The Evolution and the Prospects of Contemporary Financial Instruments in Greece: The Case of SWAPS
Olympia Agorasti, George Blanas, Pavlos Golemis
This paper presents the results of a survey of derivatives and especially of swaps usage in the Greek market. Dividing the sample to Greek companies and Greek institutional investors, we find that institutional investors use derivatives much more than companies. In particular we find that 100% of institutional investors use derivatives when the corresponding percentage of companies is 34.75% and discover the most important reasons that companies do not use derivatives. Moreover, institutional investors use all the swap products that are referred to the questionnaire when companies use only interest rate and currency swaps.