Understanding Credit Derivatives and Related Instruments - Tapa dura

"This is a great place to start if you want to learn how credit derivatives work and why they are used. The book also provides a highly accessible introduction to credit risk modeling. I warmly recommend it."  --David Lando, Copenhagen Business School

"This book is quite an achievement. It provides a wealth of institutional detail, covers the practicals behind an extensive menu of instruments, discusses the regulatory environment and puts together a comprehensive valuation and risk measurement tool kit. This kind of coverage would often require referencing two, if not three, separate publications."  --Jan Ericsson, McGill University 

Every reader familiar with mid-level mathematics who wants to understand the functioning of the derivatives markets (in both practical and academic contexts) can fully satisfy his or her interests with the comprehensive assessments in this book.

• Explores the role that credit derivatives played during the economic crisis, both as hedging instruments and as vehicles that potentially magnified losses for some investors
• Comprehensive overview of single-name and multi-name credit derivatives in terms of market specifications, pricing techniques, and regulatory treatment
• Updated edition uses current market statistics (market size, market participants, and uses of credit derivatives), covers the application of CDS technology to other asset classes (CMBX, ABX, etc.), and expands the treatment of individual instruments to cover index products, and more