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Derivatives Operations    
 
   

 

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Objectives


The course is aimed at developing both a broad and in-depth knowledge of the key operational aspects of derivatives processing and is equally relevant to the buy-side and sell-side of the business. To achieve this, we examine the market infrastructure and product types before taking a look at the operational life-cycle of exchange traded and OTC derivative products.
 

 

Target Audience


This course is suitable for operational practitioners who have a good fundamental level of knowledge of derivatives, and who are looking to develop their understanding to a more advanced level. This course is an extension of the ICMA Operations Certificate Programme (OCP); however, there are no formal pre-requisites to taking this course.
 

 

Length and Structure of the Course


The course consists of two days of lectures, case studies and group exercises.  Each day typically consists of four, 90 minute sessions with coffee breaks in the morning and afternoon and lunch break in the middle.  There is no exam for this course but candidates will receive a certificate of attendance.

 

Course Tutor


Keith Dickinson

Keith is a Visiting Fellow and Programme Director for ICMA Executive Education’s Operations Certificate Programme (OCP) and an independent training and business consultant.
Keith spent twenty years in the operations areas of the equities, fixed income and derivatives markets for securities houses and financial institutions in London followed by almost twenty years preparing and delivering operational courses.


Course Brochure

Click here to download the course brochure.

 

Course Outline
 

Session 1 Contents 
Market Background

• Nature of the market (Exchange Traded & OTC)
• Market infrastructure (inlcuding exchanges and clearing houses)
• Market development & growth
• The drive towards standardisation


Session 2 Contents 
Overview of the Key Products
 
• Types of derivative: Forwards, Futures, Options & Swaps
• Products in terms of underlying asset type
• Reasons why derivatives are used


Session 3 Contents 
Key Issues in Derivatives Processing
 
• The role of operations
• The key risks (including operational & counterparty)
• Overview of the post trade processing
• Comparison with securities processing

Session 4 Contents 
The Pre-Trade Environment
 
• The role of margining and collateralisation
• Importance of documentation:
   -ISDA Master Agreement
   -Credit Support Annexes
   -Trade Confirmations

Session 5 Contents 
The Post-Trade Environment • Data requirements
• Position keeping & reporting
• Reconciliations
• Technology for the markets


Session 6 Contents 
Life Cycle of an Exchange Trade Derivative Trade • Trade cycle & trade capture
• Confirmations
• Margining (including the use of SPAN)
• Delivery (futures) and exercise (options) processes


Session 7 Contents 
Life Cycle of an OTC Derivative Trade
 
• Trade cycle & trade capture
• Confirmations
• Valuation
• Collateral

Session 8 Contents 
Current Issues

• Regulation & compliance
• Default management
• Standardisation
• OTC clearing

 

   
 

Details of the next seminar

Register

Iskander, Singapore/Malaysia
14-15 June 2012

Venue:
Address TBC
 

Approved accommodation:

Thistle Johor Bahru
Jalan Sungai Chat, 80720 Johor Bahru, Johor, Malaysia
Phone: +607 222 9234
Fax: +607 222 0153
 

To make a reservation at the hotel, please contact them directly and quote "University of Reading" to receive your preferential rate.
 
Please remember that it is your responsibility to ensure your accommodation is organised in advance as we are regrettably unable to assist in these matters.

 

 

Costs
 

The cost is £1,000.00 for ICMA Members and £1,300.00 for non-members.  
The following discount scale is offered:
2-4 candidates – 5% discount each*
5+ candidates – 10% discount each*
 

*Please note that discounts are applied by way of a refund to the organisation when registration has closed and the final number of candidates from the firm has been determined.


Payment can be made by secure online credit card or by invoice.  Please note that the BACS invoice method has an additional £50 admin fee.


Note that anyone requiring accommodation to take the course will be required to arrange this on their own; it is a class-based but non-residential course.


 

 

For more information


This course is also available on a group booking basis. 
Should you have any queries about this seminar please contact David Senior on
+44 (0)20 7213 0329 or e-mail: education@icmagroup.org
 

 

 

CFA Institute CE Approved Provider


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