Financial Markets Update

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Durationn: 2 Days
Provider: Intuition

Learning Objective

  • Understand the share hedging process
  • Understand the features and benefits of loan funds.
  • Understand the loan secondary market and know the loan trading process
  • Understand the ETF creation process
  • Know how UCITS and AIFMD are changing then market
  • Understand the basics of private equity
  • Understand how investors get involved in the real estate market
  • Know the role of a prime broker in the investment process
  • Be able to understand the similarities and differences between CFD’s and TRS’s

Target Audience

The team working with James and his colleagues

Programme Overview

Share Class Hedging

  • Definition
  • Key pricing inputs
  • Share class hedging example
  • Cashflows and risks
  • Know how they are used by fund managers
  • Review of the principle of hedging
  • Netting for counterparty risk exposure

Loan origination funds/loan funds trading in the secondary market (LMA)

  • Loan Origination Definition
  • Unsecured loan
  • Collateralised Loan
  • Mortgage
  • Loan Rates … Floating Libor +spread
  • Agencies
    • Banks
    • Credit Unions
    • Building Societies
  • Loan Syndication
  • Leveraged Loans
  • The benefits of Loan Funds

Secondary Market for Loans

  • Who are the LMA?
  • Secondary Loan Market Definition
  • Reasons for selling and buying syndicated loans
  • Stages of an LMA Trade
    • Identify the Counterparty
    • Confidentiality
    • Due Diligence
    • The Trade
    • Premium / Par / Discount
    • Confirmation
    • Settlement
    • Time Line of a Trade
    • Transfer Mechanisms

 ETF Trading

  • Creating an ETF
  • Example of an ETF
  • How they are priced
  • Creation of an ETF

EFT UCITS

  • Defintion
  • Examples

 Day Two

UCITS and AIFMD

  • Global Exposure v Leverage
  • Relative and Absolute Funds
  • Depository Responsibilities under AIFMD
    • Look through record keeping
    • Asset Verification
  • Accountability
  • Reporting and Transparency
  • Overview of UCITS V
  • MIFID Overview

 Private Equity

  • Alternative Investments
  • Industry Structure
  • Players
  • LBOs
  • Venture Capital
  • MBOs
  • Distressed Investments

 Real Estate

  • REITS
  • Invest in Real State ETFs
  • Mutual fund
  • Construction Company

 Role of the Prime Broker

  • What does a Prime Broker do?
  • Who are the major PBs
  • What services do they offer?
  • Custodial Services

Clearing Broker

  • Futures Clearing
  • Role of the Clearing Broker
  • Counterparty Credit Risk (CCR)
  • Clearing OTC Derivatives

 Refresher of  Total Return Swaps (TRS)

  • Definition
  • Key pricing inputs
  • Cashflows and risks.

CFD’s

  • Comparison to TRS
  • Key pricing inputs
  • Cashflows and risks

Course Wrap Up

Trainer Profile

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