CHAPTER 5

The Market Players

As a big-picture survey of the derivatives market, Part I of this book touched on market structure and market players at a high level. Understanding the market structure is an essential part of learning derivatives processing and operations. Accordingly, Part II delves into market structure, beginning with this chapter on market players.

This chapter outlines the various players and their market segments and discusses their respective roles in the market. Close attention is given to the key players: buy-side institutions, sell-side institutions, exchanges, clearinghouses, and service providers. Finally, regulatory and non-regulatory organizations from key world markets are discussed.

The objectives of this chapter ...

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