Financial derivatives markets are a relatively new development globally. In the USA, the first commodity derivatives trading began in Chicago at the Chicago Board of Trade in 1849. However, the first financial derivatives trading did not begin until 1972, when the Chicago Mercantile Exchange began trading futures contracts on seven foreign currencies. These were the world's first official financial futures contracts. In Europe, the oldest financial derivatives market was the London International Financial Futures Exchange, or LIFFE, which began trading financial futures in 1982.
Chi, J. and Young, M. (2006), "The development of financial derivatives markets in an expanded eu", Batten, J.A. and Kearney, C. (Ed.) Emerging European Financial Markets: Independence and Integration Post-Enlargement (International Finance Review, Vol. 6), Emerald Group Publishing Limited, Bingley, pp. 215-234. https://doi.org/10.1016/S1569-3767(05)06009-7Download as .RIS
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