Exotic options and hybrids: a guide to structuring, pricing and trading

Toxic waste . . it is a sad day when derivatives are described as toxic waste. Are these financial products really so, particularly those of exotic nature,or is it in fact people's grasp and usage of them that is the source of toxicity? While the use of derivatives increased in recent years at astounding rates, the crash of 2008 has revealed that people's understanding of them has not rivalled their spread. Exotic Options and Hybrids is the first book to guide practitioners on how to structure, price and trade modern exotic and hybrid derivatives, without complicating matters with the use of maths. Starting from the unique practical setting of being in a derivatives operation, the book focuses on the three main parts of a derivative's life: the structuring of a product, its pricing and its hedging. He book will take readers through all the applications, strengths and limitations of various models, focussing on the products and their risks rather than the model implementations. Readers can thus understand how models work when applied to pricing and hedging. The book covers amultitude of structures and encompasses many of the most up-to-date and promising products, including hybrid derivatives and dynamic strategies. Each structure is analysed with a utility based approach to its structuring, and an insightful risk based approach to its pricing and hedging. As well as providing comprehensive coverage of exotic options, this book will also dedicate a number of chapters to hybrid derivatives, looking at their nature and at the construction of hybrid products. By discussing exotic options and hybrids in a practical, non-mathematical and highly intuitive setting, this book will blast the misunderstandings and the stigma, and stand strong as the only book in its classto make these ‘exotic’ concepts truly accessible.Mohamed Bouzoubaa (Rabat, Morocco), is an experienced practitioner in the world of derivatives, and is currently Head of Derivatives Trading and Structuring at CDG Capital in Rabat. He worked in Paris in Equity Derivative Sales at Societe General and was a Risk and Fund Management expert at Sophis specializingin the risks involved in Equity, Credit and Fixed income Derivatives. Mohamedhas also held positions as a derivatives structurer at Bear Stearns / JP Morgan Chase in London and Equity Structured Products Manager at First Gulf Bank in Dubai. His professional expertise spans the spectrum of topics in Exotic Options and Hybrids and he also brings to the table a vast network of contacts within these fields. Mohamed holds masters degrees in Financial Engineering and in Applied Mathematics. Adel Osseiran (London, UK) is a former front office structurer with Bear Stearns/JP Morgan where he was responsible for pricing complex trades within the equity and hybrids derivatives domain. Previously, he worked as a quantitative analyst at Bank of Tokyo Mitsubishi. He studied Appliedmathematics at Oxford, and holds a PhD in Financial Mathematics Imperial College.

• ISBN: 978-0-470-68803-8
• Editorial: John Wiley & Sons
• Encuadernacion: Cartoné
• Páginas: 392
• Fecha Publicación: 09/04/2010
• Nº Volúmenes: 1
• Idioma: Inglés