Mastering Derivatives Markets 3e
FT Press (Verlag)
978-0-273-70978-7 (ISBN)
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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.
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.
Author's acknowledgements Publisher's acknowledgements Foreword Contributors 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) * Risk and benchmarking * Market volumes * 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 * Calculating forward rates * Marking to market * Yield curves Quiz 3. Derivatives fundamentals * Range of derivatives * 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 * 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) * Premium determinants Quiz 6. Interest rate derivatives * Introduction * Interest rate caps and floors * Interest rate collars * Interest rate swaps Quiz 7. Benchmarking in the OTC 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? * Style of trading * Default data * The first deals * Range of credit derivatives * Credit default swaps * Total return swaps 9. Beyond a vanilla CDS Robert Reoch * Introduction * Credit indices * CDOs * Where next? 10. Currency derivatives * Introduction * Over the counter currency options * Currency options: reduced premium strategies * Simple exotic structures * Currency swaps * Exchange-traded instruments * Conclusion Quiz 11. Equity derivatives * Introduction * Background * Single stocks or equity 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 C. Fiertz * Introduction * Mitigating risk * Increasing exposures * Capturing tax efficiencies * Manoeuvring anonymously * Accessing restricted markets * Trading non-deliverable assets * Shifting operational burdens * Executing with greater precision * 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 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 an approach to accounting for a new derivatives transaction Glossary Index
| Erscheint lt. Verlag | 14.12.2006 |
|---|---|
| Reihe/Serie | Financial Times Series |
| Sprache | englisch |
| Maße | 169 x 244 mm |
| Gewicht | 770 g |
| Themenwelt | Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung |
| ISBN-10 | 0-273-70978-X / 027370978X |
| ISBN-13 | 978-0-273-70978-7 / 9780273709787 |
| Zustand | Neuware |
| Informationen gemäß Produktsicherheitsverordnung (GPSR) | |
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