Njengoko amaxabiso ajikeleza ngenxa yokubonelela kunye neemfuno zeemfuno, abaqapheli kunye nabatyalomali bavele kwindawo. Abathengi, abathengisi bemarike kunye nama-arbitrageurs baqala ukuququzelela ishishini phakathi kwabo bonke abathathi-nxaxheba bemarike.
Ukuhweba okwenyama, okanye ukurhweba ngemali, wanika ithuba lokuthunyelwa kwezohwebo. Amaphephandaba avumela abanye abathathi-nxaxheba bemarike ukuba bahlasele umngcipheko wentengo yokuvelisa okanye ukusetyenziswa. Baye bavumela abanye ukuba bacacise okanye batyalile kwixesha elizayo lexabiso. Ngaphambili i-derivative, ixabiso labo elithathwe kwixabiso lezinto ezisemzimbeni ezisisiseko okanye impahla. Kwintsebenziswano yokuhamba phambili, umthengi kunye nomthengisi uhamba kunye nomnye, elowo ucinga ingozi yokusebenza komnye. Nangona kunjalo, ukuthengiswa kwemali ekuthengisweni kwangaphambili kwagqitywa njengezivumelwano ezizodwa ngokubhekiselele kumanani athengiswayo, iimpawu zezixhobo ezahlukeneyo kunye nezinye izinto. Amaqela kwisivumelwano ngasinye kwisixokelelwano-matyala axoxisana nale migaqo.
Iimarike eziphambili zibonise amanani entengo kwiimarike zenyama.
Njengoko iminyaka ihamba ngeemarike zeemveliso zashintsha. Eyayilandela yayiyinkcazo yeemarike ezihlelekile kunye nezivumelwano zesikhathi esizayo . Le ngcamango yayikukumisela imigangatho ukwenzela ukuququzelela ukukhululeka kwezorhwebo. Iikhontrakthi zexesha elizayo zavela ekuqaleni kwimihlaba kuma-1730 eJapan.
I-Dojima Exchange Rice idibene neemfuno zama-Samurai abafumana irayisi kwiinkonzo zabo kwaye emva kweengcambu zokuvuna ezimbi zifuna ukuguqula irayisi ibe yimali. I-Chicago Board yezoRhweba (CBOT) ibhale isivumelwano sokuqala esilungelelanisiweyo kwiimarike zengqolowa ngo-1864. Iikontrakthi zexesha elizayo ziye zaba zixhobo ezithandwa kakhulu kwiimarike kuwo wonke umhlaba.
Ikhetho lokuqala lathengiswa emva konyaka we-332 BC xa iThales yaseMiletti ithengiwe amalungelo okuvunwa kweminqumo. Ngexesha le-tulip mania ngo-1636, ukhetho oluthengiswa ukuze luququzelele ukucinga ngokunyusa amaxabiso e-tulip. Ukususela ngo-1700-1733 ezi zixhobo, ukubeka nokubiza iinketho, zaqala ukuthengisa eLondon, kodwa zavalwa ngenxa yokugqithisa okungaphezulu kwe-1733-1860. Ngasekupheleni kwe-1800, iikhompyutheni ezingaphezulu kwee-counter zaqala ukurhweba e-US nakwii-1970 zokhetho kwixesha elizayo zaza zaziwa kakhulu kwixesha elizayo. Izinketho zilungile kodwa akunyanzelekile ukuba zithengise okanye zithengise (fowuni okanye zibeke ukhetho) kwixabiso elithethiweyo (intengo yesiteleka) ngexesha elichanekileyo (ixesha lokuphela). Izinketho zenye inqanaba lomkhiqizo ovela kumhlaba wezinto eziphathekayo; zonke iziphumo ezibonisa isenzo kwixabiso elingaphantsi kwexabiso eliyimfuneko.
Ukutshintshwa kokuqala ku-1981 xa i-IBM kunye neBhanki yehlabathi ingena kwisivumelwano sokutshintshisa amaxabiso omyinge. Utshintshiselwano kukutshintshisiswa kwexabiso elithethileyo lentengo ejikelezayo kwisixhobo esingaphantsi. Kwizinto eziphathekayo, ezininzi i-swaps zinxulumene namandla. I-Swaps kunye ne-swaptions (ezikhethiweyo kwi-swaps) zivela kwimimiselo emitsha kwaye yanda kwi-US ukusuka kwi- Dodd Frank Wall Street kunye noMthetho woKhuseleko kwabaThengi ngo-2010.
Iintengiso zeTrans Exchange ( ETFs ) kunye neeNkcazo zokuThengiswa koTshintsho zaqala ukuthengiswa e-US ngokuqala ngo-1989. Ezi zixhobo ezithengiswa ngokuthengisana ngokulinganayo zivumela abathathi-nxaxheba beemarike ukuba bathengise izithuthi ezibonisa intengo yezinto ezininzi, kuquka iimveliso. Ngoko ke, zombini ii-ETF kunye ne-ETN zivela kwixabiso lemveliso yenyama kwaye zivela kwiimveliso.
Xa kuziwa kwiziphumo ezivela kwizinto eziphathekayo, cinga ngokunyuka kwindalo eyahlukeneyo yezixhobo (phambili, ixesha elizayo, ukhetho, i-swaps kunye ne-ETF / ETN iimveliso) njengepiramidi yeemoto zorhwebo ezinxulumene nezinto eziphathekayo eziphambili ezichaphazela zonke ezi mveliso zenzelwe ukubonisa isenzo sentengo yomthombo, ngokomzimba.