Derivatives - The Key Principles
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Derivatives - The Key Principles: A Practical Guide to Markets, Products, Contracts and Regulation

Derivatives - The Key Principles: A Practical Guide to Markets, Products, Contracts and Regulation

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About the Book

"Derivatives: The Key Principles" is a practical guide to derivatives, starting with a comprehensive description of different derivative products, the uses to which these products are put, and where and how they are traded. The book provides an authoritative analysis of how derivatives markets are regulated, mainly from the perspective of UK and EU legislation, and also considers the accounting and tax treatment of derivative products. This work is very much written from the perspective of market participants and emphasizes the practical operation of the derivatives markets, including an analysis of the cash flows of the different products and the use of ISDA documentation. As the derivatives markets cannot be considered in isolation, a brief introduction to the bond market is included. The yield of the bond market is used as the benchmark for the performance of much of the financial markets and is used to perform many of the calculations associated with derivatives. The topics that this book covers are extremely broad (and have often been the subject of a substantial body of academic discussion). Therefore this book concentrates on the principal issues and serves to indicate the direction in which further reading might be undertaken.

Table of Contents:
An overview - what? why? how? who? where? when?; the three market structures - the participants in the markets, the on-exchange market, the OTC market, market service providers, derivatives exchanges in the United Kingdom; key concepts - "long" and "short", the bid and offer spread, tick, margin, example of tick and margin; products - forward contract, futures contract, option contract, warrant, forward rate agreement, swap, cap, floor and collar contracts, credit derivative, embedded option, repurchase and reverse repurchase agreement, financial engineering; legal and regulatory - legislation and regulation, the general prohibition, regulated activities, legal market structures, EU legislation, investment exchanges, the doctrine of ultra vires, the duty of care, construction of the terms of a derivative contract; the end-users of the derivatives markets - the investment management industry, hedge funds, corporate treasuries, local government authorities, prime brokerage accounts; documentation; capital; accounting and tax; defining the risk map. Appendices: An introduction to bonds; key EU legislation; long-term capital management.


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Product Details
  • ISBN-13: 9781904501022
  • Publisher: Oxford University Press
  • Publisher Imprint: Richmond Law & Tax Ltd
  • Height: 254 mm
  • Width: 178 mm
  • ISBN-10: 1904501028
  • Publisher Date: 15 Jun 2003
  • Binding: Hardback
  • Sub Title: A Practical Guide to Markets, Products, Contracts and Regulation


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