{"product_id":"risk-management-and-analysis-volume-2-new-markets-and-products-hardback-9780471979593","title":"Risk Management and Analysis, Volume 2; New Markets and Products (Hardback) 9780471979593","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eRisk Management and Analysis, Volume 2\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eNew Markets and Products\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eCarol Alexander (Edited by), C Alexander (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780471979593, Wiley\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 12 November 1998\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e368 pages\u003cbr\u003e25.5 x 18.2 x 2.6 cm, 0.794 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e\u003cp\u003e\"In what started as a second edition of the well received \u003ci\u003eHandbook of Risk Management and Analysis\u003c\/i\u003e, Carol Alexander has taken up the challenge of the increasing complexity of today's markets by selecting additional material to cover new aspects of risk modelling and new products, hence the present two volume edition. As before, the authors are well known not only for their mastery of the subject matter but also for their expository skills. Sound theories and tried methods are explained; new markets and products are clearly described. This is essential reading for the growing community of quantitatively-minded risk managers.\"\u003cbr\u003e—\u003cb\u003eDr Jacques Pézier, September 1998\u003c\/b\u003e\u003c\/p\u003e\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003e\u003cp\u003e\u003cb\u003eThe author\/editor has produced two stand-alone or companion volumes. Only one third of the original material remains.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003ci\u003eNew Markets and Products\u003c\/i\u003e begins with two chapters on emerging markets. The book then goes on to cover markets and products of increasing complexity: standard equity and interest rate derivatives, exotic options, swap (and swaptions), volatility trading and finally credit derivatives.\u003c\/p\u003e \u003cp\u003eThe contributors are all acknowledged experts in their fields: Michael Howell, Mark Fox, Ian King, Chris Rogers, Andrew Street, Riccardo Rebonato, Edmond Levy, Bryan Thomas, Vincent Lacoste, Desmond Fitzgerald and Blythe Masters.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eNew Markets and Products\u003c\/i\u003e will be an essential reference tool for risk managers, institutional investors, fund managers, bankers, corporate treasurers and financial consultants.\u003c\/p\u003e \u003cp\u003e\"In this volume Carol Alexander has gathered together ten articles that are concerned with important recent developments in financial markets. Two of the articles are concerned with emerging markets. They explore the reasons for their growth and the nature of the investment opportunities available. The remaining eight articles are concerned with derivatives. There are chapters on equity derivatives, interest rate derivatives, exotic options, volatility trading, and credit derivatives. The final chapter on credit derivatives is particularly timely. This market is in the process of transforming the way banks manage credit risk. I have seen no other discussion of the market as comprehensive and useful as that provided by Blythe Masters. Market participants and students alike will find much useful and thought-provoking information in this volume.