7 of 8 people found the following review helpful
The Credit Derivs MARKET, not just the products,
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This review is from: Credit Derivatives: Risk Management, Trading and Investing (The Wiley Finance Series) (Hardcover)
I unexpectedly found myself working on a computer project for a credit derivatives desk. I bought several books (Bomfin, Tavakoli, Choudhry) about credit derivatives but found they limited their discussion to just the specific products (TRS, CDS, CDS Index, Baskets, Synthetics, etc.) and their pricing analytics. Chaplin's book is the only one I've read that provides a broader view of the credit derivatives market. For instance, when he discusses the vanilla CDS product he includes such detail as the ISDA based agreement that must be signed by both seller and purchaser, the history of how the terms of the agreement evolved, and how a 'credit event' defined in the agreement is actually settled.
Chaplin's book is the 'how things really work' book of the credit derivatives market. A great resource.