The introduction of new derivative instruments like futures, options, forwards and swaps has changed the market dynamics in the securities market in last few decades . Investment is no longer a simple strategy. With the introduction of these newer and complex derivative instruments it has become very essential to understand the complexities of these instruments before opting for any investment decision.This book aims to define and elaborate different types of derivative products and instruments. Different models have been explained and wherever required sufficient illustrations have been provided. It is expected that the book will be useful not only for students but also for investors and market intermediaries.