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Financial Derivatives: Markets And Applications (Fifth Edition) [Pehme köide]

Contributions by (Chulalongkorn Univ, Thailand), (International Centre For Education In Islamic Finance (Inceif) University, Malaysia)
  • Formaat: Paperback / softback, 560 pages
  • Ilmumisaeg: 08-Mar-2023
  • Kirjastus: World Scientific Publishing Co Pte Ltd
  • ISBN-10: 9811262160
  • ISBN-13: 9789811262166
Teised raamatud teemal:
Financial Derivatives: Markets And Applications (Fifth Edition)Suurem pilt
  • Formaat: Paperback / softback, 560 pages
  • Ilmumisaeg: 08-Mar-2023
  • Kirjastus: World Scientific Publishing Co Pte Ltd
  • ISBN-10: 9811262160
  • ISBN-13: 9789811262166
Teised raamatud teemal:
Püsilink: https://www.kriso.ee/db/9789811262166.html
Märksõnad:

This Book Is Designed For Beginners Who Possess No Previous Knowledge Or Familiarity With Derivatives. Written In An Easy To Read Style, It Guides Readers Through The Challenging And Complex World Of Forwards, Futures, Options, And Swaps. The Emphasis On Asian Markets And Contracts Enables Easier Understanding. Financial Derivative Contracts From Malaysia And Select Contracts From Thailand, Singapore, And Hong Kong Derivative Markets Are Covered. For Each Derivative Contract, Their Three Common Applications Hedging, Arbitrage, And Speculating Are Shown With Fully Worked Out Examples. Extensive Use Of Illustrations, Graphics, And Vignettes Provide For Easy Comprehension Of The Underlying Logic Of Derivatives.

