Interest Rate Swaps and Their Derivatives. A Practitioner's Guide

Develop the skillset essential to successful securitisation swaps management Securitisation Swaps is a complete practitioner’s guide to this unique and complex class of derivatives. This detailed examination follows the entire life cycle of securitisation swaps to give quants, structurers, traders, originators, issuers and lawyers a common reference for understanding their shared objective. Broad in scope to provide a common-ground perspective – yet detailed enough to promote full understanding – the discussion takes a distinctly cross-disciplinary approach that encompasses the multi-faceted knowledge base required to successfully execute these complex trades. Despite the fact that the size of the market is trillions of dollars in notional principal, securitisation swaps have thus far been neglected in both academic and practitioner literature. The numerous stakeholders that work together on these complex deals will all greatly benefit from a thorough understanding of their underlying risks and gain deep insight into the perspectives of each stakeholder. This invaluable guide provides multi-disciplinary insight that allows practitioners to: Manage securitisation swaps more effectively, from pre-trade structuring and modelling to post-trade risk management and accounting Understand the elements of securitisation and covered bonds, and how swaps mitigate risk in these types of transactions Explore how securitisation swaps differ from other derivatives and delve into their three specific risk factors – swap prepayment risk, swap extension risk and downgrade risk Learn practical methods and strategies of risk management, accounting, pricing and transaction execution When securitisation trades go wrong, they become front-page news – but when each participant understands accurate modelling, risk mitigation, optimal structuring, costs, pricing, commercial backgrounds and other integral practices, they are able to work together to achieve a shared objective. Securitisation Swaps provides the essential knowledge that streamlines and safeguards these important trades.

Derivatives are everywhere in the modern world and it is important for everyone in banking, investment and finance to have a good understanding of the subject. Derivatives Demystified provides a step-by-step guide to the subject, enabling the reader to have a solid, working understanding of key derivative products. Adopting a highly accessible approach, the author explains derivative products in straightforward terms and without the complex mathematics that underlie the subject, focusing on practical applications, case studies and examples of how the products are used to solve real-world problems. Derivatives Demystified 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, namely forwards and futures, swaps and options. The book shows how each building block is applied to different markets and to the solution of various risk management and trading problems. This new edition will be fully revised to reflect the many changes the derivatives markets have seen over the last three years. New material will include a comprehensive history of derivatives, leading up to their use and abuse in the current credit crisis. It will also feature new chapters on regulation and control of derivatives, commodity derivatives, credit derivatives and structured products and new derivative markets including inflation linked and insurance linked products. Derivatives Demystified is essential reading for everyone who operates in the financial markets or within the corporate environment who requires a good understanding of these important financial instruments.

The book is a step-by-step guide to derivative products. By distilling the complex mathematics and theory that underlie the subject, Chisholm explains derivative products in straightforward terms, focusing on applications and intuitive explanations wherever possible. Case studies and examples of how the products are used to solve real-world problems, as well as an extensive glossary and material on the latest derivative products make this book a must have for anyone working with derivative products.

Accounting expert Steven Bragg equips you with a working knowledge of the complete M&A process throughout Mergers and Acquisitions: A Condensed Practitioner's Guide, with comprehensive, reader-friendly, and straightforward advice on principal business terms, as well as the due diligence process, the customary contractual provisions, legal background, and how-to's applicable to business acquisitions. Destined to become a well-thumbed addition to every manager's library, this essential guide addresses the entire acquisition process with pragmatic information that will serve you as an excellent reference whether you are a novice or expert acquirer.

A clear, practical guide to working effectively with derivative securities products Derivatives Essentials is an accessible, yet detailed guide to derivative securities. With an emphasis on mechanisms over formulas, this book promotes a greater understanding of the topic in a straightforward manner, using plain-English explanations. Mathematics are included, but the focus is on comprehension and the issues that matter most to practitioners—including the rights and obligations, terms and conventions, opportunities and exposures, trading, motivation, sensitivities, pricing, and valuation of each product. Coverage includes forwards, futures, options, swaps, and related products and trading strategies, with practical examples that demonstrate each concept in action. The companion website provides Excel files that illustrate pricing, valuation, sensitivities, and strategies discussed in the book, and practice and assessment questions for each chapter allow you to reinforce your learning and gauge the depth of your understanding. Derivative securities are a complex topic with many «moving parts,» but practitioners must possess a full working knowledge of these products to use them effectively. This book promotes a truly internalized understanding rather than rote memorization or strict quantitation, with clear explanations and true-to-life examples. Understand the concepts behind derivative securities Delve into the nature, pricing, and offset of sensitivities Learn how different products are priced and valued Examine trading strategies and practical examples for each product Pricing and valuation is important, but understanding the fundamental nature of each product is critical—it gives you the power to wield them more effectively, and exploit their natural behaviors to achieve both short- and long-term market goals. Derivatives Essentials provides the clarity and practical perspective you need to master the effective use of derivative securities products.

