46. Options, Futures and Other Derivatives Ch7: Swaps Pt1
 Howard Corb eBooks [Interest Rate Swaps, Derivatives, Options, Structured Not]
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By Jesal Shethna 4 Comments. Risk Management Basics. Top Best Derivatives Books — Derivatives are essentially financial instruments whose value depends on underlying assets such as stocks, bonds and other forms of traditional securities. There are various forms of derivative instruments which are widely used for trading, hedging with a view to risk management and speculation which essentially involves betting on the future price of an asset. Forwards, futures , swaps and options are some of the basic types of derivatives traded in the markets. However, derivatives remain a relatively little-understood area due to the complex nature of concepts and the mathematics involved.
The interest rate swaps market has experienced tremendous growth since what is commonly regarded as the rst swap was executed in In that year Salomon Brothers intermediated a cross-currency swap between the World Bank and IBM in a transaction that at the time was unique and provided considerable advantage to both counterparties. The growth in the market since then manifests itself not only in the vast increase in the notional outstanding of interest rate swaps but also in the varied users and uses of swaps. The purpose of this chapter is to provide a broad overview of the swaps market. We will focus on products and conventions in the market.
The first swap was executed over thirty years ago. Since then,the interest rate swaps and other derivative markets have grown anddiversified in Howard Corb .
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