This is the definitive reference for global securitization—and especially CDO—markets. Anyone who transacts in these markets should have a copy handy. It covers everything from credit analysis to individual countries' tax laws. All securitization markets are covered, but the emphasis is CDOs. US markets are given about as much coverage as other countries' markets.

About the first third of the book comprises 11 chapters exploring general topics—structures, credit analysis, accounting, whole business securitization, credit derivatives, the European Union and securitization, capital treatment, etc. Discussions are sophisticated but accessible to anyone with passing familiarity with CDOs—say, at the level of Goodman and Fabozzi (2002). The outlook is decidedly international, but US markets are also discussed.