{"product_id":"the-futures-bond-basis-paperback","title":"The Futures Bond Basis - Paperback","description":"\u003cp\u003eby \u003cb\u003eMoorad Choudhry\u003c\/b\u003e (Author)\u003c\/p\u003e\u003cp\u003eThe 2nd edition of The Futures Bond Basis, is an updated and revised version of Professor Moorad Choudhry's succinct but in-depth look at the government bond futures contract basis. It includes essential background on contract specifications and the theory of the basis. It also covers the concept of the cheapest to deliver; price and delivery data for a sample of gilt contracts; the drivers of the basis and its dynamics; the mechanics of basis trading; a detailed explanation of gross and net basis, and an explanation of the implied repo rate. The book uses examples from the UK gilt market, although the basic principles are applicable in any bond futures market.\u003c\/p\u003e\u003ch3\u003eBack Jacket\u003c\/h3\u003e\u003cp\u003eBasis trading is an important part of the government bond markets. In this book we review the essential elements of this type of trading. Written by a former government bond market maker and proprietary bond trader, the book features: \u003c\/p\u003e\u003col\u003e \u003cli\u003eBasic concepts of forward pricing\u003c\/li\u003e \u003cli\u003eThe determinants of the basis\u003c\/li\u003e \u003cli\u003eRepo financing\u003c\/li\u003e \u003cli\u003eHedging using bond futures\u003c\/li\u003e \u003cli\u003eTrading the basis and an introduction to trading strategy\u003c\/li\u003e \u003cli\u003eThe concept of the \u003ci\u003echeapest-to-deliver\u003c\/i\u003e bond\u003c\/li\u003e \u003cli\u003eThe net basis and the \u003ci\u003eimplied repo rate\u003c\/i\u003e\n\u003c\/li\u003e \u003c\/ol\u003e \u003cp\u003eThe book is illustrated with in-depth practical examples and written in an accessible style. It will be of vital use to anyone with an interest or involvement in the government bond futures market.\u003c\/p\u003e\u003ch3\u003eAuthor Biography\u003c\/h3\u003e\u003cp\u003e\u003cb\u003eDr Moorad Choudhry\u003c\/b\u003e is Head of Treasury at KBC Financial Products in London. He is a Visiting Professor at the Department of Economics, London Metropolitan University, a Visiting Research Fellow at the ICMA Centre, University of Reading, a Senior Fellow at the Department of Mathematical Trading and Finance, Cass Business School, and a Fellow of the Securities and Investment Institute.\u003c\/p\u003e\n        \u003cdiv\u003e\n\u003cstrong\u003eNumber of Pages:\u003c\/strong\u003e 256\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eDimensions:\u003c\/strong\u003e 0.75 x 8.98 x 6.08 IN\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003ePublication Date:\u003c\/strong\u003e May 01, 2006\u003c\/div\u003e\n            ","brand":"Books by splitShops","offers":[{"title":"Default Title","offer_id":47453578887346,"sku":"9780470025895","price":92.16,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0770\/3891\/1666\/files\/706d67da78b1075b410345c317a88f69.webp?v=1778834329","url":"https:\/\/box.dadyminds.org\/products\/the-futures-bond-basis-paperback","provider":"DADYMINDS BOX","version":"1.0","type":"link"}