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4 Overview of Derivative Financial Products

Rick Grove

From: International Financial Disputes: Arbitration and Mediation

Edited By: Jeffrey Golden, Carolyn Lamm

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 14 April 2024

Credit default swap (CDS) — Spread swap (CSS) — Total return swap (TRS) — International Swaps and Derivatives Association (ISDA)

This chapter begins with a description of the volatility of financial markets. It then turns to ‘swaps’, a tool developed by banks and investment banks to deal with the increasing volatility in foreign exchange rates, interest rates, and commodity prices in the 1970s. This is followed by a discussions on the founding of the International Swaps and Derivatives Association (ISDA) in 1984 and how companies' use derivatives to manage and hedge their market risks.

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