CFA Level I, derivatives这本书的 P192, transactions costs

walkman_ke

The benefits of derivatives markets are that they:

reduce transactions costs


请问这里的 transactions costs 是指交易成本吗？
难道是指衍生品的“杠杆”可以以小博大，从而降低交易成本？

WGLJZJTQGJKMJ

Transactions costs using derivatives is low relative to directly buying underlying assets like commondities, bonds and stocks. However, derivatives themselves can be very costly in terms of high leverage and the huge value of underlying assets they represent.