Search Results: financial-products-an-introduction-using-mathematics-and-excel

Financial Products

An Introduction Using Mathematics and Excel

Author: Bill Dalton

Publisher: Cambridge University Press

ISBN: 9781139474054

Category: Business & Economics

Page: 408

View: 9224

Financial Products provides a step-by-step guide to some of the most important ideas in financial mathematics. It describes and explains interest rates, discounting, arbitrage, risk neutral probabilities, forward contracts, futures, bonds, FRA and swaps. It shows how to construct both elementary and complex (Libor) zero curves. Options are described, illustrated and then priced using the Black Scholes formula and binomial trees. Finally, there is a chapter describing default probabilities, credit ratings and credit derivatives (CDS, TRS, CSO and CDO). An important feature of the book is that it explains this range of concepts and techniques in a way that can be understood by those with only a basic understanding of algebra. Many of the calculations are illustrated using Excel spreadsheets, as are some of the more complex algebraic processes. This accessible approach makes it an ideal introduction to financial products for undergraduates and those studying for professional financial qualifications.

Quantitative Finance

A Simulation-Based Introduction Using Excel

Author: Matt Davison

Publisher: CRC Press

ISBN: 1498782663

Category: Business & Economics

Page: 532

View: 327

Teach Your Students How to Become Successful Working Quants Quantitative Finance: A Simulation-Based Introduction Using Excel provides an introduction to financial mathematics for students in applied mathematics, financial engineering, actuarial science, and business administration. The text not only enables students to practice with the basic techniques of financial mathematics, but it also helps them gain significant intuition about what the techniques mean, how they work, and what happens when they stop working. After introducing risk, return, decision making under uncertainty, and traditional discounted cash flow project analysis, the book covers mortgages, bonds, and annuities using a blend of Excel simulation and difference equation or algebraic formalism. It then looks at how interest rate markets work and how to model bond prices before addressing mean variance portfolio optimization, the capital asset pricing model, options, and value at risk (VaR). The author next focuses on binomial model tools for pricing options and the analysis of discrete random walks. He also introduces stochastic calculus in a nonrigorous way and explains how to simulate geometric Brownian motion. The text proceeds to thoroughly discuss options pricing, mostly in continuous time. It concludes with chapters on stochastic models of the yield curve and incomplete markets using simple discrete models. Accessible to students with a relatively modest level of mathematical background, this book will guide your students in becoming successful quants. It uses both hand calculations and Excel spreadsheets to analyze plenty of examples from simple bond portfolios. The spreadsheets are available on the book’s CRC Press web page.

(K)ein Gespür für Zahlen

So bekommt man den Durchblick in Mathe

Author: Barbara Oakley

Publisher: MVG Verlag

ISBN: 3864157811

Category: Mathematics

Page: 352

View: 9418

Mathematik versteht man oder eben nicht. Der eine ist dafür natürlich begabt, dem anderen bleibt dieses Fach für immer ein Rätsel. Stimmt nicht, sagt nun Barbara Oakley und zeigt mit ihrem Buch, dass wirklich jeder ein Gespür für Zahlen hat. Mathematik braucht nämlich nicht nur analytisches Denken, sondern auch den kreativen Geist. Denn noch mehr als um Formeln geht es um die Freiheit, einen der vielen möglichen Lösungsansätze zu finden. Der Weg ist das Ziel. Und wie man zum richtigen Ergebnis kommt, ist eine Kunst, die man entwickeln, entdecken und in sich wecken kann. Die Autorin vermittelt eine Vielfalt an Techniken und Werkzeugen, die das Verständnis von Mathematik und Naturwissenschaft grundlegend verbessern. (K)ein Gespür für Zahlen nimmt Ihnen — vor allem wenn Sie sich in Schule, Uni oder Beruf mathematisch oder naturwissenschaftlich beweisen müssen — nicht nur die Grundangst, sondern stärkt Ihren Mut, Ihren mathematischen Fähigkeiten zu vertrauen. So macht Mathe Spaß!

