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.

Build essential foundations around the derivatives market for your future career in finance with the definitive guide on the subject. Options, Futures, and Other Derivatives, Global Edition, 11 th 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.

Autorentext

John Hull is the Maple Financial Professor of Derivatives and Risk Management at the Joseph L. Rotman School of Management, University of Toronto. He is an internationally recognized authority on derivatives and risk management with many publications in this area. His work has an applied focus. In 1999 he was voted Financial Engineer of the Year by the International Association of Financial Engineers. He has acted as consultant to many North American, Japanese, and European financial institutions. He has won many teaching awards, including University of Toronto’s prestigious Northrop Frye award.

Inhalt

1. 1. Introduction
2. 2. Futures markets and central counterparties
3. 3. Hedging strategies using futures
4. 4. Interest rates
5. 5. Determination of forward and futures prices
6. 6. Interest rate futures
7. 7. Swaps
8. 8. Securitization and the financial crisis of 2007-8
9. 9. XVAs
10. 10. Mechanics of options markets
11. 11. Properties of stock options
12. 12. Trading strategies involving options
13. 13. Binomial trees
14. 14. Wiener processes and Itô's lemma
15. 15. The BlackScholesMerton model
16. 16. Employee stock options
17. 17. Options on stock indices and currencies
18. 18. Futures options and Black's model
19. 19. The Greek letters
20. 20. Volatility smiles and Volatility Surfaces
21. 21. Basic numerical procedures
22. 22. Value at risk and expected shortfall
23. 23. Estimating volatilities and correlations
24. 24. Credit risk
25. 25. Credit derivatives
26. 26. Exotic options
27. 27. More on models and numerical procedures
28. 28. Martingales and measures
29. 29. Interest rate derivatives: The standard market models
30. 30. Convexity, timing, and quanto adjustments
31. 31. Equilibrium models of the short rate
32. 32. No-arbitrage models of the short rate
33. 33. Modeling Forward Rates
34. 34. Swaps Revisited
35. 35. Energy and commodity derivatives
36. 36. Real options
37. 37. Derivatives mishaps and what we can learn from them