Synopses & Reviews
If you work in todays financial markets, you need to master the maths
Mastering Financial Calculations is now an established classic, essential for anyone who works in finance. This second edition is a timely revision of the widely-used, hands-on guide to the maths behind every key financial instrument and technique.
- Financial market arithmetic starting with the absolute basics
- Covers everything you need to know, from options pricing and interest rate and currency swaps to zero-coupon rates and foreign exchange
- Brand new chapters on gold and other commodities and repos, buy/sell-backs and securities lending
Success in today's sophisticated financial markets depends on a firm understanding of key financial concepts and mathematical techniques. Mastering Financial Calculations explains them in a clear, comprehensive way so even if your mathematical background is limited, you'll thoroughly grasp what you need to know. Bob Steiner makes use of easy-to-follow worked examples and practical exercises to guide you through the fundamentals, making sure youve got the hang of these before walking you through the essential calculations behind the more advanced techniques that are widely used in the markets.
Whether you are a trader, fund manager, corporate treasurer, programmer, accountant, risk manager, or student, the exceptional clarity of this book means you'll quickly gain the ability to manipulate and apply these techniques with speed, accuracy and confidence.
Synopsis
The new rebranded and updated edition of the bestselling hands-on practitioner's guide to the maths behind every key financial instrument and technique.
- Part of the renowned and hugely successful Mastering series.
- This is the definitive guide to exploring todays financial markets in a clear and comprehensive manner.
- Written by Robert Steiner, one of the UKs leading trainers for some of the worlds largest financial institutions.
- The book includes essential course material and practice exercises for ACI qualifications
- This book has practicality-not theory-at its heart and is packed with real-world cases, worked examples and calculations.
- AUDIENCE: Practitioners are the primary market: traders, fund managers, corporate treasurers, programmers, accountants, and risk managers. Secondary are market students.
- This book will appeal to a huge audience. 1 in 10 people work in either banking, finance or insurance.
Synopsis
Success in todays sophisticated financial markets increasingly depends on a firm understanding of key financial concepts and mathematical techniques. This book explains them in a clear and comprehensive way for a wide audience.
Mastering Financial Calculations starts by introducing the fundamentals of financial market arithmetic, including the core concepts of discounting, net present value, effective yields and cashflow analysis and then shows you step-by-step how to master the essential calculations and financial techniques for using the full range of products in the markets. The links between the different instruments and the resulting arbitrage opportunities are fully explored, together with the practical difficulties.
Making use of many worked examples and practical exercises, the book goes on to explain concepts such as forward pricing, duration analysis, the different approaches to bond yield calculations, zero-coupon and yield curve analysis, swap valuation and option pricing in a clear and accessible way, at each stage illustrating their application using a programmable calculator.
Whether you are a trader, fund manager, corporate treasurer, programmer, accountant, risk manager or market student, this book will give you the ability to manipulate and apply the relevant techniques with speed and confidence in your marketplace.
About the Author
Bob Steiner is Managing Director for
Markets International and is an experienced financial trainer and consultant. He runs specialist courses for many financial institutions and investment banks and is also a Trainer for the ACI.
For more information on Bob's training activities, see www.markets-international.com
Table of Contents
Foreword.
Introduction.
PART 1: THE BASICS.
1. Financial Arithmetic Basics.
PART 2: INTEREST RATE INSTRUMENTS.
2. The Money Market.
3. Forward-Forwards And Forward Rate Agreements (Fras).
4. Interest Rate Futures.
5. Bond Market Calculations.
6. Zero-Coupon Rates And Yield Curves.
PART 3: FOREIGN EXCHANGE.
7. Foreign Exchange.
PART 4: SWAPS AND OPTIONS.
8. Interest Rate And Currency Swaps.
9. Options.
PART 5: FURTHER EXERCISES, HINTS AND ANSWERS.
10. Further Exercises.
11. Hints And Answers To Exercises. Appendices.