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Author: Andrew DeJoy
Publisher: Simon and Schuster
ISBN: 1637630670
Category : Business & Economics
Languages : en
Pages : 153
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Book Description
Andrew DeJoy's Behind the Swap offers a middle office perspective on the risks and miscommunications in post-trade processing and provides a framework and solutions for a better approach. In August of 2020, Citibank made one of the worst mistakes in banking history: it accidently sent out almost $900 million of its own funds. Many of the recipients didn't give back the money. Citibank sued. And a federal court ruled that the recipients could keep the funds. Citibank's error is not surprising. The underlying contributors that led to the mistaken payment permeate the global financial services industry. Manual data entry, decades old technological infrastructure, inadequate training, and systems that can't interact with one another are just a few of the problems that face post-trade processing--the machinery behind financial markets. Unfortunately, years of neglect by regulators and financial institutions themselves has left this infrastructure needlessly complex, astoundingly inefficient, frequently inaccurate, and woefully inadequate for modern financial markets. The problems are easy to see but difficult to admit. For financial institutions, the current system costs billions of dollars each year in labor, systems maintenance, and lost funds. For regulators, the current system precludes the ability to track systemic risk. It also artificially inflates the stability of the global financial system. For lawyers and prosecutors, the current system allows ample opportunity for unlawful misconduct such as rogue trading and fraud. Andrew DeJoy's Behind the Swap examines the risks involved in post-trade processing in swaps and derivative markets and provides solutions to better control those risks. While Andrew doesn't claim to have all the answers, he does believe there is a better system that is both achievable and necessary.
Author: Andrew DeJoy
Publisher: Simon and Schuster
ISBN: 1637630670
Category : Business & Economics
Languages : en
Pages : 153
Get Book Here
Book Description
Andrew DeJoy's Behind the Swap offers a middle office perspective on the risks and miscommunications in post-trade processing and provides a framework and solutions for a better approach. In August of 2020, Citibank made one of the worst mistakes in banking history: it accidently sent out almost $900 million of its own funds. Many of the recipients didn't give back the money. Citibank sued. And a federal court ruled that the recipients could keep the funds. Citibank's error is not surprising. The underlying contributors that led to the mistaken payment permeate the global financial services industry. Manual data entry, decades old technological infrastructure, inadequate training, and systems that can't interact with one another are just a few of the problems that face post-trade processing--the machinery behind financial markets. Unfortunately, years of neglect by regulators and financial institutions themselves has left this infrastructure needlessly complex, astoundingly inefficient, frequently inaccurate, and woefully inadequate for modern financial markets. The problems are easy to see but difficult to admit. For financial institutions, the current system costs billions of dollars each year in labor, systems maintenance, and lost funds. For regulators, the current system precludes the ability to track systemic risk. It also artificially inflates the stability of the global financial system. For lawyers and prosecutors, the current system allows ample opportunity for unlawful misconduct such as rogue trading and fraud. Andrew DeJoy's Behind the Swap examines the risks involved in post-trade processing in swaps and derivative markets and provides solutions to better control those risks. While Andrew doesn't claim to have all the answers, he does believe there is a better system that is both achievable and necessary.
Author: Brendan Brown
Publisher: Routledge
ISBN: 1351360566
Category : Business & Economics
Languages : en
Pages : 138
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Book Description
First published in 1989, The Economics of the Swap Market looks at how the swap has become a commonplace tool for corporations throughout the OECD world to ‘lock-in’ interest rates on their borrowing. The aim of The Economics of the Swap Market, is to contribute to a redressing of the balance. Subjects covered include both those conventionally falling within the scope of micro-economics and of macroeconomics, beginning with an examination of the forces behind the take-off the swap market and a formal setting out of key arbitrage relationships which hold in equilibrium between the swap markets on international capital flow.
Author: David Boberski
Publisher: John Wiley & Sons
ISBN: 0470883251
Category : Business & Economics
Languages : en
Pages : 223
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Book Description
For traders trying to navigate the increasingly volatile credit default swap market, CDS Delivery Option provides worked-out examples, over 30 charts, a case study of Delphi, and detailed explanations of how the subprime crisis caused the credit crisis and the near collapse of the GSEs. The book includes detailed information on: how to value a CDS contract how to value the delivery option how contract value changes when the yield curve flattens or becomes steeper how contract value changes with bullish or bearish market moves how to figure out when to buy protection and when to sell protection how to hedge CDS risk when and how to unwind a contract prior to settlement when to hold a trade through delivery how to navigate a "squeeze" (when the notional value of contracts going through delivery is larger than the supply of the cheapest-to-deliver issue) when buying contracts can make their prices go down how to construct a basis trade how to find arbitrage opportunities how to analyze default probability and corporate debt when to settle via auction and when to settle via physical delivery which note is the cheapest to deliver This book is an indispensable resource for all market professionals working in the CDS market.
