Hong Kong Exchanges and Clearing Limited (HKEx) has published the second edition of Analysing Futures and Options (only available in Chinese), as a further step to deepen public understanding of derivatives products, upgrade the professional standards of futures and options participants and to support the market's development.
Analysing Futures and Options, first published in 1999, was written by Professor Raymond Chiang and Mr Kevin Cheng. It covers the basic concepts and trading strategies of all futures and options products and provides an in-depth and readable analysis of the operations and characteristics of the derivatives market. It has been well received by investors and market practitioners alike.
As financial markets become more globalised, Hong Kong's futures and options markets are undergoing a series of reforms. To address market demands and further promote investor education, HKEx invited Professor Chiang and Mr Cheng to review the content of Analysing Futures and Options for a second edition. The second edition has more than 400 pages and covers a wider range of topics than the first edition and better reflects the current development of Hong Kong's futures and options markets. A new chapter, Derivative Warrants, provides broader knowledge of derivatives products so that readers know what to do when investing in these products. At the end of each chapter is a section of Revision Questions for the purpose of revision and summary of major points.
Analysing Futures and Options is currently for sale at major book shops and the HKEx sales counter at Tower One and Two, Exchange Square, Central, for HK$150 per copy.
In mid-August, Professor Chiang passed away at the age of 52. HKEx extends its condolences to the family members of Professor Chiang. He was an ardent promoter of education with teaching experience in both US and Hong Kong universities. He served as adviser to several international financial institutions, some Asian securities and futures exchanges and the Securities and Futures Commission.