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Author:MacKenzie, D.
Title:The material production of virtuality: innovation, cultural geography and facticity in derivatives markets
Journal:Economy and Society
2007 : AUG, VOL. 36:3 p. 355-376
Index terms:finance
financial innovation
technological innovation
derivative securities
markets
virtual reality
Freeterms:financial derivatives
social studies of finance
Language:eng
Abstract:This paper provides an in-depth discussion on the seldom examined subject: the virtual nature of financial derivatives and how these products are brought into being. The author examines the similarities and differences between technological innovation and innovation in derivatives through the analysis of the development of organized financial-derivatives trading in the US and UK since 1970. Also the role of the internal cultures of financial markets and of the wider culture are discussed.
SCIMA record nr: 267601
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