An explanation of a derivative instrument (forward, future, swap, option, etc) generally encompasses that the instrument is derived from, ie; is based on, certain, or aspects of certain, financial market instruments, and takes its value largely from these or other instruments or markets....

The money market has traditionally been defined as the market for marketable short-term securities. It has deep historical roots. Today, it is not an illuminating definition. The genesis of interest rates, which is the quintessence of monetary policy implementation, does not originate in market...