\"\u003cbr\u003e—\u003cb\u003eJohn Hull, August 1998\u003c\/b\u003e\u003c\/p\u003e\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e\u003cp\u003eList of Contributors\u003c\/p\u003e \u003cp\u003eAbout the Contributors\u003c\/p\u003e \u003cp\u003ePreface\u003c\/p\u003e \u003cp\u003eForeword\u003c\/p\u003e \u003cp\u003eEmerging Markets I, Michael J. Howell\u003c\/p\u003e \u003cp\u003eIntroduction\u003c\/p\u003e \u003cp\u003eGrowing Countries not Poor Countries\u003c\/p\u003e \u003cp\u003eCross-Border Capital Flows\u003c\/p\u003e \u003cp\u003eMarkets in Emerging Financial Economies\u003c\/p\u003e \u003cp\u003eThe Future Size of Emerging Stock Markets\u003c\/p\u003e \u003cp\u003eThe Growing Need for Financial Development\u003c\/p\u003e \u003cp\u003eConclusion\u003c\/p\u003e \u003cp\u003eAppendix 1: Selected Data on Emerging Markets\u003c\/p\u003e \u003cp\u003eAppendix 2: Valuation Methods\u003c\/p\u003e \u003cp\u003eEndnotes\u003c\/p\u003e \u003cp\u003eReferences\u003c\/p\u003e \u003cp\u003eEmerging Markets II, Mark Fox and Ian King\u003c\/p\u003e \u003cp\u003eIntroduction\u003c\/p\u003e \u003cp\u003eThe Beginning of Emerging Markets\u003c\/p\u003e \u003cp\u003eDefining Emerging Markets\u003c\/p\u003e \u003cp\u003eThe size of Emerging Markets\u003c\/p\u003e \u003cp\u003eDo Emerging Markets Constitute a Separate Asset Class?\u003c\/p\u003e \u003cp\u003eNon-Performing Loans\u003c\/p\u003e \u003cp\u003eHistory\u003c\/p\u003e \u003cp\u003eThe Present Market\u003c\/p\u003e \u003cp\u003eBrady Bonds\u003c\/p\u003e \u003cp\u003eHistory\u003c\/p\u003e \u003cp\u003eStructures of Brady Plans\u003c\/p\u003e \u003cp\u003eThe Brady Market\u003c\/p\u003e \u003cp\u003eAnalysing Brady Bonds\u003c\/p\u003e \u003cp\u003eEvaluating Default Risk\u003c\/p\u003e \u003cp\u003eIncome Guarantees\u003c\/p\u003e \u003cp\u003eTrading Strategies Exclusive to Brady Bonds\u003c\/p\u003e \u003cp\u003eEurobonds\u003c\/p\u003e \u003cp\u003eHistory\u003c\/p\u003e \u003cp\u003eA Changing Role\u003c\/p\u003e \u003cp\u003eThe Role of Credit Curves\u003c\/p\u003e \u003cp\u003eUsing Credit Curves\u003c\/p\u003e \u003cp\u003eAnalysing Credit Curves\u003c\/p\u003e \u003cp\u003eTrading Credit Curve Shapes\u003c\/p\u003e \u003cp\u003eLocal Markets and Emerging Market Currencies\u003c\/p\u003e \u003cp\u003eThe Role of Local Markets in the Investing Cycle\u003c\/p\u003e \u003cp\u003eThe Character of Local Emerging Debt Markets\u003c\/p\u003e \u003cp\u003eRussia - A Case Study\u003c\/p\u003e \u003cp\u003eStrategic Uses for Investing in Local Markets\u003c\/p\u003e \u003cp\u003eTrading and Managing Local Currency Exposure\u003c\/p\u003e \u003cp\u003eTrading and Managing Local Interest Rate Exposure\u003c\/p\u003e \u003cp\u003eEquities\u003c\/p\u003e \u003cp\u003eHistory\u003c\/p\u003e \u003cp\u003eAnalysing Emerging Equity Stocks\u003c\/p\u003e \u003cp\u003eTrading and Managing Emerging Equity\u003c\/p\u003e \u003cp\u003eMarket Exposure\u003c\/p\u003e \u003cp\u003eStrategic Uses for Investing in Emerging Equity Markets\u003c\/p\u003e \u003cp\u003eBenchmarks\u003c\/p\u003e \u003cp\u003eDerivatives\u003c\/p\u003e \u003cp\u003eOptions\u003c\/p\u003e \u003cp\u003eRepurchase Agreements\u003c\/p\u003e \u003cp\u003eStructured Notes\u003c\/p\u003e \u003cp\u003eCredit Derivatives\u003c\/p\u003e \u003cp\u003eRelative Value Trades\u003c\/p\u003e \u003cp\u003eEquities\u003c\/p\u003e \u003cp\u003eSpecial Considerations in Evaluating Relative Value\u003c\/p\u003e \u003cp\u003eA Matrix Approach to Regional and Asset Allocation\u003c\/p\u003e \u003cp\u003ePast Experience\u003c\/p\u003e \u003cp\u003eEndnotes\u003c\/p\u003e \u003cp\u003eThe Origins of Risk-Neutral Pricing and the Black-Scholes Formula, L.C.G. Rogers\u003c\/p\u003e \u003cp\u003eIntroduction\u003c\/p\u003e \u003cp\u003ePortfolio Choices\u003c\/p\u003e \u003cp\u003eSome Notions and Notations from Probability\u003c\/p\u003e \u003cp\u003eOptimal Investment\u003c\/p\u003e \u003cp\u003eThe Binomial Market and the Black-Scholes Formula\u003c\/p\u003e \u003cp\u003eAppendix: Two Other Approaches\u003c\/p\u003e \u003cp\u003eEndnotes\u003c\/p\u003e \u003cp\u003eReferences\u003c\/p\u003e \u003cp\u003eEquity Derivatives Andrew Street\u003c\/p\u003e \u003cp\u003eIntroduction\u003c\/p\u003e \u003cp\u003eAims and Scope of this Chapter\u003c\/p\u003e \u003cp\u003eClassification of Equity Derivatives\u003c\/p\u003e \u003cp\u003eGeneral Features of Pricing Equity Derivatives\u003c\/p\u003e \u003cp\u003eHistorical Development\u003c\/p\u003e \u003cp\u003eListed Equity Derivatives\u003c\/p\u003e \u003cp\u003eUnlisted or \"Over-the-Counter\" Equity Derivatives\u003c\/p\u003e \u003cp\u003eThe Utility of Equity Derivatives\u003c\/p\u003e \u003cp\u003eThe Evaluation of Risk and Return\u003c\/p\u003e \u003cp\u003eTax Efficiency\u003c\/p\u003e \u003cp\u003eRegulatory Efficiency\u003c\/p\u003e \u003cp\u003eLeverage\u003c\/p\u003e \u003cp\u003eImplementation of Specific Investment Views\u003c\/p\u003e \u003cp\u003eEfficiency and Cost Effectiveness\u003c\/p\u003e \u003cp\u003eThe Utility of Equity Derivatives for Borrowers\u003c\/p\u003e \u003cp\u003eThe Role of the Investment Bank in the Creation of Equity Derivatives\u003c\/p\u003e \u003cp\u003eCapital\u003c\/p\u003e \u003cp\u003eCredit\u003c\/p\u003e \u003cp\u003eRisk Aggregation\u003c\/p\u003e \u003cp\u003eTechnology\u003c\/p\u003e \u003cp\u003eIndex Products\u003c\/p\u003e \u003cp\u003eExchange Traded Equity Derivatives\u003c\/p\u003e \u003cp\u003eOver-the-Counter Traded Equity Derivatives\u003c\/p\u003e \u003cp\u003eHybrid Equity Derivatives\u003c\/p\u003e \u003cp\u003eSingle Stocks, Bespoke Index Products\u003c\/p\u003e \u003cp\u003eFuture Development for Equity Derivatives\u003c\/p\u003e \u003cp\u003eGlossary of Terms\u003c\/p\u003e \u003cp\u003eReferences\u003c\/p\u003e \u003cp\u003eInterest Rate Option Models: A Critical Survey, Riccardo Rebonato\u003c\/p\u003e \u003cp\u003eIntroduction and Outline of the Chapter\u003c\/p\u003e \u003cp\u003eYield Curve Models: A Statistical Motivation\u003c\/p\u003e \u003cp\u003eStatistical Analysis of the Evolution of Rates\u003c\/p\u003e \u003cp\u003eA Framework for Option Pricing\u003c\/p\u003e \u003cp\u003eThe No-Arbitrage Conditions\u003c\/p\u003e \u003cp\u003eDefinition of No-arbitrage in a Complete Market\u003c\/p\u003e \u003cp\u003eThe Condition of No-arbitrage: Vasicek's Approach\u003c\/p\u003e \u003cp\u003eThe condition of No-arbitrage: The Martingale Approach\u003c\/p\u003e \u003cp\u003eFirst Choice of Numeraire: The Money Market Account\u003c\/p\u003e \u003cp\u003eSecond Choice of Numeraire: A Discount Bond\u003c\/p\u003e \u003cp\u003eThe General Link Between Different Measures\u003c\/p\u003e \u003cp\u003eThe Implementation Tools\u003c\/p\u003e \u003cp\u003eLattice