 आपाल ब्च़टार, उसमें लाहे रख्प्माने, ईजी अग्प्माने मैं से साब घरीवेटीव्स झूुग आपकर देरीवेटीव्स ने नहींंहे लादन काई से नहींव वेंद्र्बाद्टिली कोई अहने देरीवेटीवु istiyorum, अग्प्माने अदेरीवेटीव्स ऐसया आ as an indispensable tool for risk management and investment purposes both. Derivatives are used by more than 94% of world largest companies यतनी बड़ी कमपनीज हैं, उसके अगर अगर फनाँच्योंस देखें, अगर पोजीशनस देखें 95-94% of them are engaged and having derivatives. तो यह एक नहीं पोईन्द अई अंदिकेटर है, कितनी जदनी जदनी जदना है, कितना उसका रोल है. यह पर कुश्वार, रोला पूब परपस के लिए यह देखें जदनी लगने है. यह जदनी लगने बसे देखें नहीं लगने गए आद लिए नहीं तो लोगने आद गचा. उसके लगने वाईट प्रत लोगने वागत नहीं जदने वागत होगजी. to hedge the risk the investor could purchase a currency derivative to log in a specified exchange because as i told you that transactions are very tank globally so there is a currency risk which is used to hedge derivatives in that currency's future, currency swaps, different modes are used globally to be used by speculators a speculator who expects your, for example, you think that Euro's price is going to rise and you enter into a derivative which thinks and on the assumption that Euro price will go up so you are more like a speculator speculator a negative word also happens but in the derivative market if you are not having a real need and you enter into a position to gain profit it is referred to as speculator so you think that Euro has to rise and you enter into a position and as the price increases you will get the benefit when using the derivative to speculate on price movement under the investor does not need to have holding or portfolio presence it is not necessary to have portfolio on the back end or it is not necessary to have a real Euro payment or it is not necessary to have a receipt they can have a position just to make profits to protect against price changes price variations were saved for derivatives international corporation and financial institutions used derivatives to protect themselves from change in value of raw materials like oil is very useful oil is raw material for many countries so to hedge that multiple contracts are being done interest rates are also done so it is a long list underlying which derivatives work derivatives contribute to economic growth and increase the efficiency of market this is a very important point that it improves market efficiency because derivatives go towards price discovery i.e. price correction if there are very few trades then prices can remain inefficient but when there is a lot of derivatives and a lot of people following prices tends to improve very quickly further they have very low overall transaction costs compared with investing directly if you want to buy 1000 shares for example any company if you want to buy a lucky cement share then it is a high band share so you need lakhs of rupees but if you want to go to futures then you will be required less of the money if you go to derivatives then less money is required allow fast product innovation because new contract can be introduced innovation comes lastly can be customized need is customized thank you