Swaps Overview


Background

 

Swaps have increased both in variety and use over the last few years. They underpin many trading strategies and numerous investment products. While simple to those in detailed daily contact with Swaps, they appear confusing to those with less experience or to those without formal training.

 

This course provides a fairly detailed overview of Swaps, what they are, how they are used and the major varieties. No prior knowledge is assumed of Swaps but a good general knowledge of securities is assumed.

 

 

Delegates

  • Fund Managers new to Swaps
  • Dealers and Brokers new to Swaps 
  • Accountants and Internal and External Auditors (CPD credit)
  • Compliance Officers & Lawyers
  • Back Office Managers and Staff 
  • Institutional Salesmen 
  • IT & Systems Executives developing Systems for Swaps
  • Pension Fund Trustees considering the use of Swaps

CPD Credit available

 

 

Content

 

Market Overview

-Development of the swap market

-Key users and uses.

-ISDA

-Interaction with related markets 

 

Interest Rate Swaps 

-Definition of an interest rate swap

-Floating versus fixed rate asset/liability

-Cash flows over time

-Quoting a swap price

-Coupon, basis, asset, term, money market swaps

 

Uses of IR Swaps

-Converting floating to fixed and vice versa

-Arbitrage using swaps

-Gaining access to markets

-Increasing lending and reducing borrowing rates

-Role of broker and intermediary

 

Currency Swaps
-Definition of a currency swap

-Types of currency swaps

-Quoting a price

-Use of Currency Swaps

 

Asset, DIFF, Circus, Cocktail Swaps

 

Credit Default Swaps 

-Definition, Structure, Use

Swaptions

-Definition, Structure, Use 

 

Pricing and Valuation Overview

-Review of time value of money

-Discount functions

-Defining price and value of a swap

-NPV of fixed versus floating cash flows

-Amortising, accreting, roller coaster swaps 

-Valuing a Swap Set by Futures Prices

 


 

 

 

 

 

 

 

 

 




Todays Date:


Duration 1 day
Jersey
Fee Further details on request

London 22 September 2010
 16 February 2011
Fee £550 + VAT

MiamiDates on application







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