded Contract 18Amendments and Additions to Reserve Bank of India Act, 1934 to Legalize OTC DerivativesIntroduction of Currency Futures and Options on Exchanges in IndiaTest Your Understanding