Foreign Exchange A Practical Guide to the FX Markets

ISBN-10: 0471732036

ISBN-13: 9780471732037

Edition: 2006

List price: $100.00 Buy it from $62.19
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Description:

A straightforward, rigorous, and thorough introduction to foreign exchange Blending theory and practice, Foreign Exchange progresses from a short history of the foreign exchange market and a description of the FX Spot Market through currency forwards and other derivatives, to FX options strategies and more exotic and complex structures-making this technical information generally accessible. What is even more unique is that this book frames the foreign exchange market in practical economic terms, so that it can be used as a primer or as a practical guide for traders, institutional investors, and the banking community to make sense of today's wide variety of FX products in an ever-evolving and dynamic market environment. Tim Weithers, PhD (Fairfield CT), was one of the members of the Education Department of the O'Connor Partnership, a legendary proprietary option trading firm which is now part of UBS Investment Bank. As a Managing Director of Financial Markets Education for UBS, he teaches thousands of clients and employees and serves as a faculty member of the Graduate Program on Financial Mathematics at the University of Chicago
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Book details

List price: $100.00
Copyright year: 2006
Publisher: John Wiley & Sons, Incorporated
Publication date: 8/12/2013
Binding: Hardcover
Pages: 336
Size: 6.25" wide x 9.25" long x 1.25" tall
Weight: 1.672
Language: English

TIM WEITHERS, PhD, was one of the members of the Education Department of the O'Connor Partnership, a legendary proprietary option trading firm, which is now part of UBS. As a Managing Director of Financial Markets Education for UBS, he teaches thousands of clients and employees every year through seminars and internal classes, and serves as a faculty member of the Graduate Program on Financial Mathematics at The University of Chicago.

Preface
Acknowledgments
Trading Money
Introduction
Trading Money
The Roles Money Plays
The Major Currencies
Some Interesting Questions
Countries, Currencies, and ISO Codes
Markets, Prices, and Marketmaking
What Is a "Market"?
What Is a "Price"?
Buyers and Sellers
Marketmaking
Summary
Interest Rates
What Are "Interest Rates"?
Inflation
Day Count or Day Basis
Compounding
Discounting
Types of Interest Rates
Interest Rates in the Real World
Brief History of Foreign Exchange
Historical Background
The FX Markets Today
The Regulatory Environment and Central Bank Intervention
Summary
The Foreign Exchange Spot Market
The Spot Market
Spot FX Quoting Conventions
Economic Interpretation
Purchasing Power Parity
Cross Rates and Triangular Arbitrage in the Spot Market
The Bid-Ask Spread in Foreign Exchange
Timing
Settlement
Market Jargon
"The Best Arbitrage Around!"
Foreign Exchange Forwards
Introduction to Forwards and Forward Pricing
Foreign Exchange Forwards and Forward Pricing
Interest Rate Parity (Covered Interest Arbitrage)
FX Spot-Forward Arbitrage
FX Forward Price Quotes and Forward Points
Timing
Off-Market Forwards
Foreign Exchange Forwards in the Real World
Foreign Exchange Futures
Background
Futures versus Forwards
Foreign Exchange Futures Contract Specifications
Margin
Why Use Futures?
Options on FX Futures
Summary
Foreign Exchange Swaps or Cross-Currency Swaps or Cross-Currency Interest Rate Swaps or...
Introduction
FX Spot-Forward Swaps
Cross-Currency Swaps or FX Cross-Currency Interest Rate Swaps or FX Bond Swaps
Summary
Foreign Exchange Options
Option Basics
Equity Options
Put-Call Parity with Equity Options
In-the-Money, At-the-Money, and Out-of-the-Money
Theoretical Option Value and Option Risk Measures ("The Greeks")
Foreign Exchange Options
Put-Call Parity in Foreign Exchange
Perspective Matters
FX Option Premium
Volatility
Uses and Strategies
Theoretical Option Valuation
The Binomial Model
The Black-Scholes/Garman-Kohlhagen Model
The Garman-Kohlhagen Option Risk Measures or "Greeks"
Exotic Options and Structured Products
What Is an Exotic Option?
Nonstandard Options
Digital or Binary Options
Barrier Options
Other Exotic Options
FX-Linked Notes
The Economics of Exchange Rates and International Trade
Money versus Currency
Types of FX Exposures
Fixed versus Floating Exchange Rates
Implications of Monetary Policy
Trade Deficits: A Curse or a Blessing
Politics and Economics
Currency Crises
The End of Bretton Woods
Bankhaus Herstatt
The ERM Crisis of 1992
The Asian Crisis of 1997
The Russian Crisis of 1998
The Turkish Lira Crisis of 2001
The Argentinean Peso Crisis of 2002
Summary
Technical Analysis
Introductio
What Is Technical Analysis?
Methods of Technical Analysis
Technical Analysis in Foreign Exchange
Technical Analysis Today
Summary
Where Do We Go From Here?
Conclusion
Precious Metals
Answers to the Chapter Exercises
Notes
References
About the Author
Index
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