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Part 16

Part 16

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Published by: api-3848722 on Oct 18, 2008
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03/18/2014

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1
Part-16
An Introduction to Derivatives
2
What is a Derivative
Security?
\ue000Derivative securities, more

appropriately termed as derivative
contracts, are assets which confer the
investors who take positions in them
with certain rights or obligations.

3
Why Do We Call Them
Derivatives?
\ue000They owe their existence to the

presence of a market for an
underlying asset or portfolio of assets,
which may be considered as primary
securities.

\ue000Consequently such contracts are derived
from these underlying assets, and hence
the name.
\ue000Thus if there were to be no market for
the underlying assets, there would be no
derivatives.

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