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In the last decade, many emerging and transition economies have started introducing derivative contracts. Ever since index futures were introduced by the National Stock Exchange (NSE) in June 2000, there has been a lot of controversy regarding their usage. Derivatives are known to be a double edged sword, you can use it to kill enemies, kill yourself or for self-defense.
Introduction of derivative products, however, has not always been perceived in a positive light all over the world. It is, in fact, perceived as a market for speculators and concerns that it may have adverse impact on the volatility of the spot market...
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