mastering foreign exchange & currency options: a practical guide to the new marketplace (2nd Edition) (Financial Times Series) (Paperback)

by Francesca Taylor (Author)
Key Phrases: currency options, settlement members, real time gross settlement, Mastering Foreign Exchange, Moneyline Telerate, Reserve District (more...)

Editorial Reviews

Product Description
The floating exchange rate environment has created a need for banks and their corporate customers to arrange their currency exposure on an active and commercial basis. This book addresses current practice and future issues and is written for both new entrants into the markets and for seasoned professionals seeking to refresh or broaden their knowledge. The book covers issues such as: A radical new settlement system for FX will be going live in the 3rd quarter - named continuous linked settlement or CLS for short, Foreign Exchange Portals Atriax and FXAII, Electronic Broking EBS, The increased profile of the spreadbetting agencies in the FX markets e.g. IG Index, Emerging Markets, and New Exotic Currency Options.

From the Back Cover

mastering foreign exchange & currency options

a practical guide to the new marketplace

The last ten years have seen a revolution inthe global foreign exchange markets. It is no longer enough for banks and their corporate customers to arrange their currency hedging and trading on an active and commercial basis. It is now vital to understand how new technology has impacted the market.

The author fully examines key initiatives such as e-forex, TWIST and CLS and the new option to trade FX outside the banking markets, making this book an essentiual tool for all who need to keep up with this fast changing market.

Eleven of the twenty-one chapters are written by guest practitioners who provide a unique insight into the forex market.

This important new edition of Mastering Foreign Exchange & Currency Options will enable you to get your currency dealing right. It is the essential handbook for any player in the forex market. It is written for new entrants seeking to master the fast developing world of forex trading and seasoned professionals needing to keep informed of the latest developments in this sector. With the introduction of new technology this is often seen as a daunting topic to get to grips with.

Both hedgers seeking to remoce or manage their currency risk and speculators seeking to take currency risk in the hope of making profit will benefit from this book. The advent of more sophisticated currency derivatives has also raised the stakes.

This book contains practical guidance on:

• Currency Classifications
• History and economics of forex
• Technology and the markets
• Mechanics of spot forex and forward forex
• Emerging market foreign exchange
• Forex trading for the individual investor
• Currency risk management
• Background, development and mechanics of currency options
• Exotic options and transparency
• Innovations in e-foreign exchange
• Multi-bank electronic trading
• Electronic procurement of fx: the corporate perspectives
• TWIST
• Technical Analysis
• Continuous linked settlement (CLS)

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Product Details

• Paperback: 432 pages
• Publisher: FT Press; 2 edition (August 27, 2004)
• Language: English
• ISBN-10: 0273662953
• ISBN-13: 978-0273662952
• Product Dimensions: 9.6 x 6.8 x 0.9 inches
• Shipping Weight: 1.7 pounds (View shipping rates and policies)
• Average Customer Review: 3.0 out of 5 stars See all reviews (3 customer reviews)
• Amazon.com Sales Rank: #874,086 in Books (See Bestsellers in Books)

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Customer Reviews

Most Helpful Customer Reviews

13 of 14 people found the following review helpful:

3.0 out of 5 stars An ok book but not for the beginner, June 2, 2005

By	A. Ikeda (Seoul, South Korea) - See all my reviews (REAL NAME)

This book has a well written chapter on the economics of foreign exchange. This books' chapters on e-foreign exchange and innovations in e-fx are rather useless for the beginner and also outdated.

The chapters on technical analysis and the individual trainer are short and to the point. It's good information but not enough 'meat' to assist the individual to make better trades. More or the same information can be found in other books that also explain in more details.

There are several chapters that are mainly written for large institutional traders which I didnt find very useful other than getting a 'birds-eye' view from their position.

In my opinion, this book is more for intermediate traders but I wouldn't recommend it to beginners.

9 of 10 people found the following review helpful:

5.0 out of 5 stars The one FX book to grab when you need to know it all!, April 20, 2006

By	J. Brooks (Las Vegas, Nv. United States) - See all my reviews (REAL NAME)

After reading almost 50 books on the Forex Market and trading the markets live for a few years, I decided that Ms. Taylor's Mastering Foreign Exchange and Currency Options: A Practical Guide to the New Marketplace is the one Forex Book I would take with me if forced to select one. Why? Because it is the only book to somehow comprehensively cover topics as diverse as Currenex, the application of Technical Analysis to FX, Buy Side vs. Sell Side FX Dealer dynamics, Corporate Treasury Hedging, and of course a fairly essential history of both the economics of foreign exchange and the fundamentals relevant to trading it. The book is only 380 pages and most certainly does meet the needs of entry level traders. Intermediate traders or professionals will certainly find topics covered which prompt an occasional: " I didn't know that !". Again, Ms. Taylor has given us the essentials of both the theoretical dimensions of Foreign Exchange pricing both Spot, Futures, and Options AND the nitty, gritty incidentals of how the technology works to make the market happen. What most books on Forex fail to do - this book does achieve. Few Forex primers squarely place Spot Forex into the Inter-Bank context where it belongs. Few books adequately integrate information about Corporate Treasury concerns with the nature of Central Bank Intervention. Trading Forex on the Retail level without understanding CLS or the Flow Information available through Currenex is like Racing Nascar without knowing how to change a tire. Ms. Taylor's book achieves this through the gift of being able to simplify, coordinate, and render the essential of a topic without loss of rigor or information. Usually books achieving this are a dense read, but this book is not - and that is the work of a great teacher.

1.0 out of 5 stars Waste of time, April 15, 2009

By	Henry T. K. Hau - See all my reviews (REAL NAME)

Claims to be a practical guide but is padded out with useless chapters on history and economics. The chapters on practical topics come very late in the book and are by comparision very short and deficient in explanations. Almost no coverage of operational topics, so "practical" only in the front office sense and I have found better material for free on google.