Development of Exchange-Traded Derivatives Markets in Selective Central and Eastern European Countries
The transition economies of Central and Eastern Europe are trying to construct viable modern financial markets which provide a wide range of financial instruments. The paper focuses on the evolution of exchange-traded derivatives in Czech Republic, Hungary, Poland and Romania. The results indicate that the most developed exchange-traded derivatives market is the Polish one. In Hungary, the derivatives on currency rates and stock index futures are the most popular, while in Romania, trading takes place almost only in the market for futures on individual stocks. The use of derivatives in these countries is still limited even though some of these markets have registered a significant development. The main products have as underlying stock and currencies, while interest rate based instruments are still illiquid and underdeveloped.
Volume (Year): XI (2011)
Issue (Month): 1 (May)
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