Fundamentals of Futures and Options Markets, 9/e
Fundamentals of Futures and Options Markets covers much of the same material as Hull’s acclaimed title, Options, Futures and Other Derivatives.
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Fundamentals of Futures and Options Markets, 9/e
Fundamentals of Futures and Options Markets covers much of the same material as Hull’s acclaimed title, Options, Futures and Other Derivatives. However, this text simplifies the language for a less mathematically sophisticated audience. Omitting calculus completely, the book is suitable for any graduate or undergraduate course in business, economics and other faculties. The Ninth Edition has a flexible structure that can be used for any course length. Instructors can choose to cover only the first 12 chapters, finishing with binomial trees or to cover chapters 13-25 in a variety of different sequences. Each chapter from 18 onwards can be taught independently as its own unit. No matter how you elect to divide the material, Fundamentals of Futures and Options Markets offers a wide audience a sound and easy-to-grasp introduction into financial mathematics.
Features :
- Updated! Streamlined material based on recent trends in the derivatives market makes the text both more appealing and logical.
- The derivatives market’s move towards IOS discounting has continued since the last edition and changes have been made to the first seven chapters to reflect this trend.
- LIBOR discounting is no longer presented as a way to value instruments such as swaps and forward rate agreements.
- Instead, the valuation of these instruments requires a) forward rates for the rate used to calculate payments (usually LIBOR) and b) the zero-coupon, risk-free zero curve used for discounting (usually the OIS zero curve).
- Information Throughout Has Been Brought Up-to-date
- New regulations concerning the clearing and trading of OTC derivatives has been expanded on throughout the text.
- Revised Chapter 7 on swaps has been majorly reworked to improve material presentation and reflect the derivatives market’s move to OIS discounting.
- Updated Discussion of the impact of daily settlement when futures contracts are used for hedging has been expanded.
- Updated Details on the calculation and use of Greek letters are included.
- Updated Discussion of the expected shortfall measure reflects its increasing importance in the field.
Table of Contents :
- Introduction
- Futures markets and central counterparties
- Hedging strategies using futures
- Interest rates
- Determination of forward and futures prices
- Interest rate futures
- Swaps
- Securitization and the credit crisis of 2007
- Mechanics of options markets
- Properties of stock options
- Trading strategies involving options
- Introduction to binomial trees
- Valuing stock options: the Black–Scholes–Merton model
- Employee stock options
- Options on stock indices and currencies
- Futures options and Black’s model
- The Greek letters
- Binomial trees in practice
- Volatility smiles
- Value at risk and expected shortfall
- Interest rate options
- Exotic options and other nonstandard products
- Credit derivatives
- Weather, energy and insurance derivatives
- Derivatives mishaps and what we can learn from them
| Book | |
|---|---|
| Author | Hull |
| Pages | 624 |
| Year | 2018 |
| ISBN | 9789352865635 |
| Publisher | Pearson |
| Language | English |
| Uncategorized | |
| Edition | 9/e |
| Weight | 730 g |
| Dimensions | 20.3 x 25.4 x 4.7 cm |
| Binding | Paperback |