Credit Default Swaps
A comprehensive professional guide to credit default swap mechanics, pricing methodologies, trading strategies, and risk management frameworks. Covers contract fundamentals, market structure, regulatory environment, and advanced portfolio applications with real-world case studies and implementation examples.
Learning Objectives
By completing this comprehensive manual, practitioners will master the mechanics and documentation of credit default swap contracts, including their legal framework, settlement procedures, and operational considerations. They will develop expertise in CDS pricing models and spread determination, encompassing both theoretical approaches and market-based methodologies used by institutional traders and risk managers. The manual provides comprehensive coverage of trading strategies and market applications, from basic hedging techniques to sophisticated relative value strategies and portfolio management approaches.
Readers will gain proficiency in risk management frameworks specific to credit derivatives, including measurement techniques, counterparty risk considerations, and regulatory compliance requirements. The content addresses the evolving market structure and regulatory environment, providing practical guidance for navigating post-crisis reforms and ongoing regulatory developments. Advanced topics include index products, exotic structures, and cross-asset applications that reflect current institutional practice.