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MASTERING INVESTMENT BANKING A PRACTICAL GUIDEKOZUL N. / TO STRUCTURES PRODUCTS PRICING AND CALCULATIONSwydawnictwo: PEARSON , rok wydania 2011, wydanie Icena netto: Mastering Investment Banking SecuritiesA Practical Guide to Structures, Products, Pricing and Calculations Securities are the fundamental tools and products of investment banking. They can be broadly categorized into debt - including banknotes, bonds and debentures, equity and derivative financial instruments that range from options and swaps to very complex and risky trading strategies. It is a multi-billion dollar business based on sophisticated financial models and pricing techniques. Mastering Investment Banking Securitiesis a comprehensive guide to these trading instruments, their trading practices, pricing techniques and associated risks. It includes:
Table of Contents Foreword The aim of the book Introduction PART I - STRUCTURES 1. Investment Bank Divisions Mergers and acquisitions (M&A) Capital markets (CM) Securitisation Sales and trading 2. Investment Bank Organisational Structure Front office Middle office Back office PART II – MONEY MARKETS AND CAPITAL MARKETS INSTRUMENTS 3. Money Market Products Time value of money Nominal and effective rates Cashflow analysis Overview of money market products Money market calculations 4. Capital Markets Instruments Overview of capital markets instruments Bond pricing fundamentals Other bond markets PART III – FINANCIAL DERIVATIVES 5. Speculative Financial Instruments - Derivatives Overview of derivatives markets Users of derivatives Interest rate derivatives Equity derivatives Commodity derivatives Credit derivatives 6. Financial Futures and Forward Rate Agreements (FRAs) Financial futures Forward rate agreements (FRAs) Futures vs. FRAs 7. Swaps Basic swap concepts and applications Types of swaps Swap pricing fundamentals Pricing currency swaps Equity swap valuation 8. Foreign Exchange Spot exchange rates Direct and cross-rates Forward exchange rates 9. Options Motivation behind option trading Option contract specifications Types of option contracts Option contract risks and benefits Ideas behind option pricing Put-call parity Option value sensitivities – ‘option Greeks’ Option pricing: practical implementation 10. Bond and Equity Derivatives Introduction to bond derivatives Background on equity markets 11. Commodity and Credit Derivatives Background on commodity derivatives Introduction to credit derivatives 12. OTC Derivatives and Hybrid Securities OTC derivatives Hybrid securities PART IV – PRICING AND VALUATION TOOLS 13. Probability and Statistics Definition of probability The main concepts of probability The concept of probability distribution Types of probability distribution Binomial distribution Normal distribution Log-normal distribution Other probability distributions Binomial trees 14. Yield Curves Choice of financial instruments for yield curve construction Yield curve construction methodology The three-month yield curve construction Bootstrapping the swap strip Interpolation methods The one-month curve construction The basis curve construction Shape of the yield curve 15. Quantitative Analytics Role of quantitative analytics Classification of pricing models Numerical methods Analytical methods 16. Summary of Pricing Formulae Time value of money Money markets calculations Capital markets instruments Financial futures Forward rate agreements (FRAs) Interest rate swaps Foreign exchange Option characteristics Option pricing Bond derivatives Equity derivatives Probability and statistics Yield curves PART V – RISK MANAGEMENT 17. Credit Risk on Derivatives Counterparty risk Product risk Credit risk of specific financial instruments Credit ratings Credit risk management Credit risk management best practice guidelines 18. Market Risk on Derivatives Balance sheet vs. off-balance sheet instruments Market risk on specific financial instruments Market risk management Market risk management best practice guidelines Value at risk (VAR) Appendix 1 - Glossary Appendix 2 - Option Strategies Appendix 3 – ISO (SWIFT) Currency Codes Bibliography Index 328 pages, Paperback
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