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MASTERING FINANCIAL CALCULATIONSSTEINER R.wydawnictwo: FT/PRENTICE HALL , rok wydania 1998, wydanie Icena netto: Mastering Financial Calculations A Step-by-Step Guide to the Mathematics of Financial Market Instruments Robert Steiner Description Success in today's sophisticated financial markets increasingly depends on a firm understanding of key financial concepts and mathematical techniques - these essential calculations can no longer be left to the 'rocket scientists'. This essential bestseller explains them in a clear and comprehensive way and will give you the ability to manipulate and apply the relevant techniques with speed and confidence. Features
Contents Foreword Introduction PART 1: THE BASICS 1. FINANCIAL ARITHMETIC BASICS Some opening remarks on formulas Use of an HP calculator Simple and compound interest Nominal and effective rates Future value / present value; time value of money Discount factors Cashflow analysis Interpolation and extrapolation Exercises PART 2: INTEREST RATE INSTRUMENTS 2. THE MONEY MARKET Overview Day/year conventions Money market instruments Money market calculations Discount instruments CDs paying more than one coupon Exercises 3. FORWARD-FORWARDS AND FORWARD RATE AGREEMENTS (FRAs) Forward-forwards, FRAs and futures Applications of FRAs Exercises 4. INTEREST RATE FUTURES Overview Exchange structure and margins Futures compared with FRAs Pricing and hedging FRAs with futures Trading with interset rate futures Exercises 5. BOND MARKET CALCULATIONS Overview of capital market instruments Features and variations Introduction to bond pricing Different yield measures and price calculations A summary of the various approaches to price / yield Duration, modified during and convexity Bond futures Cash-and-carry arbitrage Exercises 6. ZERO-COUPON RATES AND YIELD CURVES Zero-coupon yields and par yields Forward-forward yields Summary Longer-dated FRAs Exercises PART 3: FOREIGN EXCHANGE 7. FOREIGN EXCHANGE PART 4: SWAPS AND OPTIONS 8. INTEREST RATE AND CURRENCY SWAPS Basic concepts and applications Pricing Valuing swaps Hedging an interest rate swap Amortising and forward-start swaps Currency swaps Exercises 9. OPTIONS Overview The ideas behind option pricing Pricing models OTC options vs. exchange-traded options The Greek letters Hedging with options Some 'packaged' options Some trading strategies Some less straightforward options ExercisesPART 5: FURTHER EXERCISES, HINTS AND ANSWERS 10. FURTHER EXERCISES 11. HINTS AND ANSWERS TO EXERCISES Appendices 416 PAGES
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