{"product_id":"commodity-derivatives-9781119349105","title":"Commodity Derivatives","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003eCommodity Derivatives \u003cp\u003eIn the newly revised Second Edition of \u003ci\u003eCommodity Derivatives: Markets and Applications\u003c\/i\u003e, expert trading educator and author Neil Schofield delivers a comprehensive overview of a wide variety of commodities and derivatives. Beginning with discussions of commodity markets generally before moving on to derivative valuation and risk management, the author then dives into individual commodity markets, like gold, base metals, crude oil, natural gas, electricity, and more.\u003c\/p\u003e\u003cp\u003eSchofield relies on his extensive experience at Barclays Investment Bank to offer readers detailed examinations of commodity finance and the use of commodities within a wider investmentportfolio.\u003c\/p\u003e\u003cp\u003eThe second edition includes discussions of critical new topics like dual curve swap valuation, optionvaluation within a negative price environment using the Bachelier model, volatility skews, smiles,  smirks, term structures for major commodities, and more. You'll find case studies on corporate fa\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003c\/p\u003e\u003cp\u003ePreface xi\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Fundamentals of Commodities and Derivatives 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e1.1 Market overview 2\u003c\/p\u003e \u003cp\u003e1.2 Market participants 3\u003c\/p\u003e \u003cp\u003e1.3 Traded versus non-traded commodities 6\u003c\/p\u003e \u003cp\u003e1.4 Forward contracts 8\u003c\/p\u003e \u003cp\u003e1.5 Futures 8\u003c\/p\u003e \u003cp\u003e1.6 Swaps 10\u003c\/p\u003e \u003cp\u003e1.7 Options 11\u003c\/p\u003e \u003cp\u003e1.8 Exotic options 14\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Derivative Valuation 18\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e2.1 Asset characteristics 18\u003c\/p\u003e \u003cp\u003e2.2 Commodity prices and the economic cycle 18\u003c\/p\u003e \u003cp\u003e2.3 Principles of commodity valuation 19\u003c\/p\u003e \u003cp\u003e2.4 Forward price curves 21\u003c\/p\u003e \u003cp\u003e2.5 Commodity swap valuation 32\u003c\/p\u003e \u003cp\u003e2.6 Principles of option valuation 39\u003c\/p\u003e \u003cp\u003e2.7 Measures of option risk management 44\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Risk Management Principles 58\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e3.1 Defining risk 58\u003c\/p\u003e \u003cp\u003e3.2 Commodity market participants – the time dimension 60\u003c\/p\u003e \u003cp\u003e3.3 Hedging corporate risk exposures 61\u003c\/p\u003e \u003cp\u003e3.4 A framework for analysing corporate risk 62\u003c\/p\u003e \u003cp\u003e3.5 Hedging customer exposures 63\u003c\/p\u003e \u003cp\u003e3.6 Trading risk management 66\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Gold 76\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e4.1 The market for gold 76\u003c\/p\u003e \u003cp\u003e4.2 Gold price drivers 81\u003c\/p\u003e \u003cp\u003e4.3 The gold leasing and deposit market 91\u003c\/p\u003e \u003cp\u003e4.4 Hedging 96\u003c\/p\u003e \u003cp\u003e4.5 Trading gold 106\u003c\/p\u003e \u003cp\u003e4.6 Yield enhancement 111\u003c\/p\u003e \u003cp\u003e4.7 Summary 112\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Base Metals 114\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e5.1 Overview of base metal production 114\u003c\/p\u003e \u003cp\u003e5.2 The copper lifecycle 115\u003c\/p\u003e \u003cp\u003e5.3 Aluminium 119\u003c\/p\u003e \u003cp\u003e5.4 The Steel market 120\u003c\/p\u003e \u003cp\u003e5.5 The London Metal Exchange 122\u003c\/p\u003e \u003cp\u003e5.6 Base metal price drivers 130\u003c\/p\u003e \u003cp\u003e5.7 Electric Vehicles 133\u003c\/p\u003e \u003cp\u003e5.8 Structure of market prices 134\u003c\/p\u003e \u003cp\u003e5.9 Hedges for aluminium consumers in the automotive sector 139\u003c\/p\u003e \u003cp\u003e5.10 Summary 157\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Crude Oil 159\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e6.1 Overview of energy markets 159\u003c\/p\u003e \u003cp\u003e6.2 The value of crude oil 159\u003c\/p\u003e \u003cp\u003e6.3 An overview of the physical supply chain 163\u003c\/p\u003e \u003cp\u003e6.4 Refining crude oil 165\u003c\/p\u003e \u003cp\u003e6.5 The demand for and supply of crude oil 172\u003c\/p\u003e \u003cp\u003e6.6 Price drivers 179\u003c\/p\u003e \u003cp\u003e6.7 The price of crude oil 189\u003c\/p\u003e \u003cp\u003e6.8 Trading crude oil and refined products 195\u003c\/p\u003e \u003cp\u003eNotes 209\u003c\/p\u003e \u003cp\u003e6.9 Managing price risk along the supply chain 212\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Natural Gas 237\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e7.1 Formation of natural gas 237\u003c\/p\u003e \u003cp\u003e7.2 Measuring natural gas 238\u003c\/p\u003e \u003cp\u003e7.3 The physical supply chain 238\u003c\/p\u003e \u003cp\u003e7.4 Deregulation and re-regulation 242\u003c\/p\u003e \u003cp\u003e7.5 The demand for and supply of natural gas 245\u003c\/p\u003e \u003cp\u003e7.6 Natural gas prices 250\u003c\/p\u003e \u003cp\u003e7.7 Natural gas price drivers 257\u003c\/p\u003e \u003cp\u003e7.8 Trading natural gas 260\u003c\/p\u003e \u003cp\u003e7.9 Natural gas derivatives 263\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Electricity 280\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e8.1 What is electricity? 