Computational Finance

Numerical Methods for Pricing Financial Instruments

Author: George Levy

Publisher: Elsevier

ISBN: 0080472273

Category: Computers

Page: 456

View: 7438

Computational Finance presents a modern computational approach to mathematical finance within the Windows environment, and contains financial algorithms, mathematical proofs and computer code in C/C++. The author illustrates how numeric components can be developed which allow financial routines to be easily called by the complete range of Windows applications, such as Excel, Borland Delphi, Visual Basic and Visual C++. These components permit software developers to call mathematical finance functions more easily than in corresponding packages. Although these packages may offer the advantage of interactive interfaces, it is not easy or computationally efficient to call them programmatically as a component of a larger system. The components are therefore well suited to software developers who want to include finance routines into a new application. Typical readers are expected to have a knowledge of calculus, differential equations, statistics, Microsoft Excel, Visual Basic, C++ and HTML. Enables reader to incorporate advanced financial modelling techniques in Windows compatible software Aids the development of bespoke software solutions covering GARCH volatility modelling, derivative pricing with Partial Differential Equations, VAR, bond and stock options

Business Math Using Excel

Author: Sharon Burton,Nelda Shelton

Publisher: Cengage Learning

ISBN: 0538731192

Category: Business & Economics

Page: 640

View: 2667

Prepare your students to meet the demands of today's business world with the proven, practical dual approach in Burton/Shelton's BUSINESS MATH USING EXCEL, 2nd Edition. This book equips readers to master the math concepts most useful in contemporary business by first teaching students the traditional methods of calculating. The authors then emphasize a second approach that teaches the same math concepts using the functions of Microsoft Excel. This edition of BUSINESS MATH USING EXCEL prepares students to use the latest version of Excel 2010. Your future business professionals learn to create formulas and master the functions of Excel while developing high level math skills and refining other skills that will prepare them to succeed in the workplace. This edition's new, full-color design presents concepts in manageable sections to help build confidence for students at all levels of math proficiency. New profiles and new personal finance features emphasize the practicality of the book's content as they demonstrate how professionals use math daily and highlight common consumer issues. A new CourseMaster outcomes-based learning solution with homework tools and automatic grading saves you time while helping students focus on the concepts most important for business math success. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.

Advanced modelling in finance using Excel and VBA

Author: Mary Jackson,Mike Staunton

Publisher: John Wiley & Sons Inc

ISBN: 9780471499220

Category: Business & Economics

Page: 263

View: 8130

This new and unique book demonstrates that Excel and VBA can play an important role in the explanation and implementation of numerical methods across finance. Advanced Modelling in Finance provides a comprehensive look at equities, options on equities and options on bonds from the early 1950s to the late 1990s. The book adopts a step-by-step approach to understanding the more sophisticated aspects of Excel macros and VBA programming, showing how these programming techniques can be used to model and manipulate financial data, as applied to equities, bonds and options. The book is essential for financial practitioners who need to develop their financial modelling skill sets as there is an increase in the need to analyse and develop ever more complex 'what if' scenarios. Specifically applies Excel and VBA to the financial markets Packaged with a CD containing the software from the examples throughout the book Note: CD-ROM/DVD and other supplementary materials are not included as part of eBook file.


Author: Hans U. Gerber

Publisher: Springer-Verlag

ISBN: 3642713106

Category: Business & Economics

Page: 126

View: 6105

C# for Financial Markets

Author: Daniel J. Duffy,Andrea Germani

Publisher: John Wiley & Sons

ISBN: 1118502833

Category: Business & Economics

Page: 856

View: 6405

A practice-oriented guide to using C# to design and program pricing and trading models In this step-by-step guide to software development for financial analysts, traders, developers and quants, the authors show both novice and experienced practitioners how to develop robust and accurate pricing models and employ them in real environments. Traders will learn how to design and implement applications for curve and surface modeling, fixed income products, hedging strategies, plain and exotic option modeling, interest rate options, structured bonds, unfunded structured products, and more. A unique mix of modern software technology and quantitative finance, this book is both timely and practical. The approach is thorough and comprehensive and the authors use a combination of C# language features, design patterns, mathematics and finance to produce efficient and maintainable software. Designed for quant developers, traders and MSc/MFE students, each chapter has numerous exercises and the book is accompanied by a dedicated companion website,, providing all source code, alongside audio, support and discussion forums for readers to comment on the code and obtain new versions of the software.

