Three Models of Derivatives’ Regulation. Some Thoughts on the Entanglement between Economic Theory and the Evolution of Law
Three Models of Derivatives’ Regulation. Some Thoughts on the Entanglement between Economic Theory and the Evolution of Law

Summary/Abstract: The paper aims at analysing whether the evolution of options, futures and other derivatives is an effect of a wider impact of the evolution of financial market and economic theories upon legal system. This constitutes, however, a part of a wider topic, namely the legal approach to risk, uncertainty and speculation. Thus it is crucial to examine whether recent regulation of financial markets and exempting such transactions as options, futures or swaps, performed by set-off from the existing anti-speculative regulation (or abolishing of the majority of anti-speculative rules) may have a wider impact on the notion of risk in law and theory of regulation.

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