Business Knowledge for IT In Investment Banking

Essvale Corporation

Publisher Essvale Corporation
ISBN 0955412404
RRP £49.95
Reviewed by Alan Pollard FBCS CITP
Score 10 out of 10

Business Knowledge This small book is a literary goldmine of information. The first in a series of publications in the Bizle Professional series aimed at bridging the knowledge gap between the IT professional and the business community.

From my review of the book it most certainly fulfils its aim as far as investment banking is concerned.

Even for those not seeking to extend their IT career into the finance sector this is a superb little reference guide. In terms that even I can understand it describes the structure of today's money markets, the language of banking, what the different types of investment and dealing are all about and how the major players stack up against each other.

The second half of the book examines the major developments in IT in support of the banking sector - Sarbanes Oxley, Basel2, MiFID, IAS39 (look it up!) and so on. It reviews the principal software suites available and then maps the software development lifecycle against the business processes that IT supports.

The book has nuggets of 'gold' throughout and I learnt a lot. For instance, there is a piece describing the treatment of the decimal point in foreign exchange currency transactions, a description of MDDL (Market Data Definition Language), FpML (Financial products Markup Language) and something called the RTCE or Reuters Tick Capture Engine - a device for analysing market data. A helpful Glossary of Terms completes the book.

Even if you just want a book that de-mystifies the world of investment banking you could not do better than this. For the IT professional I would say it is a must. For those moving into the sector it is a superb primer, for the rest of us in IT it adds to our knowledge and enhances our understanding of the particular challenges of this increasingly important market.