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Starweaver Instructor Team and Paul Siegel

This course will give you a broad overview of this rapidly-evolving section of the derivatives markets. Swaps in general will be introduced, and then the course will segue into an introduction to equity swaps, look at the various details of the contracts, the applications that market participants use them for, as well as pricing and valuation issues.

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This course will give you a broad overview of this rapidly-evolving section of the derivatives markets. Swaps in general will be introduced, and then the course will segue into an introduction to equity swaps, look at the various details of the contracts, the applications that market participants use them for, as well as pricing and valuation issues.

This course contains 18 lectures divided into5 sections, including: 

  • Introduction to Equity Swaps

  • Equity Swap Contracts

  • OTC Clearinghouses

  • Equity Swap Structures and Applications

  • Variance Swaps

More about this course and Starweaver

This course is led by a seasoned capital markets industry practitioner and executive with many years of hands-on, in-the-trenches financial markets sales, trading and analysis work. It has been designed, produced and delivered by Starweaver. Starweaver is one of the most highly regarded, well-established training providers in the World, providing training courses to many of the leading financial institutions and technology companies, including:

Ahli United Bank; Mashreqbank; American Express; ANZ Bank; ATT; Banco Votorantim; Bank of America; Bank of America Global Markets; Bank of America Private Bank; Barclay Bank; BMO Financial Group; BMO Financial Services; BNP Paribas; Boeing; Cigna; Citibank; Cognizant; Commerzbank; Credit Lyonnais/Calyon; Electrosonic; Farm Credit Administration; Fifth Third Bank; GENPACT; GEP Software; GLG Group; Hartford; HCL; HCL; Helaba; HSBC; HSBC Corporate Bank; HSBC India; HSBC Private Bank; Legal & General; National Australia Bank; Nomura Securities; PNC Financial Services Group; Quintiles; RAK Bank; Regions Bank; Royal Bank of Canada; Royal Bank of Scotland; Santander Corporate Bank; Tata Consultancy Services; Union Bank; ValueMomentum; Wells Fargo; Wells Fargo India Solutions; Westpac Corporate Bank; Wipro; and, many others.

Starweaver has and continues to deliver 1000s of live in person and online education for organizational training programs for new hires and induction, as well as mid-career and senior level immersion and leadership courses.

If you are looking for live streaming education or want to understand what courses might be best for you in technology or business, just google:

starweaver journey builder starweaver[dot]com

Happy learning.

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What's inside

Learning objectives

  • Understand what equity swaps are all about and how / why they exist
  • Describe the features and functions of equity swaps, and how they operate in the financial markets
  • Determine pricing and valuation issues of equity swaps
  • Evaluate various swap structures and variances
  • Apply portfolio diversification using swaps to mitigate or take financial risk
  • Explain how equity swaps, rainbow swaps and variance swaps operate

Syllabus

Introduction to Equity Swaps

Just a brief "hello" and explanation for you.

In this module, you will learn about financial swaps and how they are used to transfer risk between parties. Topics covered include swap structures, types of swaps, and the role of swaps in financial markets.

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In this module, you will learn about equity swaps and how they are used to transfer equity exposure between parties. Topics covered include equity swap structures, types of equity swaps, and the role of equity swaps in financial markets.

This module covers the potential advantages of using equity swaps compared to other financial instruments. Topics include the benefits of using equity swaps for portfolio management, risk management, and financing purposes.

Quiz: Module 1
Equity Swap Contracts

In this module, you will learn about the key contract terms and features of equity swaps. Topics covered include settlement provisions, termination events, and pricing considerations.

This module covers the various exposures created by equity swaps and how they can be managed. Topics include the economic and accounting implications of equity swaps, as well as strategies for mitigating risk.

In this module, you will learn how to create an equity swap contract illustration using real-world examples. Topics covered include calculating swap cash flows, determining net asset values, and analyzing potential outcomes.

In this module, you will learn how to create an equity swap contract illustration using real-world examples and how to determine the economic equivalents of the swap. Topics covered include calculating swap cash flows, determining net asset values, and analyzing potential outcomes.

Quiz: Module 2
OTC Clearinghouses

This module covers the differences between swaps and economic equivalents and the role of OTC clearinghouses in the financial markets. Topics include the benefits and risks of using OTC clearinghouses and how they facilitate the clearing and settlement of swaps.

This module covers the differences between swaps that are cleared through an OTC clearinghouse and those that are not. Topics include the benefits and risks of using cleared swaps, as well as the impact on counterparty risk and market transparency.

In this module, you will learn about the processes and procedures involved in OTC clearinghouses. Topics covered include the role of clearing members, margining, and default management.

