After successfully creating and offering unique risk management solutions for several decades, many of the world’s leading and emerging derivative exchanges have had to reassess their business strategies, restructure their organisations and develop new products in order to cope with changing market conditions. Exchange Traded Derivatives provides the latest updates on the listed derivatives sector, including analysis of the factors that have caused structural change in the marketplace, how leading exchanges have met these challenges, and how they have enhanced and expanded their derivative offerings in order to remain an integral part of the risk management sector of the 21st century. As December 01 article in FOW highlights, “The derivatives industry in 2001 has experienced continued consolidation among users and exchanges. Electronic trading practices have further penetrated into traditional procedures, whilst exchanges have reaped healthy revenues from derivative contracts.” Part I of the book explores the forces of change that have impacted the traditional listed futures/options business over the past decade, including deregulation, globalization, competition and technology. It also discusses how leading exchanges have responded to the changing environment by becoming more flexible, altering their business models and corporate structures, entering into mergers and alliances, creating new, more ‘user friendly’ products, using technology to process business more efficiently, extending trading hours and accomodating remote access, and implementing enhanced clearing, settlement and risk controls. Part II describes how the leading global futures and options exchanges are now structured, how they make use of technology and alliances to promote and deepen business, and the nature of the products they offer; detailed product specifications for each contract are included in every chapter. Part III applies the same analysis to several of the world’s emerging exchanges, which are becoming important elements of national and regional financial systems. Parts II and III contain numerous worked examples that illustrate the essentials of using listed futures and options in risk management and speculation.
Book Details:
- Author: Erik Banks
- ISBN: 9780470667873
- Year Published: 2003
- Pages: 258
- BISAC: BUS027000, BUSINESS & ECONOMICS/Finance
About the Book and Topic:
After successfully creating and offering unique risk management solutions for several decades, many of the world’s leading and emerging derivative exchanges have had to reassess their business strategies, restructure their organisations and develop new products in order to cope with changing market conditions. Exchange Traded Derivatives provides the latest updates on the listed derivatives sector, including analysis of the factors that have caused structural change in the marketplace, how leading exchanges have met these challenges, and how they have enhanced and expanded their derivative offerings in order to remain an integral part of the risk management sector of the 21st century. As December 01 article in FOW highlights, “The derivatives industry in 2001 has experienced continued consolidation among users and exchanges. Electronic trading practices have further penetrated into traditional procedures, whilst exchanges have reaped healthy revenues from derivative contracts.” Part I of the book explores the forces of change that have impacted the traditional listed futures/options business over the past decade, including deregulation, globalization, competition and technology. It also discusses how leading exchanges have responded to the changing environment by becoming more flexible, altering their business models and corporate structures, entering into mergers and alliances, creating new, more ‘user friendly’ products, using technology to process business more efficiently, extending trading hours and accomodating remote access, and implementing enhanced clearing, settlement and risk controls. Part II describes how the leading global futures and options exchanges are now structured, how they make use of technology and alliances to promote and deepen business, and the nature of the products they offer; detailed product specifications for each contract are included in every chapter. Part III applies the same analysis to several of the world’s emerging exchanges, which are becoming important elements of national and regional financial systems. Parts II and III contain numerous worked examples that illustrate the essentials of using listed futures and options in risk management and speculation.
Important topic written by experienced author and market practitioner. Ideal for the Wiley Finance stable.
This authoritative and timely resource: * Provides a detailed, up-to-date reference on the derivatives exchanges very timely in the light of the dramatic changes that have occurred in recent years. * Presents a valuable resource to institutional investors, risk managers and corporate treasurers who need to better understand the various derivatives exchanges available, and the make-up of their product offerings. * Provides the reader with an understanding of why and what changes have taken place, giving a context which assists in their investment or hedging decisions.
About the Author
ERIK BANKS has held senior risk management positions at several global financial institutions, including XL Capital, where he was Partner and Chief Risk Officer of the Bermuda reinsurer’s derivative subsidiary, and Merrill Lynch, where he spent 13 years managing credit and market risk teams in Tokyo, Hong Kong, London and New York. Mr. Banks, an Adjunct Professor of Finance at the University of Connecticut, has written a dozen books on risk management, emerging markets, derivatives, merchant banking, and electronic finance.