Although the financial futures and options markets have only existed since 1972, many current participants have little understanding of their genesis. This work offers an historical perspective that aims to provide important insights into the basic functioning of the markets. Petzel explains how these relatively new market investment products originated, how they are used and how the markets in which they are traded work. Beginning with an overview of the first 15 years of financial futures, Petzel examines both successes and failures, developi…