Abstract
It is useful to differentiate between the market for derivatives and the markets for credit and capital, despite the existence of some structured products which blend elements of credit-market and capital-market products – collateralized debt obligations, for instance. Share options are the classic example of capital-market derivatives, and interest-rate swaps the classic example of credit-market derivatives. Given the more complex nature of the market for derivative products, it seems appropriate to treat this market separately as a market in its own right, even if there are also credit-market derivatives, capital-market derivatives, and hybrid derivative products that can be seen as hybrids consisting of credit-market products and capital-market products, although they are not hybrid securities in the narrower sense, as convertible bonds are.
Keywords
- Underlying Asset
- Gross National Income
- Derivative Market
- Convertible Bond
- Collateralized Debt Obligation
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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© 2011 Springer Science+Business Media B.V.
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Koslowski, P. (2011). The Ethical Economy of the Market for Derivatives: Trading with Values Derived from Other Values for Hedging, Speculation, and Arbitrage. In: The Ethics of Banking. Issues in Business Ethics, vol 30. Springer, Dordrecht. https://doi.org/10.1007/978-94-007-0656-9_6
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DOI: https://doi.org/10.1007/978-94-007-0656-9_6
Publisher Name: Springer, Dordrecht
Print ISBN: 978-94-007-3592-7
Online ISBN: 978-94-007-0656-9
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