derivaták

Derivaták, also known as derivatives, are financial contracts whose value is derived from an underlying asset, group of assets, or benchmark. These underlying assets can include stocks, bonds, commodities, currencies, interest rates, and market indexes. Derivatives are not physical assets themselves but rather agreements to buy or sell an asset at a specific price on a future date.

The primary purposes of derivatives include hedging, speculation, and arbitrage. Hedging involves using derivatives to reduce or offset the risk associated with price fluctuations in an underlying asset. Speculators use derivatives to bet on the future direction of an asset's price, aiming to profit from anticipated movements. Arbitrageurs seek to exploit price discrepancies between the derivative and its underlying asset in different markets to achieve risk-free profits.

Common types of derivatives include futures contracts, options contracts, forwards contracts, and swaps. Futures and forwards contracts obligate the buyer to purchase and the seller to sell an asset at a predetermined price on a specified future date. Options contracts, on the other hand, give the buyer the right, but not the obligation, to buy or sell an underlying asset at a specific price within a certain timeframe. Swaps are agreements between two parties to exchange cash flows or liabilities from two different financial instruments.

Derivatives can be traded on organized exchanges or over-the-counter (OTC). Exchange-traded derivatives are standardized and cleared through a central counterparty, offering greater transparency and reduced counterparty risk. OTC derivatives are customized agreements negotiated directly between two parties and can carry higher counterparty risk. The complexity and leverage inherent in some derivatives can also lead to significant risks if not managed properly.