1.   And as a former options trader at the American Stock Exchange, I know the derivatives business often appeals to high-wire risk-takers.

2.   Bankers Trust New York Corp. reorganized its embattled derivatives business, replacing its top manager and putting the business under a single executive.

3.   Bankers Trust New York Corp. reported a first-quarter profit as its derivatives business returned to profitability and it reversed a large loss in Latin America.

4.   Bankers Trust, which has a new chief executive and new management in its derivatives business, is eager put the case behind it.

5.   Bankers Trust already settled other lawsuits and disputes with clients over its derivatives business.

6.   Bankers Trust New York Corp. shuffled the management of its embattled derivatives business, replacing its top manager and putting the business under a single executive.

7.   Chase, for example, does the largest portion of its emerging markets derivatives business in Brazilian foreign exchange and interest rate options.

8.   Finally, it would have had set up its derivatives business with separate financing.

9.   For all the bad publicity, the derivatives business has not suffered as much as other parts of Wall Street.

10.   Investment managers have had a tough time of it since the derivatives business lost much of its luster in the spring of last year.