Book Description
Over the next few years, the proprietary trading and hedge fund industries will migrate largely to automated trade selection and execution systems. Indeed, this is already happening. While several finance books provide C++ code for pricing derivatives and performing numerical calculations, none approaches the topic from a system design perspective. This book will be divided into two sectionsprogramming techniques and automated trading system ( ATS ) technologyand teach financial system design and development from the absolute ground up using Microsoft Visual C++.NET 2005. MS Visual C++.NET 2005 has been chosen as the implementation language primarily because most trading firms and large banks have developed and continue to develop their proprietary algorithms in ISO C++ and Visual C++.NET provides the greatest flexibility for incorporating these legacy algorithms into working systems. Furthermore, the .NET Framework and development environment provide the best libraries and tools for rapid development of trading systems.
The first section of the book explains Visual C++.NET 2005 in detail and focuses on the required programming knowledge for automated trading system development, including object oriented design, delegates and events, enumerations, random number generation, timing and timer objects, and data management with STL.NET and .NET collections. Furthermore, since most legacy code and modeling code in the financial markets is done in ISO C++, this book looks in depth at several advanced topics relating to managed/unmanaged/COM memory management and interoperability. Further, this book provides dozens of examples illustrating the use of database connectivity with ADO.NET and an extensive treatment of SQL and FIX and XML/FIXML. Advanced programming topics such as threading, sockets, as well as using C++.NET to connect to Excel are also discussed at length and supported by examples.
The second section of the book explains technological concerns and design concepts for automated trading systems. Specifically, chapters are devoted to handling real-time data feeds, managing orders in the exchange order book, position selection, and risk management. A .dll is included in the book that will emulate connection to a widely used industry API ( Trading Technologies, Inc.s XTAPI ) and provide ways to test position and order management algorithms. Design patterns are presented for market taking systems based upon technical analysis as well as for market making systems using intermarket spreads.
As all of the chapters revolve around computer programming for financial engineering and trading system development, this book will educate traders, financial engineers, quantitative analysts, students of quantitative finance and even experienced programmers on technological issues that revolve around development of financial applications in a Microsoft environment and the construction and implementation of real-time trading systems and tools.
* Teaches financial system design and development from the ground up using Microsoft Visual C++.NET 2005.
* Provides dozens of examples illustrating the programming approaches in the book
* Chapters are supported by screenshots, equations, sample Excel spreadsheets, programming code and interactive CDROM
Customer Reviews:
great book for wall street developers.......2007-06-29
Unlike some other comments about this book, the intended readers are serious developers who have not started or just begining to use .Net 2005 framework. That is why some readers do not like this book.
A pure programmer do not need to read this book.
A pure quant strategist do not need this book.
A network specialist do not need this book.
It is only good for the intended readers.
Excellent resource to build Automatic Trading Systems.......2007-04-22
I read some of the other reviews and was moved to write my own evaluation as those reviews were mistreating this book.
This book is NOT fiction nor is it a comprehensive reference on C++.Net. so for someone trying to read this book from cover to cover will not feel like adding much value. Also the title says it clearly that the book includes an introduction to VC++.Net (just want to stress that the book is not meant to teach you the language in and out)
The value in this book is to understand the typical challenges that financial trading systems offer and some really insightful examples on how to solve them. This book deals with everyday problems that any programmer will face when building his/her own trading system (Automated/semi-automated). There is a lot of good advice on Building Automatic Trading Systems all compiled into one resource.
Like I mentioned before the book is not a comprehensive reference on C++.Net(Use MSDN for that) and neither is it verbose, but simply a bridge between building trading systems and programming. The introduction to VC++.Net is a quick read even if you have no or basic programming skills and only serves as an introduction to the language with a quick reference of the concepts.
I love this book and appreciate some of the issues that it addresses. It also better prepared me for the job that I got after taking Professor Van Vliet's class and using this book for the same.
I recommend this book for all those developers (or beginners) who are dealing with financial markets and have the need to build ATS.
Excellent CONCISE Treatment of C++.Net.......2007-04-13
I feel I am qualified to review this book as I have been a student of Professor Van Vliet's at IIT-Chicago. I have taken his courses in ANSI C++,VB.Net,and developing automated trading systems using C++.Net. I took the course in C++.Net/Automated Trading Systems using the notes that were the basis for this book.