Quiz: Module 3
Equity Swap Structures and Applications

This module covers the various equity swap structures that exist and the factors that impact their pricing and valuation. Topics include the use of financial modeling, the role of market conditions, and the impact of credit risk.

In this module, you will learn about the factors that impact the pricing of swaps and how to manage risk when using swaps. Topics covered include the use of financial modeling, early termination provisions, and strategies for mitigating risk.

This module covers the use of equity swaps for tactical asset allocation and portfolio management. Topics include the role of equity swaps in implementing investment strategies, the use of financial modeling, and the impact of market conditions.

In this module, you will learn how to use equity swaps to implement international diversification strategies. Topics covered include the role of equity swaps in accessing global markets, the use of financial modeling, and the impact of currency risk.

This module covers the use of equity swaps for diversifying concentrated portfolios. Topics include the role of equity swaps in reducing portfolio risk, the use of financial modeling, and strategies for mitigating concentration risk.

Quiz: Module 4
Variance Swaps

In this module, you will learn about rainbow swaps and variance swaps, which are specialized equity swaps used for managing risk and implementing investment strategies. Topics covered include the structure and pricing of these swaps, as well as their potential uses and risks.

This module covers the basics of variance swaps, including their structure and key contract terms. Topics include the use of variance swaps for managing risk, the role of financial modeling, and the impact of market conditions.

Instructor Doug Carroll discusses variance swap gains and losses, and applications of variance swaps, and concludes the course.

Quiz: Module 5
Last comments on this course and how to make it (and education) work for you.
Take-aways

Good to know

Know what's good
, what to watch for
, and possible dealbreakers
This course provides a structured approach to learning about Equity Swaps and how they operate in financial markets
Suitable for beginners looking to gain understanding of Equity Swaps
Explores the use of Equity Swaps in tactical asset allocation and portfolio management
Provides insights into using Equity Swaps for risk management and implementing investment strategies
Covers the role of OTC clearinghouses in facilitating the clearing and settlement of swaps
May be less relevant for experienced professionals seeking advanced knowledge or certifications in Equity Swaps

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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 Deep Dive Into Equity Swaps with these activities:
Review prerequisites - Functions in C++
Functions are covered in-depth during this course. It is therefore very beneficial to explore any resources that allow you to brush up on any previous knowledge you may have on this subject.
Browse courses on Functions
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  • Review documentation, tutorials, or books on functions in C++
  • Practice writing simple functions in a development environment
  • Complete practice problems or exercises on functions
Solve daily coding challenges
Solving coding challenges reinforces the problem-solving techniques taught in the course and helps improve your coding skills in C++.
Browse courses on Problem Solving
Show steps
  • Choose an online coding challenge platform or website
  • Select a challenge and read the problem statement carefully
  • Implement your solution in C++
  • Test and debug your code
  • Review solutions and discuss with peers or mentors
Read 'Effective Modern C++' by Scott Meyers
This book provides in-depth insights into modern C++ programming practices and design principles, complementing the topics covered in the course.
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  • Read the book thoroughly, focusing on the sections relevant to the course
  • Take notes and highlight important concepts
  • Complete the exercises and examples provided in the book
Four other activities
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Develop a small C++ project
Building a project allows you to apply the concepts learned in the course and gain hands-on experience in software development.
Show steps
  • Identify a project idea that interests you and aligns with the course topics
  • Plan and design the project, including its architecture and functionality
  • Implement the project in C++, following coding best practices
  • Test and debug your code
  • Document your code and write a README file explaining the project
Participate in online coding competitions
Participating in coding competitions challenges you to solve problems efficiently and improve your competitive programming skills.
Show steps
  • Choose a coding competition platform or website
  • Select a competition and read the problem statements carefully
  • Develop and submit your solutions within the specified time limit
  • Analyze your performance and identify areas for improvement
Mentor junior programmers or students
Mentoring others reinforces your understanding of C++ concepts and helps develop your communication and leadership skills.
Show steps
  • Identify opportunities to mentor others, such as through online forums or local programming groups
  • Provide guidance and support to junior programmers or students seeking to improve their C++ skills
  • Share your knowledge and experience, and encourage them to ask questions
  • Provide constructive feedback and help them overcome challenges
Contribute to open-source C++ projects
Contributing to open-source projects allows you to collaborate with others, learn from experienced developers, and enhance your understanding of real-world C++ development.
Show steps
  • Identify open-source C++ projects that align with your interests and skills
  • Review the project documentation and contribute documentation or code improvements
  • Participate in discussions and collaborate with other contributors
  • Submit bug reports and feature requests

Career center

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