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son's response be? 24. The following quotation is from the December 1988 issue of Euromoney: The proliferation of futures and options markets has created new opportunities for international investors. It is now possible to change investment exposure from one country to another through the use of derivative instruments, augmented by a limited number of individual securities. Asset allocation in most major markets is now feasible using futures and options. Discuss the reasons for using derivative rather than cash instruments to facilitate asset- allocation decisions. 25. The following excerpt appeared in an article in the December 7, 1992, issue of Derivative Work titled "Prudential Reduces FT-SE Futures Exposure in favour of