A few of the previous reviews were way off the mark in my opinion. One of Professor Van Vliet's strengths and approach to programming is to develop concepts through simple examples. In this book, as in all his classes, he gives small but complete programs to learn concepts. Most books, e.g. Deitel, introduce concepts with 2-3 page programs where you get lost in what you are trying to learn. Van Vliet emphasizes that programming is learned by doing, not just by reading. If you just plan to read the book and not actually implement the programs then maybe it's value is limited. But this is not how most people REALLY learn programming. You have to get your hands dirty.
Previous reviews are way off the mark in terms of substance as well. You just have to go to MSDN's documentation on C++.Net to see that Van Vliet includes a lot of helpful information that is hard to find in other books and on the NET. For example, for those who care to pay attention, he does an excellent treatment on how to get to methods in objects stored in hashtables and sorted lists. Almost all other discussions of hashtables use very primitive hashtables where you only store a key and a simple value (like an integer or string) . Van Vliet actually shows ways, for example, to create a Stock Class with all the attributes of a stock and then store the stock objects in a hashtable that would represent a portfolio. (this is not the example in the book but he clearly shows you how to do this). Then he shows you how to get at the methods using a dynamic cast or static cast (with the advent of generics in VS 2005 there are now even better ways in some instances).
To give further evidence of his building block approach and the substance in the book, Van Vliet towards the end of the book develops a single-threaded algorithmic trading system and then uses a producer-consumer semaphore model to show you how to create a multi-threaded algorithmic trading system. Where else can you find this in the literature? He even created his own API, Trader API, that is very similar to that of Trading Technologies's XTAPI, so programmers can learn how to connect and use an API.
Finally, through my study with Van Vliet I have been able to write multi-threaded trading programs using XTAPI, write a stat arb program for equity trading that searches a large database of equities, write technical trading systems, and write factor model programs for equity trading. In large part because of what I learned from Professor Van Vliet at IIT I have been able to be employed by a local hedge fund. Whenever I program his books are with me for reference purposes.
J.S. Haworth
April 2007
Unreadable...........2007-04-02
Strong regret that I spent 80$ on this book. The backcover said this book was suitable for people who wanted to learn c++.net with a focus on trading systems, however the intro to the language itself is very very light.
It starts directly with pages of code (that you can find on the cd...) explaining how to manage threads, processes, time etc etc.
I had the feeling that this book has no real beginning nor real ending and that chapters can be all mixed up, it won't change anything.
On the other side, I am maybe too beginner for it. Maybe this suitable for people who want to transfer their system from one language to c++.net.
Excellent book for beginners to intermediate develepers.......2007-03-23
I thought this was an excellent book for beginner and intermediate developers. It takes you through the building blocks necessary to create a fully functioning automated trading system. Especially useful for programmers in other languages that are looking to transfer their code to C++.net. I've have 7 years of experience in financial programming and many of the problems addressed in this book, I deal with on a daily basis.
Book Description
A comprehensive guide to building financial models
Building Financial Models with Microsoft Excel + CD-ROM provides beginning or intermediate level computer users with step-by-step instructions on building financial models using Microsoft Excel-the most popular spreadsheet program available. The accompanying CD-ROM contains Excel worksheets that track the course of the book and allow readers to build their own financial models. This comprehensive resource also covers important topics such as the concept of valuation, the concept of sensitivity analysis, the concepts of contribution margin and financial ratios and the basics of building and using a Capitalization Table.
K. Scott Proctor, CFA, is the Director of Investor Analytics at SNL Financial, a financial information provider.
Download Description
A comprehensive guide to building financial models
Building Financial Models with Microsoft Excel + CD-ROM provides beginning or intermediate level computer users with step-by-step instructions on building financial models using Microsoft Excel-the most popular spreadsheet program available. The accompanying CD-ROM contains Excel worksheets that track the course of the book and allow readers to build their own financial models. This comprehensive resource also covers important topics such as the concept of valuation, the concept of sensitivity analysis, the concepts of contribution margin and financial ratios and the basics of building and using a Capitalization Table.