Derivatives Essentials

An Introduction to Forwards, Futures, Options and Swaps

Author: Aron Gottesman

Publisher: John Wiley & Sons

ISBN: 1119163560

Category: Business & Economics

Page: 352

View: 6342

A clear, practical guide to working effectively with derivative securities products Derivatives Essentials is an accessible, yet detailed guide to derivative securities. With an emphasis on mechanisms over formulas, this book promotes a greater understanding of the topic in a straightforward manner, using plain-English explanations. Mathematics are included, but the focus is on comprehension and the issues that matter most to practitioners—including the rights and obligations, terms and conventions, opportunities and exposures, trading, motivation, sensitivities, pricing, and valuation of each product. Coverage includes forwards, futures, options, swaps, and related products and trading strategies, with practical examples that demonstrate each concept in action. The companion website provides Excel files that illustrate pricing, valuation, sensitivities, and strategies discussed in the book, and practice and assessment questions for each chapter allow you to reinforce your learning and gauge the depth of your understanding. Derivative securities are a complex topic with many "moving parts," but practitioners must possess a full working knowledge of these products to use them effectively. This book promotes a truly internalized understanding rather than rote memorization or strict quantitation, with clear explanations and true-to-life examples. Understand the concepts behind derivative securities Delve into the nature, pricing, and offset of sensitivities Learn how different products are priced and valued Examine trading strategies and practical examples for each product Pricing and valuation is important, but understanding the fundamental nature of each product is critical—it gives you the power to wield them more effectively, and exploit their natural behaviors to achieve both short- and long-term market goals. Derivatives Essentials provides the clarity and practical perspective you need to master the effective use of derivative securities products.

An Introduction to Management Science

Quantitative Approaches to Decision Making

Author: David Ray Anderson,Dennis J. Sweeney,Thomas Arthur Williams

Publisher: South-Western Pub


Category: Business & Economics

Page: 881

View: 6400

Intended for business professionals and managers who would like a better conceptual understanding of the role of management science in the decision making process, this book blends problem formulation with managerial interpretation and maths technique.


Banken, Versicherungen und andere Finanzinstitutionen

Author: John Hull

Publisher: Pearson Deutschland GmbH

ISBN: 9783868940435

Category: Financial institutional

Page: 616

View: 8546

Mastering Financial Modelling in Microsoft Excel 3rd edn

A Practitioner's Guide to Applied Corporate Finance

Author: Alastair Day

Publisher: Pearson UK

ISBN: 0273772341

Category: Business & Economics

Page: 520

View: 1914

Comprehensive tools and methods to help you build, develop and apply financial models using Microsoft Excel, enabling you to get better, more accurate results, faster. The new edition of this bestselling title begins by explaining basic modelling techniques before moving through to more complex models. The book is divided into two parts: the first part outlines model designs and gives templates, key features and techniques. The second part of the book shows how to build corporate financial models in Excel. This new edition includes a reworking of the book in Excel 2010 (but with older material still included), inclusion of Apple Mac, addition of specific 2010 features and end of chapter exercises. If you are buying the ebook, companion files can be downloaded from the digital downloads section of

Das einzig Gewisse ist das Ungewisse

Streifzüge durch die unberechenbare Welt der Mathematik

Author: John Allen Paulos

Publisher: N.A

ISBN: 9783593374239


Page: 223

View: 6325

Investment mathematics

Author: A. T. Adams

Publisher: John Wiley & Sons Inc

ISBN: 9780471998822

Category: Business & Economics

Page: 419

View: 1832

This volume provides readers with a clear introductory analysis of investments from a quantitative viewpoint. Drawing together many of the tools and techniques required by investment professionals, this second edition offers readers a complete overview of a number of securities, including fixed interest bonds, equities, foreign currency and derivatives. Other relevant topics such as modern portfolio theory, portfolio performance measurement and stochastic investment models are discussed to give the reader a well-rounded understanding of investment applications.