Preface v
About the Book vii
New to This Edition ix
About the Author xi
Acknowledgments xiii
Chapter 1 Derivatives: Introduction and Overview
1(18)
Introduction
1(1)
1.1 What are Derivative Instruments?
2(1)
1.2 Common Derivative Instruments
3(1)
1.3 Evolution of Derivative Instruments
3(4)
1.4 OTC versus Exchange-Traded Derivatives
7(1)
1.5 The Main Players in Derivative Markets
8(2)
1.6 Commodity versus Financial Derivatives
10(1)
1.7 Types of Risks
11(4)
1.8 Overview of Global Trading in Derivatives
15(2)
Summary
17(2)
Chapter 2 Derivative Markets and Trading
19(24)
Introduction
19(1)
2.1 Trading Methods
19(4)
2.2 The Role of a Derivatives Clearinghouse
23(1)
2.3 Derivatives Trading in Malaysia
24(5)
2.4 Hong Kong Exchanges and Clearing
29(4)
2.5 Derivatives in Singapore
33(2)
2.6 Derivatives in Thailand
35(4)
2.7 Relative Trading Performance of the Four Derivatives Exchanges
39(2)
Summary
41(2)
Chapter 3 Forward and Futures Markets: Pricing and Analysis
43(38)
Introduction
43(1)
3.1 Forward Contracts
44(2)
3.2 Futures Contracts
46(3)
3.3 Mechanics of Futures Trading
49(1)
3.4 Margining and Marking-to-Market
50(3)
3.5 Forwards, Futures: Zero-Sum Game
53(1)
3.6 Futures Markets -- The Main Players
54(4)
3.7 Determination of Futures Prices
58(1)
3.8 Issues in Futures Trading
59(7)
3.9 Types of Orders
66(4)
Summary
70(4)
Appendix
74(7)
Chapter 4 Stock Index Futures Contracts: Analysis and Applications
81(58)
Introduction
81(3)
4.1 Why Use SIF Contracts?
84(2)
4.2 Index Construction and Types of Indexes
86(2)
4.3 FBM KLCI Futures, Contract Specifications
88(3)
4.4 SIF Trading -- The Main Players
91(1)
4.5 The Pricing of SIF Contracts
91(3)
4.6 Applications of SIF Contracts
94(11)
4.7 SIF in Thailand
105(9)
4.8 SIF Contracts and Portfolio Management
114(3)
4.9 Issues in SIF Pricing
117(2)
4.10 Issues in SIF Trading
119
4.11 Growth and Trading Performance of the FBM KLCI and the SET
50(73)
Index Futures Contracts
121(2)
4.12 Single Stock Futures
123(16)
Summary
132(7)
Chapter 5 Interest Rate Futures Contracts and Currency Futures Contracts
139(62)
Introduction
139(1)
5.1 Interest Rate Futures Contracts
139(1)
5.2 What Is Interest Rate Risk?
140(1)
5.3 Bond Pricing, Yields, and Interest Rate Risk
141(4)
5.4 The 3-Month KLIBOR Futures Contract
145(1)
5.5 Contract Specifications -- 3-Month KLIBOR and 3-Month BIBOR Futures
146(3)
5.6 Determining the Equilibrium Price: The Implied Forward Rate
149(2)
5.7 3-Month IRF: Applications
151(8)
5.8 Singapore Exchange's IRF Contract: The 10-Year Mini Japanese Government Bond Futures Contract
159(6)
5.9 Determinants of IRF Prices
165(3)
5.10 Contract Performance
168(3)
5.11 Currency Forward and Futures Contracts
171(3)
5.12 The HKEX's US$/CNH Currency Futures Contract
174(12)
Summary
186(6)
Appendix
192(9)
Chapter 6 Introduction to Options
201(30)
What Are Options?
201(1)
6.1 Calls and Puts
201(2)
6.2 Payoffs to Investing in Stocks versus Options
203(10)
6.3 Expectations and Option Positions
213(1)
6.4 Options: Uses and Applications
214(4)
6.5 Option Moneyness
218(9)
Summary
227(4)
Chapter 7 Equity, Equity Index, and Currency Options
231(48)
Introduction
231(1)
7.1 Trading Option Contracts
232(2)
7.2 Option Premiums and Underlying Asset Price
234(2)
7.3 American-Style Options and Early Exercise
236(1)
7.4 Intermediation and Margining
237(2)
7.5 Option Classes and Series
239(1)
7.6 Malaysia's FBM KLCI Options: Contract Specifications
240(3)
7.7 Stock Options Traded on Hong Kong's HKEX
243(3)
7.8 Stock Index Options in Thailand-- The SET 50 Index Options
246(11)
7.9 Currency Options
257(7)
Summary
264(4)
Appendix
268(11)
Chapter 8 Option Strategies and Payoffs
279(44)
Introduction
279(1)
8.1 Uncovered/Naked Positions
280(1)
8.2 Hedge Strategies
280(8)
8.3 Spread Strategies
288(7)
8.4 Combination Strategies
295(8)
8.5 Covered Call Strategy
303(5)
8.6 Butterfly, Condor, Ratio, and Box Spreads
308(6)
8.7 Summary of Strategies by Market Outlook
314(2)
Summary
316(7)
Chapter 9 Option Pricing
323(58)
Introduction
323(1)
9.1 Asset Valuation in Finance
324(1)
9.2 The Binomial Option Pricing Model
325(9)
9.3 The Black-Scholes Option Pricing Model
334(7)
9.4 Determinants of Option Prices
341(4)
9.5 Illustration of Price Dynamics -- Changing Call and Put Values
345(1)
9.6 Issues in Option Pricing
346(4)
9.7 Implied Volatility
350(3)
9.8 Valuing Equity Index Options
353(4)
9.9 Valuing Currency Options
357(4)
Summary
361(5)
Appendix I
366(10)
Appendix II
376(5)
Chapter 10 Replication, Synthetics, and Arbitrage
381(24)
Introduction
381(1)
10.1 Replication and Synthetics
382(6)
10.2 Put-Call Parity and Arbitrage
388(8)
10.3 Put-Call Parity, Conversion and Delta Neutral Trading
396(2)
10.4 Put-Call Parity -- Empirical Evidence
398(1)
Summary
399(6)
Chapter 11 Options in Corporate Finance and Real Options
405(28)
Introduction
405(1)
11.1 Levered Equity: An Options Approach
405(6)
11.2 A Rights Issue
411(1)
11.3 The Value of Underwriting a Securities Issue
411(1)
11.4 Securities with Option-Like Features
412(3)
11.5 Real Options and Capital Budgeting
415(5)
11.6 Exotic Options
420(3)
Summary
423(4)
Appendix
427(6)
Chapter 12 Interest Rate Swaps, Credit, and Other Derivatives
433(38)
Introduction
433(1)
12.1 Interest Rate Swaps
433(3)
12.2 IRS -- Applications
436(6)
12.3 Pricing IRS
442(2)
12.4 Currency Swaps
444(4)
12.5 Nondeliverable Forward Contracts
448(3)
12.6 Forward Rate Agreement
451(2)
12.7 Credit Derivatives
453(2)
12.8 Credit Swaps
455(4)
12.9 Credit Options
459(1)
12.10 Credit-Linked Notes
460(1)
12.11 Contract for Difference
461(5)
Summary
466(5)
Chapter 13 Derivative Instruments and Islamic Finance
471(32)
Introduction
471(1)
13.1 Necessary Features for Islamic Financial Instruments
472(1)
13.2 Islamic Finance Instruments with Features of Derivative Instruments
473(4)
13.3 The Ba'i-Al-Urbun
477(1)
13.4 The Bai bil-Wafa and Bai bil-lstighlal Contracts
478(1)
13.5 The Islamic Profit Rate Swap
479(2)
13.6 Islamic Structured Products
481(6)
13.7 Sukuk with Embedded Options
487(2)
13.8 Shariah Views on the Trading of Currency and Shor/oh-Compliant Tools for Managing Currency Risk
489(3)
13.9 Is+amic View of Current-Day Derivative Instruments
492(5)
13.10 The Need for Harmonization
497(2)
Summary
499(4)
Answers to Select End-of-Chapter Questions 503(18)
References and Further Reading 521(2)
Formulas 523(6)
Index 529