Modern Financial Derivatives
Standardized exchange-traded options and related derivative contracts supported by formal pricing, clearing, and market-risk practices.
Core metadata
- ID: financial_derivatives
- Era: Modern
- First known date: 1973 (exact)
- Region: Chicago, United States / global listed options markets
- Review status: source_checked
- Maturity: established
Prerequisites
- Computers (Mainframe/Early) (computers_early)
- Probability & Statistical Inference (probability_statistics_inference)
- Modern Stock Exchange (stock_exchange_modern)
Dependents
- None.
Fields
Field lanes
- Finance & Markets: Risk & Insurance
Node sources
- The Creation of Listed Options at Cboe (Cboe, 2024, review) • Supports: node, maturity
- SEC News Digest, February 2, 1973 (U.S. Securities and Exchange Commission, 1973, official_agency) • Supports: node, maturity
- The Pricing of Options and Corporate Liabilities (Journal of Political Economy, 1973, primary_paper) • Supports: node, maturity
Prerequisite edge evidence
Edge/source evidence summary:
- Prerequisite edges: 3
- Average edge confidence: 77%
- Prerequisite sources: 3
- primary_source: 3
| Prerequisite | Type | Confidence | Evidence level | Note | Sources |
|---|---|---|---|---|---|
| Modern Stock Exchange (stock_exchange_modern) | required | 86% | primary_source | Cboe opened the first listed options exchange in 1973, making an organized exchange a direct prerequisite for this scoped node. |
|
| Probability & Statistical Inference (probability_statistics_inference) | enabling | 84% | primary_source | Black and Scholes published their option-pricing model in 1973, making probabilistic valuation central to standardized listed options. |
|
| Computers (Mainframe/Early) (computers_early) | accelerates | 62% | primary_source | The Cboe account notes CRT screens at launch; computing accelerated price reporting and scaling but was not the abstract origin of derivatives. |
|
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