Credit Derivatives and the Management of Risk

Credit derivatives are revolutionising the world of investment. But without a firm understanding of their mechanics and their bottom-line impact, these hot financial instruments can bring devastating losses. An international authority on risk management, Dr. Dimitris N. Chrorafas draws on his own experience and the insights of over 70 senior executives at nearly 50 organisations worldwide to bring to the reader the market for credit derivatives, the instruments which make trading in credit derivatives possible and the models which are applicable for the management of credit risk.