IRS and Financial Swaps - Fundamentals

Formation inter-entreprise

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8,00 heure(s)

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At the end of this course, you will have a good understanding of swaps and their peculiar terminology having acquainted yourself with:

  • The main historical facts and financial derivatives which have marked their development, the financial volumes they represent today and the parties involved.
  • What they consist of, elements to be specified (currency, maturity, nature of flows…) in concluding them and what they are used for
  • The two existing major families of swaps (foreign exchange swaps and rates swaps), as well as their respective objectives, characteristics and players
  • The many possible variants in terms of rates and other types of swaps
  • The basic principles governing the working and organisation of the swaps market. To achieve this, you will have analysed in detail:
    • Rates agreement: definition and characteristics of a rate, frequency of payment, bases, reference indices, fixing…
    • The component parts of the full specification of a swap: life cycle, general characteristics, data relating to the "legs" of the swap, risks (transaction, settlement, commercial, execution)
  • Figured examples illustrating their economic and financial logic as well as the underlying issues
  • The constraints of EMIR (European Market Infrastructure Regulation) which imposes new requirements regarding the use of derivatives. (Reduction of risks related to Over The Counter derivatives and transparency)


  • Basic principles
  • Origin of swap transactions
  • International development of the market
  • Main parties involved
  • Various types of swaps:
    • Currency swaps
    • Interest rate swaps
    • Other types of swaps
  • Product life cycle
  • Contracts and confirmations
  • Isda risks

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