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Building the Global Market, a 4000 Year History of Derivatives Hardcover – 29 Feb 2000
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Derivatives trading is now the world's biggest business, with an estimated daily turnover of over US$2.5 trillion and an annual growth rate of around 14 per cent. Derivatives markets have ancient origins, and a long and complex history of trading and regulation. This work examines the history of derivative contracts, their assignability and the regulation of derivatives markets from ancient Mesopotamia to the present day. The author concludes with an analysis of future regulatory prospects and of the implications of the historical data for derivatives trade and regulation.
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20 October 2013
Format: HardcoverVerified Purchase
The price tag on this book is a bit high. But I found it very good value for money. Maybe you have heard that futures were born at CBOT in Chicago, or even longer ago at Dojima in Japan. This book will give the entire history, well illustrated, going back to Mesopotamia. The "long ago" is for many the first swap in 1981. When you hear the chairman of supervisory authorities say such things as derivatives have never been regulated, you will in this book learn how it was regulated four thousand years ago, 800 years ago in Britain, etc. I have looked everywhere for many years for information on the history of derivatives and the political dynamics on regulation. I found it all in this wonderful book. I loved it and I cannot recommend it enough.