FOREIGN EXCHANGE MARKETS - INTERMEDIATE LEVEL

Overview

This full day course builds upon the foundations laid in the ‘Introduction to the Foreign Exchange Markets Course’.

 

It is suitable for individuals who interact regularly with FX matters and provides them with the opportunity to work through the types of scenario they will encounter. As such there is plenty of practical work, with the aim of participants gaining an intuitive understanding of the processes that are involved when interacting with the markets.

 

This course is highly recommended for individuals preparing for the ACI examinations. Click here for more details:

 

https://acifma.com/aci-dealing-certificate

 

The workshop is very interactive with group sessions and questions. There are ongoing exercises and participation throughout the day.

 

Who should attend?

  •      Foreign exchange administrators
  •      Bankers, front office or back office staff
  •      Fund administrators
  •      Investment administrators
  •      Custodians
  •      Treasury administrators

 

Learning objectives / What will I learn?

At the end of this course, delegates will:

 

  •      Have an in-depth understanding of foreign exchange dealing practice
  •      Be able to calculate complex spot and forward rates, and option pricing
  •      Appreciate different strategies and their merits and risks

 

Content Overview

The Foreign Exchange Markets – Recap

 

  •      Spot Rates – Definition, Base Currency, Inverse rates
  •      Forward Rates – Definition, the Components & Forward Points
  •      Options – Definition, to Exercise or Not to Exercise
  •      Practical Exercises

 

Spot Rates

  •      Market Quotations and the universal language
  •      Currency Pairs
  •      Cross Currency Rates and Information Required
  •      Inverse Rates and impact on LHS & RHS of Rates
  •      Interest Rates and their Impact – Intuition
  •      Pre -Spot Rates – value Today and value Tomorrow
  •      Trading – Bid & Offer
  •      ‘Yours & Mine ‘
  •      Practical Exercises

 

Forward Rates

  • Interest Rate Differential & Forward Points
  • Impact of Changes in the Interest Rates
  • The concept of the Swap
  • Buying & Sell or Selling & Buying
  • Forward Dates – Standard Interbank Calendar dates and conventions- 1 month, 2 months, 3 months etc
  • Forward dates – Customer Bespoke Broken Dates
  • Forward Rate Calculation -combining the Spot Rate and the Forward Points
  • Forward Broken Dates – calculation
  • Arbitrage
  • Practical Exercises

 

Foreign Currency Options

  •      Different Types of Option and their nuances
  •      The Premium and the Factors that affect it – Some Terminology
  •      Value of an Option – In or Out of the Money
  •      Time value
  •      Intrinsic value
  •      Market Uses
  •      Practical Exercises

 

Option v Spot Rates v Forward Rates

  •      Option v Spot Rates v Forward Rates
  •      Strategy & Policy
  •      Corporate Business or Proprietary Trading
  •      Practical Exercises

 

Duration

1 day

Price

£350 + VAT

 

Add Your Heading Text Here

Contact: Gerry Ganly

 

Email: gerry.ganly@ganlytipper.com, call +44 (0)7624 490809

 

Gerry Ganly head shot

Gerry Ganly

Gerry Ganly is an experienced industry practitioner, with skills and knowledge across the financial sectors. He has held senior roles in compliance, cash management and treasury, and relationship management. He has worked in, and consulted with, banks, compliance, CSP and investment environments