280\u003c\/p\u003e \u003cp\u003e8.2 The physical supply chain 283\u003c\/p\u003e \u003cp\u003e8.3 Market structure and regulation 285\u003c\/p\u003e \u003cp\u003e8.4 Price drivers of electricity 291\u003c\/p\u003e \u003cp\u003e8.5 Trading electricity – an overview 301\u003c\/p\u003e \u003cp\u003e8.6 Electricity derivatives 313\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Plastics 332\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e9.1 The chemistry of plastic 332\u003c\/p\u003e \u003cp\u003e9.2 The production of plastic 333\u003c\/p\u003e \u003cp\u003e9.3 Monomer production 334\u003c\/p\u003e \u003cp\u003e9.4 Polymerisation 334\u003c\/p\u003e \u003cp\u003e9.5 Applications of plastics 335\u003c\/p\u003e \u003cp\u003e9.6 Summary of the plastics supply chain 336\u003c\/p\u003e \u003cp\u003e9.7 Price determination 336\u003c\/p\u003e \u003cp\u003e9.8 Plastic price drivers 337\u003c\/p\u003e \u003cp\u003e9.9 Forwards and swaps 338\u003c\/p\u003e \u003cp\u003e9.10 Option strategies 340\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Bulk Commodities 341\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e10.1 The basics of coal 341\u003c\/p\u003e \u003cp\u003e10.2 The demand for and supply of coal 343\u003c\/p\u003e \u003cp\u003e10.3 Coal – the physical supply chain 346\u003c\/p\u003e \u003cp\u003e10.4 Coal derivatives 349\u003c\/p\u003e \u003cp\u003e10.5 Iron ore 353\u003c\/p\u003e \u003cp\u003e10.6 Freight markets – the fundamentals 355\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Climate and Weather 368\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e11.1 The science of climate change 368\u003c\/p\u003e \u003cp\u003e11.2 The consequences of climate change 371\u003c\/p\u003e \u003cp\u003e11.3 The argument against climate change 372\u003c\/p\u003e \u003cp\u003e11.4 History of human action against climate change 373\u003c\/p\u003e \u003cp\u003e11.5 Price drivers of emissions markets 376\u003c\/p\u003e \u003cp\u003e11.6 EU Emission Trading System 379\u003c\/p\u003e \u003cp\u003e11.7 Emission derivatives 384\u003c\/p\u003e \u003cp\u003e11.8 Weather derivatives 388\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Agriculture 394\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e12.1 Agricultural markets 394\u003c\/p\u003e \u003cp\u003e12.2 Definitions 394\u003c\/p\u003e \u003cp\u003e12.3 Agricultural products 395\u003c\/p\u003e \u003cp\u003e12.4 Soft commodities 403\u003c\/p\u003e \u003cp\u003e12.5 Ethanol 409\u003c\/p\u003e \u003cp\u003e12.6 Price drivers 412\u003c\/p\u003e \u003cp\u003e12.7 Exchange traded agricultural and ethanol derivatives 421\u003c\/p\u003e \u003cp\u003e12.8 Over-the-counter agricultural derivatives 426\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 Commodity-Linked Financing 433\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e13.1 The financing need 433\u003c\/p\u003e \u003cp\u003e13.2 Project finance 437\u003c\/p\u003e \u003cp\u003e13.3 Working capital and the asset conversion cycle 440\u003c\/p\u003e \u003cp\u003e13.4 Longer-term debt funding solutions 454\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14 Commodity Investing 463\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e14.1 Commodity investors 463\u003c\/p\u003e \u003cp\u003e14.2 Preferred instruments 465\u003c\/p\u003e \u003cp\u003e14.3 Market size 465\u003c\/p\u003e \u003cp\u003e14.4 Rationale for investing in commodities 466\u003c\/p\u003e \u003cp\u003e14.5 Commodity indices 469\u003c\/p\u003e \u003cp\u003e14.6 Total Return Swaps 478\u003c\/p\u003e \u003cp\u003e14.7 Exchange traded products (ETPs) 481\u003c\/p\u003e \u003cp\u003e14.8 Structured products 487\u003c\/p\u003e \u003cp\u003eGlossary 499\u003c\/p\u003e \u003cp\u003eBibliography 507\u003c\/p\u003e \u003cp\u003eBiography 510\u003c\/p\u003e \u003cp\u003eIndex 511\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":49407036588375,"sku":"9781119349105","price":64.6,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9781119349105.jpg?v=1730497956","url":"https:\/\/bookcurl.com\/products\/commodity-derivatives-9781119349105","provider":"Book Curl","version":"1.0","type":"link"}