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From the beginning of the 70s the use of derivatives has
seen a notable increase in terms of quantity treated and complexity
of tools. Derivatives are financial tools whose value depends
on the value of other financial assets.
Futures, forwards, swaps and options are commonly used by
firms of all dimensions, by financial institutions and public
organizations to manage the fluctuation risks of interest
rates, exchange rates, prices of other financial assets (stocks,
indexes) or commodities (oil, electricity, wheat, copper).
The evaluation and the correct use of such tools in the framework
of portfolio risk management often asks for the knowledge
of complex mathematical and statistical techniques that are
able to guarantee operational feasibility and flexibility
of applications.
GRETA has the theoretical and practical
competences in this sector needed to provide a methodological
support for the implementation of models of pricing and hedging
of derivatives. Particularly:
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from an operational
point of view, the activity of GRETA is carried out in support of the development of prototypes
(through the use of statistical packages or spreadsheets)
of models of evaluation for rated products integrating,
where there is the opportunity, the knowledge and the
experience of the client;
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from
a methodological point of view, GRETA’s
activity comprises training programs related to the subjects
of interest for both the academic world and the financial
sector.
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