Foreword

The valuation and risk dimensions of financial instruments, and, to some extent, the way they behave, rest on a vast, complex set of mathematical models grouped into what is called quantitative finance. Today more than ever, it should be required that each and every one involved in financial markets or products has good command of quantitative finance. The problem is that the many books in this field are devoted either to a specific type of financial instruments, combining product description and quantitative aspects, or to a specific mathematical or statistical theory, or otherwise, with an impressive degree of mathematical formalism, which needs a high degree of competence in mathematics and quantitative methods. Alain Ruttiens' text is aiming to offer in a single book what should be needed to be known by a wide readership to master the quantitative finance at large. It covers, on the one hand, all the financial products, from the traditional spot instruments in forex, stocks, interest rates, and so on, to the most complex derivatives, and, on the other hand, the major quantitative tools designed to value them, and to assess their risk potentials. This book should therefore provide the best entry-level reference for anyone concerned in some way with financial markets and products to master their quantitative aspects, or to fill the gaps in areas with which they are less familiar.

At first sight, this ambitious objective seems hard to achieve, given the variety and the ...

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