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Duration 14 hours
Course Outline
The Global Capital Markets
- Defining a 'financial market place'
- The historical evolution of the modern global financial system
- The influence and role of financial media
- Anatomy of major capital markets:
- Key players: Exchanges, Clearers, and Regulators
- The recent surge in global investment activity
- Distinguishing between the various types of 'Stock Exchanges'
- The position of Stock Exchanges within the contemporary market structure
- Comparison of US, European, Middle Eastern, and Asian Stock Exchanges
Financial Markets Regulation:
- Understanding Capital Adequacy Requirements
- Basel I standards
- Basel II standards
- Basel III framework and its operational implications
- Identifying sources for new product development
The Different Asset Classes and Their Markets
- Current trading activities on Stock Exchanges
- Equities: Analyzing Common and Preferred shares
- Bonds: Distinguishing between Corporate and Government issues
- Bonds: Fixed, Floating, and Zero-coupon structures; Understanding the Yield Curve
- Money Market instruments
- Dynamics of the currency markets
- Investor motivations: Drivers for buying and selling
- Balancing Income generation and Capital Gain
- Interconnections among various asset classes
- Relationships between Exchange-traded and Over-The-Counter markets
Short Term Money Market
- Certificates of Deposit
- Treasury Bills (T Bills)
- Commercial Paper
- Trade paper and Bank Acceptances (BAs)
- Standard market norms and practices
- Identification of key Market participants
The Different Types of Stock Exchange Investor
- General Investors
- Fund managers
- Hedge funds
- Direct Stock Exchange participants
- Roles of Investment banks, Stockbrokers, Hedge Funds, and Prime Brokers
- Intra-market dynamics: The buy side versus the sell side
The Role of the Stock Exchange
- Locations and platforms for product trading
- The critical importance of the OTC market
- Historical development of Stock Exchanges
- Overview of major Stock Exchanges in the current landscape
- