Fundamentals of Futures and Options Markets, Ninth Edition

The following typos and other errors are in the first printing of the book and solutions manual. We have tried to correct them in subsequent printings and so they may not be present in the copy you have.

Errata in Book

Page 8: Line 11, “December 18, 2012” should be “December 18, 2015” (This was kindly pointed out by Zahir Barahmand.)

Page 9: Figure 1.3, Headings on the y-axes of figures should be Profit (‘000s)

Page 41: third to last line in Example 2.1: change 2014 to 2017. (This was kindly pointed out by John Yeoman)

Page 63: lines 8 and 9 of Impact of Daily Settlement section: and should be and . (This was kindly pointed out by Sebastien Bossu.)

Page 91: four lines from end, “in Table 4.4” should be “in Table 4.3” (This was kindly pointed out by Zahir Barahmand.)

Page 92: sixth line under the table, “in Table 4.3” should be “in Table 4.5” (This was kindly pointed out by Zahir Barahmand.)

Page 95: Section 4.9: lines 6-9: Replace “If the actual….the borrower the difference between the two applied to principal” by "If the actual LIBOR rate for the period proves to be greater than the agreed rate, a borrower who enters into an FRA receives the difference applied to the principal and a lender who enters into the FRA pays this difference. If the actual LIBOR rate for the period proves to be less than the agreed rate, a borrower who enters into an FRA pays the difference applied to the principal and a lender who enters into the FRA receives this difference." (This was kindly pointed out by Vassilis Polimenis.)

Page 97: First line of Example 4.3: Change Table 4.5 to Table 4.6. (This was kindly pointed out by John Yeoman)

Page 115: End of first paragraph of Section 5.6. “rates in Section 4.2.” should be “rates in Section 4.4” (This was kindly pointed out by Zahir Barahmand.)

Page 117: Fourth line under Business Snapshot. Change “Section 4.7” to “Section 4.9”. (This was kindly pointed out by Ying Xue.)

Page 122: In Example 5.6 change 1,413.33 to 1,415.78 seven lines and five lines from the end. Change 1074.13 to 1075.99 six, four, and two lines from end. Change 53.93 to 55.79 on last line. (This was kindly pointed out by Alexandre Aidov)

Page 126: Example 5.8: 11 lines from end, replace $1587 with $1597. (This was kindly pointed out by Julio Lopez.)

Page 133: Problem 5.14, line 3, delete “also”

Page 146: 9 lines from end: Change “See Section 4.7” to “See Section 4.9” (This was kindly pointed out by Zahir Barahmand.)

Page 179: Table in Example 7.1. Net cash flow for year 2 should be ̶ 0.0661 not +0.0661.

Page 186: Problem 7.5, line 4: Change “continuous compounding” to “annual compounding”

Page 456: Problem 20.29. Replace “test what happens….results you get.” with “Explain the basis for this complaint.”

Page 475: Problem 21.16. Delete second sentence.

Page 514: Problem 23.25. Delete last sentence.

Errata in Solutions Manual