K. Scott Proctor, CFA, is the Director of Investor Analytics at SNL Financial, a financial information provider.
Customer Reviews:
goes somewhat beyond introductory Excel.......2007-03-18
The book has some merit to a reader new to Excel, and who wants something a bit more indepth than the Idiots or Dummy's books on Excel. Proctor gives examples that do more with the spreadsheets, and you get to appreciate what Excel can provide.
But, as other reviewers have cogently pointed out, the book really is not for business professionals, despite what the title says. An accountant or businessperson should already have more background on financial modelling with spreadsheets that the level provided here.
WAY too Basic for Most.......2007-03-14
This work lacks substance for anyone remotely likely to have to do any real financial analysis. The examples are too simplistic to be of much practical value. If you have virtually no training or experience in Excel or accounting or finance then this book might be worth borrowing from a library to get you up to speed. If you have more than a week of experience in this area then it will sit on the shelf.
Hardly a Guide for any Professional in Finance.......2006-09-27
Chances are that if you are even thinking about financial modeling you have at least a basic understanding of excel and accounting. If that is the case, this book will prove to be almost completely useless. The modeling examples used within the book are so simplistic that if you have had half a semester in an accounting class you will have a more indepth understanding than what the book provides. Financial valuation is almost non existant as is sensitivity analysis, with each getting a short token chapter. The use of excel is at such a beginner level that I feel as if I did more indepth work with excel attempting to figure out my student loan payments. I have read the book from front to back and feel as if it has provided me with no useful manner in which to conduct any sort of modeling other than in an imaginary world where companies only sell one product, have almost no expenses, collect all their recievables within the next pay period and other such ludicrious assumptions. In addition there are several errors in the examples provided in the book. These made me chuckle since anyone who could catch them would not need the book and anyone who actually needs the book for its rudimentary "guidance" would be left bewildered and confused as to why they got the answers wrong.
Book Description
An easy-to-use guide to building codes for healthcare facilities
The construction industry is evolving a single set of international building codes. Now, more than ever, architects need an interpretive guide to understand how the building code affects the early design of specific projects. One in a series of focused guides to building codes from Wiley, this book familiarizes code users with the 2006 International Building Code(r) (IBC) as it applies to healthcare facilities.
Early understanding and incorporation of code-compliant design provisions in a project is essential. This book provides healthcare design professionals--architects, engineers, and other related design professionals--with an understanding of how the International Building Code was developed, and how it is likely to be interpreted when applied to the design and construction of healthcare facilities.
Building Codes Illustrated for Healthcare Facilities features:
* A user-friendly visual format that makes finding the information you need quick and easy
* Nearly 900 illustrations, by architectural illustrator Steven Juroszek in the style of noted illustrator and author Frank Ching, that help visualize and explain the codes
* Text written by experienced experts who have been instrumental in gaining acceptance for the new unified building code
* A guide to navigating the new code plus complete coverage of all key aspects of the IBC
The newly adopted International Building Code is similar but by no means identical to the three model codes that most practitioners have used in the past. Building Codes Illustrated for Healthcare Facilities is an essential companion to the IBC for emerging practitioners seeking to master the full scope of accepted knowledge in the field, and for experienced practitioners needing to understand the similarities and differences between the familiar model codes and the new IBC.
Customer Reviews:
Very Disappointing.......2007-05-03
This book contains very little healthcare specific code information. During my first round flipping through the book, I did not manage to notice any information on healthcare code issues. Upon further inspection, I did manage to find a few healthcare related items... but nothing even close to being useful - or worth the price of the book, for that matter.
This book seems to be simply a repackaging of the book "Building Codes Illustrated," by some of the same authors - which I own as well. The table of contents for both books are nearly identical. Non of the chapters have anything healthcare related in their titles. Most of the graphics appear to be straight out of "Building Codes Illustrated" as well. The index contains more references to subjects such as "brick expansion joints," "cripple studs," and "concrete piles" than it does to anything healthcare specific. Disappointing, to say the least.
If you are looking for industry specific code information, this is NOT your book. This is an unfortunate mislabeling/retitling.