Approaches: Justification and Implementation\u003c\/p\u003e \u003cp\u003eMonte Carlo (MC) Approaches\u003c\/p\u003e \u003cp\u003ePDE Approaches: Finite Differences Schemes and Analytic Solutions\u003c\/p\u003e \u003cp\u003eAnalysis of Specific Models\u003c\/p\u003e \u003cp\u003eBDT: Models Implications and Empirical Findings\u003c\/p\u003e \u003cp\u003eExtended Vasicek (HW): Model Implications and Empirical Findings\u003c\/p\u003e \u003cp\u003eLongstaff and Schwartz: Model Implications and Empirical Findings\u003c\/p\u003e \u003cp\u003eThe HJM Approach\u003c\/p\u003e \u003cp\u003eConclusions or \"How to Choose the Best Model\"\u003c\/p\u003e \u003cp\u003eReferences\u003c\/p\u003e \u003cp\u003eExotic Options I, Edmond Levy\u003c\/p\u003e \u003cp\u003eIntroduction\u003c\/p\u003e \u003cp\u003eAsian Options\u003c\/p\u003e \u003cp\u003eDefinition and Uses\u003c\/p\u003e \u003cp\u003eValuation Approaches\u003c\/p\u003e \u003cp\u003eRisk Management of Asian Options\u003c\/p\u003e \u003cp\u003eBinary and Contingent Premium Options\u003c\/p\u003e \u003cp\u003eExamples and Uses\u003c\/p\u003e \u003cp\u003eValuation and Hedging\u003c\/p\u003e \u003cp\u003eCurrency Protected Options\u003c\/p\u003e \u003cp\u003eCross-Market Contracts\u003c\/p\u003e \u003cp\u003eValuation of Cross-Market Contracts\u003c\/p\u003e \u003cp\u003eCurrency Basket Options\u003c\/p\u003e \u003cp\u003eAppendix 1\u003c\/p\u003e \u003cp\u003eAppendix 2\u003c\/p\u003e \u003cp\u003eAppendix 3\u003c\/p\u003e \u003cp\u003eReferences\u003c\/p\u003e \u003cp\u003eExotic Options II, Bryan Thomas\u003c\/p\u003e \u003cp\u003eBarrier Options\u003c\/p\u003e \u003cp\u003eDefinitions and Examples of single barrier options\u003c\/p\u003e \u003cp\u003eAn Analytical Model of Single Barrier options\u003c\/p\u003e \u003cp\u003eAlternative Modelling Methods\u003c\/p\u003e \u003cp\u003eRisk Management of Single Barrier options\u003c\/p\u003e \u003cp\u003eBarrier Options Combinations\u003c\/p\u003e \u003cp\u003eRebates\u003c\/p\u003e \u003cp\u003eDiscontinuous Barriers\u003c\/p\u003e \u003cp\u003eDouble Barrier Options\u003c\/p\u003e \u003cp\u003eSecond Market Barriers\u003c\/p\u003e \u003cp\u003eCompound Options\u003c\/p\u003e \u003cp\u003eDefinitions and Example\u003c\/p\u003e \u003cp\u003eGeske's Model\u003c\/p\u003e \u003cp\u003eRisk Management\u003c\/p\u003e \u003cp\u003eExtensions\u003c\/p\u003e \u003cp\u003eEven More Exotic Options\u003c\/p\u003e \u003cp\u003eReferences\u003c\/p\u003e \u003cp\u003eCaptions and Swaptions Vincent Lacoste\u003c\/p\u003e \u003cp\u003eChange of Numeraire: A General Valuation Method for Swaptions\u003c\/p\u003e \u003cp\u003eIntroductory Comments\u003c\/p\u003e \u003cp\u003eTechnical Properties\u003c\/p\u003e \u003cp\u003eApplication to Swaptions\u003c\/p\u003e \u003cp\u003eHedging a Swaption\u003c\/p\u003e \u003cp\u003eHedging Swptions Against Yield Curve Scenarios\u003c\/p\u003e \u003cp\u003eThe Hedging Space\u003c\/p\u003e \u003cp\u003eEstimated Methods\u003c\/p\u003e \u003cp\u003eEmpirical Results\u003c\/p\u003e \u003cp\u003eConcluding remarks on Historical Data\u003c\/p\u003e \u003cp\u003eMarking to Market the Term structure of Volatility\u003c\/p\u003e \u003cp\u003eCaptions\u003c\/p\u003e \u003cp\u003eNon-Parametric estimation of the Volatility Structure\u003c\/p\u003e \u003cp\u003eConcluding remarks\u003c\/p\u003e \u003cp\u003eIs There a \"Market Model of Interest Rates\"?