The Role and Importance of the Options as a Unstandardized Financial Derivatives

Abstract- The financial derivatives are financial instruments, that are recently created, and whose main application is to be used as a tool for managing financial derivatives. The most significant financial derivatives are options, that are mostly used for their flexible and non-standard character. Options, and the other financial derivatives, as well, are instruments that are derived from some other financial instruments, that makes them more complicated from one hand, and more risky, from the other hand. Their role is very important for the developing the financial system, and generating economic growth. The subject of research in this paper is the options as a unstandardized financial derivatives, and their basic characteristics and usage in developed, and developing countries. The prime goal is to research the importance of these derivatives in developing countries, with basic focus in the Republic of Macedonia. The results from these paper should suggest if the options are crutial for the developing the Macedonian financial markets