Book Description
Financial modeling is essential for determining a company's current value and projecting its future performance, yet few books explain how to build models for accurately interpreting financial statements. Building Financial Models is the first book to correct this oversight, unveiling a step-by-step process for creating a core model and then customizing it for companies in virtually any industry. Covering every aspect of building a financial model, it provides a broad understanding of the actual mechanics of models, as well as their foundational accounting and finance concepts.
Download Description
Financial modeling is essential for determining a company's current value and projecting its future performance, yet few books explain how to build models for accurately interpreting financial statements. Building Financial Models is the first book to correct this oversight, unveiling a step-by-step process for creating a core model and then customizing it for companies in virtually any industry. Covering every aspect of building a financial model, it provides a broad understanding of the actual mechanics of models, as well as their foundational accounting and finance concepts
Customer Reviews:
Great financial modeling book.......2006-11-06
Fantastic financial modeling book! This should be the text (or at least supplemental) for any serious corporate finance or financial modeling class. I wish it would've been metioned in my MBA classes.
The book covers basics of Excel and accounting so you don't need to be an expert on either subject.
The *best* part are the highly-detailed, step-by-step, in-depth models that show the reader how to:
(1) Link the balance sheet, income statement, and statement of cash flows
(2) Repay debt via cash sweep
(3) Make a dynamic model financial model that can be applied to many situations
I have several financial modeling books, a couple of them are very good. This book is peerless as it walks the reader through the modeling process, from beginning to end.
I highly recommend it.
JB
Need help to complete the model.......2006-02-12
I need a few formulas to complete the model in the book.
chapter 12 page 220
Total debt
Net debt
chater 12 page 221
cash interest expense
average total liabilities
Great for Beginners!!!.......2005-11-07
I approached this book as a raw beginner to the world of financial modeling. I know my B/S, I/S, and CF statements but I really didn't have a clue as to how to put them all together in a model.
I first looked at Benninga's book because it has been recommended by friends and on Amazon. I picked up the first printing of the second edition and I could not get the model to work properly. Another poster mentioned John Tjia's book so I decided to check that out.
Building Financial Models does what its title says it does. The author starts from the very beginning with the tools and functions that you will need in Excel and even delves into the rudiments of accounting. If you're not an absolute neophyte to accounting or Excel you may get that "let's get on with it" feeling as you're reading through but you may be held back by the doubt that you may miss something important if you skip ahead to the model.
And, yes, the model DOES work! Even for Mac users of Excel v.X,. It worked despite my typos and despite the author's numerous typos and sometimes slightly vague instructions. (Make sure to go to the author's website to download his errata sheet because you will need it.) It really is a thing of beauty to see the model go through its iterations as you change the inputs.
Overall, I am very happy with the book. It's an excellent primer to the nitty gritty details and process of building a financial model. It does not go much beyond that, though, so I will be exploring other books for more experience and may even tackle Benninga once again.
The book doesn't balance out.......2005-04-28
At one level this book assumes a very basic knowledge, providing the reader with definitions of things such as Debt and Equity. However Tjia chooses a fancy-dancy model that is not at all appropriate for a beginner: it is unnecessarily complex (typos on some of the instructions don't help either). Then, annoyingly, the guy doesn't even bother going through the steps to creating the financial ratios. This is where a new modeler would most like his assistance! was his deadline coming and he had to hurry to finish?
Definitely this is a rushed, opportunistic piece of work with very uneven assumptions about the reader. Unfortunately, there are probably not a lot of alternatives out there.
Clear, concise, and practical.......2004-09-18
This book is elegant in its straightforward but sophisticated explanation of accounting concepts and how to implement them in a spreadsheet to make financial statement projections. The author was a banker for many years, and you won't find a clearer explanation of how to model debt repayments (cash sweep). Equity analysts can easily add features relevant to them. Highly recommended.
Book Description
An easy-to-use guide to building codes for elementary and secondary schools
The construction industry is evolving a single set of international building codes. Now, more than ever, architects need an interpretive guide to understand how the building code affects the early design of specific projects. One in a series of focused guides to building codes from Wiley, this book familiarizes code users with the 2006 International Building Code(r) (IBC) as it applies to elementary and secondary schools.
Early understanding and incorporation of code-compliant design provisions in a project is essential. This book provides school design professionals--architects, engineers, and other related design professionals--with an understanding of how the International Building Code was developed, and how it is likely to be interpreted when applied to the design and construction of elementary and secondary schools.
