This book is an excellent textbook for beginners in the study of derivative financial instruments (derivatives). Derivatives are at the heart of many trading strategies, and although they have been around for a very long time, their scope continues to expand as financial markets develop. Some derivative instruments are extremely simple, while others are very complex, but in any case, for their effective use, it is necessary to clearly understand the risks and rewards associated with them. The book will be of interest to traders, analysts, banking specialists, as well as investors, managers, students and teachers of economic universities .2nd edition.