Derivatives are financial contracts that derive their value from an underlying asset. These underlying could be stocks, indices, commodities, currencies, exchange rates, or the rate of interest. Over the last few decades, the derivatives market has seen phenomenal growth. Many derivatives contracts were launched at exchanges across the world. The reason for the growth was mainly because of increased fluctuations in underlying asset prices, Integration of financial markets globally, Enhanced understanding of market participants, sophisticated risk management tools to manage the risk, and frequent innovations in derivatives markets.