Foreign Exchange Training Manual
Lehman Brothers, 130

Summary

Lehman Brothers' internal Foreign Exchange Training Manual was written for its new joiners. The manual covers spot Forex transactions, forwards, swaps, and options, providing detailed explanations and practical examples for each. The book serves as both a theoretical and practical resource, as every chapter ends with a 'question and answer' section.

Our verdict

This confidential manual, now fallen into the public domain, is a rare find. For novice traders, the book offers clear and structured explanations of basic concepts such as spot and forward transactions. Experienced traders will benefit from the detailed sections on swaps and options, and ways to manage interest rate differentials and hedging risks.

While this manual is specifically tailored for those involved in the Forex market, its discussion of risk management and trading techniques could be of interest to those dealing in other asset classes, such as commodities or equities.