Building Codes Illustrated for Elementary and Secondary Schools features:
*
A user-friendly visual format that makes finding the information you need quick and easy
*
Nearly 900 illustrations, by architectural illustrator Steven Juroszek in the style of noted illustrator and author Frank Ching, that help visualize and explain the codes
*
Text written by experienced experts who have been instrumental in gaining acceptance for the new unified building code
*
A guide to navigating the new code plus complete coverage of all key aspects of the IBC
The newly adopted International Building Code is similar but by no means identical to the three model codes that most practitioners have used in the past. Building Codes Illustrated for Elementary and Secondary Schools is an essential companion to the IBC for emerging practitioners seeking to master the full scope of accepted knowledge in the field, and for experienced practitioners needing to understand the similarities and differences between the familiar model codes and the new IBC.
Product Description
Study guide based on Richard J Maybury's book Uncle Eric Talks About Personal, Career, and Financial Security.
Average customer rating:
|
Cost Modelling (Foundations of Building Economics Series)
Vernon Marston
Manufacturer: Taylor & Francis
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ASIN: 0419192301 |
Book Description
Cost models underlie all the techniques used in construction cost and price forecasting. An understanding of the nature and relevance of the various types of models is vital to the success of forecasting the financial implications of different design decisions and to the effectiveness of cost control. This series of readers presents the extant knowledge by assembling the seminal papers written to date in the field of building economics.
Average customer rating:
- Sounded like a good idea, but...
|
Building and Using Dynamic Interest Rate Models
Ken O. Kortanek , and
Vladimir G. Medvedev
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover
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ASIN: 0471495956 |
Book Description
This book offers a new approach to interest rate and modeling term structure by using
models based on optimization of dynamical systems, rather than the traditional stochastic differential equation models. The authors use dynamic models to estimate the term structure of interest rates and show the reader how to build their own numerical
simulations. It includes software that will enable readers to simulate the various models covered in the book.
Customer Reviews:
Sounded like a good idea, but..........2006-11-03
The concept of dynamic interest rate models, less finance, more economic based ones, sounded like a very promising area. However, I found this book really far away from the actual, Wall Street caliber, modeling techniques and trends.
At the very end it feels like a very long white paper to promote the authors software product.
Somehow disappointed because I did not find it useful.
Average customer rating:
|
Building financial decision-making models: An introduction to principles and procedures
Donald R Moscato
Manufacturer: AMACOM
ProductGroup: Book
Binding: Unknown Binding
Management & Leadership
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| Business Ethics
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| Distribution & Warehouse Management
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| Information Management
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| Management
| Management Science
| Motivational
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| Operations Research
| Planning & Forecasting
| Pricing
| Production & Operations
| Project Management
| Quality Control
| Risk Assessment
| Statistics
| Strategy & Competition
| Systems & Planning
| Systems Analysis
| Teams
| Total Quality Management
| Training
ASIN: 081445609X |
Books:
- Business Analysis and Valuation: Using Financial Statements, Text and Cases
- CISA: Certified Information Systems Auditor Study Guide
- Consolidation in the Data Center: Simplifying IT Environments to Reduce Total Cost of Ownership
- Contemporary Auditing: Real Issues and Cases
- Cost Accounting (12th Edition) (Charles T Horngren Series in Accounting)
- Credit Derivatives: CDOs and Structured Credit Products (Wiley Finance)
- Criminal Justice Ethics
- Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings (Wiley Trading)
- Dictionary of Accounting Terms (Barron's Business Dictionaries)
- Economics of Money, Banking, and Financial Markets, Update (7th Edition) (Addison-Wesley Series in Economics)
Books Index
Books Home
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- CRASH BANDICOOT 2, TUG
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- Died to Match
Modeling Maximum Trading Profits with C++: New Trading and Money Management Concepts (Wiley Trading)
Practical .NET for Financial Markets
Evidence-Based Technical Analysis: Applying the Scientific Method and Statistical Inference to Trading Signals
Modeling Financial Markets : Using Visual Basic.NET and Databases to Create Pricing, Trading, and Risk Management Models
Financial Trading Systems Design and Development with C++ (+CD) (Wiley Finance)
