Great expectations

New derivatives product launches appear all the time. Some literally change the course of the financial markets, while others fade away with little more than a whimper. Mark Pengelly looks at the products that were heralded as major developments, but have since been consigned to the derivatives trash heap


Twenty years of dynamism in the over-the-counter derivatives market have yielded some astonishing successes. Red-hot competition has fuelled continuous innovation, and created in its wake a phalanx of new derivatives products. Many of them have made an active and visible contribution to the explosive growth of the derivatives market. Credit default swaps (CDSs), for example, came from humble beginnings to constitute a market worth $34.5 trillion in 2006, according to the International Swaps and

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here