Author:
Publisher: Bookboon
ISBN: 8776814769
Category :
Languages : en
Pages : 186
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Book Description
Author: Graham Fulbright
Publisher: Troubador Publishing Ltd
ISBN: 1800463677
Category : Fiction
Languages : en
Pages : 496
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Book Description
If you relish writing which pushes the envelope with the unconventional, Snowcub is for you. Graham Fulbright has struck gold with his quintet of soft animal toys and their shared dreamstate metamorphoses into sharp-minded, flesh-and-blood creatures. Whereas Moby Dick’s creator thought domesticated dogs and horses Man’s cleverest mind readers, Graham looks to the wild side for nature’s shrewdest judges of human nature. But he also rings the changes, putting words into the mouths and beaks of creatures unable to think straight because of unwittingly parodying humankind. And, as is often the case with Graham, language comes under the microscope. There’s no shying away from the fact that the main thrust of this novel will sit uneasily on some readers’ consciences. An intrepid teenager has thrown down the gauntlet: face up to the inconvenient truth that most of us think animals exist to do with as we see fit. Last but not least, let’s not forget the creature after whom this novel is named. You will be hard put not to warm to the furry protagonist and his quest for self-realisation as he grapples with doubts, fears and aspirations mirroring your own. Under this heroic creature’s leadership and armed with lessons learnt from their encounters with animal life across the globe the novel’s five goodwill ambassadors become a young girl's mental support agents in defence of the planet’s threatened fauna.
Author: Robert Ward
Publisher: McGraw Hill Professional
ISBN: 0071442979
Category : Business & Economics
Languages : en
Pages : 433
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Book Description
An introduction to the complex world of options that every investor can use Too many books on options trading make the mistake of assuming that readers can already tell a delta from a sigma summation. Options and Options Trading breaks the code that envelops the often-foreign language of options, providing an accessible introduction into how the options market works as it explains the rules that traders must understand if they hope to take part in this high-leverage, high-profit game. Author Robert Ward's goal is simple--to demystify the tangled world of options trading without leaving readers too confused and frustrated to continue. The book to read before continuing on to the more detailed, and much higher-level, existing library of options trading guides, Options and Options Trading features: End-of-chapter material including "Things to Think About" and "Key Concepts" Simplified explanations of complex mathematical equations Step-by-step rationales to help readers move from basic to complex
Author: Madhumathi
Publisher: Pearson Education India
ISBN: 9332506817
Category :
Languages : en
Pages : 542
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Book Description
Through the incorporation of real-life examples from Indian organizations, Derivatives and Risk Management provides cutting-edge material comprising new and unique study tools and fresh, thought-provoking content. The organization of the text is designed to conceptually link a firm’s actions to its value as determined in the derivatives market. It addresses the specific needs of Indian students and managers by successfully blending the best global derivatives and risk management practices with an in-depth coverage of the Indian environment.
Author: Jack Cohen
Publisher: Taylor & Francis
ISBN: 113420633X
Category : Science
Languages : en
Pages : 150
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Book Description
With the spectacular developments in technology accompanying and aiding scientific research over the past few decades, postgraduate students are often encouraged to focus more on generating data than to utilize their most sophisticated piece of equipment: their mind. Stop Working & Start Thinking, Second Edition aims to encourage young researchers to think more clearly about their experiments, from experimental design to data interpretation. This new edition builds on the success of the first edition, with new material throughout and a new chapter on measurement interpretation, including an examination of cryptic assumptions. This book is essential reading for postgraduates who wish to put the mastery back into their M.Sc. and the philosophy back into their PhDs.
Author: August J. Baker
Publisher: Oxford University Press
ISBN: 019516590X
Category : Business & Economics
Languages : en
Pages : 366
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Book Description
The purpose of 'Pension & Retirement Plan Management: A Guide for Managers and Other Fiduciaries' is to provide reliable guidance for regulatory compliance, advice on managerial strategies, and some clarity on the underlying economics and finance of pension and retirement plans.
Author: Michael Lawrence
Publisher: Orchard Books
ISBN: 1408306689
Category : Juvenile Fiction
Languages : en
Pages : 144
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Book Description
Jiggy is horrified to hear that his parents have signed him up for a reality TV show called Kid Swap. He is to move in with another family and everything he does will be filmed. Sadly, most of what he does while the camera is pointing his way is not the kind of thing he wants to share with millions of total strangers. And then, on top of it all, there's his bizarre skin problem... Find out how Jiggy copes with TV fame and flick the pages for a disgusting dinner!
