Derivados financieros : viabilidad para su implementación en el actual mercado bursátil del Ecuador.

Abstract

The Ecuadorian stock markets are beneath from other Latino-American countries’ levels of operation; thus, the transactions with financial derivatives are limited or practically no-existing. This situation guided people to propose the necessity to recognize the market feasibility to increase financial derivatives tools within the Ecuadorian stock markets. This research work is based on the use of standardized financial over-underlying derivatives such as currency exchange, taxes rates, security titles, stock indices, and business through the over-the-counter market. Through the application of a comparative analysis of the derivative financial markets of Latino-American countries, it was established the differences and similarities of how the the markets' characteristics, different types of used financial derivatives, and the highly underlying business were created. As a conclusion, it is presented that due to the Ecuadorian economical situation within the current stock market, it is not feasible, from the market perspective, the implementation of financial derivatives, because it does not exist a highly negotiated underlying, which required to operate the risk of price volatility. The case of receiving a home currency was proposed as an alternative to the use of financial derivatives in Ecuador. In this sense, it would be originated a currency exchange marker revitalization leading it to a probably currency exchange prices volatility such as the U.S. dollar or the Euro.