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  3. Mastering Exchange-Traded Equity Derivatives: A Step-by-Step Guide to the Markets, Applications & Risks

Mastering Exchange-Traded Equity Derivatives: A Step-by-Step Guide to the Markets, Applications & Risks, 1st edition

  • David Ford

Published by FT Press (December 17th 1996) - Copyright © 1997

1st edition

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Overview

Covers every aspect of equity derivatives markets for the market professional, including: the markets and how they work; the key players; the instruments traded; trading strategies and techniques; and risk management.

Table of contents



Introduction.


Acknowledgements.


1. The Market Place—Background and History.

History of futures and options. London Traded Options Market (LTOM). Merger of LTOM and LIFFE. How OMLX came to London.


2. Market Structure.

Introduction. London International Financial Futures and Options Exchange (LIFFE). London Securities and Derivatives Exchange (OMLX). Regulation of the industry. Compliance—Mark Satterthwaite, ED&F Mann Ltd. The Securities and Futures Authority—David Jones, SFA.


3. Trading and Clearing.

Introduction. Open outcry versus screen-based trading—Andrew Reierson, financial journalist. FT-SE 100 futures trading. OMLX. Product development—Julian Perrins, OMLX. Marketing and promotional support—Tony Hawes, Equity Products, LIFFE. Clearing and settlement—Jacqueline Totley, Monument Derivatives Ltd.


4. Basic Characteristics of Options and Futures.

Introduction. Traded options. What is a futures contract? Option pricing. Basic trades. Futures trades. Flex options. Index traded options.


5. Uses and Benefits of Index and Equity Derivatives.

Introduction. Risk. Portfolio protection. Asset allocation. Performance enhancement. Anticipatory hedging. Cash flow management—buy write.


6. Important Guidelines.

Check list for fund managers. Corporate events. Trading rules/guidelines. Taxation of options for private investors. The regulation and taxation of futures and options inUK funds. Barings.


Appendices.

1. Derivative instruments: risk disclosure statement. 2. IMRO notice to members—the use of index derivatives for efficient portfolio management. 3. The Inland Revenue Statement of Practice SP14/91. 4. LIFFE index and equity futures and options. 5. Contract specifications.


Glossary.


Index.

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