The volume of futures and options contracts traded on the world’s derivatives exchanges in 1998 amounted to £2.2bn with most of the main markets recording impressive growth in business. Derivatives are risk‐shifting devices. Properly used, they can provide great benefit. If they are mishandled, the results can be catastrophic as was seen when Leeson brought Barings to its knees. The Thomson Derivatives and Risk Management Directory claims to be “the most comprehensive and reliable guide to this most changeable of industries”. It presents a wealth of information on the derivatives and risk management industry throughout the world.
The directory is organised in three main parts. It begins by presenting tables of the leading global bookrunners and issuers of Eurobonds, equities and warrants. The second section is the main body of the directory. This presents an extensive listing of contact details of dealers, banks and brokers in the risk and derivatives marketplace. Every office where a significant risk management activity exists is included. This amounts to over 3,000 offices with contact information for around 10,000 risk management professionals. In addition, details are given of commodities, futures and other exchanges; software/hardware and information services; rating agencies; training and development bodies; a list of the members of the International Association of Financial Engineers (IAFE) who all offer courses dealing with risk management; and finally the contact details of the relevant associations and government agencies. The directory is completed with a set of four indexes: a derivative product specialist guide; a geographical index; a personnel index and a master index; to every organisation named in the volume.
With its extensive contact information, this directory is an excellent starting point for identifying experts in risk management in all parts of the world. It will be an essential purchase for the financial risk manager and would make a useful addition to the larger business reference collection.
