Ask any banker, regulator, chief financial officer, or member of Congress what is most worrisome about international financial markets and the answer is likely to be "derivatives."

Little understood and much maligned, derivatives - the hedging and swap instruments used to manage or exchange interest, currency, and other risks - were the topic du jour when heads of more than 100 of the world's biggest banks met last month in London at the International Monetary Conference.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.