This article is the second part of a survey on the importance and role of Greeks in structured products and derivatives.
In the first part ( First order sensitivities ), the concept of the Greeks (also known as sensitivities) was introduced, and how they give precise information about price changes of a structured product from movement in the underlying parameters. The use of the Greeks serves two important complementary functions. The first is for the trading desk of the issuing bank to understand how to risk manage the structured product through its lifetime. Any structured product is a contractual obligation t
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