Understanding Swaps - Hardcover

Marshall, John F.; Kapner, Kenneth R.

Hardcover

ISBN 10: 0471308277 ISBN 13: 9780471308270

Publisher: Wiley, 1993

Synopsis

From plain vanilla swaps to swaptions to circus swaps here s themost comprehensive, practical introduction to the global world ofswaps Understanding Swaps Financial personnel, corporate treasurersand professional cash managers seeking a practical, hands-onintroduction to swaps sophisticated financial instruments usedglobally to control interest payments, manage debt, and enhanceinvestment portfolios need look no further than UnderstandingSwaps.

"Jack Marshall and Ken Kapner have done a superb job of providing acomplete, easy-to-read primer to derivative products. Using clearlanguage and concise examples, it lays out the world of swaps forthe practitioner, student, accountant, lawyer or regulator." RobertJ. Schwartz EUP and Chief Operating Officer Mitsubishi CapitalMarkets, Inc.

"Marshall and Kapner have produced an exceptionally cogentdescription and analysis of the swaps market along with itsessential technical and theoretical underpinnings. This book shouldbe number one on the reading list for any student or practitionerof contemporary financial techniques." J. Michael Payte SeniorManaging Director Bear Sterns & Co., Inc.

"Understanding Swaps details the complete world of swaps: thebasics (interest rate and currency swaps), the vogue (equity andcommodity swaps), and the future (macroeconomic swaps). Indeed,Understanding Swaps is the book I would recommend to someone for acomprehensive and very readable primer on swaps." Carolyn JacksonFirst Vice President Banque Indosuez

About this title

From the Publisher:

International experts on swap theory introduce readers to the three trillion dollar world of swaps, providing a conceptual and practical framework in order to understand this complex field. Explains how swaps are priced, how markets are generated by the swap dealer and broker and how dealers manage their swap portfolios. Excellent examples illustrate how complex financial structures can be built by using a number of diverse swaps and related instruments as building blocks.

From the Inside Flap:

Now, Understanding Swaps provides an optimal entry point for financial professionals seeking to master the conceptual and practical intricacies of this complex, highly profitable field. Designed for swap market beginners and experienced pros alike, this practical primer first explains what swaps are and how and why they are traded, then profiles the principal international swaps players. In clear, simple English, it then demonstrates how swaps are priced and quoted, how markets are made by swap dealers and brokers, and how to follow new capital and documentation requirements. For maximum utility, Understanding Swaps breaks down interest rate, currency, commodity, and equity swaps into their essential components. Then, using excellent examples and easy-to-follow diagrams, it graphically illustrates how to combine a number of basic swaps and related instruments to build complex financial structures that can be used to:

• Convert a commercial paper rollover strategy into a fixed debt rate
• Hedge exchange rate risk by converting a floating commodity price in one currency to a fixed price in another
• Convert a financial obligation denominated in one currency into an obligation denominated in any other currency
• Arbitrate capital markets by exploiting subtle price and interest rate discrepancies

Brimming with case studies that show how to compare both the pricing of swaps offered by different swaps dealers and the all-in-one of swap alternatives to other financing and/or available risk management opportunities, Understanding Swaps delivers the practical, hands-on information today’s financial pros need to get up to speed in this new high-volume, high-profit industry.

About this edition

• Publisher: Wiley
• Publication date: 1993
• ISBN 10: 0471308277
• ISBN 13: 9780471308270
• Binding: Hardcover
• Edition number: 1
• Number of pages: 288