Produktdetaljer
Biografisk notat
John Hull is the Maple Financial Professor of Derivatives and Risk Management at the Joseph L. Rotman School of Management, University of Toronto (UofT). In 2016, he was awarded the title of University Professor (an honour granted to only 2% of faculty at UofT). He has acted as a consultant to many financial institutions around the world and has won many teaching awards, including UofT's prestigious Northrop Frye Award.
He is an internationally recognised authority on Derivatives and Risk Management and has many publications in this area. His work has an applied focus, with his research and teaching activities including risk management, regulation and machine learning, as well as derivatives. He is co-director of Rotman's Master in Finance and Master in Financial Risk Management Programs.
Options, Futures, and Other Derivatives, Global Edition, 11th edition by John Hull, is the industry-leading, gold standard text for business and economics professionals.
Ideal for students studying Business, Economics, and Financial Engineering and Mathematics, this edition gives you a modern look at the derivatives market by incorporating the industry's hottest topics, such as securitisation and credit crisis, bridging the gap between theory and practice.
Written with the knowledge of how Maths can be a key challenge for this course, the text adopts a simple language that makes learning approachable, providing a clear explanation of ideas throughout the text.
The latest edition covers the most recent regulations and trends, including the Black-Scholes-Merton formulas, overnight indexed swaps, and the valuation of commodity derivatives.
Key features include:
- Tables, charts, examples, and market data discussions, reflecting current market conditions.
- A delicate balance between theory and practice with the use of mathematics, adding numerical examples for added clarity.
- Useful practice-focused resources to help students overcome learning obstacles.
- End-of-chapter problems reflecting contemporary key ideas to support your understanding of the topics based on the new reference rates.
Whether you need an introductory guide to derivatives to support your existing knowledge in algebra and probability distributions, or useful study content to advance your understanding of stochastic processes, this must-have textbook will support your learning and understanding from theory to practice.
Support your students’ growth of essential skills around the derivatives market with the ultimate guide in the field. Options, Futures, and Other Derivatives, Global Edition, is a market-leading text ideal to support both introductory and more advanced teaching with a modern look at the subject, incorporating recent regulations and trends.
- 1. Introduction
- 2. Futures markets and central counterparties
- 3. Hedging strategies using futures
- 4. Interest rates
- 5. Determination of forward and futures prices
- 6. Interest rate futures
- 7. Swaps
- 8. Securitization and the financial crisis of 2007-8
- 9. XVAs
- 10. Mechanics of options markets
- 11. Properties of stock options
- 12. Trading strategies involving options
- 13. Binomial trees
- 14. Wiener processes and Itô's lemma
- 15. The Black–Scholes–Merton model
- 16. Employee stock options
- 17. Options on stock indices and currencies
- 18. Futures options and Black's model
- 19. The Greek letters
- 20. Volatility smiles and Volatility Surfaces
- 21. Basic numerical procedures
- 22. Value at risk and expected shortfall
- 23. Estimating volatilities and correlations
- 24. Credit risk
- 25. Credit derivatives
- 26. Exotic options
- 27. More on models and numerical procedures
- 28. Martingales and measures
- 29. Interest rate derivatives: The standard market models
- 30. Convexity, timing, and quanto adjustments
- 31. Equilibrium models of the short rate
- 32. No-arbitrage models of the short rate
- 33. Modeling Forward Rates
- 34. Swaps Revisited
- 35. Energy and commodity derivatives
- 36. Real options
- 37. Derivatives mishaps and what we can learn from them
Approachable content, offering your students the latest trends in the derivatives market from theory to practice.
- The text's modern methods incorporate the industry's hottest topics, bridging the gap between theory and practice.
- The book follows an applied approach to the subject, always managing to stay up to date throughout its course of past editions.
Comprehensive and consistent content material with a clear layout supports your students' understanding of key ideas.
- With blending material that includes both introductory and more advanced content, the text is appropriate both for university courses and practitioners.
- Tables, charts, examples, and market data discussions reflect current market conditions.
- Nonessential mathematical material has been eliminated or included in the end-of-chapter appendices on the author’s website.
- Concepts likely to be new to many readers have now carefully been explained.
- UPDATED - Numerical examples have been included for added clarity.
- UPDATED - End-of-chapter problems help students determine whether or not they understand key ideas. Problems previously based on LIBOR, have been replaced by examples based on new reference rates.
- Accompanying DerivaGem software helps students get comfortable with the models in the text, including an Options Calculator and Applications Builder.
- Tables, charts, examples, and market data discussions have all been revisited to reflect current market conditions, including:
- NEW - Overnight reference rates that will replace LIBOR at the end of 2021 and their impact on valuation models.
- NEW - Rough volatility models have been found to fit volatility surfaces in the last few years (Chapter 27).
- NEW - Machine learning in the pricing and hedging of derivatives.
- NEW - The fractional Brownian motion in the discussion on Wiener processes.
- NEW - Changes in the regulatory environment, including Basel IV.
Produktdetaljer
Biografisk notat
John Hull is the Maple Financial Professor of Derivatives and Risk Management at the Joseph L. Rotman School of Management, University of Toronto (UofT). In 2016, he was awarded the title of University Professor (an honour granted to only 2% of faculty at UofT). He has acted as a consultant to many financial institutions around the world and has won many teaching awards, including UofT's prestigious Northrop Frye Award.
He is an internationally recognised authority on Derivatives and Risk Management and has many publications in this area. His work has an applied focus, with his research and teaching activities including risk management, regulation and machine learning, as well as derivatives. He is co-director of Rotman's Master in Finance and Master in Financial Risk Management Programs.