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Certificated
Abu Dhabi, Doha, Riyadh, Johannesburg, Nairobi time zone
CPEs: 60
Level: Advanced
Tuition: £3,495.00
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NEW Advanced Financial Markets – Risks, Uses & Processes RM085

Location: Abu Dhabi, Doha, Riyadh, Johannesburg, Nairobi time zone

First Date: Aug 08 - 19 2021

Duration: 10 days/60 hours

Programme Director: Dr Gary van Vuuren

All Dates & Locations
Venue Details

Experience the highly-interactive expert-led social learning through Virtual Classroom via Cisco WebEx from Risk Reward.

All our 2021 Virtual Classroom events feature shared (or discrete) live chat between delegates and the expert, participate in topical surveys, polling questions, group exercises and case studies for a tried -and- true engaging and gratifying learning experience.

""This was my first full-day (multiple day) virtual training. The instructors ability to continually speak to the topics and keep attendees engaged was impressive. The instructors used numerous real world examples.""
Fund Manager, Investment House, Kuwait
Agenda Highlights

Session 1:  Macroeconomics

Session 2:  Financial Statements and Securities Valuation

Session 3:  Accounting Ratios and Financial Statements

Session 4: Time Value of Money, Compound, Discounting and Annualising

Session 5:  Risks and Returns of Short Terms Investments

Session 6:  Risk and Returns of Bonds

Session 7: Equity Risks and Returns

Session 8:  Risk and Returns of Real estate and Alternative Investments

Session 9:  Risk and Returns of Derivative Investments

Session 10:  Securities market structure, trading venues and custody and settlement processes

 

 

""Dr Gary did a great job keeping my interest throughout the course. I especially liked the humour.""
Risk Intern, Commercial Bank, Kuwait
Overview

Major banks and investment firms need to ensure that their management and staff possess the practical knowledge which can be immediately applied to business practises.

Advanced Financial Markets & Derivatives is a professional level programme which helps practitioners to think critically in the context of the analysis, interpretation and comparison of company information, making recommendations on fixed income and real investments, equity and much more.

Delegates will benefit from the comprehensive and detailed throughout appreciation of the financial markets, the risks associated with them, their uses and how they are are processed globally.

All delegates who complete this course will receive a Certificate of Completion issued by Risk Reward Ltd, an Approved Training Provider of the CISI.

This is also an in-depth exam preparatory course designed to for the Financial Markets unit  of the Chartered Wealth Manager Qualification and the Diploma in Capital Markets as issued by passing the examinations set by the Chartered Institute of Securities and Investments UK.

This CISI qualification is the final step in the CISI’s capital markets study pathway and offers individuals the opportunity to gain specialist knowledge of financial markets, bonds and fixed income, financial derivatives and fund management. For more information about the CISI qualifications and its pre requisite requirements, timetable and CISI fees please ask your Risk Reward Customer Services Team for assistance or visit cisi.org/capital markets diploma.

When considering your budget please note that CISI fees are additional to Risk Reward training course prices. 

""The course was excellent, covered quite a lot of materials but met all my expectations. The tutor was helpful and answered all our questions." "
UK Brokerage Firm, London
Who Should Attend
  • Heads of Risk, audit, and treasury together with management and team members
  • Business department heads
  • Wealth managers and support staff
  • Middle and back-office professionals
  • Treasury sales management and staff

Additional Course Information

What Does It Cover?

Macroeconomics

  •  Classical, Keynesian and Monetarist approaches in the context of macroeconomic government policy targets and instruments and macroeconomic government policy targets, instruments
  • Impact of macroeconomics on the behaviour of markets, sectors, companies, and investment themes
  • Effect of fiscal and monetary policy on inflation, interest rates, and exchange rates
  • Macro-economic statistics
  • Financial markets and services within the economy 

Financial Statements and Securities Valuation 

  • Core accounting concepts:
    • Dual aspect
    • Money measurement
    • Entity
    • Going concern
    • Asset Management
    • Accruals basis
    • Matching principle
    • Prudence
    • Consistency and comparability
    • Accounting for subsidiaries and overseas business
  • Construction of a balance sheet, income statement and cash flow statement
  • Financial statement accounting standards:
    • Legal compliance
    • Application and differences between UK GAAP, IFRS and IAS 2.6
    • Valuations and assumptions
    • True and fair concept
    • Septical and critical approach

