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	Derivative (finance) - Wikipedia, the free encyclopedia
		A derivative is a financial contract whose payoffs over a period of time are derived from the performance of assets, interest rates, exchange rates, or indices.
		Other uses of derivatives are to gain an economic exposure to an underlying security in situations where direct ownership of the underlying is too costly or is prohibited by legal or regulatory restrictions, or to create a synthetic short position.
		Most financial planners caution against this, pointing out that an investor in derivatives often assumes a great deal of risk, and therefore investments in derivatives must be made with caution, especially for the small investor ([2]).
	en.wikipedia.org /wiki/Derivative_security (1729 words)

	FINANCIAL DERIVATIVES (Site not responding. Last check: 2007-10-22)
		The accounting for financial derivatives is in the process of change with the June 1998 approval by the FASB of Statement No. 133.
		The second caveat is that the institution must have appropriate personnel and systems in place to understand the risks involved in the financial derivatives and to monitor the performance of the financial derivatives and their effect on the overall risk levels of the bank or thrift.
		Because it does involve a financial derivative, such practices must be authorized by the approved policies and procedures of the bank, and the bank must have adequate personnel, systems and controls to ensure that such activities are conducted in a safe and sound manner.
	www.acbankers.org /accounting/chapters/chapter05.htm (4993 words)

	10 Myths About Financial Derivatives
		Derivatives, as their name implies, are contracts that are based on or derived from some underlying asset, reference rate, or index.
		Likewise, when financial derivatives are used improperly or without a plan, they can inflict pain by causing serious losses or propelling the organization in the wrong direction so that it is ill prepared for the future.
		Financial derivatives are not the latest risk-management fad; they are important tools for helping organizations to better manage their risk exposures.
	www.cato.org /pubs/pas/pa-283.html (5545 words)

	FRB: Speech, Greenspan -- Financial derivatives -- March 19, 1999
		Despite the world financial trauma of the past eighteen months, there is as yet no evidence of an overall slowdown in the pre-crisis derivative growth rates, either on or off exchanges.
		The bulk of the losses reported by the major derivative houses for the financially turbulent third quarter of last year reflected declines in the market values of their underlying trading positions, especially in equities, commodities, and emerging market debt.
		Interest rate swaps (70 percent of the notional value of OTC derivatives) have limited long-term loss potential, primarily because the contracts do not provide for an exchange of principal and the exposure is effectively amortized as interest payments are exchanged over the life of the contract.
	www.federalreserve.gov /boarddocs/speeches/1999/19990319.htm (2715 words)

	ATB Financial - Guidelines - Derivatives Best Practises
		Derivatives are financial contracts whose values are derived from the value of an underlying primary financial instrument, commodity or index, such as: interest rates, exchange rates, commodities, and equities.
		ATB Financial should ensure that its capital is sufficient to support all the quantifiable risks, of which derivatives are a part, on a fully consolidated basis and that adequate capital is maintained in all group entities engaged in these activities.
		Over-the-counter derivative transactions are predominantly arm's-length transactions in which each counter-party has a responsibility to review and evaluate the terms and conditions, and the potential risk and benefits, of prospective transactions and to obtain such additional information or independent professional assistance as it may require in connection with a particular transaction.
	www.atb.com /dev/aboutatb/atb_guidelines_1.asp (4351 words)

	Banks, DFIs to issue financial derivatives -DAWN - Business; 27 November, 2004
		Financial analysts say this decision of the central bank will, over the years put Pakistan's financial market at par with those of the developed countries in terms of availability of financial products.
		The SBP has recently allowed Over the Counter or OTC financial derivatives in Pakistan, under which banks were permitted to undertake Interest Rate Swap IRS, Foreign Currency or FX Option and Forward Rate Agreement or FRA on the basis of transactional approval from the SBP.
		The OTC financial derivatives has undergone tremendous growth throughout the world during the last decade as the derivatives have become extremely popular for hedging risks as well as for profit-making.
	www.dawn.com /2004/11/27/ebr1.htm (998 words)

