Investment Education PLC

Swaps Overview
Last Updated - 6 June 2014
Todays Date -
Return to CoursePrint course
Duration 1 day
Fee Euro 550

Fee  480 +VAT



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.


The course includes all the new changes in Collateral and Settlement.



  • 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




Market Overview

-Development of the swap market

-Key users and uses.


-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


-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

Collateralisation & settlement overview