Extensive course with the aim of producing certified Credit Spread Traders consisting of: Cyber*School preparation, practical seminar, exam preparation, final exam and certification
Target Group
- Staff with trading experience and/or credit experience aiming to enter Credit Spread trading
- Staff from the Credit Spread trading who wish to broaden their certified and practical knowledge in their field
Content
- Financial mathematics and statistical fundamentals
- Organisation of credit spread trading: bank conditions, interfaces to other trading departments
- Securities business: asset swaps, market practices
- Credit derivatives: operating conditions, market practices, documentation, contracts
- Bonds: operating conditions, market practices, documentation, analysis, markets
- Valuation of credit spread positions, credit spread regulations, data sources, total return, IAS consequences
- Risk assessment: methodology, conversion into credit spread trading, data sources
- Limit systems for credit spread trading: VaR limits and operational limits and their conversion
- Legal framework, equity positions in the banking book and trading book, minimum requirements with regard to the credit business, organisational consequences
- Credit research, methodology, rating
- Trading strategies, credit spread strategies, correlation strategies, forward credit spread positions, macro and micro hedges, index products
Structure
Block 1: Cyber School three months, approx. 40 hours:
- Financial mathematics
- Statistics
- Securities business
- Credit derivatives
- Contracts and documentation
- Legal regulations
Block 2: Seminar Credit Spread Bank Practical Training:
- Structuring of a credit spread book
- Trading strategies
- Valuation
- Risk assessment
- Organisational consequences
Block 3: Cyber School – three months, approx. 40 hours:
- Trading strategies
- Valuation
- Securitisaton
- Risk assessment
- Limit systems
- Credit research
Block 4: Seminar Preparation for the Exam & Testing and Awarding of Diplomas
- 80 multiple choice questions, 2 hours