	The Korea Times : Financial Derivatives Trading Explodes (Site not responding. Last check: 2007-10-22)
		Local banks are vying for the trading of financial derivatives, such as futures and options, amid the prolonged low interest rate trend and uncertainties over stock prices.
		Although the balance of derivatives trading in Korea is equivalent to 1.3 and 0.6 percent of that of the Japanese and U.S. markets, respectively, local banks have higher risks than the competitors in the two nations, according to the BOK.
		It added, despite the surge in derivatives trading, credit exposures are not so high, as the ratio of derivatives trading to total assets are lower than that of banks in advanced countries.
	times.hankooki.com /lpage/biz/200409/kt2004091517383611860.htm (298 words)

	Amazon.com: Financial Derivatives: Books: Robert W. Kolb (Site not responding. Last check: 2007-10-22)
		Financial Derivatives provides a thorough introduction to financial derivatives and their importance to risk management in the corporate setting.
		The book has two principal goals: to offer a broad overview of the different types of financial derivatives while focusing on the principals that determine market prices, and to present financial derivatives as a tool for risk management in a corporate setting rather than as instruments of speculation.
		A financial derivative is a financial instrument that is based upon another more elementary financial instrument, and the value of the financial derivative depends upon the more basic instrument.
	www.amazon.com /exec/obidos/tg/detail/-/0130515590?v=glance (843 words)

	Reason: In Defense of Derivatives: Between Enron, WorldCom, and Global Crossing, the controversial financial ...
		For example, stock options, perhaps the best-known derivatives, are based on the underlying value of the stock that the option enables the purchaser to buy at a later date.
		There are derivatives betting on the likelihood of a natural catastrophe; consumer credit card debt has been converted into bonds; futures markets have been established for such things as barge rates; and options allow investors to speculate on the temperature, wind chill, and amount of rainfall in many cities.
		Derivatives did play a role in what was the second-largest bankruptcy in U.S. history (behind only WorldCom), but not in the way most people think.
	www.reason.com /0402/fe.gc.in.shtml (4375 words)

	Capital Market Risk Advisors
		CMRA) is the preeminent financial advisory firm specializing in risk management, hedge funds, due diligence, compliance, portfolio construction and risk attribution.
		CMRA and its predecessor firms have played an integral role in the evolution of hedge funds, derivatives, structured securities and risk management for more than 13 years.
		Rahl was previously the Co-head of Citibank's Derivatives Group and served as a Director of ISDA for 5 years.
	www.cmra.com (195 words)

	SEC Testimony: OTC Derivatives (R. Lindsey)
		The proper regulation of the OTC derivatives market is therefore an important concern to this Committee and to all of the financial regulators.
		New developments in financial engineering, however, have made significant progress toward the goal of allowing both dealers and end-users to more clearly identify and manage different kinds and degrees of risk in their portfolios.
		While financial losses of this magnitude are of concern to regulators, these incidents do not necessarily demonstrate a need to adopt a new, comprehensive system of regulation for this market.
	www.sec.gov /news/testimony/testarchive/1998/tsty1598.htm (3323 words)

	Financial Pipeline Derivatives Page
		Derivatives are financial securities whose value is derived from another "underlying" financial security.
		Derivatives can be used hedging, protecting against financial risk, or can be used to speculate on the movement of commodity or security prices, interest rates or the levels of financial indices.
		A derivative financial product is a contrived instrument, the value of which depends indirectly on the price of a cash instrument.
	www.finpipe.com /derivatives.htm (230 words)

	Amazon.co.uk: Financial Derivatives: Books (Site not responding. Last check: 2007-10-22)
		For individuals who want to understand derivatives without getting bogged down in the mathematics surrounding their pricing and valuation Financial Derivatives, Third Edition is the perfect read.
		Financial Derivatives- financial instruments whose value depends onm other basic instruments, such as stocks or bonds- have emerged as imporatnat risk-mangement tools in the corporate world.
		Financial Derivatives offers a broad overview of the different types of derivatives (futures, options on futures, and swaps), while focussing on the principles that determine market prices.
	www.amazon.co.uk /exec/obidos/ASIN/1557869308 (375 words)

