Cómo evitar otra crisis de derivados: Manejo de riesgos para mercados emergentes (How To Avoid Another Derivative Crisis: Risk Management for Emerging Markets)

8 Pages Posted: 13 May 2021

See all articles by Mazin A. M. Al Janabi

Mazin A. M. Al Janabi

EGADE Business School, Tecnologico de Monterrey; EGADE Business School, Tecnologico de Monterrey; Economic Research Forum (ERF)

Date Written: May 11, 2021

Abstract

Spanish Abstract: Las pérdidas reportadas por empresas e instituciones financieras generaron mucha alarma y preocupación en la sociedad, así como debate y confusión sobre el uso apropiado de los instrumentos derivados. ¿Fueron los derivados responsables de estas pérdidas o simplemente su mal manejo? Lo cierto es que los valores derivados pueden controlar y cubrir eficazmente los riesgos financieros, pero su uso incontrolado puede ser muy peligroso. En el capítulo “Derivative Products in Emerging Markets and Prudential Regulations”, incluido en la monografía Emerging Markets: Recent Developments, Challenges and Future Prospects (Nova, 2018), examino los cambios observados en años recientes en las transacciones de derivados en mercados emergentes como México. Desde mi experiencia como gestor e investigador en gestión de riesgos y productos derivados, analizo los principales obstáculos para el uso adecuado de estos instrumentos, así como recomendaciones prácticas con el fin de utilizar plataformas operativas eficientes, regulaciones rigurosas y vigilancia efectiva para desalentar la morosidad y las operaciones ilegales dentro de la industria de servicios financieros.

English Abstract: The losses reported by companies and financial institutions caused enormous alarm and concern in society, as well as debate and confusion on the appropriate use of derivatives instruments. Were derivatives responsible for these losses or was it simply their poor management? The fact is that while derivatives securities can effectively control and hedge financial risks, their uncontrolled use can be very dangerous. The chapter “Derivative Products in Emerging Markets and Prudential Regulations”, included in the monography Emerging Markets: Recent Developments, Challenges and Future Prospects (Nova Science Publishers, Inc., New York, 2018), examined the recent changes observed in derivatives trading in emerging markets, such as Mexico. In my experience as a practitioner and researcher of risk management and derivative products, I analyze the main obstacles to the adequate use of these instruments and offer practical recommendations for the use of efficient operational platforms, rigorous regulations and effective surveillance to discourage delinquencies and rogue trading within the financial service industry.

Note: Downloadable document available in Spanish.

Keywords: Emerging Markets, Derivative Products, Risk Management

JEL Classification: C10, C13, G20, and G28

Suggested Citation

Al Janabi, Mazin A. M., Cómo evitar otra crisis de derivados: Manejo de riesgos para mercados emergentes (How To Avoid Another Derivative Crisis: Risk Management for Emerging Markets) (May 11, 2021). Available at SSRN: https://ssrn.com/abstract=3841263 or http://dx.doi.org/10.2139/ssrn.3841263

Mazin A. M. Al Janabi (Contact Author)

EGADE Business School, Tecnologico de Monterrey ( email )

Av. Carlos Lazo 100 Col. Santa Fe, Del. Alvaro Obr
Mexico City, 01389
Mexico

EGADE Business School, Tecnologico de Monterrey ( email )

Av. Eugenio Garza Sada #2501
Col. Tecnológico
Monterrey, Nuevo León 64849
Mexico

Economic Research Forum (ERF) ( email )

21 Al-Sad Al-Aaly St.
(P.O. Box: 12311)
Dokki, Cairo
Egypt

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