FORWARDS, FUTURES & SWAPS

PROGRAM OUTLINE

This is an introduction to derivatives looking at ‘Delta’s’ products. It forms a basis for understanding options, an approach that will continue into following classes.

PRE-REQUISTES

None required.

CONTENT

Forwards
– Risk characteristics vs. underlying assets (equity, bond, commodities, interest rates)
– Hedging
– Cash or physical settlement

Futures
– Comparison to forward contracts
– Marking-to-market
– Index futures

Pricing
– Spot-forward arbitrage-feee-pricing
– Where arbitrage-free pricing falls down
– Trade cashflows

Swaps
– Equity swaps
– Interest rate swaps

COURSE DURATION

1 Day

WHO SHOULD TAKE THIS COURSE?

Staff and clients who are new to derivatives, who want to understand the futures and swaps markets and also those intending on studying options in the future

MODULES

These courses are included in this module

INTRODUCTION TO FINANCIAL MARKETS: INTEREST RATES AND FX

 To untangle the language and purpose of the financial markets and to enable students decide the direction of their futures studies/career.

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INTEREST RATE CALCULATIONS

To gain an understanding of the markets, terminology, and numerical workings of interest rates.

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FOREIGN EXCHANGE FUNDAMENTALS

To understand the language and market of foreign exchange.

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OPTIONS AND STRATEGIES

To introduce the basic building blocks of risk management and structured products, explain who uses them and why. Attendees will also learn how to put options together to create option strategies which are regularly traded in the market

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