Background
Many managers and staff who are not investment specialists, find themselves in increasing contact with Futures and Options. Since these products are unusual and can be complex, the result is often confusion and possibly expensive errors.
This one day course provides a comprehensive introduction to Traded Futures. No prior knowledge is assumed but delegates should have a general awareness of Fixed Income Investments and Equities.
A successor course, Options Primer presented on the next day, builds on this course to cover Options, again assuming no prior knowledge of the product.
Delegates
- Brokers and Dealers
- Fund Management Executives and Support Staff
- Operations Back Office and Mid Office Executives and Staff
- Custodians
- Internal and External Auditors
- IT Staff involved with these Products
- Lawyers, Compliance Officers and Regulators (CPD credit)
Content
What are Futures?
Background and Brief History. Main Markets.
Terminology and Types: Bond, Interest Rate, Index, Stock Futures. Outline of Commodity Futures.
Contract and Pricing details
Long and short positions
Profit and Loss calculations
Exercises.
What is Margin? Explanation of Initial and Variation Margin.
Use of Collateral.
Role of Clearing House and Settlement process.
Trading methods: Floor and Electronic trading.
Use of Futures in Speculation. Gearing effect. Example. Exercise.
Use of Futures in Hedging: Example. Exercise.
Use of Futures in Asset Allocation. Example. Exercise.
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