Brings together a range of
practical, relevant material on Foreign Exchange and money market trading.
Focuses on trading
situations as well as on calculations.
International in coverage,
the concepts and methods covered are not restricted to any country or institution
Floating rates, central-bank
intervention, derivatives trading and the very high volumes of speculative and
round-the-clock trading are just a few of the facets of the foreign exchange marketplace
that make it a highly dynamic and volatile arena. This book addresses the practical
applications of foreign currency trading and money market trading and provides
comprehensive coverage of these markets.
Coverage includes:
What the instruments are
How and why they are used -
by both bank dealers and corporate end-users
How the different
instruments are linked one to another
How you price them
Structure of the market, EMU
etc
The range of risks arising
from dealings in these instruments that affect banks and corporates
How these risks are measured
and managed
Bob Steiner is Managing
Director of Markets International Ltd, an independent company specializing in training in
a range of areas related to the international financial markets, treasury and banking. He
has also written the best selling books: Mastering Financial Calculations, Mastering Repo
Markets, and Key Market Concepts. Bob was previously senior consultant with HSBC, where he
worked in London and New York in the dealing area as consultant to major US and European
companies on treasury management. He has also been treasurer and fund manager of H P
Bulmer Holdings plc and English and American Insurance Group plc, both active in currency
and interest rate management. He has also worked in the overseas Department of the Bank of
England, and with the European Commission in Brussels. He holds an honours degree in
mathematics from Cambridge University, and has followed further studies in economics with
London University. He is a member of the ACI and the Association of Corporate Treasurers.
Contents:
Some basic concepts
Essential financial arithmetic
Overview of money market instruments
Deposits and coupon-bearing instruments
Discount instruments
Forward interest rates, FRAs and introduction to futures
Spot foreign exchange
Forward outrights and swaps
Hedging swaps with deposits
FRAs and futures, covered interest arbitrage & creating synthetic FRAs
Managing the spot risk on a forward FX position
Currency relationships
Bank risk management
Corporate risk management
Answers to the exercises
Appendices
Readership: Foreign
Exchange traders in FX departments of commercial banks; Security firms, insurance
companies, and other Finance organisations; Corporate Treasurers and Foreign Exchange
Traders; Portfolio Managers.
330 pages