In Commodity Derivatives: Markets and Applications, Neil Schofield provides a complete and accessible reference for anyone working in, or studying commodity markets and their associated derivatives. Dealing primarily with over the counter structures, the book provides extensive coverage of both hard and soft commodities, including gold, crude oil, electricity, plastics, emissions and agriculturals. Using structures unique to the individual market, each chapter includes an explanation of the commodity and an analysis of its physical market, discussion on the typical patterns of demand and supply and the main factors that will influence the price of the commodity, and the main products. Each chapter focuses on how the products could be used along the physical supply chain and seeks to identify the main market risks and how they can be hedged. The book then brings into perspective how the structuring banks hedge their own resultant exposure and examines the attraction of OTC investment structures for the wholesale market. Commodity Derivatives: Markets and Applications is essential reading for those wishing to learn about the main features of the commodity markets, the mechanics of derivatives, and how they are applied.
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From the Inside Flap
"This is a timely book, written with great clarity, and full of valuable insights. It will be essential reading for experienced professionals and for newcomers to commodity derivatives alike." — Andrew Chisholm, Consultant and Author "Neil′s book is quite timely as the number of institutions gearing up their commodities trading capabilities continues to grow. As he rightly points out, good research is hard to come by in the vast world of commodities. Neil has done a brilliant job in organizing the book and laying out the foundations of the different markets, as well as tackling the more advanced concepts. His years of experience as a trainer, has prepared him to explain the most simple, to the most complex topics. He has clearly been able to make the transition from trainer to author. The commodities world can seem arcane but Neil has ′cracked′ this unique asset class with a final product that all participants will be able to use." — Ken Kapner, President and CEO Global, Financial Market Institute Inc.
From the Back Cover
In Commodity Derivatives: Markets and Applications , Neil Schofield provides a complete and accessible reference for anyone working in, or studying commodity markets and their associated derivatives. Dealing primarily with over the counter structures, the book provides extensive coverage of both hard and soft commodities, including gold, crude oil, electricity, plastics, emissions and agriculturals. Using structures unique to the individual market, each chapter includes an explanation of the commodity and an analysis of its physical market, discussion on the typical patterns of demand and supply and the main factors that will influence the price of the commodity, and the main products. Each chapter focuses on how the products could be used along the physical supply chain and seeks to identify the main market risks and how they can be hedged. The book then brings into perspective how the structuring banks hedge their own resultant exposure and examines the attraction of OTC investment structures for the wholesale market. Commodity Derivatives: Markets and Applications is essential reading for those wishing to learn about the main features of the commodity markets, the mechanics of derivatives, and how they are applied.
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5 of 6 people found the following review helpful
Format:Hardcover
If you have a very basic or general understanding of Commodities markets then this book can help you take things futher. It's a broad yet comprehensive overview of the major commodities markets (power, gas, oil, coal, metals, emissions, plastics, agri) and has a couple of initial chapters covering general instruments and risk management.
For each market this book provides an excellent summary of the history and emergence of that market. It covers the science to more complex markets, the break down of product types/quality you'd expect to find within each market, what the price drivers are, the nature of how some commodities are delivered and scheduled, which are the major exchanges and players, and which instruments and derivatives are mainly traded on each commodity. Basically, depending which commodity/chapter you are reading, the details provided are different but completely relevant.
This book will by no means allow you to become an expert but it will give you an invaluable starting point to understanding a commodity. I'm a software developer and can recommend this to other devs trying to understand a particular market that is new to them. For those with a financial background trying to break into commodities I would also recommend this book although the finer details might be a little too much information.
For each market this book provides an excellent summary of the history and emergence of that market. It covers the science to more complex markets, the break down of product types/quality you'd expect to find within each market, what the price drivers are, the nature of how some commodities are delivered and scheduled, which are the major exchanges and players, and which instruments and derivatives are mainly traded on each commodity. Basically, depending which commodity/chapter you are reading, the details provided are different but completely relevant.
This book will by no means allow you to become an expert but it will give you an invaluable starting point to understanding a commodity. I'm a software developer and can recommend this to other devs trying to understand a particular market that is new to them. For those with a financial background trying to break into commodities I would also recommend this book although the finer details might be a little too much information.
Most Helpful Customer Reviews on Amazon.com (beta)
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4.0 out of 5 stars
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8 of 8 people found the following review helpful
4.0 out of 5 stars
Good Intro to Commodity Derivatives
10 Mar 2008
By V. Ghazarian
- Published on Amazon.com
Format:Hardcover|Amazon Verified Purchase
This book is a nice overview of over-the-counter traded products in the Energy and Commodity markets. This book is organized like a Wall St primer, it starts with the overview of the particular market fundamentals and then gives examples of some derivatives related to the specific market. Unlike most books on derivatives this book is not very quantitative, but provides a good intro to the growing world of Energy and Commodity derivatives.
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