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Managing Derivatives Contracts : A Guide to Derivatives Market Structure, Contract Life Cycle, Operations, and Systems by Khader Shaik

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CHAPTER 1

The Derivatives Market

Derivatives play a vital role in today’s global economy. They are powerful and versatile tools. Derivatives enable financial institutions, large corporations, and high-net-worth individuals to manage their exposure to financial risk in its manifold forms. The global derivatives market operates seamlessly around the clock, trading a constantly mutating variety of complex instruments on rapidly changing technology platforms.

The pace and direction of these changes have been hastened and shaped by the financial crisis of 2008 and its recessionary aftermath. These events exposed systemic shortcomings and catastrophic perils in the derivatives market and antagonized public perception of it. The phasing in of root-and-branch ...

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