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 percent. Despite the fact that derivatives markets have ancient origins, little has been written about their long and complex history of trading and regulation.
This unique new 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.
Building the Global Market will be of great value to the legal profession, derivatives market regulators and all those with an interest in the history and regulation of financial services markets.
- The Case for a Legal History of Derivatives
- Derivatives in the Ancient Middle East
- Derivatives in Ancient Greece and Rome
- Derivatives in the Post-Roman Era (476-1204)
- Derivatives in the Middle Ages (13th - 15th Centuries)
- The Growth of Trade in Northern Europe and England (16th - 17th Centuries)
- Trade in the 18th Century
- The First Half of the 19th Century
- The Impact of the Global Market (1848 to Beyond 2000)
- Comparative Summary and Conclusions on the Legal History of Derivatives