Jumat, 25 Oktober 2013

[V746.Ebook] Download Ebook C# for Financial Markets, by Daniel J. Duffy, Andrea Germani

Download Ebook C# for Financial Markets, by Daniel J. Duffy, Andrea Germani

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C# for Financial Markets, by Daniel J. Duffy, Andrea Germani

C# for Financial Markets, by Daniel J. Duffy, Andrea Germani



C# for Financial Markets, by Daniel J. Duffy, Andrea Germani

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C# for Financial Markets, by Daniel J. Duffy, Andrea Germani

A practice-oriented guide to using C# to design and program pricing and trading models

In this step-by-step guide to software development for financial analysts, traders, developers and quants, the authors show both novice and experienced practitioners how to develop robust and accurate pricing models and employ them in real environments. Traders will learn how to design and implement applications for curve and surface modeling, fixed income products, hedging strategies, plain and exotic option modeling, interest rate options, structured bonds, unfunded structured products, and more. A unique mix of modern software technology and quantitative finance, this book is both timely and practical. The approach is thorough and comprehensive and the authors use a combination of C# language features, design patterns, mathematics and finance to produce efficient and maintainable software.

Designed for quant developers, traders and MSc/MFE students, each chapter has numerous exercises and the book is accompanied by a dedicated companion website, http://www.datasimfinancial.com/forum/viewforum.php?f=196&sid=f30022095850dee48c7db5ff62192b34, providing all source code, alongside audio, support and discussion forums for readers to comment on the code and obtain new versions of the software.

  • Sales Rank: #1287277 in Books
  • Brand: Brand: Wiley
  • Published on: 2013-03-04
  • Original language: English
  • Number of items: 1
  • Dimensions: 9.90" h x 2.00" w x 6.90" l, 3.45 pounds
  • Binding: Hardcover
  • 856 pages
Features
  • Used Book in Good Condition

From the Back Cover

C# is a modern object-oriented programming language that runs under the Microsoft .NET Framework and it is suitable for the development of pricing and trading applications in quantitative finance. It has functionality to support the needs of quants and traders who develop fixed income and computational finance applications. It is more accessible than C++ and has interfaces with other tools such as Excel, C++, F# and database systems.

C# for Financial Markets is a practice-oriented book that shows how to design and program pricing and trading models using the C# programming language.  It is a step-by-step account of how to develop software programs that can be used by traders in real life situations. The reader will discover how to design and implement real finance applications including new methodologies that were developed after the crash of 2007. The approach is thorough and comprehensive and the authors use a combination of C# language features, design patterns, mathematics and finance to produce efficient and maintainable software.

Some key features in the book are:

  • The C# language from A to Z (version 4.0).
  • C# as a language that supports the object-oriented, generic and functional programming models.
  • Implementing lattice models in C#.
  • Two chapters on PDE models (including an in-depth analysis of the Alternating Direction Explicit (ADE) finite difference method).
  • Six major chapters on fixed income applications including the single curve and multi curve framework.
  • How to create COM and Automation addins in Excel and link them to fixed income applications.
  • A thorough introduction to C# multi-threading and the TPL (Task Programming Language).
  • A detailed overview of LINQ (Language Integrated Query), its applications to finance and LINQ-Excel interoperability.
  • Multi-language development in .NET, in particular creating mixed C#/C++ applications.
  • Introduction to .NET assemblies.

Designed for quant developers, traders and MSc/MFE students, each chapter has numerous exercises and the book is accompanied by a dedicated companion website, www.datasimfinancial.com, providing all source code, alongside forums for readers to comment on the code and obtain new versions of the software.

About the Author

Daniel J. Duffy has been working with numerical methods in finance, industry and engineering since 1979. He has written four books on financial models and numerical methods and C++ for computational finance and he has also developed a number of new schemes for this field. He is the founder of Datasim Education and has a PhD in Numerical Analysis from Trinity College, Dublin.

Andrea Germani was born in Lodi, Italy in 1975, where he currently lives. After graduating from the Bocconi University in Milano, he obtained the Certificate in Quantitative Finance in London under the supervision of Paul Wilmott. Since then he has been working as a trader in some of the major Italian banks, where he gained a deep knowledge of the financial markets. He also worked on valuation and pricing of equity and interest-derivatives, with a focus on the practical use of the models on the trading floor. He is active in training courses of Finance for students and practitioners.

