Derivative financial products are a class of financial contract whose value depends upon that of underlying assets or indices of asset values. Derivatives have become an integral part of modern financial risk management. The course examines the legal regime governing derivatives trading together with legal issues facing those designing these financial products. This course covers the following topics: the general structure and regulation of exchange traded derivatives and over the counter derivatives; definition of futures contracts and dealings; the licensing of brokers and advisers; brokers duties; market offences such as bucketing, churning, fraud, manipulation, and dissemination of false and misleading information; over the counter markets; options; swaps, forwards and hybrids; FOREX and capital markets; ISDA documentation; netting; enforceability issues; self-regulatory organisations.