FX Cash Products
Spot, Forwards, Swaps & Non-Deliverable Forwards by Luigi Pascal Rondanini & David Axtell
The definitive practitioner's guide to foreign exchange cash markets. Institutional-grade frameworks for corporate treasurers, FX traders, and risk managers navigating the $7.5 trillion daily FX market.
Press Release
FOR IMMEDIATE RELEASE — 31 March 2026
Rondanini Publishing Releases FX Cash Products: Spot, Forwards, Swaps & Non-Deliverable Forwards
The inaugural volume of the Foreign Exchange Markets Professional Series is now available in print via IngramSpark and as an ebook on Amazon KDP.
LONDON, ENGLAND — Rondanini Publishing Ltd today announces the publication of FX Cash Products: Spot, Forwards, Swaps & Non-Deliverable Forwards, Book 1 of the Foreign Exchange Markets Professional Series. The book is co-authored by Luigi Pascal Rondanini and David Axtell, two practitioners with a combined eight decades of experience in global financial markets.
The Foreign Exchange Markets Professional Series is designed for corporate treasurers, FX traders, risk managers, and asset managers who require institutional-grade reference material grounded in live market practice. Book 1 covers the full spectrum of FX cash instruments — spot, outright forwards, FX swaps, and non-deliverable forwards — through 17 chapters across five structured parts, accompanied by worked examples, Python toolkit references, and regulatory context.
“This series bridges a gap that has existed in professional financial education for too long,” said Luigi Pascal Rondanini. “Practitioners need depth, not simplification. Every chapter is written from the trading desk and the treasury function outward, not from the textbook inward.”
David Axtell, co-author and FX practitioner with a career spanning NatWest London, HSBC Dubai, Qatar National Bank, and SHUAA Capital, added: “The FX market is one of the most liquid and technically demanding in the world. This book gives readers the analytical rigour to operate within it with confidence.”
Book Details
- Title: FX Cash Products: Spot, Forwards, Swaps & Non-Deliverable Forwards
- Series: Foreign Exchange Markets Professional Series, Book 1 of 5
- Authors: Luigi Pascal Rondanini and David Axtell
- Publisher: Rondanini Publishing Ltd
- Publication Date: 31 March 2026
- Print ISBN: Available via IngramSpark
- eBook ISBN: Available via Amazon KDP
- Format: Print and eBook
- Available at: www.rondanini.com/cashfx (direct), Amazon KDP (eBook), IngramSpark (print)
- Website: www.rondanini.com
About the Authors
Luigi Pascal Rondanini is the founder of Rondanini Publishing Ltd and a Management Consultant specialising in corporate treasury at Zanders. He brings 38 years of financial markets experience including a decade trading FX, money markets, derivatives, and fixed income securities.
David Axtell is an FX practitioner with 35 years of experience across NatWest London, HSBC Dubai, Qatar National Bank, USCB Riyadh, and SHUAA Capital. He is also the host of The Trading Floor podcast.
About Rondanini Publishing Ltd
Rondanini Publishing Ltd produces institutional-grade financial education for working practitioners. Its publishing programme includes the Foreign Exchange Markets Professional Series and over 120 professional mini manuals available at learn.rondanini.com. The company is based in the United Kingdom.
Media Contact
Rondanini Publishing Ltd
info@rondanini.com
www.rondanini.com
What You'll Learn
Five integrated parts covering the complete spectrum of foreign exchange cash markets, from foundational concepts to advanced institutional strategies.
- Part I: Market Foundations — Structure, participants, trading sessions, and quotation conventions.
- Part II: Spot FX Markets — Trading fundamentals, execution strategies, transaction cost analysis, and operational risk management frameworks.
- Part III: FX Forward Contracts — Pricing theory, corporate hedging applications, hedge accounting requirements, and settlement operations.
- Part IV: FX Swaps — Structure and mechanics, funding applications, central bank operations, and liquidity management strategies.
- Part V: Non-Deliverable Forwards — NDF markets, emerging market microstructure, and NDF-specific risk management frameworks.
Figures Reference — Free Download
The 33 figures in this book are designed as visual summaries — each one consolidates a chapter's key concepts into a single reference diagram. They complement the text rather than carry it, but they deserve to be read clearly.
In a 6×9 paperback, the level of detail packed into each figure pushes against the limits of the format. For that reason I have prepared a free companion document — FX Cash Products: Figures & Tables Reference — containing all 33 figures reproduced at full size, in full vector quality.
It costs nothing, requires no registration, and is yours to keep and annotate as you see fit.
Download Figures Reference PDF
Luigi Pascal Rondanini
Table of Contents
17 chapters organized across five integrated parts:
Part I: Market Foundations
- Chapter 1 — Introduction to Foreign Exchange Markets
- Chapter 2 — Market Structure and Participants
- Chapter 3 — Currency Quotation Conventions
Part II: Spot FX Markets
- Chapter 4 — Spot FX Trading Fundamentals
- Chapter 5 — Transaction Cost Analysis
- Chapter 6 — Spot FX Risk Management
Part III: FX Forward Contracts
- Chapter 7 — FX Forward Contracts: Fundamentals
- Chapter 8 — Forward Pricing and Interest Rate Parity
- Chapter 9 — Corporate Hedging Applications
- Chapter 10 — Hedge Accounting Frameworks
- Chapter 11 — Settlement and Operations
Part IV: FX Swaps
- Chapter 12 — FX Swaps: Structure and Mechanics
- Chapter 13 — Funding Applications
- Chapter 14 — Central Bank Operations
- Chapter 15 — Liquidity Management
Part V: Non-Deliverable Forwards
- Chapter 16 — NDF Markets and Mechanics
- Chapter 17 — NDF Risk Management
Read a Sample
Preview the full front matter and Chapter 1 — Introduction to Foreign Exchange Markets in the viewer below. View-only; the sample cannot be downloaded.