Most helpful customer reviews

18 of 22 people found the following review helpful.
Rushed, recycled but useful
By Dimitri Shvorob
This is a programming book, so let's look at some code. Pages 17-21 (accessible with "Search inside") have the first extended listing, featuring the Black-Scholes (European) option price calculation. Going line by line ...

public interface IOptionFactory - "public" is redundant and usually omitted
public Option create() - C# convention is "Create"; lower-cased (public) method names are all over the place
private double T; // expiry date - should be time to expiry
private string type; // option name (call, put) - a freeform-string parameter is a bad idea
K = Convert.ToDouble(Console.ReadLine()) - double.TryParse() with checks is better if you must create objects off command line. (All the fields are made private, and instead of a ToString() override, there is an extension method Display() - combining actual display with the price calculation).
private double CallPrice(double U) - everybody labels the underlying S, not U, and if you are wondering what calculation is being implemented, the Black-Scholes formula will be introduced 17 pages later
private double PutPrice(double U) - I would use CallPrice() and the put-call parity instead of calculating the value from scratch, but fine
public void init() - ignoring the lower-case, why have init() replace the parameterless constructor, make it public, and why have a parameterless constructor at all when there is no meaningful set of defaults? As there is a special test class, it does not make sense even as a temporary testing stub.
public Option() - calls init(), see above
public Option(string optionType) - calls init() and overwrites "type", because init() has set it arbitrarily
if (type == "c") type = "C" - but the prompt asked for "Call" or "Put"? Oddly, "p" is not recoded to "P".
public Option(string optionType, string underlying) - what is the *string*-valued underlying? Does not matter, because it is not used; the two-parameter constructor does what the singe-parameter one does, except for the c/C recoding.
if (type == "1") return CallPrice(U); else return PutPrice(U) - the monkey-coder using this code will always get a put price, thanks to the "else" instead of an explicit check; the worst-practice trifecta is rounded out by the number-as-string
static public double n(double x) - a method called "n"?! ("n" evaluates the standard-normal density, and is accompanied by "N", which calculates - actually, approximates; there is no explanation or reference for the approximation method - the cumulative density).
public struct Mediator - it's peculiar to have a structure do high-level program logic, but looking ahead, Mediator is redundant; its function could have been merged into TestOption class.
Mediator med = new Mediator() - either the authors dislike "var" keyword, or are recycling C++ code

The code is poor, and this invites the question "How much care did the authors put in this book?" Not too much.

Looking at the chapter list,

1. Global overview of the book, pp. 5-8
2. C# fundamentals, 9-24
3. Classes in C#, 25-52
4. Classes and C# advanced features, 53-96
5. Data structures and collections, 97-124
6. Creating user-defined data structures, 125-158
7. Introduction to bonds and bond pricing, 159-184
8. Data management and data lifecycle, 185-214
9. Binomial method, design patterns and Excel output, 215-240
10. * Advanced lattices and finite difference methods, 241-270
11. ? Inter-operability: namespaces, assemblies and C++/CLI, 271-310
12. * Bond pricing: design, implementation and Excel interfacing, 311-334
13. * Interpolation methods in interest-rate applications, 335-368
14. * Short-term interest-rate futures and options, 369-392
15. * Single-curve building, 393-430
16. * Multi-curve building, 431-458
17. * Swaption, cap and floor, 459-492
18. ? Software architectures and patterns for pricing applications, 493-522
19. LINQ, 523-560
20. * Introduction to C# and Excel integration, 561-580
21. * Excel automation add-ins, 581-594
22. * C# and Excel integration COM add-ins, 595-624
23. * Real-Time-Data (RTD) Server, 625-634
24. Introduction to multi-threading in C#, 635-664
25. Advanced multi-threading in C#, 665-706
26. Creating multi-threaded and parallel applications for computational finance, 707-734

* marks chapters with (non-trivial) material not found in a general-purpose C# book - I will endorse "C# in a Nutshell" by the Albaharis - and two partial credits are Ch 11, where I count only the C++ part, and Ch 18, which is just really poorly written. (By the way, "Head-first design patterns" is the best book on DP, and Mark Joshi's C++ book has an excellent, motivating discussion). Two takeaways:

The book parallels Duffy's previous book, "Financial instrument pricing using C++", by covering the finite-differences method and interpolation, and complements it by focusing on FI.

The book has useful coverage of Excel and C++ interop. With the exception of books on VSTO, Xing Zhou's "C# for front office" is the only other book which I know to cover the C#-plus-Excel topic.

Page count overstates the book's content - Console.WriteLine's alone add a dozen pages - and, really, the writing is as good as the code above. Still, if a book teaches you something new... One does not have to like a low-quality book, but one has to appreciate the authors' body of work and the usefulness of their (fairly reasonably priced) product, as is.

2 of 2 people found the following review helpful.
Coding Issues
By Jonathan Kaufman
I am a software engineer who decided to read this for help on the finacial side of things. What worries me is that the coding samples are not very good. When working in this industry your work has to be solid. I hate to be negative but this book is aimed at people coming from a financial background trying to pickup C#. There are too many errors or bad style/practices in the text.

0 of 0 people found the following review helpful.
Java for Financial Markets
By Pete Jensen
This book should be called "Java for Financial Markets" - expect to see very heavy usage of IKVM (java portability) and near zero idiomatic C#. If these shortcomings can be overlooked there are some real gems buried within such as "interpolation methods in interest rate calculations". I would buy it if you want to see and read code that deals with modeling different instruments, if for no other reason than to gain insight into the problems at hand.

See all 10 customer reviews...

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