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FX Markets Derivatives, Cross Currency Swaps, and Credit Derivatives

Jack Farmer

Learn about Credit Default Swaps (CDS), and the basic information such as bankruptcy; restructuring; hazard rate; survival probability; credit spread; and other factors used in pricing and trading credit default products. We will also present some of the mathematical formulations and their applications to trading CDS.

Read more

Learn about Credit Default Swaps (CDS), and the basic information such as bankruptcy; restructuring; hazard rate; survival probability; credit spread; and other factors used in pricing and trading credit default products. We will also present some of the mathematical formulations and their applications to trading CDS.

As mentioned, the CDS market has grown drastically, and many new products and indices have been introduced. We will discuss some of these products and indices, and help you to get an overview of this exciting and somewhat complicated market today.

We're going to wrap up this course by going through a brief overview of asset swaps and the basic structure of them. The examples of asset swaps and their applications will be discussed.

What you'll learn

  • Explain Credit Default Swaps (CDS) and their importance in finance.

  • Describe CDS, their basic parameters, and their valuations.

  • Understand how to apply CDS to investment, hedging, and structuring.

  • Understand CDS, Credit Default Swap Index (CDX), and various other indices created to meet financial needs.

Understand Asset Swaps and their applications.

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What's inside

Syllabus

Module 01: Foreign Exchange Markets
Lesson 01: Overview
Lesson 02: Managing FX Risk
Module 02: Foreign Exchange Forwards and Futures
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Lesson 02: Deliverable and Non-Deliverable Forwards
Module 03: FX Swaps and Cross Currency Swaps
Module 04: Swaps and CDS
Lesson 01: Interest Rate Derivatives: Futures
Lesson 02: Asset Swaps
Lesson 03: Credit Derivative
Lesson 04: Portfolio Credit Default Swap
Lesson 05: Credit Indices
Module 05: Case Study

Good to know

Know what's good
, what to watch for
, and possible dealbreakers
Helps students understand Credit Default Swaps (CDS) and other financial instruments, preparing them for careers in the finance industry
Taught by Jack Farmer, an expert in credit derivative products
Covers a range of topics related to CDS, including pricing, trading, and applications in investment and hedging
Provides a comprehensive overview of the CDS market, including its history, growth, and the development of new products and indices
Includes a module on asset swaps, providing a foundation for understanding more complex financial instruments
This course is suitable for professionals in the finance industry, including portfolio managers, investment analysts, and risk managers

Save this course

Save FX Markets Derivatives, Cross Currency Swaps, and Credit Derivatives to your list so you can find it easily later:
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Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in FX Markets Derivatives, Cross Currency Swaps, and Credit Derivatives with these activities:
Review Basic Probability Concepts
Review foundational probability concepts to strengthen the understanding of the advanced concepts that will be covered in the course.
Browse courses on Probability
Show steps
  • Go through notes or textbooks on basic probability concepts.
  • Practice solving simple probability problems.
Explore CDS Market Trends
Follow online tutorials and articles to stay updated on the latest developments and trends in the CDS market.
Browse courses on Market Analysis
Show steps
  • Identify reputable financial news sources and industry blogs.
  • Subscribe to email alerts or RSS feeds for relevant topics.
  • Review and analyze market commentaries and research reports.
CDS Valuation Calculations
Engage in repetitive practice of CDS valuation calculations to enhance comprehension and accuracy.
Browse courses on Credit Default Swaps
Show steps
  • Set up a spreadsheet or use a financial calculator.
  • Input the necessary parameters, such as recovery rate, hazard rate, and time to maturity.
  • Calculate the CDS spread and premium.
Four other activities
Expand to see all activities and additional details
Show all seven activities
CDS Industry Blog Post
Write a blog post that discusses a specific topic or trend in the CDS industry, demonstrating understanding and critical thinking.
Show steps
  • Identify a relevant and engaging topic.
  • Research and gather information from credible sources.
  • Develop a clear and well-structured outline.
  • Write the blog post, ensuring accuracy, conciseness, and readability.
  • Proofread and edit the post carefully before publishing.
Non-Profit Credit Risk Assessment
Volunteer to assist a non-profit organization with assessing the creditworthiness of potential borrowers.
Browse courses on Credit Risk Assessment
Show steps
  • Contact local non-profit organizations and inquire about volunteer opportunities.
  • Review the organization's financial statements and other relevant documents.
  • Analyze the organization's financial health and creditworthiness.
  • Prepare a report summarizing your findings and recommendations.
  • Present your findings to the organization's management team or board of directors.
CDS Pricing Model Presentation
Develop a comprehensive presentation that explains the concepts and applications of a specific CDS pricing model.
Browse courses on Presentation
Show steps
  • Choose a suitable CDS pricing model.
  • Research and gather data on relevant factors.
  • Build the pricing model using appropriate software or tools.
  • Create presentation slides that clearly explain the model and its implications.
  • Practice presenting the model to peers or colleagues for feedback.
CDS Trading Simulation
Participate in a simulated CDS trading competition to apply knowledge and strategies in a realistic environment.
Show steps
  • Join an online or in-person CDS trading simulation platform.
  • Develop a trading strategy based on market analysis.
  • Monitor market conditions and execute trades accordingly.
  • Evaluate performance, adjust strategy, and seek feedback from experts.

