Tuesday, July 5, 2011

options, swaps and futures -- 3 derivatives not equally important to FX

options -- eq, FX. Many bonds have embedded call/put options[1]
swaps -- FI
futures/forwards -- all

Why did the market evolve this way? Highly educational but I'm not knowledgeable.

(Commodities? slightly less "relevant" to an IT guy since there are few IT jobs in commodity trading. Partly because there's not much data or automation.)

[1] In fact an IT team was dedicated to refunding analysis i.e. how to price a proposal to an issuer to recall a bond and reissue at a lower coupon. A sizable IT team was tasked with creating an instrument of puttable floating notes. Tender Option Bond is another puttable bond.

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New York (Time Square), NY, United States
http://www.linkedin.com/in/tanbin