Download or read book Wall Street Bank Involvement with Physical Commodities written by United States. Congress. Senate. Committee on Homeland Security and Governmental Affairs. Permanent Subcommittee on Investigations and published by . This book was released on 2014 with total page 1306 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Engineering and Arbitrage in the Financial Markets written by Robert Dubil and published by John Wiley & Sons. This book was released on 2011-10-13 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: A whole is worth the sum of its parts. Even the most complex structured bond, credit arbitrage strategy or hedge trade can be broken down into its component parts, and if we understand the elemental components, we can then value the whole as the sum of its parts. We can quantify the risk that is hedged and the risk that is left as the residual exposure. If we learn to view all financial trades and securities as engineered packages of building blocks, then we can analyze in which structures some parts may be cheap and some may be rich. It is this relative value arbitrage principle that drives all modern trading and investment. This book is an easy-to-understand guide to the complex world of today’s financial markets teaching you what money and capital markets are about through a sequence of arbitrage-based numerical illustrations and exercises enriched with institutional detail. Filled with insights and real life examples from the trading floor, it is essential reading for anyone starting out in trading. Using a unique structural approach to teaching the mechanics of financial markets, the book dissects markets into their common building blocks: spot (cash), forward/futures, and contingent (options) transactions. After explaining how each of these is valued and settled, it exploits the structural uniformity across all markets to introduce the difficult subjects of financially engineered products and complex derivatives. The book avoids stochastic calculus in favour of numeric cash flow calculations, present value tables, and diagrams, explaining options, swaps and credit derivatives without any use of differential equations.
Download or read book Theory and Applications of Monte Carlo Simulations written by Wai Kin (Victor) Chan and published by BoD – Books on Demand. This book was released on 2013-03-06 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this book is to introduce researchers and practitioners to recent advances and applications of Monte Carlo Simulation (MCS). Random sampling is the key of the MCS technique. The 11 chapters of this book collectively illustrates how such a sampling technique is exploited to solve difficult problems or analyze complex systems in various engineering and science domains. Issues related to the use of MCS including goodness-of-fit, uncertainty evaluation, variance reduction, optimization, and statistical estimation are discussed and examples of solutions are given. Novel applications of MCS are demonstrated in financial systems modeling, estimation of transition behavior of organic molecules, chemical reaction, particle diffusion, kinetic simulation of biophysics and biological data, and healthcare practices. To enlarge the accessibility of this book, both field-specific background materials and field-specific usages of MCS are introduced in most chapters. The aim of this book is to unify knowledge of MCS from different fields to facilitate research and new applications of MCS.
Download or read book Material Markets written by Donald MacKenzie and published by Oxford University Press, USA. This book was released on 2009 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial markets, processes, and instruments are often difficult to fathom; and recent turbulence suggests they may be out of control in some respects. Donald Mackenzie is one of the most perceptive analysts of the workings of the financial world. In this book, MacKenzie argues that economic agents and markets need to be analyzed in their full materiality: their physicality, their corporeality, their technicality. Markets are populated not by disembodied, abstract agents, but by embodied human beings and technical systems. Concepts and systematic ways of thinking that simplify market processes and make them mentally tractable are essential to how markets function. In putting forward this material sociology of markets, the book synthesizes and contributes to the new field of social studies of finance: the application to financial markets not just of economics but of wider social-science disciplines, in particular science and technology studies. The topics covered include hedge funds (the book contains the first social-science study of a hedge fund based on direct observation); the development of financial derivatives exchanges (non-existent in 1970, but now trading products equivalent to $13,000 for every human being on earth); arbitrage; how corporate profit figures are constructed; and the crucial new markets in carbon emissions. The book will appeal to research students and academics across the social sciences, and the general reader will enjoy the book's explanations and analyses of some of the most important phenomena of today's turbulent markets. Donald MacKenzie is Professor of Sociology (Personal Chair) at the University of Edinburgh. He was winner of the 2005 John Desmond Bernal Prize, awarded jointly by the Society for Social Studies of Science and the Institute for Scientific Information, for career contributions to the field of science studies. His books include Inventing Accuracy (MIT Press, 1990), Knowing Machines (MIT Press, 1996), Mechanizing Proof (MIT Press, 2001), and An Engine, Not a Camera: How Financial Models Shape Markets (MIT Press, 2006).
