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Derivatives Demystified: A Step-by-Step Guide to Forwards, Futures, Swaps and Options

Derivatives Demystified: A Step-by-Step Guide to Forwards, Futures, Swaps and Options

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Derivatives are everywhere in the modern world. They are constantly discussed (and sometimes vilified). It is now more important than ever for participants in the banking, investment and finance sectors to fully understand the building blocks, uses and limitations of these important financial products.
Fully revised and updated to take into account the many changes the industry has seen over the last few years, "Derivatives Demystified" is a step-by-step guide to financial derivatives, enabling the reader to build a solid, working knowledge of key derivative products. It is based on the author's many years of experience teaching the subject to market practitioners, ranging from the most senior managers in the global banking industry to recent MBA and graduate hires. Adopting a highly accessible and structured approach, the author explains derivative products in straightforward terms and without the complex mathematics that underlie the subject. The focus is on practical applications, case studies and examples of how products are used to solve real-world problems. It follows a sequence that is designed to show that, although there are many applications of derivatives, there are only a small number of basic building blocks. The book examines how each building block is applied to different markets and to the solution of various risk management, investment and trading problems.
It features a wealth of updated and new material covering the latest developments in the derivatives markets, including the role of derivative products in the global financial crisis, settlement and risk-management, market regulation, commodity derivatives, credit derivatives, later-generation or 'exotic' options, structured products including collateralized debt obligations (CDOs), and inflation-linked and weather derivatives.
"Derivatives Demystified" is essential reading for anyone who operates in the financial markets or within the corporate environment requiring a solid understanding of these critical financial instruments.
2 edition.