Forwards, futures, and swaps are contractual agreements that establish transactions to be executed at a future date. Advantages of these contracts (derivatives) over owning the underlying asset include substantively lower transaction costs, and the possibility of circumventing trading...

Intro -- Title Page -- Copyright -- Table of Contents -- Preface -- Acknowledgments -- About the Author -- Part One: Introduction to Forwards, Futures, and Options -- Chapter 1: Forwards and Futures -- Introduction -- 1.1 Forward contract characteristics -- 1.2 Long forward payoff -- 1.3 Long...