\u003c\/p\u003e \u003cp\u003eAppendix\u003c\/p\u003e \u003cp\u003eEndnotes\u003c\/p\u003e \u003cp\u003eReferences\u003c\/p\u003e \u003cp\u003eTrading Volatility, M. Desmond Fitzgerald\u003c\/p\u003e \u003cp\u003eIntroduction\u003c\/p\u003e \u003cp\u003eBasics of Volatility Trading\u003c\/p\u003e \u003cp\u003eAnalysing Volatility Patterns for Trading\u003c\/p\u003e \u003cp\u003eRelative Volatility Trading\u003c\/p\u003e \u003cp\u003eSummary\u003c\/p\u003e \u003cp\u003eCredit Derivatives, Blythe Masters\u003c\/p\u003e \u003cp\u003eBackground and Overview: The Case for Credit Derivatives\u003c\/p\u003e \u003cp\u003eWhat are Credit Derivatives?\u003c\/p\u003e \u003cp\u003eWhat is the Significance of Credit Derivatives?\u003c\/p\u003e \u003cp\u003eBasic Credit Derivative Structures and Applications\u003c\/p\u003e \u003cp\u003eCredit (Default) Swaps\u003c\/p\u003e \u003cp\u003eTotal (Rate of) Swaps\u003c\/p\u003e \u003cp\u003eCredit Options\u003c\/p\u003e \u003cp\u003eDowngrade Options\u003c\/p\u003e \u003cp\u003eDynamic Credit Swaps\u003c\/p\u003e \u003cp\u003eOther Credit Derivatives\u003c\/p\u003e \u003cp\u003eA Portfolio Approach to Credit Risk Management\u003c\/p\u003e \u003cp\u003eWhy Credit Has Become a Risk-Management Challenge\u003c\/p\u003e \u003cp\u003eThe Need for a Portfolio Approach to Credit Risk\u003c\/p\u003e \u003cp\u003eThe Challenges of Estimating Portfolio Credit Risk\u003c\/p\u003e \u003cp\u003eAssessing Credit Risk on a Portfolio Basis: Methodology\u003c\/p\u003e \u003cp\u003ePractical Applications of Portfolio Methodology Using Credit Derivatives\u003c\/p\u003e \u003cp\u003eRegulatory Treatment of Credit Derivatives\u003c\/p\u003e \u003cp\u003eBalance Sheet Management: Synthetic Securitization\u003c\/p\u003e \u003cp\u003eInvestment Considerations\u003c\/p\u003e \u003cp\u003eFilling Gaps in the Credit Spectrum\u003c\/p\u003e \u003cp\u003eTranscending Asset Class Barriers\u003c\/p\u003e \u003cp\u003eRecovery Rate\u003c\/p\u003e \u003cp\u003eTerm\u003c\/p\u003e \u003cp\u003eCommon Pricing Considerations\u003c\/p\u003e \u003cp\u003ePredictive or Theoretical Pricing Models of Credit Swaps\u003c\/p\u003e \u003cp\u003eMark to Market and Valuation Methodologies for Credit Swaps\u003c\/p\u003e \u003cp\u003eRisk Equivalence of Total Return Swaps and Credit Swaps for Valuation Purposes\u003c\/p\u003e \u003cp\u003eRelative Value Analysis of Credit Swaps\u003c\/p\u003e \u003cp\u003eCounterparty Considerations\u003c\/p\u003e \u003cp\u003eConclusion\u003c\/p\u003e \u003cp\u003eCredit Derivatives and Portfolio Management\u003c\/p\u003e \u003cp\u003eOther Implications\u003c\/p\u003e \u003cp\u003eGlossary Endnotes\/References\u003c\/p\u003e \u003cp\u003eIndex\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Finance \u0026amp; accounting [\u003ca title=\"See our other books on Finance \u0026amp; accounting\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Finance%20\u0026amp;%20accounting%20%5BKF%5D%22\"\u003eKF\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Wiley","offers":[{"title":"Brand New","offer_id":52316737274136,"sku":"9780471979593","price":90.19,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/files\/9780471979593.jpg?v=1781823042","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/risk-management-and-analysis-volume-2-new-markets-and-products-hardback-9780471979593","provider":"Freshly Printed Books","version":"1.0","type":"link"}