Investors, politicians, and regulators are still trying to unravel the causes of last fall’s collapse of the financial markets. The markets were stung, in part, by massive losses from the unregulated $57 trillion credit default swap (CDS) market. Before that market blew up, few knew it was so large.

Everyone agrees more transparency is needed — how much risk are Wall Street firms really taking and how does it affect individual investors? Equity and over-the-counter markets are murkier than investors assumed, but regulated futures markets are a slightly different story.