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E-LEARNING COURSES

In order to help the course attendants to refresh the required level of fundamental knowledge in financial markets and financial mathematics 2 distinctive e-learning/distance learning programmes will be put at their disposal around one month before the start of the online seminar.

International financial markets (estimated total duration: 2 hours)

• Financial Markets
• Financial Instruments: Securities
• Financial Instruments: Derivatives and Investment Funds
• Market Activities
• Market Players
• Future Trends

Financial Mathematics (estimated total duration: 8 hours)

• General financial calculations
• Time value and discount factors
• Term structure of interest rates
• Financial returns
• Statistics
• Variance and covariance, standard deviation, market model
• The variance components of assets in a linear regression model and some performance ratios

PRINCIPAL ONLINE SEMINAR

Applied Mathematics on fixed income products, bonds and futures on bonds (duration: 4 hours)

• Pricing of bonds
• ICMA Bond Principles
• Term structure of interest rates
• Identifying and measuring financial risk
• Bond futures and hedging techniques

Practical applications and bond portfolio management (duration: 4 hours)

• Return expectations
• Management strategies
• Diversification
• Currency as asset class
• Performance contributors and measurement

Options & Structured products (duration: 4 hours)

• Introduction, options, yield curves
• Pricing variables
• 4 basic strategies & their risk and reward
• Exercises – using options in Portfolio Management
• Capital guaranteed structures
• Reverse convertibles
• More exotic structured products
• Pricing and Documentation –
• Beware of the dangers!
• Exercises – understanding real life products

Sustainable Finance (duration: 4 hours)

• Introduction to Sustainable Finance
• Green Social and Sustainability Bond Trends
• Market Standards
• Taxonomy and Accounting

Repos and swaps (duration: 8 hours)

• Repos : Flow chart; Terms of the agreement; Collateral; Margins; Manufactured dividend; Market participants; Repo types; GC & special
• Swaps : Definition & characteristics; Types of swaps; Market share; Currency swaps; CDS; example; IRS characteristics; IRS cash flows; IRS quotation; Curves; Swap pricing mechanics; Constructing the short end; Constructing the long end; Zero curve examples; Curve adjustments; Interpolating the curve; Intermaturity spreads; Bond hedging; Forward starting swaps; Pricer example; Currency interest rate swaps; Beyond plain vanilla swaps

Financial analysis, cross-asset (duration: 8 hours)

• Methods, tools and instruments for asset selection
• Bonds and Equities: definitions, different markets, attributes
• Stock market quotation and orders in MiFID regulated markets
• Investment Funds: overview and fund selection methods / criteria
• Relevant websites

Risk Management (duration: 4 hours)

• The current market turmoil: origin of the crisis and features
• Choosing a risk management strategy
• The risk management framework and lessons learned during the crisis
• Organisational and operational aspects for the risk management unit
• Market risk, credit risk, operational risk and liquidity risk from the bank’s perspective
• Risk systems and lessons learned during the crisis

Securities clearing, settlement and custody (duration: 4 hours)

• Debt instruments; Equities; Entitlements
• Matching; Clearing; Settlement; Custody
• Future Issues