Download or read book Handbook on Electricity Markets written by Glachant, Jean-Michel and published by Edward Elgar Publishing. This book was released on 2021-11-12 with total page 672 pages. Available in PDF, EPUB and Kindle. Book excerpt: With twenty-two chapters written by leading international experts, this volume represents the most detailed and comprehensive Handbook on electricity markets ever published.
Download or read book General Explanation of the Tax Reform Act of 1986 written by United States. Congress. Joint Committee on Taxation and published by . This book was released on 1987 with total page 1404 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Oxford Handbook of the Sociology of Finance written by Karin Knorr Cetina and published by OUP Oxford. This book was released on 2012-11-29 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent years have seen a surge of interest in the workings of financial institutions and financial markets beyond the discipline of economics, which has been accelerated by the financial crisis of the early twenty-first century. The Oxford Handbook of the Sociology of Finance brings together twenty-nine chapters, written by scholars of international repute from Europe, North America, and Asia, to provide comprehensive coverage on a variety of topics related to the role of finance in a globalized world, and its historical development. Topics include global institutions of modern finance, types of actors involved in financial transactions and supporting technologies, mortgage markets, rating agencies, and the role of financial economics. Particular attention is given to financial crises, which are discussed in a special section, as well as to alternative forms of finance, including Islamic finance and the rise of China. The Handbook will be an indispensable tool for academics, researchers, and students of contemporary finance and economic sociology, and will serve as a reference point for the expanding international community of scholars researching these areas from a broadly-defined sociological perspective.
Download or read book General Explanation of the Tax Reform Act of 1986 written by and published by . This book was released on 1987 with total page 1412 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Enabling Deep Negative Rates to Fight Recessions A Guide written by Ruchir Agarwal and published by International Monetary Fund. This book was released on 2019-04-29 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: The experience of the Great Recession and its aftermath revealed that a lower bound on interest rates can be a serious obstacle for fighting recessions. However, the zero lower bound is not a law of nature; it is a policy choice. The central message of this paper is that with readily available tools a central bank can enable deep negative rates whenever needed—thus maintaining the power of monetary policy in the future to end recessions within a short time. This paper demonstrates that a subset of these tools can have a big effect in enabling deep negative rates with administratively small actions on the part of the central bank. To that end, we (i) survey approaches to enable deep negative rates discussed in the literature and present new approaches; (ii) establish how a subset of these approaches allows enabling negative rates while remaining at a minimum distance from the current paper currency policy and minimizing the political costs; (iii) discuss why standard transmission mechanisms from interest rates to aggregate demand are likely to remain unchanged in deep negative rate territory; and (iv) present communication tools that central banks can use both now and in the event to facilitate broader political acceptance of negative interest rate policy at the onset of the next serious recession.
Download or read book Discrete Time Approximations and Limit Theorems written by Yuliya Mishura and published by Walter de Gruyter GmbH & Co KG. This book was released on 2021-10-25 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: The De Gruyter Series in Probability and Stochastics is devoted to the publication of high-level monographs and specialized graduate texts in any branch of modern probability theory and stochastics, along with their numerous applications in other parts of mathematics, physics and informatics, in economics and finance, and in the life sciences. The aim of the series is to present recent research results in the form of authoritative and comprehensive works that will serve the probability and stochastics community as basis for further research. Editorial Board Itai Benjamini, Weizmann Institute of Science, Israel Jean Bertoin, Universität Zürich, Switzerland Michel Ledoux, Université de Toulouse, France René L. Schilling, Technische Universität Dresden, Germany
Download or read book Commodity Derivatives Trading written by Madhoo Pavaskar and published by Notion Press. This book was released on 2016-10-11 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the long and chequered history of commodity derivatives trading in this country, extending for more than century and a half, neither the lay nor the learned, including, surprisingly, most economists and even those involved in regulation of commodity derivatives exchanges, betray lack of knowledge on the theory, working, utility, and regulation of trading in commodity derivatives of diverse hues. It is against this background, the present book is aimed at teaching the commodity derivatives exchanges, their participants, the regulator s, and the students of commodity derivatives economics and managements, both the theory and regulation of commodity derivatives trading in all its aspects. For, a commodity economy like India must aim to develop strong global commodity derivatives markets in the country to promote swift growth in agriculture, industry, and international trade by strengthening competition and competitive efficiency to improve productivity, as also proficiency in marketing in all sectors of the economy. This book is a modest step towards achieving that aim and objective.
