Derivátívák

Derivátívák, often referred to as derivatives in English, are financial contracts whose value is derived from an underlying asset or group of assets. This underlying asset can be a stock, bond, commodity, currency, interest rate, or even an index. Derivatives are not assets themselves but rather agreements about the future price of an asset.

The primary purpose of derivatives is to manage risk. They allow parties to hedge against potential price fluctuations in the underlying asset. For instance, a farmer might use a futures contract to lock in a price for their crop, protecting them from a potential price drop. Conversely, derivatives are also used for speculation, where traders bet on the future direction of an asset's price.

There are several common types of derivatives. Futures contracts are standardized agreements to buy or sell an asset at a predetermined price on a specific future date. Options give the buyer the right, but not the obligation, to buy or sell an asset at a specified price within a certain timeframe. Swaps involve exchanging cash flows between two parties based on different financial instruments, often interest rates or currencies.

While derivatives can be powerful tools for risk management and investment, they also carry significant risks. Their complexity and leverage can lead to substantial losses if not understood and managed properly. The financial crisis of 2008 highlighted some of the systemic risks associated with the widespread use of certain complex derivative products.