Course Outline
 

Course Title

  

Futures and Forwards

Course Category

    Online
Target Audience  

This course is desinged for institutional investors who wish to gain a complete understanding of the fundamentals of interest rate futures, their use and valuation.

Continuing Education

  

Professional Development:
CA, CGA, CMA, IDA

7 MX CE Credits

Prerequistes

   Participants must have a basic understanding of financial markets, fixed income securities and derivatives.
Objectives   Upon completion of this course, participants will have a complete understanding of the unique features of interest rate futures, the underlying principles used to evaluate futures contracts and their various uses in hedging and speculating strategies.
Subject by level  

Topics  


Introduction

The BAX Contract
-  Basic Features
-  Payoff Profile of a BAX Contract
-  Marking to Market and Margin Account
-  Forward Rates and the Pricing of the BAX Contract

The CGB Contract
-  Introduction
-  Conversion Factors and the Cheapest-To-Deliver Bond
-  The Theoretical Price of a CGB Contract
-  The Implied Repo Rate
-  T-Note and T-Bond Futures

Utilizing Futures Contracts
-  Introduction
-  Hedging Applications
-  Duration-Based Hedging
-  Basis Risk
-  Interest Rate Futures vs Interest Rate Forwards
-  Speculating on Interest Rate Changes
-  Synthetic Opportunities

Self test

Glossary of terms

 
Duration   This online course is equivalent to an in-class course with a duration of 7 hours. Online courses are self-paced, and the time necessary to complete each course will vary with each student
Time to comple the course   Six months (user account can be deactivated after this period)
Date   Available now
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