Preface
There is no business without risk. Decision makers often have to face risk and uncertainty. Instead of searching for risk-free alternatives, they learn to take calculated risks. In this process, several innovative approaches and instruments emerged. Derivatives are instruments of risk management. Academicians and market participants over a period of time contributed immensely to the development, valuation and improvement of these instruments. In recent times, there is growing awareness and concern among managers and regulators regarding the usage of derivatives. Even though the market for derivative trading has expanded worldwide, the usage of derivatives has brought with it instances where greedy market participants hoodwinked regulators ...
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