Bankers Trust's derivatives business, however, has been the source of recent problems.

If Twain were around now, he might try winding up a derivatives business.

Together, they account for more than 90 percent of the derivatives business in the United States not handled by banks.

Off-exchange deals between banks and other institutional investors are also a rapidly growing part of the derivatives business.

It has been working to release a set of new products under a strategy of bringing innovation to the 100+ year old derivatives business.

The bank said that its derivatives business returned to profitability, earning $1 million, after several quarters of losses.

For the year, the derivatives business lost $202 million, compared with $259 million for 1994.

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

It might also cut into the derivatives business of banks and Wall Street firms.

The bank said that these transactions represent all of the potential problems it may face from the leveraged derivatives business.