Metals Trading Handbook: A Market Companion for Users of the London Metal Exchange

ISBN-13: 9781855733473 / Angielski / Twarda / 1998 / 400 str.

Paddy Crabbe

Opis

Metals Trading Handbook, by Paddy Crabbe, offers an invaluable training manual and reference source for anyone working within the non ferrous metals industry or trading on the London Metal Exchange. At the core of its thorough analysis lies the principle that simple explanation and minimal jargon are invaluable to the practitioner.

Metals Trading Handbook offers positive advice and stimulation to those concerned with the pricing and delivery risks of non ferrous metals. It starts with simple fundamentals and moves onto more complex situations. Its central aim is to give the reader essential building blocks with which to develop a more proactive approach to solving everyday problems. The text examines the way the LME operates, how prices are formed, the significance and timing of "official settlement" prices, how risk in the forward markets occurs and changes, how risk builds up, methods of recognition and hedging the exposure to priced metal, the impact on valuations (marking to market), profit and loss and cashflow.

This is essential for those already involved in the metals business and also for the financial, investment and advisory community internationally.

• Structure and workings of the exchange
• Risk identification
• Management and trading techniques

Spis treści

Part 1 The LME today: Background, recent history and developments; Roles, clientele and other uses of LME; Market place and daily routine; Communication; Forward structure of delivery periods. Part 2 Risk identification, market instruments and uses: Risk identification: Analysis of a market book; Pricing in physical contracts; Basic elements of hedging; practical hedging; contracts - price lists - Mine production; Options. Part 3 Management regulation and control: Organisation and management; Brokers: Management, trading and office staff; Regulation, regulators and control; Matching and clearing systems; Internal control, systems and accounting.

O autorze

Paddy Crabbe began his metals life as an LME clerk and progressed to dealing in the 'Ring'. Shortly after that he set up and ran a department trading in physical metals. During which time he created and managed many hedging programmes, which combined pricing on the LME, hedging, physical delivery metal on a CIF programme and delivered works basis and foreign exchange. During that time he taught many producers and consumers how to operate on the LME and delivered lectures about the LME in several countries.