Understanding Derivatives: Markets and Infrastructure

This reference materials provide basic information about derivatives.

Chapter 1: Derivatives Overview (Revised, August 2013)

Richard Heckinger

This chapter explains what derivatives are, how they are traded and the role they play in risk management. Read more...

Chapter 2: Central Counterpary Clearing

Robert Steigerwald

This chapter describes what central counterparty clearing is, what its role is in risk management of deriviatives and how it is structured legally. Read more...

Chapter 3: Over-the-Counter Derivatives

Richard Heckinger  Ivana Ruffini  Kirstin Wells

This chapter descibes what over-the-counter derivatives are, who trades them and how they are created and fulfilled. Read more...