Swaps, Options and Futures

Level: Intermediate 

Learning path:  

Prerequisite courses 

  • Financial Mathematics 
  • An Intro to Derivatives 
  • Fundamentals of the Forex Market 
  • Fundamentals of the Fixed Income Market 
  • Fundamentals of the Money Market 

Post course learning path: 

  1. Equivalent courses: 
  • ACI Operations Certificate 
  • FX & Interest Rate Options 
  • ACI Dealing Certificate 
  1. Advanced Courses: 
  • Asset & Liability Management 

Target Audience: Treasury and trading teams, Internal Audit,  IT (treasury support/ systems) 

Duration: 12-15 hours 

Learning Outcomes 

Understanding Swaps and Options 

Different types of Swaps

The use of Swaps 

Cross Currency Swaps 

Calculating FX Swaps 

Understanding Options 

Understanding premiums 

Time Value 

Intrinsic Value 

Put-Call Parity 

Trading Strategies using Options 

Forward Forwards and Forward Rate Agreements 

Forwards and Futures 

Forward Exchange Contracts 

Managing Forward Exchange Contracts 

The settlement of a forward Rate Agreement 

Calculating a Forward Rate Agreement 

Overview: This workshop will teach those taking the workshop to understand the fundamentals of options, and  recognize the principal classes and types, understand the terminology, how they are quoted in the market, and how their value changes with the price of the underlying asset and the other principal factors determining the premium. We examine how the risk on an option is measured and how they are delta hedged. Learn to recognize basic option strategies, understand their purpose and understand the mechanics of and how to use money market interest rate derivatives to hedge interest rate risk. 

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