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Lecture Financial derivatives - Lecture 1: Introduction

Lecture Financial derivatives - Lecture 1: Introduction. In this chapter, students will be able to understand: Introduction, types of derivatives, participants in the derivatives world, uses of derivatives, effective study of derivatives. | Dr. Umara Noreen Academic Credentials PhD in Management Sciences (Foundation University, Islamabad) Distinction (Merit) 2010 Masters in Business Administration (Quaid-e-Azam, University, Islamabad) B.Sc (Karachi University, Karachi) Distinction (Gold Medalist) Teaching Experience COMSATS INSTITUTE OF INFORMATION TECHNOLOGY, (March 2007-date). BAHRIA INSTITUE OF MANAGEMENT AND COMPUTER SCIENCES (BIMCS) (JAN 2006-Feb 2007). UNIVERSITY OF ARID AGRICULTURE, Rawalpindi (Oct 2005-Feb 2007). ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD. (January 2004-January 2005). BARANI INSTITUTE OF INFORMATION TECHNOLOGY, Rawalpindi, (January 2001 to March 2005). PRESTON UNIVERSITY, ISLAMABAD. (February 1998 to March 2000). Outline Introduction Types of derivatives Participants in the derivatives world Uses of derivatives Effective study of derivatives Introduction There is no universally satisfactory answer to the question of what a derivative is Often when a market participant suffers a large newsworthy loss, the term “derivatives” is used almost as if it were an explanation. Introduction (cont’d) Futures and options markets are very useful, perhaps even essential, parts of the financial system Futures and options markets have a long history of being misunderstood Introduction (cont’d) “What many critics of equity derivatives fail to realize is that the markets for these instruments have become so large not because of slick sales campaigns, but because they are providing economic value to their users” Alan Greenspan, 1988 Types of Derivatives Categories of derivatives Options Futures contracts Swaps Product characteristics Categories of Derivatives Futures Listed, OTC futures Forward contracts Options Calls Puts Swaps Interest rate swap Foreign currency swap Derivatives Options An option is the right to either buy or sell something at a set price, within a set period of time The right to buy is a call option The right to sell is a put option You can . | Dr. Umara Noreen Academic Credentials PhD in Management Sciences (Foundation University, Islamabad) Distinction (Merit) 2010 Masters in Business Administration (Quaid-e-Azam, University, Islamabad) B.Sc (Karachi University, Karachi) Distinction (Gold Medalist) Teaching Experience COMSATS INSTITUTE OF INFORMATION TECHNOLOGY, (March 2007-date). BAHRIA INSTITUE OF MANAGEMENT AND COMPUTER SCIENCES (BIMCS) (JAN 2006-Feb 2007). UNIVERSITY OF ARID AGRICULTURE, Rawalpindi (Oct 2005-Feb 2007). ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD. (January 2004-January 2005). BARANI INSTITUTE OF INFORMATION TECHNOLOGY, Rawalpindi, (January 2001 to March 2005). PRESTON UNIVERSITY, ISLAMABAD. (February 1998 to March 2000). Outline Introduction Types of derivatives Participants in the derivatives world Uses of derivatives Effective study of derivatives Introduction There is no universally satisfactory answer to the question of what a derivative is Often when a market participant suffers a large .