June 2013
Intermediate to advanced
768 pages
21h 54m
English
Content preview from Financial Times Handbook of Financial Engineering, The, 3rd Edition
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21
MANAGING COMMODITY RISK
21.2 Creating commodity derivatives
21.3 Using commodity derivatives
21.4 Hybrid commodity derivatives
We have so far looked at three sources of financial risk: currency risk, interest rate risk and equity risk. Many organisations, however, are exposed to a fourth source – commodity risk. In this chapter, we will discuss the nature of commodity risk and review some of the methods by which it may be handled. Fortunately, we will not need to break much new ground here because all the tools and techniques used to manage commodity risk have exact parallels with those employed in the management of other financial risks examined in the previous four chapters. We will therefore be able to avoid repetition ...
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