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Rigorous mathematical finance relies strongly on two additional fields: optimal stopping and stochastic analysis. This book is the first one which presents not only main results in the mathematical finance but also these 'related topics' with all proofs and in a self-contained form. The book treats both discrete and continuous time mathematical finance. Some topics, such as Israeli (game) contingent claims, and several proofs have not appeared before in a self-contained book form. The book conta...

Das vorliegende Buch befasst sich mit der Finanzierung der Digitalisierung im Sinne der digitalen Transformation für kleine und mittelständige Unternehmen (KMU). Dieses Buch stellt das „Digital Transformation Financing Framework“ (DTFF) vor, dass einerseits die Finanzierung der digitalen Transformation mit den klassischen Finanzierungsinstrumenten der Unternehmensfinanzierung darstellt. Andererseits zeigen Selbstfinanzierungsinstrumente auf Geschäftsmodellebene zusätzliche und innovative Handlun...

Stock market integration between developing and emerging markets has numerous benefits for creating a global - yet stable - world economy. It increases competition and the efficiency of local markets, in turn reducing price volatility and the cost of capital among integrated markets. It also generates capital flows, which enhance financial stability and spur economic growth. At its core, stock market integration has an important role to play in both developing and emerging markets still re...

Blockchain technologies have been rapidly adopted for the creation of cryptocurrencies and have been explored for a myriad of applications. While this is of important economic interest, the computer science behind how blockchains operate to provide security and provenance has been largely inaccessible to economists. This book is a bridge between the computer science and the economics of blockchains. The focus is on the value and the achievement of blockchain consensus; that is, how distributed...

This publication explores the potential for central bank digital currencies to help promote financial inclusion. It considers how such currencies could leverage digital finance technologies and enhance the reach and value of formal financial products and services among the unbanked or underserved. It also looks at the challenges involved and how these could be addressed. The publication provides recommendations for policy makers and regulators on designing central bank digital currencies, estab...

Financial services technology and its effect on the field of finance and banking has been of major importance within the last few years. The spread of these so-called disruptive technologies, including Blockchain, has radically changed financial markets and transformed the operation of the industry as a whole. This is the first multidisciplinary handbook of FinTech and Blockchain covering finance, economics, and legal aspects globally. With comprehensive coverage of the current landscape of fina...

Financial Markets in Practice: From Post-Crisis Intermediation to FinTechs delivers an overview of the development of risk-transformation undertaken by the financial services industry from the perspective of quantitative finance. It provides an instructional and comprehensive explanation of the structure of the financial system as a network of risk suppliers and risk consumers, where different categories of market participants buy, transform, net, and re-sell different kinds of risks. This risk-...

Bring together machine learning (ML) and deep learning (DL) in financial trading, with an emphasis on investment management. This book explains systematic approaches to investment portfolio management, risk analysis, and performance analysis, including predictive analytics using data science procedures. The book introduces pattern recognition and future price forecasting that exerts effects on time series analysis models, such as the Autoregressive Integrated Moving Average (ARIMA) model, Season...

The world of quantitative finance (QF) is one of the fastest growing areas of research and its practical applications to derivatives pricing problem. Since the discovery of the famous Black-Scholes equation in the 1970's we have seen a surge in the number of models for a wide range of products such as plain and exotic options, interest rate derivatives, real options and many others. Gone are the days when it was possible to price these derivatives analytically. For most problems we must resort t...

This report identifies and examines six key technologies that are transforming fundamental financial market infrastructure and will serve as a springboard for the technological advancement of financial market infrastructure in the region. This report ascertains the most current status of technology adoption by Cross-Border Settlement Infrastructure Forum member organizations. They include central securities depositories and central banks in the Association of Southeast Asian Nations (ASEAN) plu...

This publication provides an overview of institutional investors' interest in green bonds in Thailand and the perspectives of local arrangers and underwriters on their clients' interest in green bond issuance. It presents the results of a survey to help identify market drivers, impediments, and development priorities for Thailand's sustainable finance market.