An increasingly wide range of patients of different age, ethnicity and social background often combined with other clinical conditions such as diabetes, cardiovascular disease or osteoporosis now find themselves battling against obesity and many health professionals become frustrated, feeling ill-equipped to handle each unique case with the one-size-fits-all approach offered by the «eat less, exercise more» mantra. Weight Management: A Practitioner′s Guide explains how effective evidence-based programmes structured in a manner addressing the key components of diet and physical activity integrated with a behavioural approach could offer the solution to the obesity epidemic. This exciting new book from renowned experts Dympna Pearson and Clare Grace provides practitioners and those studying to become practitioners and public health professionals with a much needed modern guide that clearly presents the latest evidence underpinning treatments and uses a step-wise approach to implementing programmes and building skills and confidence. Written with the express needs of practitioners and related health professionals at its core, this book will be a ready reference for those working in both acute and community settings throughout the different and demanding stages of the weight management process. ∗ A practical guide to tackling weight management ∗ Covers diet, exercise and behavioural therapy ∗ Written for health professionals, by health professionals ∗ Includes advice on continuity of care and handling group programmes

Sets forth practices to ensure security and foster international trade Written with an international perspective, this book analyzes the complex set of factors affecting the security of port and maritime operations, including shipping, politics, economics, crime, and terrorism. Author Michael Edgerton critiques current approaches to maritime and port security based on his more than twenty-five years of experience in the field. He not only points out vulnerabilities in today's practices, but also provides a set of proven and tested recommendations that recognize the role and interests of both government and the private sector in enhancing security while ensuring the flow of international trade. Readers may be surprised to learn that, with greater efficiency, they can actually improve security while reducing the cost of security at the same time. Using real-world case studies to support its analyses and recommendations, A Practitioner's Guide to Effective Maritime and Port Security: Reviews the core components of the international maritime operating environment Assesses the potential threats to ports in the maritime environment Examines approaches to maritime port security in the United States, European Union, and around the world Presents principles for effective, risk-based maritime and port security At the end of the book, two appendices provide a framework for conducting security risk assessments and threat assessments. There's also a third appendix to help organizations assess their «risk appetite.» Recommended for students and professionals responsible for the safety and security of ports and maritime trade, this book reframes port and maritime security as a key component of a multidisciplinary system in which secure and efficient trade is the objective.

The only guide focusing entirely on practical approaches to pricing and hedging derivatives One valuable lesson of the financial crisis was that derivatives and risk practitioners don't really understand the products they're dealing with. Written by a practitioner for practitioners, this book delivers the kind of knowledge and skills traders and finance professionals need to fully understand derivatives and price and hedge them effectively. Most derivatives books are written by academics and are long on theory and short on the day-to-day realities of derivatives trading. Of the few practical guides available, very few of those cover pricing and hedging—two critical topics for traders. What matters to practitioners is what happens on the trading floor—information only seasoned practitioners such as authors Marroni and Perdomo can impart. Lays out proven derivatives pricing and hedging strategies and techniques for equities, FX, fixed income and commodities, as well as multi-assets and cross-assets Provides expert guidance on the development of structured products, supplemented with a range of practical examples Packed with real-life examples covering everything from option payout with delta hedging, to Monte Carlo procedures to common structured products payoffs The Companion Website features all of the examples from the book in Excel complete with source code

A complete guide to key intelligence and achievement tests and their effective use The tools used in the assessment process have changed dramatically in recent years. School and clinical psychologists need a comprehensive yet focused resource to which they can turn to learn the basics of key intelligence and achievement tests and how to use them in their assessments of children and adults. With its practical and straightforward presentation, Practitioner's Guide to Assessing Intelligence and Achievement provides that resource. Coedited by two well-known and respected scholars and researchers, Jack Naglieri and Sam Goldstein, the content in this timely book combines traditional and new conceptualizations of intelligence as well as ways to measure achievement. Truly readable and user-friendly, this book provides professionals with a single source from which to examine ability and achievement tests along the same general criteria. Each chapter is written by a leading scholar and test developer and is consistently structured for easy comparison of each test that is examined. Coverage includes: The theory underlying each test Description of each test Tips for administering and scoring each test Standardization, norms, and reliability of each scale Practical guidance for the use of each test Correspondence of each test to IDEA A practical tool designed to aid clinical psychologists in understanding the strengths and weaknesses of the various tests presented, Practitioner's Guide to Assessing Intelligence and Achievement provides students and practitioners with the information they need for their practice and testing efforts to be consistent with recent updates in the field and how those assessment instruments relate to changes in the laws that influence test use.

A highly-detailed, practical analysis of fixed income management The Advanced Fixed Income and Derivatives Management Guide provides a completely novel framework for analysis of fixed income securities and portfolio management, with over 700 useful equations. The most detailed analysis of inflation linked and corporate securities and bond options analysis available;, this book features numerous practical examples that can be used for creating alpha transfer to any fixed income portfolio. With a framework that unifies back office operations, such as risk management and portfolio management in a consistent way, readers will be able to better manage all sectors of fixed income, including bonds, mortgages, credits, and currencies, and their respective derivatives, including bond and interest rate futures and options, callable bonds, credit default swaps, interest rate swaps, swaptions and inflation swaps. Coverage includes never-before-seen detail on topics including recovery value, partial yields, arbitrage, and more, and the companion website features downloadable worksheets that can be used for measuring the risks of securities based on the term structure models. Many theoretical models of the Term Structure of Interest Rates (TSIR) lack the accuracy to be used by market practitioners, and the most popular models are not mathematically stable. This book helps readers develop stable and accurate TSIR for all fundamental rates, enabling analysis of even the most complex securities or cash flow structure. The components of the TSIR are almost identical to the modes of fluctuations of interest rates and represent the language with which the markets speak. Examine unique arbitrage, risk measurement, performance attribution, and replication of bond futures Learn to estimate recovery value from market data, and the impact of recovery value on risks Gain deeper insight into partial yields, product design, and portfolio construction Discover the proof that corporate bonds cannot follow efficient market hypothesis This useful guide provides a framework for systematic and consistent management of all global fixed income assets based on the term structure of rates. Practitioners seeking a more thorough management system will find solutions in The Advanced Fixed Income and Derivatives Management Guide.