Big corporations hedge away financial risks in the futures market on the Chicago Mercantile Exchange, among other trading venues.

FORBES: Hedging For Dummies

This may be less fun to watch, but it is a lot more interesting for the country's financial planners, who hope that a more efficient futures market will help to make Australia a regional financial hub.

ECONOMIST: From the earth to the sky

Nasdaq, the US technology market has partnered with the London International Financial Futures and Options Exchange (Liffe) to sell single-stock futures.

BBC: Liffe boosted by Nasdaq deal

Thus was born the International Money Market, the world's first financial futures exchange, which was then taken over by the Merc.

ECONOMIST: Well, up to a point

Hewison is a retired floor trader who has been a member of several major exchanges, including the International Monetary Market division of the Chicago Mercantile Exchange, Index and Options Market Chicago, New York Futures Exchange and London Financial Futures Exchange.

FORBES: Adam Hewison Aims For 'The Fat Part In The Middle' Of Market Moves

The complaints have gotten a sympathetic ear on Capitol Hill, where lawmakers have just gotten a proposal by the Treasury Department for a sweeping overhaul of financial market regulation, including the merger of the SEC with the Commodities Futures Trading Commission and the reassignment of many of the SEC's enforcement duties to the stock exchanges and other self-regulatory agencies.

FORBES: Get Shorty

To buy a futures contract you do not need to buy or sell actual food and so financial players entered the market to make money from these contracts.

FORBES: The World Development Movement Seems Very Confused Here

The development of futures market, which did not exist in 1973, allows consumers and firms to insure against the financial consequences of oil shocks through contracting.

FORBES: Should We Use The Strategic Petroleum Reserve?

Euribor futures rose in defiance almost daring the ECB to make such a bold move in the face of growing financial market uncertainty.

FORBES: Eurozone Spreads Blow-Out as Focus Shifts From Athens To Lisbon