Derivategeschäfte

Derivategeschäfte, often simply called derivatives, are financial contracts whose value is derived from an underlying asset. This underlying asset can be a wide range of financial instruments such as stocks, bonds, commodities, currencies, interest rates, or market indexes. Derivatives are not investments in themselves but rather agreements between two or more parties to buy or sell an asset at a predetermined price on a future date.

The primary purpose of derivatives is to manage risk. They allow investors and businesses to hedge against potential price fluctuations in the underlying assets. For example, a farmer might use a futures contract to lock in a selling price for their crops, protecting them from a potential drop in market prices. Conversely, derivatives are also used for speculation. Traders can use them to bet on the future direction of an asset's price, potentially generating significant profits if their predictions are correct, but also facing substantial losses.

Common types of derivatives include futures, forwards, options, and swaps. Futures contracts are standardized agreements traded on exchanges, obligating the buyer to purchase an asset and the seller to sell it at a specified price and date. Options give the buyer the right, but not the obligation, to buy or sell an asset at a specific price before a certain date. Swaps involve the exchange of cash flows between two parties, often related to interest rates or currencies. The complexity and leverage inherent in derivatives mean they can be used to amplify both gains and losses, making them instruments that require careful understanding and management.