Credit Risk Modeling using Excel and VBA

Author: Gunter Löeffler,Peter N. Posch

Publisher: John Wiley & Sons

ISBN: 0470510749

Category: Business & Economics

Page: 280

View: 6245

In today's increasingly competitive financial world, successful risk management, portfolio management, and financial structuring demand more than up-to-date financial know-how. They also call for quantitative expertise, including the ability to effectively apply mathematical modeling tools and techniques, in this case credit. Credit Risk Modeling using Excel and VBA with DVD provides practitioners with a hands on introduction to credit risk modeling. Instead of just presenting analytical methods it shows how to implement them using Excel and VBA, in addition to a detailed description in the text a DVD guides readers step by step through the implementation. The authors begin by showing how to use option theoretic and statistical models to estimate a borrowers default risk. The second half of the book is devoted to credit portfolio risk. The authors guide readers through the implementation of a credit risk model, show how portfolio models can be validated or used to access structured credit products like CDO’s. The final chapters address modeling issues associated with the new Basel Accord.

Option Pricing Models and Volatility Using Excel-VBA

Author: Fabrice D. Rouah,Gregory Vainberg

Publisher: John Wiley & Sons

ISBN: 1118429206

Category: Business & Economics

Page: 441

View: 6223

This comprehensive guide offers traders, quants, and studentsthe tools and techniques for using advanced models for pricingoptions. The accompanying website includes data files, such asoptions prices, stock prices, or index prices, as well as all ofthe codes needed to use the option and volatility models describedin the book. Praise for Option Pricing Models & Volatility UsingExcel-VBA "Excel is already a great pedagogical tool for teaching optionvaluation and risk management. But the VBA routines in this bookelevate Excel to an industrial-strength financial engineeringtoolbox. I have no doubt that it will become hugely successful as areference for option traders and risk managers." —Peter Christoffersen, Associate Professor of Finance,Desautels Faculty of Management, McGill University "This book is filled with methodology and techniques on how toimplement option pricing and volatility models in VBA. The booktakes an in-depth look into how to implement the Heston and Hestonand Nandi models and includes an entire chapter on parameterestimation, but this is just the tip of the iceberg. Everyoneinterested in derivatives should have this book in their personallibrary." —Espen Gaarder Haug, option trader, philosopher, andauthor of Derivatives Models on Models "I am impressed. This is an important book because it is thefirst book to cover the modern generation of option models,including stochastic volatility and GARCH." —Steven L. Heston, Assistant Professor of Finance,R.H. Smith School of Business, University of Maryland

C++ Design Patterns and Derivatives Pricing

Author: M. S. Joshi

Publisher: Cambridge University Press

ISBN: 0521721628

Category: Business & Economics

Page: 292

View: 359

Explains how to create well-designed, structured, reusable C++ code, particularly for financial applications.

Operations Research


Author: Frederick S. Hillier,Gerald J. Liebermann

Publisher: Walter de Gruyter GmbH & Co KG

ISBN: 3486792083

Category: Business & Economics

Page: 868

View: 7785

Aus dem Inhalt: Was ist Operations Research? Überblick über die Modellierungsgrundsätze des Operations Research. Einführung in die lineare Programmierung. Die Lösung linearer Programmierungsprobleme: Das Simplexverfahren. Stochastische Prozesse. Warteschlangentheorie. Lagerhaltungstheorie. Prognoseverfahren. Markov-Entscheidungsprozesse. Reliabilität. Entscheidungstheorie. Die Theorie des Simplexverfahrens Qualitätstheorie und Sensitivitätsanalyse Spezialfälle linearer Programmierungsprobleme. Die Formulierung linearer Programmierungsmodelle und Goal-Programmierung. Weitere Algorithmen der linearen Programmierung. Netzwerkanalyse einschließlich PERT-CPM. Dynamische Optimierung. Spieltheorie. Ganzzahlige Programmierung. Nichtlineare Programmierung Simulation. Anhang. Lösungen für ausgewählte Übungsaufgaben.