Accounting Ratios and Financial Statements 

  • Profitability ratios:
    • Return on capital employed
    • Gross and net profit margins
    • Asset turnover and gearing
  • Liquidity ratios:
    • Working capital (current) ratio
    • Quick (acid test) ratio
  • Receivables, payables and inventory ratios
  • Financial gearing ratios for:
    • Debt / equity
    • Interest cover
    • Asset cover
  • Growth in sales, profitability, and capital
  • Investor ratios and earnings per share
  • Earnings yield, dividend yield and dividend cover
  • Financal analysis in the context of:
    • circumstances of the business
    • accounting policy and practice
    • distorting effects
  • Other interpretation tools
  • Trend and common size statements

Time Value of Money, Compound, Discounting and Annualising

  • Time value of money, present value and discounted cash flow to investment scenarios
  • Discounting and compounding:
    • Perpetuities
    • Continuous, annual and non-annual time periods
  • Standardised interest rate calculations:
    • APR
    • AER
  • Inflation and cash flows
  • Annualisation techniques

 Risks and Returns of Short Terms Investments 

  • Cash deposits and their characteristics:
    • definition and key properties of cash, risk, price, and return
    • historic performance of cash
    • principal problems and liquidity issues, plus implications should liquidity fall
    • onshore deposit and savings accounts
    • offshore accounts and tax implications
  • Use by investors of the money markets, money market participants, near cash and short-term money market instruments
  • Investment performance of Treasury Bills
  • Inflation and investment risk and return on short-term, liquid instruments

Risk and Returns of Bonds

  • Characteristics of bonds:
    • definition, types, and key properties of bonds
    • risk, price, and return – historic performance of bonds
    • principal problems and liquidity issues, plus implications should liquidity fall
    • maturities and redemption characteristics
    • coupons
  • Characteristics of UK and overseas government bonds:
    • Issuance
    • secondary markets
    • types of bond
    • repo market
    • borrowing /lending
    • trading and settlement
  • Characteristics of UK and overseas corporate bonds:
    • Markets
    • credit ratings
    • security
    • redemption
    • types of bond
    • fixed / floating coupon structures
    • covenants and sweeteners
    • domestic and Eurobond issuance – trading and settlement
  • Bond pricing
    • DCF evaluation
    • clean and dirty pricing of different types of bonds
    • index-linked issues and strips
  • Calculation of bond returns, uses and limitation in approaches
    • flat and running yield
    • gross and net redemption yield
    • grossed-up equivalent yield
    • real yields (inflation linked securities)
  • Impact of interest rates on the term structure of a bond
  • Risks of holding bonds and management of this risk

Equity Risks and Returns 

  • Characteristics of investing in listed equity
  • Definition and key properties of equities
    • risk, price, and return
    • historic performance of equities
    • principal problems and liquidity issues, plus implications should liquidity fall
  • Types of listed equity:
    • Characteristics
    • rights attached to classes of shares
  • Characteristics of investing in private equity
    • definition and key properties of private equity
    • problems due to information asymmetry
    • risk, liquidity and return
    • performance of private equity 

Risk and Returns of Real estate and Alternative Investments 

  • Property as a component of a portfolio
    • definition and the key properties of real estate
    • risk, price, value, and return
    • historic performance of real estate
    • principal problems and liquidity issues
  • Property investment vehicles and their application in an investment portfolio
  • Performance/risk/reward profiles of direct, indirect and buy to let investment approaches and appraisal methods
  • Commodities as an investment vehicle:
    • definition and key properties of commodities
    • problems associated with particular types of commodity investment
    • distinguish between direct and indirect investments in commodities
    • performance of commodities
    • principal problems and liquidity issues
    • price discovery for commodities
  • Infrastructure funds as an investment vehicle:
    • definition and key properties of infrastructure fund
    • risk, liquidity and return
    • performance of infrastructure funds
    • principal problems and liquidity issues
    • ability of investors to gain access to infrastructure
  • Hedge funds as an investment vehicle:
    • definition and key properties of hedge funds
    • performance of hedge funds and charges of hedge funds
    • fund of funds
    • principal problems and liquidity issues
  • Enterprise investment schemes, venture capital trusts, woodland, bloodstock, collectibles as investment vehicles:
    • definition and key properties
    • risk, liquidity and return
    • performance
    • principal problems and liquidity issues

