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Err. I guess I work in “derivatives”. The universe of “derivatives” is huge and diverse. There are all sorts of derivatives - interest rate swaps, credit default swaps, futures, options, structured products, convertible bonds, and more. Most people work with a narrow set of products and don’t deal with other asset types. The markets are deep enough such that many people work in a particular market for years or decades.
Of course, there is risk that the market might shrink and you lose your job. It’s like that for all finance jobs though.

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