Exotic Commodities

Exotic Commodities is the first book to chart the consumption and spread of foreign goods in China from the mid-nineteenth century to the advent of communism in 1949. Richly illustrated and revealing, this volume recounts how exotic commodities were acquired and adapted in a country commonly believed to have remained "hostile toward alien things" during the industrial era. China was not immune to global trends that prized the modern goods of "civilized" nations. Foreign imports were enthusiastically embraced by both the upper and lower classes and rapidly woven into the fabric of everyday life, often in inventive ways. Scarves, skirts, blouses, and corsets were combined with traditional garments to create strikingly original fashions. Industrially produced rice, sugar, wheat, and canned food revolutionized local cuisine, and mass produced mirrors were hung on doorframes to ward off malignant spirits. Frank Dikötter argues that ordinary people were the least inhibited in acquiring these products and therefore the most instrumental in changing the material culture of China. Landscape paintings, door leaves, and calligraphy scrolls were happily mixed with kitschy oil paintings and modern advertisements. Old and new interacted in ways that might have seemed incongruous to outsiders but were perfectly harmonious to local people. This pragmatic attitude would eventually lead to China's own mass production and export of cheap, modern goods, which today can be found all over the world. The nature of this history raises the question, which Dikötter pursues in his conclusion: If the key to surviving in a fast-changing world is the ability to innovate, could China be more in tune with modernity than Europe?

This is the first systematic and extensive book on exotic options. The book covers essentially all popular exotic options currently trading in the Over-the-Counter (OTC) market, from digitals, quantos, spread options, lookback options, Asian options, vanilla barrier options, to various types of exotic barrier options and other options. Each type of exotic options is largely written in a separate chapter, beginning with the basic concepts of the products and then moving on to how to price them in closed-form solutions. Many pricing formulae and analyses which have not previously appeared in the literature are included and illustrated with detailed examples. It will be of great interest to traders, marketers, analysts, risk managers, professors, graduate students, and anyone who is interested in what is going on in the rapidly changing financial market.

This is the first systematic and extensive book on exotic options. The book covers essentially all popular exotic options currently trading in the Over-the-Counter (OTC) market, from digitals, quantos, spread options, lookback options, Asian options, vanilla barrier options, to various types of exotic barrier options and other options. Each type of exotic options is largely written in a separate chapter, beginning with the basic concepts of the products and then moving on to how to price them in closed-form solutions. Many pricing formulae and analyses which have not previously appeared in the literature are included and illustrated with detailed examples. It will be of great interest to traders, marketers, analysts, risk managers, professors, graduate students, and anyone who is interested in what is going on in the rapidly changing financial market.

TodayOs growing fascination with flows of people, commodities, technology, capital, images and ideas across national and other boundaries poses fresh theoretical and methodological challenges to anthropology. Commodities offer a particularly useful window on globalization because they, unlike electronically conveyed capital, transport cultural messages. These ideological or symbolic transfers are of particular interest to economic anthropology. This collection considers how conceptions and roles of commodities may change in response to widening spheres of economic interaction and exchange. The essays in this volume are ordered under two themes. Those included in the first section, OCommodities in a Globalizing Marketplace,O address historically and culturally defined variations in meanings and practices associated with commodities in globalizing markets. In Part Two, OThe Circulation and Revaluation of CommoditiesO, contributors analyze how commodity producersO experiences are informed by colonial and post-colonial history, state directives in the marketplace, and locations in dependent or marginalized regions. The chapters all focus on the production process as it responds to, is distorted by and increasingly is controlled by the determination of the value of those commodities outside a OlocalityO.

Parrots and snakes, wild cats and monkeys---exotic pets can now be found everywhere from skyscraper apartments and fenced suburban backyards to roadside petting zoos. In Animal Traffic Rosemary-Claire Collard investigates the multibillion-dollar global exotic pet trade and the largely hidden processes through which exotic pets are produced and traded as lively capital. Tracking the capture of animals in biosphere reserves in Mexico, Guatemala, and Belize; their exchange at exotic animal auctions in the United States; and the attempted rehabilitation of former exotic pets at a wildlife center in Guatemala, Collard shows how exotic pets are fetishized both as commodities and as objects. Their capture and sale sever their ties to complex socio-ecological networks in ways that make them appear as if they do not have lives of their own. Collard demonstrates that the enclosure of animals in the exotic pet trade is part of a bioeconomic trend in which life is increasingly commodified and objectified under capitalism. Ultimately, she calls for a “wild life” politics in which animals are no longer enclosed, retain their autonomy, and can live for the sake of themselves.

Master's Thesis from the year 2005 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, University Of Wales Institute, Cardiff, language: English, abstract: The foreign exchange market is the worlds largest market with daily turnover exceeding trillions. With non-stop trading opportunities from Monday to Friday one can take advantage of several profitable set ups within the week. This can be done either by analyzing the fundamentals or technicals of underlying currency pairs. Options present one with the added advantage that one's risk is limited to the amount invested. This study looks at the advantages of exotic options as a tool in Forex trading. By taking the buy-sell decision out of the equation these options offer some key advantages over their regular counterparts.

Commodity Option Pricing: A Practitioner’s Guide covers commodity option pricing for quantitative analysts, traders or structurers in banks, hedge funds and commodity trading companies. Based on the author’s industry experience with commodity derivatives, this book provides a thorough and mathematical introduction to the various market conventions and models used in commodity option pricing. It introduces the various derivative products typically traded for commodities and describes how these models can be calibrated and used for pricing and risk management. This book has been developed with input from traders and features examples using real-world data, together with relevant up-to-date academic research. This book includes practical descriptions of market conventions and quote codes used in commodity markets alongside typical products seen in broker quotes and used in calibration. Also discussed are commodity models and their mathematical derivation and volatility surface modelling for traded commodity derivatives. Gold, silver and other precious metals are addressed, including gold forward and gold lease rates, as well as copper, aluminium and other base metals, crude oil and natural gas, refined energy and electricity. There are also sections on the products encountered in commodities such as crack spread and spark spread options and alternative commodities such as carbon emissions, weather derivatives, bandwidth and telecommunications trading, plastics and freight. Commodity Option Pricing is ideal for anyone working in commodities or aiming to make the transition into the area, as well as academics needing to familiarize themselves with the industry conventions of the commodity markets.

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 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. In Commodities and Commodity Derivatives, Hélyette Geman shows her powerful command of the subject by combining a rigorous development of its mathematical modelling with a compact institutional presentation of the arcane characteristics of commodities that makes the complex analysis of commodities derivative securities accessible to both the academic and practitioner who wants a deep foundation and a breadth of different market applications. It is destined to be a "must have" on the subject.” —Robert Merton, Professor, Harvard Business School "A marvelously comprehensive book of interest to academics and practitioners alike, by one of the world's foremost experts in the field." —Oldrich Vasicek, founder, KMV