Mastering SWAPS Markets: A Step-by-Step guide to the Products, Applications, and Risks (The Mastering Series) - Softcover

Swaps are an integral part of the world of international finance. Their use has permeated almost every aspect of domestic and international capital and money markets. Yet, to many potential users, they remain an arcane derivatives risk management tool. Mastering Swaps Markets traces the development of swaps from the 1970s until today, examining both the obstacles to their growth and the hurdles which were jumped in order to ensure their survival. The book shows how swaps are used, and by whom, and examines the motives of, and benefits to, the counterparties in these transactions. Numerous case studies and exercises encourage an understanding of the practical application of swaps as well as the mathematics used in the marketplace. Whether you are a trader, broker, risk manager, auditor, accountant, investor, salesperson or market student, this book will give you the ability to manipulate and apply, with speed and confidence, the techniques relevant to your marketplace.

ALAN MCDOUGALL is a consultant and trainer in international finance, specializing in the relationship between the swaps, foreign exchange and bond markets.

He joined Kleinwort Benson as a credit analyst, focusing on Asian credits, before being offered the opportunity to train as a foreign exchange and money market trader, working in both the forward and depo markets. He became the senior consultant at HSBC's International Treasury Management Group where he worked with multinational corporations in the management of their currency and interest rate risk exposures, which often included the use of swap transactions.

Alan subsequently ran the swaps and capital markets arbitrage group at Nikko Europe and was Vice President Illiquid bond trading at Scotia Capital Markets before becoming a full-time researcher, consultant and trainer. He ran his first training session over twenty years ago and combined his experience of trading and sales with his enthusiasm for teaching and consulting throughout his career.