Commodities and Commodity Derivatives

Thelastfewyearshavebeenawatershedforthecommodities,cashandderivativesindustry.Newregulationsandproductshaveledtoanexplosioninthecommoditiesmarkets,creatinganewassetforinvestorsthatincludeshedgefundsaswellasUniversityendowments,andhasresultedinaspectaculargrowthinspotandderivativetrading.Thisbookcovershardandsoftcommodities(energy,agricultureandmetals)andanalyses:EconomicandgeopoliticalissuesincommoditiesmarketsCommoditypriceandvolumeriskStochasticmodellingofcommodityspotpricesandforwardcurvesRealoptionsvaluationandhedgingofphysicalassetsintheenergyindustryItisrequiredreadingforenergycompaniesandutilitiespractitioners,commoditycashandderivativestradersininvestmentbanks,theAgrifoodbusiness,CommodityTradingAdvisors(CTAs)andHedgeFunds.InCommoditiesandCommodityDerivatives,HélyetteGemanshowsherpowerfulcommandofthesubjectbycombiningarigorousdevelopmentofitsmathematicalmodellingwithacompactinstitutionalpresentationofthearcanecharacteristicsofcommoditiesthatmakesthecomplexanalysisofcommoditiesderivativesecuritiesaccessibletoboththeacademicandpractitionerwhowantsadeepfoundationandabreadthofdifferentmarketapplications.Itisdestinedtobea"musthave"onthesubject.”—RobertMerton,Professor,HarvardBusinessSchool"Amarvelouslycomprehensivebookofinteresttoacademicsandpractitionersalike,byoneoftheworld'sforemostexpertsinthefield."—OldrichVasicek,founder,KMV