The last few years have been a watershed for the commodities, cash and derivatives industry. New regulations and products have led to an explosion in the commodities markets, creating a new asset for investors that includes hedge funds as well as University endowments, and has resulted in a spectacular growth in spot and derivative trading.br/br/This book covers hard and soft commodities (energy, agriculture and metals) and analyses:bulletlistbulletEconomic and geopolitical issues in commodities marketsbulletCommodity price and volume riskbulletStochastic modelling of commodity spot prices and forward curvesbulletReal options valuation and hedging of physical assets in the energy industry/bulletlistbr/br/It is required reading for energy companies and utilities practitioners, commodity cash and derivatives traders in investment banks, the Agrifood business, Commodity Trading Advisors (CTAs) and Hedge Funds.br/br/In boldCommodities and Commodity Derivatives/bold, Hélyette Geman shows her powerful command of the subject by combining a rigorous development of its mathematical modelling with a compact institutional presentation of the arcane characteristics of commodities that makes the complex analysis of commodities derivative securities accessible to both the academic and practitioner who wants a deep foundation and a breadth of different market applications. It is destined to be a "must have" on the subject."br/bold—Robert Merton, Professor, Harvard Business School/boldbr/br/"A marvelously comprehensive book of interest to academics and practitioners alike, by one of the world's foremost experts in the field."br/bold—Oldrich Vasicek, founder, KMV/bold