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Presentation on theme: "TITLE FINANCIAL DERIVATIVES : The Currency and Rates Factor AUTHOR"— Presentation transcript:

1 TITLE FINANCIAL DERIVATIVES : The Currency and Rates Factor AUTHOR Divik Maheshwari / Aman Chugh ISBN Forward By Mr Sanjeev Bajaj , Managing Director and Head of Credit Suisse AG, Mumbai Branch Publishing Date August 2011 Publisher Pearson

2 About the Book To be financially literate in today’s market, students and professionals in the field of finance must have a solid understanding of the concepts, instruments and application of financial derivatives. This text offers a broad based introduction to financial derivatives and covers both the technical aspects of these instruments and information about the markets in which they are traded. The text balances rigor and accessibility through a clear writing style, a graduated mathematical treatment, and an integration of numerous examples and worked out activities to illustrate the application of techniques and facilitate self-assessment. This book on Derivatives is a complete text book/Advance Academic Book/Reference book for University/Colleges/Professional Courses in Finance Specialization including Chartered Accountancy(CA) MBA (Finance) Certified Financial Analyst(CFA)   NCFM/NISM organized by National Stock Exchange of India.

3 About the Author – Divik Maheshwari
Divik Maheshwari is presently Vice President in Fixed Income Division within Investment Banking vertical of Credit Suisse AG (a top-tier Global Investment Bank) in Mumbai dealing across vanilla and hybrid product suites comprising foreign exchange, interest rate, credit, commodity and equity markets. He has been advising and executing risk management and derivative solutions for large capital and mid-capital corporates and MNCs. Prior to this, he has worked with Deutsche Bank which is an another top-tier Global Investment Bank. He also had stints with Kotak Mahindra Bank, ICICI Bank and Tata Consultancy Services which are among the renowned and top notch Indian companies. Divik possesses a decade of experience in Financial Markets and is a specialist in currency and interest-rate derivatives, and technical charting. He has also conducted training programs at various forums across the country. Divik is a qualified Chartered Accountant, Company Secretary and Financial Risk Manager (FRM, USA). He has been honored with Gold Medal and Scholarships by The Institute of Company Secretaries of India (ICSI) for securing All India Ranks (First in CS Foundation and Second in CS Final). He has also been awarded with ‘Preeti Puraskar’ and ‘Sultan Chand Trust Prize’ by the ICSI.

4 About the Author – Aman Chugh
Aman Chugh, one of the youngest chartered accountants of India, has vast experience and expertise in currency and interest rates derivative markets. His expertise comes from working as Regional Head (North Region) of FX Channels in Global Markets Group of ICICI Bank. He is one of the youngest advisors to the Capital Markets Study Group of Northern India Regional Council of The Institute of Chartered Accountants of India and is also on the panel of trainers providing training in the domain of derivative markets on behalf of ICICI Group. In the past, he has been associated with PriceWaterHouse Coopers,Ernst & Young and General Electric (India and USA). Having worked in industry, consulting and banking, he possesses experience in the fields of auditing, business valuation, corporate restructuring (including mergers and acquisitions), corporate finance, foreign exchange and risk management. He conducts and provides consultancy/corporate trainings in Fortune 500 companies and other reputed organizations/associations such as LIC, Punjab National Bank, Alcatel Lucent, Telmar (a Jabil group company), Ascendas, Aricent, Apparel Export Promotion Council, Million Dollar Round Table (MDRT), Ministry of Labor and Employment, and study circles of The Institute of Chartered Accountants of India and The Institute of Company Secretaries of India. He has also been associated in the capacity of visiting faculty/guest speaker with many highly rated B-Schools, institutes and universities such as Indian Institute of Technology, New Delhi, Sri Ram College of Commerce, University of Delhi, Indian Institute of Foreign Trade and Indian Institute of Planning and Management. He has been awarded with the “Best Faculty Awards” and “Outstanding Contribution to the Cause of Education Awards” by various Institutes and Universities.

