Author : Lecturer Iiham Khaz, Assist.
Volume 27, Issue 18, Pages 12-66
The sudden turnovers that the financial markets witnessed recently, including the fluctuations in the rate of exchange, rate of interest, prices of commodities, and other assets have become one of the sailent phenomena in the world economy . These turnovers have resulted from the structural changes that the economy was exposed to those changes cover the assessment of rates of exchange and the collapse of the Briton woods system, and also the abolishment of limitations and obstacles in the flow of capital across borders .
These turnovers formed a serious danger threatening the world financial and bank organizations. The threat extended to their existence . For these reasons financial derivatives markets have come into being to form a new world based on the Financial Engineering .
The increasing significance of the new financial tools and their role in the movement of capital and comedies too, they have the major role in the globalization of financial activity worldwide so that they become an important pillar in the financial globalization.