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In stock, usually dispatched within 24 hours
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- Product code: 27057
- ISBN: 027370978x,
ISBN13: 9780273709787,
448 pages, paperback
Published by FT Prentice Hall on 2007
, 3rd Revised edition Rate this book...
Rating: 4.0/5 (4 votes cast)
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Description of Mastering Derivatives Markets |
Mastering Derivatives Markets is the most widely read book on the general derivatives market, and is read by everyone from bankers and brokers to journalists. The latest edition once again offers a comprehensive overview of everything a professional investor needs to know regarding the derivative process and its instruments. This include recent changes in derivative trading, and explanations into options, swaps and futures across the key asset classes of rates, currency, equity, commodity and credit. In support of this, it also covers newer and more complex tools such as credit derivatives, and answers the following questions: What happens after the deal is done? What is benchmarking? How does STP work in this market? What are electronic templates? How is technology evolving? How do the new accounting regulations work, IAS 39, FASB 133? How will MiFID affect what we do? This book is your passport to derivative success. Don't enter the market without it. The Mastering Series are your practical guides to gaining the knowledge you need to succeed in the financial world.
With the very latest practical examples, exercises and templates used throughout for ease of understanding, The Mastering Series covers every aspect of the topic from the basic essential skills you need to perform your job effectively to the more advanced skills to get you to the top. Written by practitioners for practitioners, these books give you just what you need - and nothing more - to succeed in finance. Several of the titles also come with companion CDs to allow you to put the book's ideas into action straightaway. The Mastering Series: Practical, comprehensive, essential.
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Reviews"An invaluable and straightforward guide, full of practical applications."
David Ford, Training & Development, International Petroleum Exchange
"Another valuable step on the road to improving competence and confidence in the world of financial derivatives."
Paul Dex, International Sales Manager, LIFFE
"A vital book for every new entrant into the market."
Christopher Bellew, Director, Prudential-Bache International Ltd
"Contains just about everything you might ever want to know concerning the derivatives markets… a well written book about a difficult subject."
The Trader's Magazine
"We run a number of courses on financial products and this book serves as excellent pre-course reading as well as an everyday reference handbook."
Maricar Obieta, Vice President, GCIB, Citibank, NA
"As professional market-makers we have found this an invaluable, easy-to-read book. We always have a copy to hand for quick reference."
Andrew Holdstock, Director of Foreign Exchange, IG Group Plc
| Contents of Mastering Derivatives Markets |
Author’s acknowledgements
Publisher’s acknowledgements
Foreword
Contributors
Introduction
1. Background and development of the derivatives markets
Introduction
Definition and key features
Uses of derivatives
Range of derivatives
Increasing use of the Central Counterparty Model (CCP)
Market volumes
Risk and benchmarking
Users and uses of derivatives
Straight Through Processing (STP)
2. Market fundamentals
Introduction
How banks generate income
Three key assumptions
Role and use of LIBOR
Day counts
Financial maths
Forward rates and benchmarks
Fair value
Marking to market
Yield curves
Quiz
3. Derivatives fundamentals
What is a Vanilla trade?
Settlement
Triggers
Liquidity and Credit Risk
Understanding the underlying
Benchmarks
Fair value
Dealing with derivatives
4. Basic option concepts
Introduction
Terminology
Option pricing
Option mechanics
5. Interest rate derivatives – single settlement instruments
Background and development
Single settlement interest rate derivatives
Financial futures contracts
Forward rate agreements (FRAs)
Interest rate options (IROs)
Quiz
6. Interest rate derivatives
Introduction
Interest rate caps and floors
Interest rate collars
Interest rate swaps
Fixed/floating
Basis swaps
Overnight Index Swaps
Swaptions
Callable Swaps
Examples and applications
Quiz
7. Benchmarking in the derivatives markets
Penny Davenport
Financial benchmarking for derivatives
Operational risk measurements for derivatives
Markit Annual Scorecard
Conclusion
8. Credit derivatives
Introduction
What is credit risk?
Default data
Style of trading
The first deals
Range of credit derivatives
Credit Default Swaps
Total return swaps
9. Beyond a vanilla CDS
Robert Reoch
Introduction
Credit Indices
Index protocol
CDOs
Where next?
10. Currency derivatives
Introduction
OTC currency options
Currency options: reduced premium strategies
Simple exotic structures
Currency swaps
Exchange traded futures
Quiz
11. Equity derivatives
Introduction
Background
Single stocks or indices?
Stock index futures
Stock index options
Single stock options
Equity index swaps
12. Using equity derivatives in investment products
Christopher C. Taylor
Equity investment
The development of the UK and European markets for equity based retail products
Constructing a Capital Protected Growth Product with equity derivatives
Income paying capital at risk products
Calculation of income level
The risk to capital
The most common structural variations used in the equity derivative market
13. Commodity derivatives
Introduction
Exchange-traded energy derivatives
Exchange-traded futures contracts
Exchange-traded energy option contracts
OTC or 'off-exchange' energy derivatives
OTC option products
OTC oil swaps
Overview of electricity market
14. Using derivatives in hedge funds
Stuart Fiertz
Introduction
Mitigating risk
Increasing exposures
Capturing tax efficiencies
Manoeuvring anonymously
Accessing restricted markets
Trading non-deliverable assets
Executing with gresp; Conclusion
15. Derivatives and Technology
Chris Horsburgh
Introduction and background
Hardware and software developments
Business drivers for change
Responses
Conclusion
16. Derivatives and documentation
Introduction
Background to the International Swaps and Derivatives Association, Inc (ISDA)
Products covered by the ISDA Agreement
ISDA heaven vs ISDA Hell
17. STP for OTC derivatives
Bill Hodgson
What is STP?
Automation drivers and priorities
Message formats
Central clearing for OTC products
Innovation in trade capture and confirmation
Fundamental issues in processing OTC products
The future of STP for OTC contracts
The 'backlog'
A central infrastructure for the OTC markets: Trade Information Warehouse
Conclusion
18. Risk and compliance for derivatives
Tony Blunden
Introduction
Governance
Risk management derivatives practice
Compliance practice
Conclusion
19. First principles of accounting for derivatives
Deborah Morton-Dare
Introduction
Fundamental accounting concepts
Reporting requirements
Fair value and mark-to-market accounting
Accruals accounting and amortized cost
Fair value vs hedge accounting
Accounting treatment
International standards
Conclusion
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About Francesca Taylor |
Francesca Taylor is the principle of Taylor Associates, one of the City's leading financial training companies, specialising in derivatives, capital markets, risk and treasury training.
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