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Global derivative debaclesfrom theor...

Jacque, Laurent L.

Global derivative debaclesfrom theory to malpractice /

Record Type:	Electronic resources : Monograph/item
Title/Author:	Global derivative debaclesLaurent L. Jacque.
Reminder of title:	from theory to malpractice /
Author:	Jacque, Laurent L.
Published:	Singapore ;World Scientific Pub. Co.,c2010.
Description:	xxvii, 308 p. :ill.
Subject:	Derivative securities.
Online resource:	http://www.worldscientific.com/worldscibooks/10.1142/7141#t=toc
ISBN:	9789812837714 (electronic bk.)

Global derivative debaclesfrom theory to malpractice /
Jacque, Laurent L.

Global derivative debaclesfrom theory to malpractice /[electronic resource] :Laurent L. Jacque. - Singapore ;World Scientific Pub. Co.,c2010. - xxvii, 308 p. :ill.

Includes bibliographical references and index.

This book analyzes in depth all major derivatives debacles of the last half century including the multi-billion losses and/or bankruptcy of Metallgesellschaft (1994), Barings Bank (1995), Long Term Capital Management (1998), Amaranth (2006), Soci歋t歋 G歋n歋rale (2008) and AIG (2008). It unlocks the secrets of derivatives by telling the stories of institutions which played in the derivative market and lost big. For some of these unfortunate organizations it was daring but flawed financial engineering which brought them havoc. For others it was unbridled speculation perpetrated by rogue traders whose unchecked fraud brought their house down. Should derivatives be feared "as financial weapons of mass destruction" or hailed as financial innovations which through efficient risk transfer are truly adding to the Wealth of Nations? By presenting a factual analysis of how the malpractice of derivatives played havoc with derivative end-user and dealer institutions, a case is made for vigilance not only to market and counter-party risk but also operational risk in their use for risk management and proprietary trading. Clear and recurring lessons across the different stories call not only for tighter but also "smarter" control system of derivatives trading and should be of immediate interest to financial managers, bankers, traders, auditors and regulators who are directly or indirectly exposed to financial derivatives. The book groups cases by derivative category, starting with the simplest and building up to the most complex - namely, Forwards, Futures, Options and Swaps in that order, with applications in commodities, foreign exchange, stock indices and interest rates. Each chapter deals with one derivative debacle, providing a rigorous and comprehensive but non-technical elucidation of what happened.

Electronic reproduction.
Singapore :
World Scientific Publishing Co.,
2010.

System requirements: Adobe Acrobat Reader.

ISBN: 9789812837714 (electronic bk.)Subjects--Topical Terms:

200051
Derivative securities.

LC Class. No.: HG6024.A3 / J335 2010eb

Dewey Class. No.: 332.64/57

Global derivative debaclesfrom theory to malpractice /
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245 1 0 $a Global derivative debacles $h [electronic resource] : $b from theory to malpractice / $c Laurent L. Jacque.
260 $a Singapore ; $a Hackensack, N.J. : $b World Scientific Pub. Co., $c c2010.
300 $a xxvii, 308 p. : $b ill.
504 $a Includes bibliographical references and index.
520 $a This book analyzes in depth all major derivatives debacles of the last half century including the multi-billion losses and/or bankruptcy of Metallgesellschaft (1994), Barings Bank (1995), Long Term Capital Management (1998), Amaranth (2006), Soci歋t歋 G歋n歋rale (2008) and AIG (2008). It unlocks the secrets of derivatives by telling the stories of institutions which played in the derivative market and lost big. For some of these unfortunate organizations it was daring but flawed financial engineering which brought them havoc. For others it was unbridled speculation perpetrated by rogue traders whose unchecked fraud brought their house down. Should derivatives be feared "as financial weapons of mass destruction" or hailed as financial innovations which through efficient risk transfer are truly adding to the Wealth of Nations? By presenting a factual analysis of how the malpractice of derivatives played havoc with derivative end-user and dealer institutions, a case is made for vigilance not only to market and counter-party risk but also operational risk in their use for risk management and proprietary trading. Clear and recurring lessons across the different stories call not only for tighter but also "smarter" control system of derivatives trading and should be of immediate interest to financial managers, bankers, traders, auditors and regulators who are directly or indirectly exposed to financial derivatives. The book groups cases by derivative category, starting with the simplest and building up to the most complex - namely, Forwards, Futures, Options and Swaps in that order, with applications in commodities, foreign exchange, stock indices and interest rates. Each chapter deals with one derivative debacle, providing a rigorous and comprehensive but non-technical elucidation of what happened.
533 $a Electronic reproduction. $b Singapore : $c World Scientific Publishing Co., $d 2010. $n System requirements: Adobe Acrobat Reader. $n Mode of access: World Wide Web. $n Available to subscribing institutions.
650 0 $a Derivative securities. $3 200051
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