经济英语1学习课件.pptVIP

1 IntroductionChapter 1 2 The Nature of Derivatives A derivative is an instrument whose value depends on the values of other more basic underlying variables 3 Examples of Derivatives Swaps Options Forward Contracts Futures Contracts Derivatives Markets Exchange Traded standard products trading floor or computer trading virtually no credit risk Over-the-Counter non-standard products telephone market some credit risk 4 Ways Derivatives are Used To hedge risks To reflect a view on the future direction of the market To lock in an arbitrage profit To change the nature of a liabilit