Career center

Learners who complete FX Markets Derivatives, Cross Currency Swaps, and Credit Derivatives will develop knowledge and skills that may be useful to these careers:
Credit Analyst
A Credit Analyst is responsible for analyzing the creditworthiness of individuals and companies. They use their knowledge of financial markets and instruments, such as credit default swaps (CDS), to assess the risk of default and make recommendations on lending decisions. This course will help you develop the skills and knowledge necessary to succeed in this role, including an understanding of CDS pricing and trading, as well as other credit derivatives.
See salaries and explore the career path for Credit Analyst
Risk Manager
A Risk Manager is responsible for identifying, assessing, and managing financial risks for a company. They use their knowledge of financial markets and instruments to develop strategies to mitigate risk and protect the company's financial health. This course will help you develop the skills and knowledge necessary to succeed in this role, including an understanding of CDS and other credit derivatives, as well as how to use them to manage risk.
See salaries and explore the career path for Risk Manager
Portfolio Manager
A Portfolio Manager is responsible for managing investment portfolios for individuals and institutions. They use their knowledge of financial markets and instruments to make investment decisions that aim to meet the client's financial goals. This course will help you develop the skills and knowledge necessary to succeed in this role, including an understanding of CDS and other credit derivatives, as well as how to use them to manage risk and enhance returns.
See salaries and explore the career path for Portfolio Manager
Financial Analyst
A Financial Analyst is responsible for analyzing financial data and making recommendations on investment decisions. They use their knowledge of financial markets and instruments to identify undervalued securities and make investment recommendations. This course will help you develop the skills and knowledge necessary to succeed in this role, including an understanding of CDS and other credit derivatives, as well as how to use them to analyze risk and identify investment opportunities.
See salaries and explore the career path for Financial Analyst
Financial Consultant
A Financial Consultant is responsible for providing financial advice to individuals and businesses. They use their knowledge of financial markets and instruments, such as CDS, to help clients make informed financial decisions. This course will help you develop the skills and knowledge necessary to succeed in this role, including an understanding of CDS pricing and trading, as well as other financial instruments.
See salaries and explore the career path for Financial Consultant
Venture Capitalist
A Venture Capitalist is responsible for investing in early-stage companies with high growth potential. They use their knowledge of financial markets and instruments, such as CDS, to identify undervalued companies and make investment decisions that aim to generate superior returns. This course will help you develop the skills and knowledge necessary to succeed in this role, including an understanding of CDS pricing and trading, as well as other financial instruments.
See salaries and explore the career path for Venture Capitalist
Economist
An Economist is responsible for studying and analyzing economic data to make predictions about the future of the economy. They use their knowledge of financial markets and instruments, such as CDS, to understand the impact of economic events on financial markets and make recommendations on economic policy.
See salaries and explore the career path for Economist
Compliance Officer
A Compliance Officer is responsible for ensuring that a company complies with all applicable laws and regulations. They use their knowledge of financial markets and instruments, such as CDS, to identify and mitigate compliance risks. This course will help you develop the skills and knowledge necessary to succeed in this role, including an understanding of CDS pricing and trading, as well as other financial instruments.
See salaries and explore the career path for Compliance Officer
Insurance Underwriter
An Insurance Underwriter is responsible for assessing and managing the risk of insurance policies. They use their knowledge of financial markets and instruments, such as CDS, to determine the likelihood of a claim being made and set the appropriate premium. This course will help you develop the skills and knowledge necessary to succeed in this role, including an understanding of CDS pricing and trading, as well as other financial instruments.
See salaries and explore the career path for Insurance Underwriter
Hedge Fund Manager
A Hedge Fund Manager is responsible for managing hedge funds, which are investment funds that use a variety of strategies to generate profit. They use their knowledge of financial markets and instruments, such as CDS, to make investment decisions that aim to generate superior returns. This course will help you develop the skills and knowledge necessary to succeed in this role, including an understanding of CDS pricing and trading, as well as other financial instruments.
See salaries and explore the career path for Hedge Fund Manager
Private Equity Investor
A Private Equity Investor is responsible for investing in private equity funds, which are investment funds that invest in private companies. They use their knowledge of financial markets and instruments, such as CDS, to identify undervalued companies and make investment decisions that aim to generate superior returns. This course will help you develop the skills and knowledge necessary to succeed in this role, including an understanding of CDS pricing and trading, as well as other financial instruments.
See salaries and explore the career path for Private Equity Investor
Derivatives Trader
A Derivatives Trader is responsible for buying and selling derivatives, such as CDS, options, and futures. They use their knowledge of financial markets and instruments to identify trading opportunities and execute trades that aim to generate profit. This course will help you develop the skills and knowledge necessary to succeed in this role, including an understanding of CDS pricing and trading, as well as other derivatives.
See salaries and explore the career path for Derivatives Trader
Quantitative Analyst
A Quantitative Analyst is responsible for developing and using mathematical models to analyze financial data and make investment decisions. They use their knowledge of financial markets and instruments to create models that can identify undervalued securities and make investment recommendations. This course will help you develop the skills and knowledge necessary to succeed in this role, including an understanding of CDS and other credit derivatives, as well as how to use them to develop and use mathematical models.
See salaries and explore the career path for Quantitative Analyst
Actuary
An Actuary is responsible for assessing and managing financial risks for insurance companies and other financial institutions. They use their knowledge of financial markets and instruments, such as CDS, to develop and implement strategies to mitigate risk and protect the company's financial health. This course will help you develop the skills and knowledge necessary to succeed in this role, including an understanding of CDS pricing and trading, as well as other financial instruments.
See salaries and explore the career path for Actuary
Investment Banker
An Investment Banker is responsible for advising companies on mergers and acquisitions, capital raising, and other financial transactions. They use their knowledge of financial markets and instruments to structure and execute transactions that meet the client's financial goals. This course will help you develop the skills and knowledge necessary to succeed in this role, including an understanding of CDS and other credit derivatives, as well as how to use them to structure and execute transactions.
See salaries and explore the career path for Investment Banker