Risk and Returns of Derivative Investments

  • Derivative market structures, features, and the regulatory and trading environment
  • Role, structure and regulation of global derivatives markets
  • Role of regulators and other supervisory bodies
  • Market terminology
  • Key market participants and roles
  • Derivative instruments and their key features:
    • financial derivatives
    • commodity derivatives
    • property derivatives
    • exotic derivatives
    • other derivatives
  • Principles, components, characteristics and risks of derivatives:
  • relationships to underlying
  • physically settled versus cash settled
  • derivatives strategies, risk / reward profiles and payoff diagrams
  • general pricing principles
  • futures, options
  • exercise of options, assignment of obligations, abandonment and expiry
  • types of contracts on equity, index, currency, bond and commodity assets
  • risks of derivatives:
    • legal
    • counterparty
    • settlement and dealing risks
    • market and other risks associated with derivative investing
  • Characteristics and risks of margin and collateral:
    • purpose, types and application of collateral and margin
    • parties involved – processing, collection and payment
    • pricing factors and calculation
    • delivery and settlement
  • Clearing and settlement of exchange traded and OTC derivatives
    • definition and purpose of clearing and settlement
    • roles and relationships
    • risks and guarantees
    • central counterparty clearing
    • clearing of OTC transactions
    • transparency and confidentiality
    • counterparties
    • documentation
    • settlement of transactions
  • Exchange traded derivatives:
    • convertibles, covered, and uncovered warrants
    • factors influencing pricing
    • bases for calculation and actual calculation
    • significance and uses
    • futures
    • factors influencing pricing and bases for calculation
    • significance and uses
    • options
    • factors influencing pricing and bases for calculation
    • significance and uses
  • Trading of exchange traded derivatives:
    • main UK and international exchanges
    • trading platforms
    • mechanisms, procedures, and processes
    • wholesale trading facilities
    • standardisation of deals, contracts, and agreements
    • market transparency, reporting and monitoring
    • order/instruction flow and order type
    • input and matching, trade registration processes
    • maturity, expiry, margin, liquidity, exercise and delivery
  • OTC traded derivatives
    • characteristics, risks, and pricing of OTC traded derivatives
    • forwards and forward rate agreements (FRAs)
    • OTC option products
    • contracts for difference
    • swaps
    • interest rate, currency, equity and commodity
    • credit default swaps
    • credit derivatives
    • structured products
  • Trading of OTC traded derivatives
    • mechanisms, procedures, and processes
    • wholesale trading facilities
    • standard and bespoke deals, contracts, and agreements
    • market transparency, reporting and monitoring
    • order/instruction flow and order type
    • confirmation, maturity, expiry, margin, liquidity, exercise and delivery

Securities market structure, trading venues and custody and settlement processes

  • Structure of the domestic market
  • Primary, secondary & dual listing
  • Process of issuing and gaining admission to a recognised investment exchange
  • ISDX, the AIM market and the official list and Issuing securities without a prospectus.
  • On Exchange & over-the-counter (OTC) trading
  • Transparency obligations
  • Markets for trading government and corporate bonds
  • Stock lending and CREST
  • Market abuse regime
  • UK Listing Authority, ESMA, Takeover panel and London Stock Exchange and market regulation
  • Multilateral Trading Facilities (MTFs), Systematic Internalisers and Dark pools
  • International markets
  • Clearing, settlement and custody process
  • Duties of central counterparty mechanisms and associated risks
  • International Central Securities Depositories (CSDs), the custody of assets & client money
  • Relevance & impact of corporate actions.

 

Learning Objectives

All delegates completing the course will receive a CDP equivalents Certificate in Advanced Financial Markets -Risks, Uses & Processes.

Delegates will gain specialist technical and behavioural knowledge, techniques and skills, experience ‘on-the-job-style’ training in group discussion and examples providing guidance on how to use financial instruments in practice.

This multidisciplinary team-taught 10-day course will enable practitioners to think critically, apply, and communicate clearly in the context of:

  • the analysis of macroeconomic government policy targets, instruments, and their effectiveness.
  • the impact of macroeconomics on the behaviour of markets, sectors, companies, and investment themes.
  • the analysis, interpretation and comparison of company information and financial statements in order to determine the prospects of a single company and investment class, as well as the relative prospects of different companies and investment classes.
  • the determination of prices and values for bonds and equities.
  • the evaluation, recommendation, and use of liquidity, bond, equity, and property-based investments for wealth management and private client purposes.
  • the evaluation, recommendation, and use of alternatives and derivatives-based investments for wealth management and private client purposes.
  • the analysis and comparison of market structure, trading venues, and financial indexes.
  • the analysis of the trading, clearing, settlement, lending, and custody process.
Social Learning & Methods

Highly interactive expert-led intensive presentation, Q&A, group real-time in-depth case studies, regulation and discussion supported by key principles and theory.

The virtual learning platform uses safe, industry preferred encrypted Cisco WebEx to optimize live face-to-face visual interaction, discrete chat, for polling and quizzes.

(An invitation via email with access link is included for all participants.)

Registration

NEW Advanced Financial Markets – Risks, Uses & Processes

Course Fee

Early Bird Discounts of 10% available by May 1, 2021

Course Fee (per person):
GBP £3,495.00 (+ UK VAT when applicable)

Number of delegates:

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