Day 1

Session 1:

Global Financial Markets

• Background and development

• Defining our terms – capital market inter-relationships

• International time zones

• Why regulation is critical

• The role of the FSA

Session 2:

Market Participants

• Banks: central, clearing, investment, universal, on-line

• Brokers: voice VS electronic

• Asset Managers: Pensions funds, Mutuals, Insurance

• Hedge funds, Fund of Funds

• Information Vendors: Reuters, Bloomberg,

• Exchanges: LSE, Euronext LIFFE, CME, ICE, LME

Case Study- Asset Allocation

Session 3:

Money Markets

Definition and key features of:

• LIBOR VS Base Rate

• T.Bills, CD’s, Acceptances, CP, Money Market Funds

Session 4:

Fixed Income Markets

• Role of the Issuer, Investor, Intermediary

• Government VS Corporate Bonds,

• Domestic, Foreign and Eurobonds

• Bond structures, fixed, floating and hybrids

• The role of the Rating Agencies

• High Yield/Emerging Market Debt

• Yield Curves

• Repo/Reverse Repo

Day 2

Session 1:

Equity Markets

• Types of Equity

• Common Stock VS Preferred Stock

• Primary Markets- Issuance

• Secondary Markets - Trading

• Using Equity indices – FTSE, S&P, NASDAQ, STOXX

• Settlement, Clearing and Custody

Session 2:

Foreign Exchange Markets

• Market development

• Why exchange rates move – short and long term factors

• Range of currencies: major, minor, cross, EM

• Spot and Forward FX transactions

• New developments

Session 3:

Derivatives Markets

Definition and key features of:

• Exchange traded/OTC markets

• Market Volumes

• Futures, Swaps, Options

• Risk Management tools

• Practical uses and applications

Examples- Equity Derivatives in Practice

Course Close