Читать книгу Derivatives - Pirie Wendy L. - Страница 8

After completing this chapter, you will be able to do the following:

• define a derivative and distinguish between exchange-traded and over-the-counter derivatives;

• contrast forward commitments with contingent claims;

• define forward contracts, futures contracts, options (calls and puts), swaps, and credit derivatives and compare their basic characteristics;

• describe purposes of, and controversies related to, derivative markets;

• explain arbitrage and the role it plays in determining prices and promoting market efficiency.