Derivatives & Trading Training

• examine advanced aspects of non-generic and exotic swaps, focusing on their structures, pricing methodologies, risk management and product applications
• measure and manage risk within complex swaps and options portfolios
• get to grips with sophisticated trading applications of swaps
• discover why swaps are increasingly used within structured debt instruments
• understand the applications of interest rate swaps and options in financial engineering

• The role of equity derivatives and their advantages to the issuer, the investor and the investment bank
• Exchange-traded and OTC equity derivatives structures, including equity swaps, covered warrants, equity baskets, convertible bonds, "cliques" and many others
• Methods for pricing equity derivatives in practice, including exotic options
• Structured solutions to efficient equity portfolio management
• Practical hedging and risk management strategies of equity derivatives

• The definition and pay-off function
  
• Specific examples where it has been used
  
• Pricing methods
  
• How to hedge
  
• What to do when the hedge fails
  
• Who would use such an option
  
• What are the potential benefits? What are the risks?
  
• Other issues: data collection, pricing, liquidity, obtaining volatilities and correlations etc.

• Master practical bond pricing techniques
• Get to grips with domestic, international, emerging and eurobond markets
• Understand duration and convexity
• Get to grips with fixed income mathematics
• See how different benchmarks are used
• Understand the interaction between interest rate swaps and bonds

• Pre-course foundation day provides definitions and jargon of the options markets
• Create trading strategies using options, spreads and combinations
• Exploit arbitrage opportunities using options
• Develop an intuitive approach to option pricing
• Profile interest rate and currency options
• Measure and forecast volatility

• Master the practicalities of structuring and pricing a wide range of derivative products, including: Reverse Floaters, Embedded Swaps, Leveraged Swap Linked Notes, Extendible / Cancelable Swaps, Embedded FX Options, Re-denominateable Loans, Equity Swaps, Capital Guaranteed Bonds, Reverse Convertibles, Commodity Linked Structures, Path Dependent Options, Range Floaters, Ladders/ Cliquets, Turbo / Power Structures, Default Swaps, First To Default Baskets, Total Return Swaps
• Discover the costs and risks of producing structured financial products

• the development of the swaps market, its current size and key players
• main swap instruments including interest rate swaps, currency swaps and simple non-generic swaps
• uses and applications of swap products
• swap portfolio risk management
• capital requirements, documentation and regulatory issues

• Gaining full insight into the origins of the capital markets, the key players and the role of the regulatory institutions
• Thorough grounding in the main financial products and how they are used, including: bonds, equities, futures and forwards, swaps and options
• Defining and exploring the key features and purposes of the financial markets, including fixed income markets, equity markets, money markets, foreign exchange market, swaps market, forwards and futures markets, options market and credit markets

• Increase the success of the different trades
• Identify which bonds hold the best value
• Optimise all aspects of your trading activities and increase profits
• Get to grips with new trading strategies, techniques and applications

• the credit derivatives market, its current size and key players
• uses and applications of credit derivatives
• the latest development in the credit derivatives market
• credit default swaps and the other most commonly used products
• credit derivatives pricing models
• capital requirements, documentation and legal considerations

Attend this intensive two-day programme and you will:

• Develop a thorough understanding of money market and foreign exchange instruments
• Gain the skills to calculate and price the extensive array of money market instruments
• Unravel the complexities of the markets considering regulatory concerns and money market risk management
• Understand the practical applications through the use of real-life case studies and detailed worked examples

• Master practical bonds pricing techniques
• Get to grips with bond mathematics
• Understand bond sensitivities to ensure effective investment and trading decisions
• Learn how futures, options and swaps can be used as hedging and trading technique in the bond market
• Get to grips with repos and reverses and learn how to price them
• Learn how to use strips to exploit arbitrage opportunities
• Use the term structure of interest rates to effectively price bonds and swaps
• Discover new insights into liability swaps, asset swaps and their relationship to the bond markets
• Understand the debt origination process

• DAY ONE Linear Derivatives: Forwards and Futures – Swaps Markets – Interest Rate and Currency Swaps: Structures, Pricing and Valuation
• DAY TWO Risk Management of Swaps – Equity Swaps – Counterparty Credit Risk Exposure – Non-linear Derivatives: Options
• DAY THREE Understanding Option Valuation – Option Risks – Interest Rate, Currency, Equity and Commodity Options – Hedging and Trading Using Options
• DAY FOUR Funding, Risk Management and Trading Applications of Interest Rate and Currency Derivatives – Equity Derivative Strategies – Credit Derivatives
• DAY FIVE Fixed Income Structures – Interest Rate Structures – Equity-linked Structures – FX-linked Applications – Commodity-linked Applications

• Issuers & Investors, Commercial Banking, Role of Investment Banks, Understanding Core Market Principles, Research & Analysis, Getting to Grips with the Major Products
• Origination & Syndication, Primary & Secondary Trading, The Rationale for Structuring, FRN Issues, Fixed Rate Bond Issues, Recovery Rates
• The Mechanics of Bond Pricing, Understanding the Yield Curve, Credit Pricing, Understanding the Swaps Market, Using Swaps in Practice, Swap Market Quotations and Calculations, Trading & Structuring Swaps
• Getting to Grips with the Theory and Practice of Options, Asset & Liability Mgmt, Capital Market Arbitrage Techniques, A Practical Introduction to Credit Derivatives
• Understanding Securitisation, Compliance & Risk Management Issues, Capital Adequacy Implications, Getting to Grips with Hedge Funds, Venture Capital and Private Equity, Risk Management & Regulation

• You will have the time you need to understand the wide array of financial products on offer and hands on experience of how they work in practice
• There will be a forecast simulation challenge running for the length of the programme – thus ensuring you can put theory into action immediately
• The unique residential nature allows us to cover a wide range of market focused case studies at a greater depth, level and understanding
• Steve McGann, your expert trainer, will be on hand throughout the week to offer his expertise, acting as your personal coach on a 1-to-1 basis outside of normal working hours of the course
• It will be tailored specifically to your needs. Case studies that are relevant to the industries and sectors YOU choose will be covered

• With commodity markets reaching new highs and volatility increasing, this course aims to give an understanding to the major commodity markets and how to trade them. Over three intensive days you will learn:
• The characteristics and risks of the different commodity markets and how to capitalise on the different opportunities they present
• The rationale for investing and trading commodity products via the cash and futures market
• How to understand the benefits commodities offer as an alternative asset sector
• Practical trading strategies and techniques for the different commodity markets, including:
  • Base metals
  • Energy
  • Softs
  • Precious metals
• How to optimise your use of commodity derivatives as a robust trading and hedging tool