Fundamentals of Derivatives Seminar

Member $550 U.S

Non-Member $550 U.S

Program Agenda

 

A. Overview of Derivatives Products – 1 Hour, 32 Minutes

  • Definition and explanation of derivatives
  • Common types of derivatives:
    • Interest Rate Derivatives
    • Credit Derivatives
    • Commodities
    • Equities
    • FX
  • Major reasons for using derivatives
  • Examples of derivative users
  • OTC vs. exchange traded derivatives
  • Major venues for derivatives trading and clearing

     Olga Roman, CFA, Director of Research, ISDA

     Dan Vogel, Head of Financial Regulation, Legal, Bloomberg L.P.

B. Interest Rate Derivatives Products – 1 Hour, 48 Minutes

  • Overview of interest rate derivative
    • Major products
    • Notional outstanding vs. market value
    • Trading volumes
  • Interest rate swaps
    • Description
    • Terminology, convention and market quotes
    • Basic valuation
  • Interest rates caps, floors, swaptions and straddles
    • Description
    • Terminology and convention
    • How options work
    • Basic option strategies
    • Basic valuation
    • Settlement methods

     Ilene K. Froom, Partner, Reed Smith LLP

     Alex van Voorhees, Director & Assistant General Counsel, Bank of America Merrill Lynch

C. Credit Derivatives Products – 1 Hour, 35 Minutes

  • Overview of credit derivatives
    • Major products
    • Notional outstanding vs. market value
    • Trading volumes
  • Credit default swaps: single names and index CDS
  • Users of credit derivatives
  • Terminology, convention and market quotes
  • Valuation
  • CDS-bond basis
  • Credit events: single name and index CDS
  • Settlement methods and auctions
  • The ISDA Credit Derivatives Determination Committee

     Fabien Carruzzo, Partner, Kramer Levin Naftalis & Frankel LLP

     Olga Roman, CFA, Director of Research, ISDA

D. Central Clearing – 1 Hour, 43 Minutes (recorded with Part E.)

  • Overview of central clearing counterparties (CCPs)
  • Cleared vs. non-cleared derivatives products
  • Counterparty credit risk (netting, collateral, potential future exposure)

     Jonathan J. Ching, Counsel, Linklaters LLP

     Edward Mayfield, Executive Director & Assistant General Counsel, JPMorgan Chase & Co.

E. Basics of Derivatives Documentation

  • Derivatives Documentation Architecture
  • ISDA Master Agreements, including the Schedule and CSA
  • ISDA Definitions books
  • ISDA Protocols

     Ilene K. Froom, Partner, Reed Smith LLP

COURSE SAMPLE

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