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The Trade Lifecycle: Behind the Scenes of the Trading Process (The Wiley Finance Series)

The Trade Lifecycle: Behind the Scenes of the Trading Process (The Wiley Finance Series) [Kindle Edition]

Robert P. Baker
4.7 out of 5 stars  See all reviews (11 customer reviews)

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Product Description

Product Description

Every person working in an investment bank or hedge fund has a large part of his work connected to the lifecycle of a trade. It is the glue by which all the departments are bound and the aggregated success or failure of each trade determines the survival and growth of the entire organization. Trading has evolved from a humble apple grower wanting a stable price for his produce come harvest time, to a complex and exciting industry comprising a significant share of the global economy, and more recently, taking a hand in saving it. It is the fundamental activity of investment banks, hedge funds, pension funds and many other financial companies. There is no better way to understanding the workings of a financial institution than to follow the progress of a trade through all of its various stages and all the activities performed upon it.

In the aftermath of the financial crisis, the financial world has changed, with less emphasis on trading and entrepreneurial activity and more on risk management, regulation and auditing. In this new world order, there will be a much greater analysis of every trade, and all market participants will need to have a much better understanding of the impact of their work on the whole trade cycle.

This book will dissect a trade into its component parts, track it from pre-conception to maturity and how the trade effects each business function of a financial institution. As well as illustrating each part of the trade process, it will highlight the legal, operational, liquidity, credit and market risks to which the trade is exposed. Readers will benefit from a full understanding of all parts of the trade process, including derivative and credit derivative trades, and will also see, with examples where appropriate, how the mismanagement of these risks led to today's financial crisis.

From the Inside Flap

The Trade lifecycle “ The practical experience and accumulated knowledge of an IT professional in the finance and banking world makes this book valuable and extremely useful reading. Clear, comprehensive and well written – the book is particularly relevant in the post credit crunch world where transparency and due diligence have come to the fore. I highly recommend this book to anyone involved in the development an implementation of systems in finance and trading.” – Geoff Chaplin, partner in Reoch Credit Partners LLP “This is a well thought out introduction to how the trading process works in investment banking. An excellent resource to dip in to for those new to investment banking, with up to date examples of each stage of the trade lifecycle, and particularly good coverage on all aspects of risk management and model validation, processes and the development of trade systems.” – Heather–Anne Hubbell, Managing Consultant, Deputy Head, Risk Practice, Rule Financial “The trade lifecycle is at the heart of the operation of all investment institutions. Robert Baker’s book The Trade Lifecycle: Behind the Scenes of the Trading Process shed light on this important subject, which is often little understood even by those who depend on it. Robert presents a very clear, easy to read, yet comprehensive review starting with an introduction to financial products and the background of trading, progressing to advanced subjects like regulatory, legal, and compliance issues. I thoroughly recommend Robert’s book to everyone who needs a clear and comprehensive introduction to this subject including operations staff, risk managers, traders, regulators, and consultants.” – Rohan Douglas, Founder and CEO, Quantifi

Product details

  • Format: Kindle Edition
  • File Size: 1295 KB
  • Print Length: 321 pages
  • Page Numbers Source ISBN: 0470685913
  • Publisher: Wiley; 1 edition (11 May 2010)
  • Sold by: Amazon Media EU S.à r.l.
  • Language: English
  • ASIN: B003M69W3A
  • Text-to-Speech: Enabled
  • X-Ray:
  • Average Customer Review: 4.7 out of 5 stars  See all reviews (11 customer reviews)
  • Amazon Bestsellers Rank: #43,516 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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More About the Author

Robert Baker has spent over 20 years in the financial services industry. He has worked at major investment banks such as Barclays Capital, ABN Amro, UBS Warburg, NatWest Markets and Rabobank as well as the hedge fund Solent Capital. He has developed risk management and valuation systems across most asset classes specialising in credit derivatives.

Holding positions as head of technology, project manager, business analyst and programmer he has used his experience of software development together with knowledge of financial products and the way investment banks operate to successfully interface between all business functions to ensure accurate gathering and delivery of requirements.

In recent years Robert has moved into training and consultancy, presenting public and in-house courses explaining the world of capital markets and helping a range of companies in the financial sector to maximise their use of IT.

He holds an MA in mathematics from Oxford University.

