n Investment Analysts Journal - Mathematical finance in South Africa

Volume 2005, Issue 62
  • ISSN : 1029-3523
  • E-ISSN: 2077-0227
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Extracted from text ... Mathematical finance in South Africa Investment Analysts Journal - No. 62 2005 55 Mathematical finance in South Africa 1. INTRODUCTION* 1.1 What is mathematical finance? It is tempting to say that Mathematical Finance consists merely of a study of the Black-Scholes equation (and its variants) and, for the purposes of many academic programmes in "Financial Engineering", this may well be true. In fact, this also holds true for many practitioners in Mathematical Finance. However, the study of derivative securities and their pricing models, which have been developed over the past 30 years, is now much more complicated than merely finding ..

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