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The Front Office Manual: The Definitive Guide to Trading, Structuring and Sales (Global Financial Markets)

The Front Office Manual: The Definitive Guide to Trading, Structuring and Sales (Global Financial Markets) [Kindle Edition]

Andrew Sutherland , Jason Court
5.0 out of 5 stars  See all reviews (4 customer reviews)

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Product Description

Product Description

Can you describe the rules for settling foreign exchange in Jordan? What is strange about the Australian swap market? What are IMM dates, and why do credit derivatives abuse them?

Financial markets are exceedingly complex, often to their own detriment. The building blocks of finance are quite simple, however. Complexity arises when these building blocks are traded, combined, and modeled using a myriad of conventions, and using market knowledge which is obscure and hard for outsiders to discover.

The Front Office Manual is a practical introduction to the front office, guiding readers through the functions and financial instruments commonly encountered in an investment banking business and importantly, how they work and are implemented in practice. The book begins with a guided tour of the front office, and of how a trade, the life-blood of all investment banks, actually works from inception, through its mid life-cycle events through to termination. The book also introduces the various market participants – investors, hedge funds, banks and asset managers to name but a few – with whom the front office interacts. Finally, the book describes the wide range of financial products used in trading and structuring, providing detail on the products themselves and the techniques needed to produce prices, estimate risk, and produce meaningful analysis.

Throughout the book, the focus is on practical implementation, and 'how things are actually done in a banking environment', making this an invaluable working manual for newcomers to the industry, and those looking to move from a middle or back office function, or a different part of the financial community, to the investment banking front office.

Book Description

The Front Office Manual gives a detailed introduction to the practical skills required to work with the products sold in a modern investment bank.

Product details

  • Format: Kindle Edition
  • File Size: 3991 KB
  • Print Length: 320 pages
  • Publisher: Palgrave Macmillan (25 Nov 2013)
  • Sold by: Amazon Media EU S.à r.l.
  • Language: English
  • ASIN: B00GR41IMW
  • Text-to-Speech: Enabled
  • X-Ray:
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (4 customer reviews)
  • Amazon Bestsellers Rank: #120,454 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Most Helpful Customer Reviews
2 of 2 people found the following review helpful
5.0 out of 5 stars Gold dust for understanding the front office 17 Dec 2013
Format:Hardcover|Verified Purchase
I don't normally write reviews, but I felt I had to. For anyone working in, or with, an investment bank front office, this book is like gold dust. I wish it had been around years ago when I started working as a front-office software developer.

The book essentially takes the reader from zero knowledge to geek-levels of knowledge about the financial mechanics and jargon of a front office. Vitally, it explains the 'why' as well as the 'what'. The clear explanations of the context are what makes this book so different and so valuable.

If you are new to the front-office, this book will save you months of time getting up to speed. If you are an old-hand, I reckon you'll still have plenty of "aha" moments. Highly recommended.
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1 of 1 people found the following review helpful
5.0 out of 5 stars front office manual 16 Dec 2013
the books gives comprehensive and very practical information about numerous instruments used in investment banking these days. As someone working in eFX, I found chapters dedicated to currencies particulary interesting - not just basics, but also very detailed explanation how for example forward contracts are priced from interest rates products. This is not kind of information you can easily find - usally hidden deep into quant libraries. The book is easy to navigate, so basically this is now my first option when I need to clarify something about a financial instrument or refresh my knowlede in some area.
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5.0 out of 5 stars Approachable and informative 26 Feb 2014
This is the perfect hands-on guide for any starting to work (or working!) in an investment bank.

The first chapter explains the stucture of a bank i.e the different areas and their functions. I think they do a great job of explaining such a complicated business so simply.

They go through yield curve creation. But updated for post GFC markets and in alot more approachable way than I have seen it explained in the past. You really get a good idea about how all markets have had to change over the last few years.

I think Credit Default Swaps and FX Options are handled particulary well.

A lot of books on FX Options just cover the same ground i.e vanilla options and black-scholes pricing. In this book they dive into the process of making a real model and the compromises that must be made!

Overall, I like the friendly approachable style of the book and think it will be a handy reference.
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5.0 out of 5 stars Insightful and practical 14 Feb 2014
An indispensable handbook for anyone who wants to learn about derivatives, especially for someone new to investment banking or in support roles.

This book contains a fair amount of practical information (that other books rarely do) which gives a a deeper insight into the products both from a pricing perspective and the life cycle of actual trades. I found the detailed examples explaining the intuition behind these products, their risk profiles and why end-users actually trade them very helpful.
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Most Helpful Customer Reviews on (beta) 4.0 out of 5 stars  1 review
4.0 out of 5 stars Good primer on FO setup 27 Jan 2014
By Henrik Rasmussen - Published on
This book is a well-written primer on the day-to-day issues on the trading floor. Between the more mathematical books on derivatives pricing on the one hand, and the more economics-focused literature on the other hand, it also helps fill a gap in the market. The reason for the four instead of five stars is that although the authors cover a lot of ground, the chapters are not always long enough to do justice to the subjects. Nevertheless, this is definitely worth a read for anybody starting out in the industry.
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