5 Features of Book Focuses primarily in foreign exchange and interest rate derivatives, which accounts for ~ 90% of the global derivative market turnover. Other asset classes in the balance ~ 10 % include Equity, Commodity and Credit Derivatives.  Includes vanilla and exotic structured products on foreign exchange and interest rate derivatives, which are executed globally by investors, hedge funds and banks. Features screenshots from Thomson Reuters displaying among others, live currency and rates market as they appear to professional traders, historical charts displaying economic data releases and calculators which traders use to price options. Elucidates theory with real life practical examples and case studies which emerges from authors' rich experience while working with global investment banks.

6 Contents of Book 1) Universe of Derivatives - Facts
1)         Universe of Derivatives - Facts 2)         Derivatives Introduced – Indian Perspective 3)         OTC FX Concepts         4)         ETC FX Concepts 5)         FX Options – Concepts 6)         FX Options – Valued  7)         FX Options – Structured Solutions 8)         Interest Rate Product – Vanilla to Exotic 9)         Money Market: The FX Impact 10)       Indianomics 11)       Fundamental Analysis & Data Releases 12)       Technical Analysis 13)       ISDA Agreement - Documenting Derivatives

7 Reviews from Experts The book Financial Derivatives is written by Aman Chugh and Divik Maheshwari in such a manner that even a novice in the field of finance will be able to grasp the concepts with ease. The book has a very user friendly approach and style of presentation. It is a must-have for every individual involved in the field of derivatives. V. P. Bharadwaj, Joint Secretary, Ministry of Finance, Government of India This book has a unique and an unparalleled effort in the area of foreign exchange and interest rate derivative by the authors who have tremendous experience in this area. I would recommend this book as a must-read to all students of Finance and Corporate Houses who wish to hedge their exposure against adverse foreign exchange and interest rate movements. D. G. Kale, General Manager, Reserve Bank of India On behalf of Northern India Regional Council of The Institute of Chartered Accountants of India, I would like to congratulate the authors, Aman Chugh and Divik Maheshwari, for coming up with one of the fi nest and unique books on the contemporary topic of Financial Derivatives. The manner and depth with which concepts have been covered speaks about their wide and end-to-end experience and expertise which they have gained while working practically on the said subject matter. CA (Dr) Durga Das Aggarwal, Chairman, Northern India Regional Council, ICAI

8 Reviews from Experts As the global financial markets hurtle from one to another crisis, the uncertainty and resultant volatility has been on the rise, especially after the financial crisis of The capital mobility across the world at frenzied pace has resulted in alternating bouts of risk accumulation, and risk aversion tends to resemble seasonal weather changes. It is prudent for any practitioner to hold strong background knowledge of the markets to comprehend the undercurrents and to understand the dynamics. Both the authors have excellent understanding of the markets and it is indeed creditable that they have come up with a lucid analysis of all the relevant information pertaining to the fi nancial derivatives which would be a useful depository of knowledge. Venkat Thiagarajan, Senior Vice President and Head Treasury (FOREX), Reliance Industries Limited The current and earlier crises have brought forex - and treasury-related operations under the direct pursuit of the CFOs.This book can guide CFO’s in understanding the markets tracking the factors impacting their treasury operations and core business. India’s focused approach and knowledge dissemination would help to a greater extent the finance professionals and the corporate treasuries in monitoring the balance sheets, factors affecting them and taking appropriate steps in time. The book should also help management students in thorough understanding the impacts of various economic events and data releases on the currencies and interest rates which otherwise are available only in Advanced Treasury Training Courses. T. Venkatesan, Head, Corporate Forex Treasury, Tata Consultancy Services

