Financial contracts whose value is derived from an underlying asset (such as an index, equities, currency, or commodity). The type of Derivatives is often determined by the underlying asset class, and would be either exchange traded or Over-the-counter. The most common types are Futures and Options (F&O), Forwards/NDFs, and Swaps. Trading derivatives have either a hedging or a profit taking objective and requires platforms capable of handling high complexity and specialized margin and risk management.