Sample includes: title page, copyright, contents, and Chapter 1. Use the buttons to turn pages.
Pricing
📚 Out now. FX Cash Products is officially available: digital editions deliver immediately; print ships with UK delivery included where stated. The Python Toolkit is available for immediate download with eligible purchases. Print (book only) is also available from our distributor IngramSpark: paperback · hardcover.
Best Value — Book + Toolkit Bundles
eBook + Toolkit
- Complete eBook (PDF + EPUB)
- Full Python Toolkit (instant access)
- eBook available immediately (PDF + EPUB)
- Lifetime updates
Paperback + Toolkit
- Premium paperback
- Free eBook included
- Full Python Toolkit (instant access)
- UK shipping included
- Print ships after order (typical dispatch within a few business days)
Hardcover + Toolkit
- Library-quality hardcover
- Free eBook included
- Full Python Toolkit (instant access)
- UK shipping included
- Print ships after order (typical dispatch within a few business days)
Important notes for buyers
A note for international orders
Orders placed directly through this site are fulfilled via IngramSpark. Depending on your country, customs duties or import charges may apply on delivery. These are set by your local authority and are outside our control. Please factor this in when ordering.
Bought elsewhere? You can still get the bundle at the same price.
If you purchased the print edition through Amazon, IngramSpark, or another marketplace and would like to add the Python toolkit bundle, contact us directly. We charge only the difference between what you paid for print and the matching book + toolkit bundle price shown in the bundles above—so your total is the same as if you had bought that bundle from us. We match the format you bought (paperback vs hardcover) to the corresponding print bundle.
This offer applies to print editions only and requires proof of purchase—a screenshot or PDF of your marketplace order confirmation is sufficient. It does not apply to eBook-only purchases.
To claim, email orders@rondanini.com with your order confirmation attached or linked.
Books Only — Buy Direct, Amazon, or IngramSpark
eBook Edition
- Digital delivery (PDF + EPUB)
- Instant download
- Searchable text
- Lifetime updates
Paperback Edition
- High-quality print
- Perfect desk reference
- Free eBook included (instant)
- UK shipping included
- Print ships after order (typical dispatch within a few business days)
Hardcover Edition
- Durable hardcover binding
- Premium paper stock
- Free eBook included (instant)
- UK shipping included
- Print ships after order (typical dispatch within a few business days)
Python Toolkit — Standalone
Python Toolkit
- 264 components (87 classes, 159 functions)
- Pricing engines: Spot, Forward, Swap & NDF valuation
- XVA framework: CVA, DVA, FVA, KVA
- SA-CCR capital calculations
- Multi-curve valuation (OIS, basis)
- Stress testing & VaR
- TCA analysis
- IFRS 9 hedge accounting
- Bloomberg/Refinitiv ready
- Interactive configuration UI
- Jupyter notebooks included
What's in the Python Toolkit?
Institutional-grade FX analytics at your fingertips.
Want to try the toolkit before you download it?
Launch the Python Playground🔧 Customization Services Available
The Python tools can be customized to match your specific needs. We offer tailored modifications, additional features, and integration services. Contact us for requirements to get a tailored estimate.
About the Authors
Luigi Pascal Rondanini
Luigi Pascal Rondanini is a treasury and risk management consultant based in London, specializing in corporate finance transformation, FX exposure management, and derivatives market structure. His career spans major global banks, hedge funds, and multinational corporations, providing comprehensive perspective on FX markets from multiple participant viewpoints.
David Axtell
David Axtell brings extensive experience across institutional FX markets, derivatives trading, and corporate treasury management. His career encompasses senior roles at leading global financial institutions, providing deep expertise in market structure, trading operations, and risk management frameworks.
Combined 70+ years of institutional FX experience
Foreign Exchange Markets Professional Series
A comprehensive five-book series covering the complete spectrum of foreign exchange markets.
Book 1: FX Cash Products
Current Book
Book 2: FX Derivatives Products
Coming Q2 2026
Book 3: Cross-Currency Swaps
Coming Q1 2027
Book 4: Emerging Market FX
Coming 2027
Book 5: FX Risk Management
Coming 2027
Frequently Asked Questions
When will I receive my order?
Physical editions (Paperback and Hardcover) are available now. UK shipping is included where stated; print typically dispatches within a few business days of order confirmation. The eBook (included with eligible physical orders) and Python Toolkit are available for immediate download after purchase. You can also buy print via IngramSpark (paperback) or IngramSpark (hardcover).
What Python version is required?
Python 3.9 or higher. The toolkit is tested on Python 3.9, 3.10, 3.11, and 3.12.
Do I need Bloomberg/Refinitiv?
No. The toolkit works with manual data entry or free Yahoo Finance data. Bloomberg and Refinitiv integrations are optional features for institutional users.
What is the refund policy?
Due to the digital nature of our products, all sales are final. We provide comprehensive previews and sample chapters so you can evaluate the content before purchasing. For any technical issues with downloads or access, please contact support@rondanini.com.
Can I use this commercially?
Yes, with proof of purchase. The license allows commercial use within your organization. See the LICENSE file included in the toolkit for full details.
What's included in shipping?
UK shipping is included in the price. International shipping is available at additional cost, calculated at checkout.