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- III. Specialist Programmes
- Trading the Yield Curve with Interest Rate Derivatives
Trading the Yield Curve with Interest Rate Derivatives
Objectives
In this course we explain how to use exchange-traded and over-the-counter (OTC) derivatives to profit from expected changes in the yield curve. We compare and contrast different derivative instruments in terms of their interest rate exposure and counterparty credit risk and assess their relative value as tools for expressing views about the future level and volatility of interest rates.
Target Audience
Participants should have a basic understanding of fundamental financial market concepts such as present value and risk and return. Although no prior knowledge of interest rate derivatives is assumed, familiarity with the basic types of derivative security (forwards and futures, swaps and options) is recommended.
Length and Structure of the Course
The course consists of two days of lectures and case studies. Each day typically consists of four 90 minute session with coffee breaks in the morning and afternoon and a lunch break in the middle. There is no exam for this course but candidates will get a certificate of attendance.
Course Tutor
David Oakes
David trained as an economist at the London School of Economics and was lecturer in finance at the University of Exeter and Warwick Business School before joining the ICMA Centre at the University of Reading as Director of Academic and Professional Education in 1998. He co-ordinated ICMA Executive Education programmes from 1994-2004. David left the Centre in 2004 to set up Dauphin Financial Training Inc., which delivers advanced financial markets training to investment banking clients in New York and around the world.
In this course we explain how to use exchange-traded and over-the-counter (OTC) derivatives to profit from expected changes in the yield curve. We compare and contrast different derivative instruments in terms of their interest rate exposure and counterparty credit risk and assess their relative value as tools for expressing views about the future level and volatility of interest rates.
Target Audience
Participants should have a basic understanding of fundamental financial market concepts such as present value and risk and return. Although no prior knowledge of interest rate derivatives is assumed, familiarity with the basic types of derivative security (forwards and futures, swaps and options) is recommended.
Length and Structure of the Course
The course consists of two days of lectures and case studies. Each day typically consists of four 90 minute session with coffee breaks in the morning and afternoon and a lunch break in the middle. There is no exam for this course but candidates will get a certificate of attendance.
Course Tutor
David Oakes
David trained as an economist at the London School of Economics and was lecturer in finance at the University of Exeter and Warwick Business School before joining the ICMA Centre at the University of Reading as Director of Academic and Professional Education in 1998. He co-ordinated ICMA Executive Education programmes from 1994-2004. David left the Centre in 2004 to set up Dauphin Financial Training Inc., which delivers advanced financial markets training to investment banking clients in New York and around the world.
ICMA Executive Education
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