Why have we written this book? In recent decades the field of financial risk management
has developed rapidly in response to both the increasing complexity of
financial instruments and markets and the increasing regulation of the financial services
industry. This book is devoted specifically to quantitative modelling issues
arising in this field. As a result of our own discussions and joint projects with industry
professionals and regulators over a number of years, we felt there was a need
for a textbook treatment of quantitative risk management (QRM) at a technical yet
accessible level, aimed at both industry participants and students seeking an entrance
to the area.
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