Global Repo Markets: Instruments and Applications

by Moorad Choudhry

Overview

Repo is a well-established financial instrument and a vital part of maintaining capital market liquidity and efficiency. Repo markets have experienced considerable growth in recent yeras, and repo is traded in both developed and emerging market economies. This book provides a comprehensive description, explanation and analysis of one of the most important instruments in the global money markets today. It includes:

• Trade illustrations, work examples and case studies
• Both bond repo and equity repo
• A detailed study of the futures-bond basis and the implied repo rate
• Market conventions, settlement, legal and accounting issues
• The role of repo in banking asset-liability management
• Written by an experienced repo trader, this book is vital reading for anyone with an involvement in repo and the money markets.

Product Details

ISBN-13:	9781118178966
Publisher:	Wiley
Publication date:	12/07/2011
Series:	Wiley Finance , #741
Sold by:	JOHN WILEY & SONS
Format:	eBook
Pages:	640
File size:	14 MB
Note:	This product may take a few minutes to download.

About the Author

Moorad Choudhry is Head of Treasury at KBC Financial Products  in London. He previously worked as a government bond trader at ABN Amro Hoare Govett Limited and Hambros Bank Limited, and in structured finance services at JPMorgan Chase Bank.

Dr. Choudhry is a Visiting Professor at the Department of Economics, London Metropolitan University, and a Fellow of the Securities Institute in the City of London. He is co-author with Professor Frank Fabozzi of The Global Money Markets

Table of Contents

Foreword.

Preface.

PART I: THE REPO INSTRUMENT AND THE DEBT CAPITAL MARKETS.

Chapter 1. Intro to Repo.

Chapter 2. Market Background: The Bond Markets.

Chapter 3. Market Background: The Markets.

Chapter 4. The Repo Instrument.

Chapter 5. Uses and Economic Functions of Repo. 

Chapter 6. Repo and Structured Financial Products.

Chapter 7. An Introduction to Money Market Trading and Hedging.

Chapter 8. An Introduction to Banking Asset and Liability Management (ALM).

Chapter 9. The United Kingdom Gilt Repo Market.

Chapter 10. Selected Country Repo Markets.

PART II: INSTITUTIONAL TREATMENT OF REPO.

Chapter 11. Repo Dealing Risk.

Chapter 12. Accounting, Tax and Capital Issues.

Chapter 13. Legal and Documentation Issues.

Chapter 14. Repo Netting and Electronic Trading.

Chapter 15. Equity Repo.

PART III: BASIC TRADING AND THE IMPLIED REPO RATE.

Chapter 16. Basic Trading and the Implied Repo Rate: Part I.

Chapter 17. Basic Trading and the Implied Repo Rate: Part II.

Chapter 18. An Introduction to the Fundamentals of Basic Trading.

Glossary.

Author Index.

Index.