	Financial Derivatives \| Homepage
		The Financial Derivatives project was developed to provide the lowest level of option pricing.
		The idea of distributing options, or derivatives, began to be widespread in 1973, although they existed previously on an 'over-the-counter' basis.
		Options were invented and are used by practicing financiers; they are issued and traded regardless of what theoreticians think.
	www.haifa.il.ibm.com /projects/software/fd (333 words)

	Structured Financial Derivatives
		There certainly were derivatives in India before he hit the scene in the late 1990s.
		But I have known few people who have hard sold structured products to the Indian corporate sector as much as Anindya, coming up with swaps with barrier options for people who swore by vanilla forward contracts before he was unleashed on the market.
		And, as any reasonable warm-blooded and two-legged creature in the big bad world of finance would tell you, a world of derivatives without structured products (read, with only vanilla products) is somewhat like a dance club that keeps tango and lambada out of its premises.
	www.geocities.com /sumonbha/structured1.html (168 words)

	Amazon.co.uk: The Mathematics of Financial Derivatives: A Student Introduction: Books (Site not responding. Last check: 2007-10-22)
		This, together with the sophistication of modern financial products, provides a rapidly growing impetus for new mathematical models and modern mathematical methods; the area is an expanding source for novel and relevant 'real-world' mathematics.
		In this book the authors describe the modelling of financial derivative products from an applied mathematician's viewpoint, from modelling through analysis to elementary computation.
		A unified approach to modelling derivative products as partial differential equations is presented, using numerical solutions where appropriate.
	www.amazon.co.uk /exec/obidos/ASIN/0521497892 (935 words)

	Bobsguide - Financial Derivatives Software
		For people responsible for developing applications that require financial analytics, FINCAD Developer provides programmatic access to the most comprehensive industry standard library of financial analytics that is commercially available.
		For users of Financial Derivatives, FINCAD XL provides an easy to use, industry standard, comprehensive library of financial functions that can accurately value and assess the risk of almost every type of derivative.
		Calypso's Interest Rate Derivatives solution was designed by interest rate derivatives traders and operations personnel to support a wide range of interest rate...
	www.bobsguide.com /guide/deriv.html (516 words)

	Savvysoft - A New Spin on Software
		Savvysoft is the award-winning provider of financial software products for the institutional market.
		Savvysoft makes and sells the market’s most comprehensive range of derivatives models, portfolio and risk management systems, daily corporate credit default probabilities, and now, TurboExcel, a groundbreaking Excel-based robotic programmer that lets you write programs in C++ using only an Excel spreadsheet.
		With over 3000 installations in 15 countries, the company's flagship product, TOPS is fast becoming the standard by which all other derivatives software is measured.
	www.savvysoft.com (135 words)

	Cover Pages: Financial Products Markup Language (FpML)
		Financial Products Markup Language is the official protocol of ISDA (the International Swaps and Derivatives Association) for describing privately negotiated financial derivative transactions...
		The charter of the credit derivatives working group and the full scope of the work for version 4.0 can be found at www.fpml.org/wg/cd/index.asp...
		OTC Derivatives Trading Standard Reduces Costs, Broadens Markets." - "Financial products Markup Language, the e-commerce standard supporting OTC trading of financial derivatives, will be used across firms by the middle of the year, delegates to the FpML Spring Forum were told today.
	xml.coverpages.org /fpml.html (7012 words)

	[No title] (Site not responding. Last check: 2007-10-22)
		First, it offers a broad overview of the different types of financial derivatives futures, options, options on futures, and swaps - while focusing on the principles that determine market prices.
		Second, the text presents financial derivatives as tools for risk management in a corporate setting, rather than as instruments of speculation.
		This approach is consistent with tye emergence of financial institutions and corporations as dominant forces in markets for financial derivatives.
	www.blackwellpublishing.com /bookxml.asp?isbn=1557869308 (119 words)

	Orange County Value-at-Risk Case
		After the string of recent derivatives disasters, financial institutions, end-users, regulators, and central bankers are now turning to VAR as a method to foster stability in financial markets.
		Citron was able to increase returns on the pool by investing in derivatives securities and leveraging the portfolio to the hilt.
		These notes, also called derivatives, were initially blamed for the loss but were in fact consistent with the overall strategy.
	www.gsm.uci.edu /~jorion/oc/case.html (2571 words)

