Add to ORKGThe thesis is focused on financial derivatives, their types, development and practical application. The first chapter deals with the definition of derivatives and description of basic types of derivatives and exotic options. The second chapter describes the development of derivatives in Czech Republic in comparison with G10 countries. In the continuous process of derivative products innovation credit, inflation derivatives and derivatives for electricity and weather are developed. The third chapter presents the derivatives in terms of practical application in the form of option structures, which are used for hedging against the currency risk. The structures are applied to the exchange rate development during the financial crisis period and ...