SWAPS - Current Market Developments in Equity Products, Fixed Income Products & Commodities
| Course Provider |  |
| Dates Duration | TBC 1 Day |
| Venue | TBC |
| Course Fees | Full Fee: €400 Network Members Fee: €250 |
| CPD Hours | 6 CPD Hours |
AIM AND APPROACH
This programme is designed to give participants an understanding of swap transactions, the applications of swaps and the accounting issues relating to them. The main characteristics of the principal types of swaps and how to process them will be covered, together with an overview of the Irish regulations for UCITS holding swap contracts (UCITS Notices 9 & 10 and Guidance Note 3/03).
PROGRAMME OBJECTIVES
Following the programme participants will be able to:
- Understand the features of swap contracts and the resulting counterparty exposure
- Know what contracts for difference are and how to account for them
- Understand the nature of Credit Default Swaps, Total Return Swaps, Interest Rate Swaps and Equity CFDs in the context of an investment portfolio
- Have an understanding of hedging techniques and how swaps are used for this and speculative purposes
- Understand how discounted cash-flow (DCF) calculations apply to the valuation of swaps
- Be able to account for broker information received on swap contracts
- Understand the UCITS regulations applicable to swaps and the calculation of exposure under GN 3/03.
- AUDIENCE
- The programme is intended for anyone who works with swaps in a Valuations, Pricing, Trustee or Accounting role. A basic understanding of fixed income and equity markets is preferable before attending this programme.
AGENDA
- Introduction to Hedging
o Identification of risks in a portfolio
o Hedging v Speculation - Derivatives - Terminology & concepts
o Swap agreements
o OTC Contract features
o Cash-flows - Introduction to Credit Derivatives
o Credit Default Swaps
o Worked examples
o Uses, valuation & accounting - Total Return Swaps
o Worked examples
o Uses, valuation & accounting
o Including Equity CFDs - Interest Rate Swaps
o Worked examples
o Uses, valuation & accounting - UCITS Notices & Guidance Note GN 3/03 Financial Derivative Instruments (Swaps)
- Accounting disclosures
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