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Informationen zum Autor About the author ANDREW M. CHISHOLM has designed, developed and taught programmes in derivatives and finance since 1984. In that time he has worked with many of the largest financial institutions around the world, teaching corporate financiers, traders, sales and marketing staff, risk managers, analysts, fund managers, operations and technology professionals. He has worked extensively on seminars at senior management level as well as training programmes designed to introduce new graduate and MBA entrants to the securities industry. He was formerly Head of Professional Development for Europe at JP Morgan and is author of Derivatives Demystified published by John Wiley and Sons in 2004. Klappentext Fully revised and updated from the hugely popular first edition, this book is an accessible and convenient one-volume introduction to international capital markets, ideal for those entering or planning to enter investment banking or asset management. As well as serving as an invaluable reference tool for professionals already working in the industry looking to extend their knowledge base it will also benefit all those working in trading, sales and support roles.Describing how the key products and markets work, who the principle participants are and their overall goals and objectives, Andrew Chisholm provides a thorough overview of the global capital markets. The book covers a wide range of equity, debt, foreign exchange and credit instruments as well as the principal derivative products. In a step-by-step fashion, making extensive use of real world cases and examples, it explains money markets, foreign exchange, bond markets, cash equity markets, equity valuation techniques, swaps, forwards, futures, credit derivatives, options, option risk management and convertible bonds. An extensive glossary also explains concisely many of the 'jargon' expressions used in the financial markets.Boasting an international focus, examples are drawn from major international markets around the world. It makes extensive use of numerical examples and case studies to help explain a wide range of cash and derivative products used in the capital markets business. It covers both debt and equity products and includes new material on credit products such as collateralized debt obligations and credit derivative structures; equity fundamental analysis, portfolio theory and convertible bonds. Market data has been fully updated from the first edition and recent events such as the 'credit crisis' are discussed. Zusammenfassung A convenient all-in-one introduction to the capital markets This introductory guide to the capital markets offers deep and focused detail on the workings of the markets. It is accessible and comprehensive and ideal for those entering or already working in investment banking or asset management. Inhaltsverzeichnis Acknowledgements xv 1 Introduction: The Market Context 1 1.1 Capital and the Capital Markets 1 1.2 The Euromarkets (International Capital Markets) 4 1.3 Modern Investment Banking 5 1.4 The Clients of Investment Banks 8 1.5 About this Book 11 2 The Money Markets 15 2.1 Chapter Overview 15 2.2 Domestic Money Markets 15 2.3 US Domestic Markets 16 2.4 The European Central Bank (ECB) 18 2.5 Sterling Money Markets 19 2.6 The Bank of Japan 20 2.7 Systemic Risks and Moral Hazards 20 2.8 Treasury Bills 21 2.9 Discounting Treasury Bills 21 2.10 US Commercial Paper 24 2.11 Credit Risk on USCP 25 2.12 Bankers' Acceptances 26 2.13 The Eurocurrency Markets 26 2.14 Eurocurrency Loans and Deposits 27 2.15 Eurocurrency Interest and Day-Count 29 2.16 Eurocurrency Certificates of Deposit 30 2.17 CD Yield-to-Maturity 31 2.18 Euro-Commercial Paper 31 2.19 Repos and Rever...
