Codes of Finance : : Engineering Derivatives in a Global Bank / / Vincent Antonin Lépinay.

• Superior document: Title is part of eBook package: De Gruyter Princeton University Press eBook-Package Backlist 2000-2013
• VerfasserIn: Lépinay, Vincent Antonin,
• Place / Publishing House: Princeton, NJ : : Princeton University Press, , [2011]; ©2011
• Year of Publication: 2011
• Edition: Course Book
• Language: English
• Physical Description: 1 online resource (304 p.) :; 25 line illus. 1 table.

The financial industry's invention of complex products such as credit default swaps and other derivatives has been widely blamed for triggering the global financial crisis of 2008. In Codes of Finance, Vincent Antonin Lépinay, a former employee of one of the world's leading investment banks, takes readers behind the scenes of the equity derivatives business at the bank before the crisis, providing a detailed firsthand account of the creation, marketing, selling, accounting, and management of these financial instruments-and of how they ultimately created havoc inside and outside the bank.

Table of Contents

Frontmatter -- Contents -- Acknowledgments -- Preface Financial Innovation from within the Bank -- Prologue A Day in a Trader's Life -- Introduction Questioning Finance -- Part I. From Models to Books -- From Models to Books -- Chapter 1 Thinking Financially and Exploring the Code -- Chapter 2 Hedging and Speculating with Portfolios -- Part II. Topography of a Secret Experiment -- Topography of a Secret Experiment -- Chapter 3 The Trading Room as a Market -- Chapter 4 The Memory of Banking -- Part III. Porous Banking: Clients and Investors in Search of Accounts -- Porous Banking: Clients and Investors in Search of Accounts -- Chapter 5 Selling Finance and the Promise of Contingency -- Chapter 6 The Costs of Price -- Chapter 7 Reverse Finance -- Conclusion What Good Are Derivatives? -- Appendix A Capital Guarantee Product: The Full Prospectus -- Notes -- Bibliography -- Index