Reading list

We've selected six books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in FX Markets Derivatives, Cross Currency Swaps, and Credit Derivatives.
Cover image
Financial Risk Manager Handbook
Save
Provides a comprehensive overview of the credit derivatives market, including CDS, CLNs, and other related products. It valuable resource for anyone who wants to learn more about these complex financial instruments.
Financial Risk Manager Handbook, + Test Bank: FRM...
Paperback
$$$$
Financial Risk Manager Handbook (Wiley Finance 406)
Kindle Edition
$$$$
Cover image
Asset Management: Tools And Issues
Save
Provides a comprehensive overview of the credit risk modeling process, including the use of CDS and other credit derivatives. It valuable resource for anyone who wants to learn more about this important topic.
Asset Management: Tools and Issues
Hardcover
$$$$
Asset Management: Tools And Issues
Kindle Edition
$$
Cover image
Fundamentals of Futures and Options Markets, Global...
Save
This textbook provides a comprehensive overview of the options, futures, and derivatives markets. It valuable resource for anyone who wants to learn more about these complex financial instruments.
Fundamentals of Futures and Options Markets, Global...
Paperback
$$$
Cover image
The Learning and Teaching of Calculus
Save
This textbook provides a comprehensive overview of the derivatives market. It valuable resource for anyone who wants to learn more about these complex financial instruments.
The Learning and Teaching of Calculus
Paperback
Check
The Learning and Teaching of Calculus
Kindle Edition
Check
Cover image
Fixed Income Mathematics, Fifth Edition: Analytical...
Save
This textbook provides a comprehensive overview of the fixed income securities market. It valuable resource for anyone who wants to learn more about these complex financial instruments.
Fixed Income Mathematics, Fifth Edition: Analytical...
Hardcover
$$$
Fixed Income Mathematics, Fifth Edition: Analytical...
Kindle Edition
$$$
Cover image
Risk Management and Financial Institutions
Save
This textbook provides a comprehensive overview of the financial risk management process. It valuable resource for anyone who wants to learn more about this important topic.
Risk Management and Financial Institutions (Wiley...
Hardcover
$$$
Risk Management and Financial Institutions (Wiley...
Kindle Edition
$$$

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Course image
Effort
1 to 2 hours per week for 3 weeks
Level
Introductory
Via
edX
Institution
New York Institute of Finance
Instructor
Jack Farmer
Language
English
Transcripts
English Español Français Português Deutsch 中文 العربية हिंदी Türkçe తెలుగు Bahasa Indonesia Kiswahili
This course belongs to a collection called Derivatives. It's comprised of six courses:
  1. Forwards and Futures
  2. Derivatives Professional Certificate Examination
  3. Swaps Fundamentals
  4. FX Markets Derivatives, Cross Currency Swaps, and Credit Derivatives (viewing)
  5. Option Contracts, Participants, Strategies, and Pricing
  6. Greeks, American Options and Volatility
Good to know
Helps students understand Credit Default Swaps (CDS) and other financial instruments, preparing them for careers in the finance industry
Taught by Jack Farmer, an expert in credit derivative products
Covers a range of topics related to CDS, including pricing, trading, and applications in investment and hedging
Provides a comprehensive overview of the CDS market, including its history, growth, and the development of new products and indices
Includes a module on asset swaps, providing a foundation for understanding more complex financial instruments
This course is suitable for professionals in the finance industry, including portfolio managers, investment analysts, and risk managers
Share and help others discover this course.
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