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An essential guide to real-world derivatives trading

FX Derivatives Trader School is the definitive guide to the technical and practical knowledge required for successful foreign exchange derivatives trading. Accessible in style and comprehensive in coverage, the book guides the reader through both basic and advanced derivative pricing and risk management topics.

The basics of financial markets and trading are covered, plus practical derivatives mathematics is introduced with reference to real-world trading and risk management. Derivative contracts are covered in detail from a trader's perspective using risk profiles and pricing under different derivative models. Analysis is approached generically to enable new products to be understood by breaking the risk into fundamental building blocks. To assist with learning, the book also contains Excel practicals which will deepen understanding and help build useful skills.

The book covers of a wide variety of topics, including:

• Derivative exposures within risk management
• Volatility surface construction
• Implied volatility and correlation risk
• Practical tips for students on trading internships and junior traders
• Market analysis techniques

FX derivatives trading requires mathematical aptitude, risk management skill, and the ability to work quickly and accurately under pressure. There is a tremendous gap between option pricing formulas and the knowledge required to be a successful derivatives trader. FX Derivatives Trader School is unique in bridging that gap.

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THE ESSENTIAL GUIDE TO FX DERIVATIVES TRADING

Successful traders have a combination of mathematical aptitude, the ability to work quickly and accurately under pressure, and keen risk management skills. Derivatives traders also need to understand the framework in which they are operating. FX Derivatives Trader School offers FX derivatives traders at all levels of expertise a hands-on guide to the technical skills and practical knowledge required in order to thrive in this dynamic environment.

The text starts by explaining simple FX derivatives products and gradually increases the complexity through standard exotic products right through to advanced multi-asset and volatility-based products. There are also Excel practicals which implement ideas from the text, hence building vital real-world skills.

Offering something for everyone from students to novice traders to experienced professionals, FX Derivatives Trader School is certain to become a common sight on trading floors everywhere.

정보제공 :

Preface	p. xi
Acknowledgments	p. xiii
Part I	The Basic	p. 1
Chapter 1	    Introduction to Foreign Exchange	p. 3
Chapter 2	    Introduction to FX Derivatives	p. 11
Chapter 3	    Introductction to Trading	p. 19
Practical A	        Building a Trading Simulator in Excel	p. 27
Chapter 4	    FX Derivative Market Structure	p. 39
Chapter 5	    The Black-Scholes Framework	p. 57
Practical B	        Building a Numerical Integration Option Pricer in Excel	p. 69
Chapter 6	    Vanilla FX Derivatives Greek	p. 77
Practical C	        Building a Black-Scholes Option Pricer in Excel	p. 91
Chapter 7	    Vanilla FX Derivatives Pricing	p. 103
Chapter 8	    Vanilla FX Derivatives Structure	p. 121
Chapter 9	    Vanilla FX Derivatives Risk Management	p. 137
Chapter 10	    Vanilla FX Derivatives Miscellaneous Topics	p. 159
Practical D	        Generating Tenor Dates Excel	p. 165
Part II	The Volatility Surace	p. 169
Chapter 11	    ATM Curve Construction	p. 171
Practical E	        Constructing an ATM Curve in Excel	p. 193
Chaper 12	    Volatility Smile Market Instruments and Exposures	p. 205
Practical F	        Constructing a Volatility Smile in Excel	p. 233
Chapter 13	    Probability Density Functions	p. 241
Practical G	        Generating a Probability Density Function from Option Prices in Excel	p. 253
Part III	Vanilla FX Derivatives Trading	p. 261
Chapter 14	    Vanilla FX Derivatives Trading Exposures	p. 263
Chapter 15	    Vanilla FX Derivatives Trading Topics	p. 293
Chapter 16	    ATM Volatility and Correlation	p. 313
Chapter 17	    FX Derivatives Market Analysis	p. 323
Part IV	Exotic FX Derivatives	p. 355
Chapter 18	    Exotic FX Derivatives Pricing	p. 357
Chapter 19	    FX Derivatives Pricing Models	p. 375
Chapter 20	    Exotic FX Derivatives Product Classification	p. 387
Chapter 21	    European Digital Options	p. 399
Chapter 22	    European Barrier Options	p. 413
Chapter 23	    Touch Options	p. 423
Chapter 24	    American Barrier Options	p. 439
Chapter 25	    Exotic FX Derivatives Trading Topics	p. 461
Chapter 26	    Window Barrier and Discrete Barrier Options	p. 473
Practical H	        Building a Monte Carol Options Pricer in Excel	p. 485
Chapter 27	    Vanilla Variations	p. 497
Chapter 28	    Accural and Target Redemption Options	p. 515
Chapter 29	    Asian Options	p. 527
Chapter 30	    Multi-Asset Options	p. 539
Chapter 31	    Miscellaneous Options	p. 555
Further Reading	p. 573
About the Companion Website	p. 573
Index	p. 577