{"product_id":"from-instruments-to-strategies-fabozzi-frank-j-9781800619395","title":"From Instruments to Strategies","description":"\u003cp\u003eThis book is an application-first, practice-grounded guide to derivatives. Its aim is to show how derivatives are used by asset management firms, corporations, and commercial and investment banks to solve real financial problems without turning the reader into a pricing specialist. It emphasizes application over abstraction while still covering valuation frameworks in their practical context.\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eThe book adopts a modular structure that lets readers engage with derivatives from multiple entry points. Part 1 examines why organizations adopt derivatives, establishing the conceptual foundations that govern their use and misuse. Part 2 surveys the major derivative instruments and market structures, including forwards, futures, swaps, options, and structured and credit products. Part 3 turns to derivative strategies, covering speculative and hedging applications, portfolio integration, and backtesting, and reframes earlier concepts in terms of implementation and real-world applications. Part 4 examines institutional practice across corporate treasury, commercial banking, and investment banking, showing how identical instruments serve different purposes across balance sheets and client settings. Part 5 develops no-arbitrage valuation for forwards and futures, the probabilistic foundations of option pricing, discrete-time lattice methods, the Black-Scholes-Merton framework, and swap valuation, emphasizing assumptions, limitations, and market realities.\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003ePedagogically, From Instruments to Strategies builds intuition before formalism. Market structure essentials, such as clearing, daily mark-to-market, and margining for exchange-traded derivatives, are presented to link theory with trading mechanics. The objective is to demystify derivatives, not as villains or saviors, but as tools whose impact depends on how they are used.\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Fabozzi Frank J\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 1800619391\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9781800619395\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Wspc (Europe)\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 04\/19\/2026\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 558\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 2.00lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.00h x 6.00w x 1.19d","brand":"Fabozzi Frank J","offers":[{"title":"Hardcover","offer_id":49001503162623,"sku":"9781800619395","price":168.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.whiterainbookhouse.com\/products\/from-instruments-to-strategies-fabozzi-frank-j-9781800619395","provider":"WR Book House","version":"1.0","type":"link"}