What's the score?
The derivatives market has come a long way since the first issue of Risk magazine was published in December 1987. Nick Sawyer looks back at the early days of the swaps market and some of the seminal moments that have helped shape the business
The stock market crash of October 1987 - known as Black Monday - turned out to be extremely fortunate timing for Risk magazine. Investors were left reeling from the nose-dive in stock markets around the globe, with the Dow Jones Industrial Average plummeting by 22.61% on October 19 - the largest single-day percentage decline since 1914. At that time, Risk was in the final stages of preparation for
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