ABSTRACT
Derivatives markets emblematically reflect the rise of finance in modern capitalism (Bryan and Rafferty, 2006; Wigan, 2009, a multifaceted process known as financialisation (Engelen, 2008). The notional value of global over-the-counter (OTC) derivatives was $553 trillion at the end of June 2015 (BIS, 2015). This huge sum raises questions concerning why individuals use derivatives and how these practices spread differentially across the world.
