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Excel Modeling for Financial Markets

  • Banking and Financial Markets, Corporate Finance, Derivatives, Financial Modelling, Risk and Credit
  • Duration: Two days
  • Information

    This is a Two-Day course

    Over a short space of time we have seen markets becoming ever faster, fuelled by savvier clients, increased competition and better technology. Staying ahead of the curve has meant professionals in financial markets have also had to become faster and more creative in their solutions. This in turn has led to an increasing reliance on Excel models, in particular in trading, sales and risk management.

    “Put simply and succinctly, despite the higher operational risk, Excel is everywhere - it is the primary front-line tool of analysis in the financial business. Most traders price deals in spread sheets and enter them in large-scale deal capture systems afterwards”

    Contributor to an internet forum (Wilmott, 2005)

    Objectives

    The objective of this 2-day training course is to give financial market professionals the tools they need to be more efficient and creative whilst building stable and transparent Excel models. In particular, there are two goals:

    • Increase Productivity, by giving delegates the skills required to be faster and more efficient when analysing data and building models

    • Reduce Risk, by discussing and illustrating the importance of design, structure and documentation

    Approach

    The course is hands-on, with extensive use of exercises to reinforce the various techniques. As well as the many exercises there are a number of practical sessions, where delegates work systematically through larger scale problems. These include:

    • Calculating discount factors from a swap curve

    • Building a model for evaluating cash flows using a term structure, using lookup functions and interpolation

    • Analysing imported data

    • Understanding someone else’s model and developing ideas to make it more transparent

    • Building a Black & Scholes option model. Creating a sensitivity matrix for small option portfolio, and using Solver to hedge the portfolio

    In addition to copies of the slides, the delegates will take away numerous spread sheets prepared by the course director containing lists of shortcuts, a comprehensive directory of Excel functions, with worked examples to illustrate the key functions. They will also take copies of the sheets they have built themselves, together with model answers.

    Schedule

    Session 1:

    Introduction

    • Overview of Excel

    • Organization of Excel functions

    Session 2:

    Financial Model Building

    • How Financial functions are grouped

    • Locating appropriate functions and potential pitfalls

    • Logic and Date functions

    • Lookup functions and interpolation

    Session 3:

    Keyboard Shortcuts

    • Using keyboard shortcuts to speed up all standard tasks

    • Tricks for efficient navigation of spread sheets

    • Changing Excels default options

    Session 4:

    Sensitivity and Scenario Analysis

    • Data Tables and Scenarios

    • XY Scatter Graphs

    Session 5:

    Data Manipulation and Analysis

    • Solving common problems when importing data from other sources

    • Tricks to speed up data manipulation using sorting and logic functions

    • Analysing imported datasets

    Session 6:

    Auditing and Debugging

    • Finding your way around other peoples spread sheets; looking for common errors

    • Using Audit; locating redundant parameters

    • Using Watch and Evaluate Formula

    Session 7:

    Good Model Design

    • Defining inputs, outputs and intermediate calculations

    • Creating a logical flow of information

    • Demarcation of logically related blocks

    Session 8:

    Statistical Functions for Pricing and Risk

    • Statistical functions and Data Analysis Tools

    • Using Solver and Goal Seek

    Session 9:

    Monte Carlo Simulations for Pricing

    • Designing a Simulation model

    • Random numbers

    Session 10:

    Add-Ins & Utilities

    • Extending functionality through Add-Ins

    • Sources of free utilities and help

    Course Close

    Register interest

    As every course we run is tailored to meet the specific needs of each client, we can only provide an estimate after fully understanding your specific requirements. Please complete the form below of call +44 (0) 208 894 4977 to discuss how Taylor Associates can help you.

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