Report of the High Powered Expert Committee on Making Mumbai an International Financial Centre

Author: N.A

Publisher: N.A


Category: Bombay (India)

Page: 246

View: 9619

Intermediate Structured Finance Modeling

Leveraging Excel, VBA, Access, and PowerPoint

Author: William Preinitz,Matthew Niedermaier

Publisher: John Wiley & Sons Incorporated


Category: Computers

Page: 995

View: 7339

This book is written for financial analysts who have a working knowledge of Excel and VBA and who wish to enhance their marketability by improving their modeling expertise. The goal of the book is to broaden the reader’s VBA skills and at the same time to progressively integrate Access, PowerPoint, and Outlook into an existing model. Significant attention is also directed to the design and execution of an Excel/VBA interface employing detailed UserForms. In addition, the construction of various reports, first in Excel, then Access, and finally PowerPoint is undertaken. Regardless of your area of financial expertise, this book serves as an essential guide to mastering leveraging the effects of Microsoft products in whatever applications you choose to build. The focus of the book is a case study containing a structured finance model. The case study model was originally designed for the securitization of a portfolio of commercial small business loans. This model now needs to be expanded to securitize a much larger portfolio of residential mortgages. The Original Structuring model will be bifurcated into a Sources of Funds model, the assets of the collateral pool, and a Uses of Funds model, the liabilities waterfall model. This will give the reader experience working with an existing model as a base departure point of development rather than the less common “start from scratch” approach. Once the Base Asset Model (BAM) and the Base Liabilities Models (BLM) are complete, each model will serve as the platform for future development. From the BAM and BLM a pair of much more robust models, the Collateral Cash Flow Generator (CCFG) and the Liabilities Waterfall Model (LWM), respectively, are created. The CCFG is designed to process a significantly greater quantity, variety, and complexity of collateral types. It also introduces the analyst to Geographic based prepayment methods as well as those using Financial/Demographic factor approaches. The LWM, operating independently of the CCFG, reads the collateral cash flow scenarios and applies them across a two tiered, six tranche bond structure. The liabilities waterfall contains provision for an interest rate swap, performance triggers and a variety of other credit enhancement features. With the CCFG and LWM now complete Access is introduced. Access will replace various Excel/VBA code modules in the CCFG such as the collateral data management, data scrubbing and reporting, data sufficiency testing, and eligibility screening. Access is also employed to export and the various collateral cash flows. In the LWM Access is used to import the cash flows, store the liability structure specifications, and export/save the resultant structure performance. PowerPoint is then introduced in the CCFG to allow for the fully automated production of presentation report packages. Last Outlook is added to the models to inform the analyst of model performance and to automatically distribute the various report packages to pre-designated mailing lists. The book contains over 750 exhibits of reports, menus, calculation, and algorithmic examples and most of all code. The complete Excel, VBA, Access, PowerPoint, and Outlook code for all of the models is included on the Web site. The Web site also includes Web chapters containing detailed instructions on how to create and populate a directory environment to store this code, run the models, and organize the results. Lastly there are other Web chapters containing supplemental information explaining the structure and function of the original model, bond and mortgage math (with calculation examples), representative line generator programs, and a tutorial on the construction and integration of UserForms. This book is the intermediate level companion volume to A Fast-Track to Structured Finance Modeling, Monitoring, and Valuation: Jump Start VBA; Preinitz; Wiley 2009, an introductory work on the subject.

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