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Derivatives

Develop a comprehensive, practical understanding of derivative instruments including market conventions, contract specifications, valuation, trading strategies and the regulation of derivatives markets.

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What you'll learn

Learn to price forward and futures contracts.
Be familiar with futures contract specifications and market conventions.
Understand the valuation of a variety of swap contracts.
Learn how to extract credit risk measures from CDS spreads and asset swap spreads.
Understand common trading strategies using futures, forwards, swaps and options.
Develop a conceptual understanding of the Black-Scholes-Merton option valuation model.
Use option sensitivities (the Greeks) to determine the impact of changing model parameters on option prices.
Understand basic hedge accounting using futures, forwards, swaps and options.

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What's inside

Six courses

Forwards and Futures

(4 hours)

Forwards and Futures play an extremely important role in finance and investment. They enable market participants to establish large positions with smaller market impacts and lower transaction costs. This course discusses the basic financial theories and concepts relevant to Forwards and Futures, their relationship with the underlying security, and their application in equity, commodity, and interest rate markets.

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Derivatives Professional Certificate Examination

(1 hours)

Earn a professional certificate and stand out in your field. The Derivatives Professional Certificate Examination from the New York Institute of Finance is the next step after completing the Derivatives program from NYIF.

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Swaps Fundamentals

(4 hours)

Swaps are the most prevalent derivatives used by corporations and financial institutions to exchange future cash flows. This course will discuss the basic financial theories and concepts relevant to swaps, as well as their pricing and applications. We will also look into different types of swaps, including Interest Rate, Equity, Cross-Currency, Quanto, Credit Default, and Asset Swaps.

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FX Markets Derivatives, Cross Currency Swaps, and Credit Derivatives

(4 hours)

Learn about Credit Default Swaps (CDS) and their basic parameters, valuations, and applications in investment, hedging, and structuring.

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Option Contracts, Participants, Strategies, and Pricing

(4 hours)

In this course, we'll cover the basics of option pricing, including discounting, future value, and the Law of No-arbitrage. We'll define call and put options and examine the six key inputs that determine their prices. We'll also discuss the types of participants in options markets and the trading strategies they use. Finally, we'll analyze option pricing in detail, using binomial models, Black Scholes, and Monte Carlo simulations.

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Greeks, American Options and Volatility

(4 hours)

In this course, you will learn to price options using three methods: the Black-Scholes formula, the binomial tree, and Monte Carlo simulation. You will also learn about the volatility smile and the Heston model, which relaxes the assumption of constant volatility.

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Time

1260 hours

Via

edX

Institution

New York Institute of Finance

Instructor

Jack Farmer

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