Customer Reviews

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4.7 out of 5 stars
4.7 out of 5 stars
Most Helpful Customer Reviews
10 of 10 people found the following review helpful
5.0 out of 5 stars The Trade Lifecycle - Robert Baker 31 Jan 2011
By Chris D
Having worked with Robert in the past I purchased this book more as an act of solidarity than because I felt it would have any real relevance for me but I couldn't have been more wrong.

After contracting in investment banking for my entire career, latterly as a senior software developer, I had always struggled with the fact that I was offered little guidance as to the instruments with which I was expected to work and the processes with which my work integrated; after reading Robert's book I can safely say my accumulated experience of 14 years in finance has finally been given a voice.

Robert has managed to condense a lifetime of expertise and study into an eminently readable introduction into the frequently oblique world of investment banking as viewed from the perspective of an individual trade; from asset class descriptions in layman's terms to discussions of the Greeks to an all-encompassing perspective on the multitude of potential risks engendered in a trading environment this book has provided me with a perspective that all my years in banking singularly failed to do.

Although of less relevance to me as it covered ground with which I was already comfortable I have to also mention the chapters on IT and system development which should be required reading for any Luddite business types who harbour the illusion that code writes itself.

Highly recommended.
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19 of 20 people found the following review helpful
5.0 out of 5 stars Excellent 28 Sep 2010
By Anthony
I found this book to be excellent. It is straight forward, precise & concise. A good reference book for a begginner & more experienced.

I have over 15 years of I.T. development in Java, Oracle ( within retail banking, media) but I have always wanted to go into the investment trading sector. But there were so many things I needed to learn which got me discouraged.

I had bought so many books, some were bulky with so many pages, i didnt finish most of them. Usually halfway, im lost.

Then i came across this book. I read sample chapters & wanted more. So i bought it.
I wanted a book that would just go into the basic & the detail of what i needed to know to forge ahead in my career.

Im not just writing this & amazon can check my account & confirm this is the first time im writing a review. And
I had bought around two hundred books from this website.

It is a great book & I found it very easy to digest. Definitely one of the best books i had bought.
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3 of 3 people found the following review helpful
5.0 out of 5 stars Great Book 10 Oct 2012
By Mary J
Format:Hardcover|Verified Purchase
This is the first time EVER I am writting a review (frankly for any product). I am simply too lazy to bother. However, I felt compelled to write one on this book. I am an IT person who has been working in Investment Bank for over 14 years, and have picked up financial knowledge along the way. I bought this book just to read in preparation for a job interview. I have to say it is the best value for money book I have ever bought, and I could start a library with the amount of books I have purchased over time. It literally covers everything about trade lifecycle. Not only does it do this, it covers it in a very clear, easy to follow way. I find myself reading the book, almost as a novel, as opposed to being a text book. This really is a great book for anyone who wants an overview of Trade lifecycle. It is a steal for the price.
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2 of 2 people found the following review helpful
5.0 out of 5 stars A fantastic read 21 Aug 2013
Format:Kindle Edition|Verified Purchase
A well written step by step inside of the investment banking world.
Once you start reading this book you will have a
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2 of 2 people found the following review helpful
5.0 out of 5 stars must read for all new to derivatives trading 5 April 2013
Format:Kindle Edition|Verified Purchase
A unique book comprising the essential knowledge for derivatives trading and post-trade processing. A must read for everyone new to the area, especially within operations and technology.
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7 of 8 people found the following review helpful
5.0 out of 5 stars Clear, Concise and Informative 11 Oct 2010
I've been in Front Office / Trading since 1993 and this is one of the best books I've read on trade lifecycle. It has been useful in getting a broader view of trade flow not only from FO but all the way through to BO and reporting etc.

There's a good cross-section re: products and trade types and it's well paced and not overly long like some reference type books are.

This is a real-work book for real people working in the industry.
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Popular Highlights

 (What's this?)
Hedge funds are like the consumers in the financial industry and therefore known as being on the “buy side”. &quote;
Highlighted by 11 Kindle users
A trade is live between the time of execution and the time of maturity. &quote;
Highlighted by 8 Kindle users
Settlement is the process by which the counterparties to a trade fulfil their obligations to exchange. &quote;
Highlighted by 8 Kindle users

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