Practical Derivatives
A Transactional Approach
By: Edmund Parker, Marcin Perzanowski
About This Book
Since the near-collapse of the global financial system back in 2008, the derivatives industry has come a long way. As derivatives were blamed for causing, or contributing to, the crisis, the politicians and regulators on both side of the Atlantic (and in most other developed jurisdictions) decided to take action. In September 2009 the G20 leaders at their meeting in Pittsburg resolved the following: "All standardised OTC derivative contracts should be traded on exchanges or electronic trading platforms, where appropriate, and cleared through central counterparties by the end of 2012 at the latest." Even though it is now 2016, the regulators continue to work on the detailed rules, which still won't be fully implemented for a while. Nonetheless, the derivatives markets have already changed almost beyond recognition, and continue to evolve.Featuring updated chapters, this third edition of Practical Derivatives: A Transactional Approach shows how derivatives are used in a variety of transactions, how the documentation works, and why boards need to be aware of the derivatives market. It also analyses the impact of the recent regulatory changes on derivatives transactions and related documentation. With contributions from leading law firms, investment firms and academics, this accessible book takes a transactional approach and features coverage of product innovations.This latest edition includes chapters on established markets such as equity and energy derivatives, but it also discusses the expansion of derivatives into new markets such as credit risk, weather risk and property. It features topical analysis on corporate governance and directors' duties; it includes an overview of the documentation produced by the International Swaps and Derivatives Association, the International Capital Markets Association and the German banking association; and it discusses related issues such as close-out netting. This edition would not be complete without an analysis of the recent derivatives regulation, and the transactional documentation that helps to implement the new rules.Whether you are at a bank or financial institution or from a company or organisation looking to invest or manage your risk, this title will provide you with practical tools for using derivatives in your business.
AI Overview
Book Overview: "Practical Derivatives: A Transactional Approach, Fourth Edition" is a comprehensive guide to derivatives, written by Edmund Parker and Marcin Perzanowski, with contributions from leading law firms, investment firms, and academics. Here is a detailed overview of the book:
Key Themes
Derivatives in Practical Context:
- The book delves into the practical usage of derivatives, providing insights into how they are employed in real-world financial transactions.
Latest Trends and Developments:
- It covers the latest trends in derivatives, including the rise of derivatives referencing cryptocurrencies and other digital assets, as well as the emerging regulatory frameworks on both sides of the Atlantic.
Regulatory Framework:
- The book discusses the completion of the regulatory framework for cleared and OTC derivatives, ensuring that readers have a robust understanding of the regulatory landscape.
ESG Criteria in Derivatives:
- It explores the slow but steady move towards assets meeting Environmental, Social, and Governance (ESG) criteria in the area of derivatives and structured products.
Non-English/New York Law Derivatives Documentation:
- The book addresses the development of non-English/New York law derivatives documentation, providing insights into international legal frameworks.
Securities Finance World:
- It covers the emergence of new structures in the securities finance world, offering a comprehensive view of the evolving landscape.
Plot Summary
The book is structured to provide a transactional approach to derivatives, focusing on practical application rather than theoretical concepts. It includes updated chapters that explain how derivatives are used in real-world transactions, how documentation works, and potential pitfalls to avoid. The content is designed to be accessible to a wide range of readers, from professionals in the financial industry to academics and students looking to understand the complexities of derivatives.
Critical Reception
While specific critical reviews are not provided in the search results, the book's comprehensive coverage of the latest trends and developments in derivatives suggests that it would be highly regarded by professionals and academics in the field. The involvement of leading law firms, investment firms, and academics adds credibility to the book's content, making it a valuable resource for those seeking a robust understanding of derivatives.
Publication Details
- Publication Date: January 2023
- Format: Hardback
- Pages: 728
- Price: £265.00
- ISBN: 9781787428423
Overall, "Practical Derivatives: A Transactional Approach, Fourth Edition" is a definitive guide to the complex world of derivatives, offering a practical and comprehensive approach that is essential for anyone looking to navigate the intricacies of this critical financial instrument.