In message , Huge
writes

Can someone kindly give me an explanation of derivatives? Preferably in
plain English:-)

"A derivative is a financial instrument that is derived from some
other asset, index, event, value or condition (known as the underlying
asset). Rather than trade or exchange the underlying asset itself,
derivative traders enter into an agreement to exchange cash or assets
over time based on the underlying asset. A simple example is a futures
contract: an agreement to exchange the underlying asset at a future date."

OK. so back to TimW's point. Can they kindly bet/trade with their own
money and not use savings I have entrusted to the banks. Also, will said
banks kindly not lend out my funds unless the loan is backed by adequate
collateral.

regards

--
Tim Lamb