Download or read book Limit Order Books written by Frédéric Abergel and published by Cambridge University Press. This book was released on 2016-05-09 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: A limit order book is essentially a file on a computer that contains all orders sent to the market, along with their characteristics such as the sign of the order, price, quantity and a timestamp. The majority of organized electronic markets rely on limit order books to store the list of interests of market participants on their central computer. A limit order book contains all the information available on a specific market and it reflects the way the market moves under the influence of its participants. This book discusses several models of limit order books. It begins by discussing the data to assess their empirical properties, and then moves on to mathematical models in order to reproduce the observed properties. Finally, the book presents a framework for numerical simulations. It also covers important modelling techniques including agent-based modelling, and advanced modelling of limit order books based on Hawkes processes. The book also provides in-depth coverage of simulation techniques and introduces general, flexible, open source library concepts useful to readers studying trading strategies in order-driven markets.
Download or read book Option Pricing Interest Rates and Risk Management written by Elyès Jouini and published by Cambridge University Press. This book was released on 2001 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2001 handbook surveys the state of practice, method and understanding in the field of mathematical finance. Every chapter has been written by leading researchers and each starts by briefly surveying the existing results for a given topic, then discusses more recent results and, finally, points out open problems with an indication of what needs to be done in order to solve them. The primary audiences for the book are doctoral students, researchers and practitioners who already have some basic knowledge of mathematical finance. In sum, this is a comprehensive reference work for mathematical finance and will be indispensable to readers who need to find a quick introduction or reference to a specific topic, leading all the way to cutting edge material.
Download or read book The ETF Handbook written by David J. Abner and published by John Wiley & Sons. This book was released on 2016-07-27 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: Professional-level guidance on effectively trading ETFs in markets around the world The ETF Handbook is a comprehensive handbook for using Exchange Traded Funds, designed specifically for institutional investors and professional advisors seeking to improve ETF profitability. While ETFs trade like stocks, they are not stocks—and the differences impact every aspect of their use. This book provides full guidance toward effectively monitoring, analyzing, and executing ETFs, including the technical details you won't find anywhere else. You'll learn how they work, where they fit, and who is using them, as well as the resources that exist to provide access for investors. This new second edition includes updated coverage on how business has moved from niche to mainstream, ETF performance and issuers around the world, and changes to the users of ETFs in the US. The companion website features instructional video, as well as ready-to-use spreadsheets for calculating NAV and IIV. Most of the literature surrounding ETFs is geared toward individual investors or traders, but this book is written from the professional perspective—complete with the deeper mechanical information professionals require. Learn the analysis and execution methods specific to ETFs Discover why ETFs require a sophisticated level of skill Consider how ETFs perform in different market environments Examine the impact of managed ETF portfolio growth ETFs are incredibly flexible and valuable tools, but using them effectively demands a more sophisticated skillset, even among professional money managers and traders. Daily volumes and spreads do not tell the full story regarding availability and liquidity, and treating ETFs just like stocks can dramatically impact profits. The ETF Handbook is the professional's guide to the ETF markets worldwide with expert insight on the technical details that matter.
