"Derivatives have a history much older than most people believe. In Genesis Chapter 29, around the year 1700 B.C., Jacob purchased an option  costing seven years labor that granted him the right to marry Laban's daughter Rachel.  Laban reneged, however (perhaps the first default on an OTC contract) and forced Jacob to marry his older daughter Leah.  Jacob did so but really loved Rachel so he purchased another option, requiring seven more years of labor, and finally married Rachel (bigamy was allowed).  He ends up with two wives, twelve sons (patriarchs of the twelve tribes of Israel) and a lot of domestic friction, which is not  surprising.  Some argue that Jacob really had forward contracts, which obligated him to the marriages but that does not matter. Jacob did derivatives, one way or the other. "

Source: http://fac-staff.seattleu.edu/vinay/web/courses/FIN550/r1.txt