ESCP Europe

"The last few years have been a watershed for the commodities, cash and derivatives industry. New regulations and products have led to an explosion in the commodities markets, creating a new asset class for investors that includes hedge funds as well as University endowments, and has resulted in a spectacular growth in spot and derivative trading. This book covers hard and soft commodities (energy, agriculture and metals) and analyses: Economic and geopolitical issues in commodities markets. Commodity price and volume risk. Stochastic modelling of commodity spot prices and forward curves. Real options valuation and hedging of physical assets in the energy industry. It is required reading for energy companies and utilities practitioners, commodity cash and derivatives traders in investment banks, the Agrifood business, Commodity Trading Advisors (CTAs) and Hedge Funds" by Worldcat.

1. Fundamentals of commodity spot and futures markets: instruments, exchanges and strategies --- 2. Equilibrium relationships between spot prices and forward prices --- 3. Stochastic modeling of commodity price processes --- 4. PlainVanilla option pricing and hedging: from stocks to commodities --- 5. Riskneutral valuation of plainvanilla options --- 6. MonteCarlo simulations and analytical formulae for Asian, Barrier and Quanto options --- 7. Agricultural commodity markets --- 8. The structure of metal markets and metal prices --- 9. The oil market as a world market --- 10. The gas market as the energy market of the next decades --- 11. Spot and forward electricity markets --- 12. Commodity swaptions, swing contracts and real options in the energy industry --- 13. Coal, emissions and weather --- 14. Commodities as a new asset class..