Download or read book Handbook of Multi Commodity Markets and Products written by Andrea Roncoroni and published by John Wiley & Sons. This book was released on 2015-04-27 with total page 1076 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Multi-Commodity Markets and ProductsOver recent decades, the marketplace has seen an increasing integration, not only among different types of commodity markets such as energy, agricultural, and metals, but also with financial markets. This trend raises important questions about how to identify and analyse opportunities in and manage risks of commodity products. The Handbook of Multi-Commodity Markets and Products offers traders, commodity brokers, and other professionals a practical and comprehensive manual that covers market structure and functioning, as well as the practice of trading across a wide range of commodity markets and products. Written in non-technical language, this important resource includes the information needed to begin to master the complexities of and to operate successfully in today’s challenging and fluctuating commodity marketplace. Designed as a practical practitioner-orientated resource, the book includes a detailed overview of key markets – oil, coal, electricity, emissions, weather, industrial metals, freight, agricultural and foreign exchange – and contains a set of tools for analysing, pricing and managing risk for the individual markets. Market features and the main functioning rules of the markets in question are presented, along with the structure of basic financial products and standardised deals. A range of vital topics such as stochastic and econometric modelling, market structure analysis, contract engineering, as well as risk assessment and management are presented and discussed in detail with illustrative examples to commodity markets. The authors showcase how to structure and manage both simple and more complex multi-commodity deals. Addressing the issues of profit-making and risk management, the book reveals how to exploit pay-off profiles and trading strategies on a diversified set of commodity prices. In addition, the book explores how to price energy products and other commodities belonging to markets segmented across specific structural features. The Handbook of Multi-Commodity Markets and Products includes a wealth of proven methods and useful models that can be selected and developed in order to make appropriate estimations of the future evolution of prices and appropriate valuations of products. The authors additionally explore market risk issues and what measures of risk should be adopted for the purpose of accurately assessing exposure from multi-commodity portfolios. This vital resource offers the models, tools, strategies and general information commodity brokers and other professionals need to succeed in today’s highly competitive marketplace.
Download or read book Global Financial Networked Governance written by Peter Knaack and published by Taylor & Francis. This book was released on 2022-12-30 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global Financial Networked Governance provides a careful analysis of the Financial Stability Board (FSB) and the standard-setters under its umbrella to show how such government networks harness the power of public reputation to herd their members into compliance. The FSB’s track record in coordinating global financial regulatory reform is uneven. Some items on its agenda have seen the rapid evolution of globally coordinated regulatory standards and their implementation by all member states, sometimes even ahead of the stipulated timelines. In contrast, other initiatives have stalled at different stages of the policymaking process, global coordination is lacking, deadlines have been missed, and it is currently unclear when the post-crisis financial reform project will come to completion, if ever. In this book, the author asks the question: why has the FSB succeeded in some areas of its global financial regulatory coordination work and not in others? The book traces the global policymaking process in three major issue areas: banking regulation (Basel III), over-the-counter (OTC) derivatives, and ending too-big-to-fail. Through a combination of careful process tracing and rigorous testing against alternative explanations, it challenges the existing literature by revealing that the institutional pathway of policymaking is the main predictor of FSB progress. It shows that government networks on their own have succeeded in implementing globally coherent safety standards. In contrast, legislation and legislators in key G20 countries have limited the power and effectiveness of the FSB. The author analyzes the causes and effects of this phenomenon and suggests a novel institutional solution to the effectiveness-legitimacy dilemma that global governance forums face, combining the advantages of functional specialization and electoral accountability. This book will be of great interest to graduate students; academics working at the intersection of economics, political science, and international law; students of the FSB in particular; and policymakers in global economic governance.
Download or read book Providing for Further Consideration of the Bill H R 4173 to Provide for Financial Regulatory Reform to Protect Consumers and Investors to Enhance Federal Understanding of Insurance Issues to Regulate the Over the counter Derivatives Markets and for Other Purposes written by United States. Congress. House. Committee on Rules and published by . This book was released on 2009 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt:
