Introduction to Financial Market Instruments

  • Moorad Choudhry
  • Didier Joannas
  • Richard Pereira
  • Rod Pienaar
Part of the Finance and Capital Markets Series book series (FCMS)


This book is concerned with the valuation and analysis of capital market securities, and associated derivative instruments, which are not securities as such but are often labelled thus. The range of instruments is large and diverse, and it would be possible to stock a library full of books on various aspects of this subject. Space dictates that the discussion be restricted to basic, fundamental concepts as applied in practice across commercial and investment banks and financial institutions around the world. The importance of adequate, practical and accessible methods of analysis cannot be overstated, as this assists greatly in maintaining an efficient and orderly financial system. By employing sound analytics, market participants are able to determine the fair pricing of securities, and thereby whether opportunities for profit or excess return exist.


Interest Rate Cash Flow Future Contract Underlying Asset Cash Market 
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Selected Bibliography and References

  1. Choudhry, M. Banking Asset–Liability Management, Wiley Asia, 2005.Google Scholar
  2. Fama, E. ‘Short-term interest rates as predictors of inflation’, American Economic Review, 1975, pp. 269–82.Google Scholar
  3. Fisher, I. The Theory of Interest, Macmillan, 1930.Google Scholar
  4. Galitz, L. Financial Engineering, rev. edn, FT Pitman, 1995, chs 10–11.Google Scholar
  5. Higson, C. Business Finance, 2nd edn, Butterworths, 1995.Google Scholar
  6. Kolb, R. Futures, Options and Swaps, 3rd edn, Blackwell, 2000.Google Scholar
  7. Van Horne, J. Financial Management and Policy, 10th edn, Prentice Hall, 1995.Google Scholar

Copyright information

© Moorad Choudhry, Didier Joannas, Richard Pereira and Rod Pienaar 2005

Authors and Affiliations

  • Moorad Choudhry
    • 1
  • Didier Joannas
    • 2
  • Richard Pereira
    • 3
  • Rod Pienaar
    • 4
  1. 1.KBC Financial ProductsUK
  2. 2.Hong KongChina
  3. 3.Nomura plcUK
  4. 4.UBS AGUK

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