1 Introduction The financial services sector in the United States is experiencing an era of
rapid innovation. These changes are fueled by the rapid improvements in the two …

The current structure of OTC derivatives markets and the various types of risk, including
systemic risk, present in these markets are discussed. Internal controls and audit procedures …

The US Department of Housing and Urban Development (HUD) and an independent
agency within HUD, the Office of Federal Housing Enterprise Oversight (OFHEO), regulate …

Delta hedging is the time-honored approach to option risk management, but it requires
frequent rebalancing to keep the risk exposure hedged and bear the associated transactions …

According to user innovation literature, users can create important innovations and the novel
functionalities embedded in those user innovations often become the sources of subsequent …

A new approach and a new mind-set are needed for the regulation of financial markets.
Under our existing trajectory, regulation will become inefficient, unwieldy, and too costly as it …

We provide new and discrete time combinatorial approaches to evaluate Parisian options.
By using generating functions, a very useful tool in lattice path enumeration, the computation …

O pior dia da história de Wall Street, de Diana B. Henriques, autora best-seller do New York
Times, é uma obra preventiva que relata a crise de 1987 e como o sistema financeiro dos …

Globalization, consolidation, increased competition, innovation, electronic technologies,
heightened attention to safety and soundness-these are the important trends that have …

The low interest rate environment of recent years has sent many investors looking for ways
to enhance returns. This has stimulated the creation of investment products with what were …