Derivative instruments - Module 2 - Forward and future

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Anyone who wants to reach a sound understanding of the financial derivative instruments used by investment managers.

Erreichtes Niveau

Avancé

Dauer

2,00 Stunde(n)

Sprache(n) der Dienstleistung

EN FR

Ziele

Whoever has watched "The Wolf of Wall Street" has likely struggled to understand the jobs, products, jargon that surround financial markets. Some of us are still trying to get our way out of this financial jungle and clarify the associated strategies. Demystifying financial instruments is the key objective of the step-by-step programme we propose below.

This training curriculum is designed around 5 complementary building blocks:

  • Derivative instruments – Module 1 - The essentials
  • Derivative instruments – Module 2 - Forwards and futures
  • Derivative instruments – Module 3 - Swaps
  • Derivative instruments – Module 4 - Options
  • Derivative instruments – Module 5 - Credit derivatives

Our modular approach allows each participant to select his/her entry point in the programme to best fit cumulated knowledge and experience on this wide topic.

By the end of this course, participants will be able to:

  • define the general characteristics of forwards and futures;
  • gain in-depth understanding of how the instrument operates;
  • list how it can best be used on the market: be it in isolation or in combination with other instruments;
  • understand the valuation method and what can impact forwards' and futures's value;
  • identify major risks associated and determine controls that may mitigate them.

Inhalt

Principle of a forward or future contract, based on the yield curve; use of these products for hedging or for speculative trading purpose
Forwards contracts: the main types of forwards are presented, namely

  • on money market rates: FRAs
  • on currencies (forex forward), including NDFs contracts
  • on equities and on bonds

Futures contracts:

  • the exchange clearing room and margining system
  • theoretical vs market price of a future
  • invoiced amount at delivery
  • analysis of futures contracts,
    • on stocks and stock indexes
    • on currencies
    • on money market rates
    • bond futures
    • commodities futures

The content of the session is illustrated by real market examples. It is given in an attractive, understandable way.

Zusätzliche Informationen

This training will be coordinated by Frédéric Botteman, Partner at PwC Luxembourg.

The different modules will be animated by experts in derivatives.

Frédéric, Audit Partner, is specialised in the valuation of derivatives and illiquid securities. Thanks to this, he has gained a high expertise in the audit of guaranteed funds. He is also leading several SRI reporting for major IM players.

Frédéric is instructor in several courses linked to derivative instruments.

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