Lipton engages some mathematical problems he has encountered as a mathematician turned financial engineer at Banker's Trust and Deutsche Bank. The topics are mostly concerned with foreign exchange, both because that is his current area of responsibility and to focus the explanation of methods by discussing only a narrow set of problems. The treatise can be used as a textbook for a financial engineering course or as a basic reference for risk managers, traders, and academics. Annotation c. Book News, Inc., Portland, OR (booknews.com)