9 Reviews from Experts This book is a stimulating read with an excellent overview of risk and rewards in derivatives, especially in the Indian context. Complex and challenging derivative concepts have been lucidly explained so that even a novice in the field of finance would be able to grasp the contents with ease. The book is a must- have for every individual involved in the field of derivatives and finance in general. R. Govindan, General Manager, Corporate Finance, Larsen and Toubro This book is one of the fi nest books I have ever come across on foreign exchange and interest rates market. Here comes a masterpiece which puts an end to the search for a comprehensive book on the complex and dynamic world of derivatives. Ram Subramonian, Vice President, Treasury (Foreign Exchange), Reliance Industries Ltd. This book is highly recommended for very practical approach, explaining complex world of forex markets and derivatives duly supported by interesting charts and market data. Sequence of topic has been carefully structured to provide seamless understanding of concepts for beginners as well as practicing treasurers. Vineet Sood, Senior Vice President, Treasury, HCL The book is so well written that even a novice in the field of finance will be able to grasp the concepts with ease. It has highly user friendly approach and style of presentation. It gives a great insight about the depth and significance of derivatives markets. It is a must-have for every individual involved in the field of derivatives. Ramaswami Sivakumar, General Manager, Treasury, Wipro

10 Reviews from Experts I found this book very informative, insightful and would surely be a compelling read for both students and professionals. It would also be a market practitioners’ reference book. The illustrations in the form of relevant Thomson Reuters screenshots and solved numericals are succinct and comprehensive. Further, the section on India is highly informative about linkages in money markets and macro variables. Derivatives have been truly unlocked for readers. Partha Bhattacharyya, Group Treasurer, Essar Group It was high time someone explained derivatives in the context of Indian Financial Markets. This book has done this perfectly. It is a rare mixture of fundamental concepts and practical application specific to Indian markets. Y. Kiran, Treasury, Dr Reddy’s Laboratories Ltd. The book Financial Derivatives is incisive, practical oriented and comprehensible for even an uninitiated student. The book will be an invaluable guide for all those who have a quest for learning the matter of topical interest. I congratulate the authors for the thoughtful publication. Suresh Kumar, CFO, Ruchi Group This book comprehensively takes care of all the technical aspects of the subject matter of Foreign Exchange and Rates Market which is very diffi cult to fi nd under one umbrella. I convey my best wishes to both the authors for their amazing work. To put it shortly, I should say that the book is “Treasury Made Easy by a Practicing Treasurer”. K. Vasudevan, General Manager, Treasury, Ruchi Soya Industries Limited

11 Reviews from Experts I am deeply impressed by the contents of this book. Most of the complex issues like Forex Markets Products, Derivatives and Technical Analysis have been defi ned in a simple and easy to understand way. The authors have used their rich professional experience to provide insights of forex and derivatives markets. In my view, this book will be an excellent ready reckoner for beginners as well as practitioners in the fields of forex and derivatives. Jitendra Jain, CFO, Corporate Finance, GMR Group I must say that this book is one of the fi nest books on derivatives written with Indian as well as global focus. The book can be used as a guide by the corporate world in hedging their foreign exchange and interest rates exposure. Such a master piece of work has been possible because of author’s practical exposure to these markets and I recommend this to all those who seek to know and understand Foreign Exchange and Interest Rate Market ‘AS IT IS’. Rajiv Bahl, General Manager (Finance) Treasury, Indian Oil Corporation Limited The book Financial Derivatives is an extremely practical and great guide to anyone entering currency markets and also to those already working in this fi eld. Concepts are very well defi ned and it includes lot of real-life examples, which are very handy to understand the true concepts underlying currency markets. I highly recommend this book to beginners in the currency markets as well as to seasoned professionals. Girish Kumar Dua, General Manager (Finance), Maruti Suzuki India Limited I sincerely feel that the topics covered are exhaustive and relevant for the current derivative users at large. The complexities of derivatives become easy through mathematical engineering, graphs and illustrations. Mukesh Khandelwal, Vice President, Finance and Commercial, Welspun Group

12 Thank You

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