	Investing - Avoiding a 'Mega-Catastrophe' - Intro - FORTUNE (Site not responding. Last check: 2007-10-22)
		He also concludes that the explosion in derivatives contracts may have created serious systemic risks.
		Loomis suggested to Buffett that he publish his section on derivatives in FORTUNE, and what follows is excerpted from the 2002 Berkshire Hathaway annual report, which will appear at berkshirehathaway.com on March 8.
		Charlie [Munger, Buffett's partner in managing Berkshire Hathaway] and I are of one mind in how we feel about derivatives and the trading activities that go with them: We view them as time bombs, both for the parties that deal in them and the...
	www.fortune.com /fortune/investing/articles/0,15114,427751,00.html (275 words)

	Financial Engineering News, free bimonthly print publication
		Financial Engineering News is a free bimonthly publication covering the news and innovations in the fields of financial engineering and risk management.
		Wiley is a global publisher of print and electronic products, specializing in scientific, technical, and medical books and journals; professional and consumer books and subscription services; and textbooks and other educational materials for undergraduate and graduate students as well as lifelong learners.
		Financial Engineering News is owned by Cusp Communications Group, Inc. and edited by Jim Finnegan (jfinnegan@fenews.com) If you're interested in advertising in our print publication, our email newsletter, or our web site, (fenews.com) please contact us.
	www.fenews.com (839 words)

	Derivatives Financial Products Report
		Derivatives Financial Products Report analyzes the tax, accounting and regulatory issues in the rapidly changing world of financial instruments.
		Information gleamed from the Report is of critical importance to financial engineers charged with the mission of redesigning instruments that fall prey to new tax laws.
		Finally, we feature an article by Mark Bergman of Paul, Weiss (lucky for us a frequent contributor to these pages) on major proposals by the SEC to change the disclosure rules relating to the offering of securities.
	ria.thomson.com /estore/detail.aspx?ID=TDVN (616 words)

	Amazon.com: Modeling Financial Derivatives With Mathematica (Includes CD-ROM): Books: William T. Shaw (Site not responding. Last check: 2007-10-22)
		When expressed in mathematical terms, the modelling of a derivative security amounts to understanding the behaviour of a function of several variables in considerable detail.
		The code he writes could trivially be ported to FORTAN, Visual Basic or C. In fact, based on his experience as a practioner, one suspects these models were hastily converted to Mathematica from C. In so doing, Shaw shows that he entirely misses the point of Mathematica.
		His second purpose is to present a complete if concise development of the mathematical approach to the valuation of a large class of derivative securities.
	www.amazon.com /exec/obidos/tg/detail/-/052159233X?v=glance (1894 words)

	FINCAD Risk management software for derivatives and other financial securities.
		FINCAD (FinancialCAD Corporation) provides software and services that support the valuation and risk management of financial securities and derivatives that is essential for banks, corporate treasuries and asset management firms.
		Use this MS® Excel add-in to independently and accurately value financial securities and derivatives.
		Use this online application to value derivatives and to comply with FAS 133, IAS 39 and AcG-13.
	www.fincad.com (96 words)

	Financial Derivatives - Compare Prices & Reviews at Smarter
		Find financial derivatives jobs on our "Other Jobs" page at D.W. Simpson.
		Risk Management software for corporations looking to streamline their operation and reap cost savings in managing hedge strategies, stabilize earnings and conform to FAS 133.
		Become a financial engineer from home with Kennedy-Western's comprehensive online program.
	www.smarter.com /books-1/product/financial_derivatives-606817 (165 words)

	FpML: The XML Standard for Swaps, Derivatives and Structured Products
		FpML™ (Financial products Markup Language) is the industry-standard protocol for complex financial products.
		It is based on XML (Extensible Markup Language), the standard meta-language for describing data shared between applications.
		Besides these derivative products FpML™ has a description of a broad group of underlying assets, which can be underlying assets to the derivative transaction or can be used e.g.
	www.fpml.org (391 words)

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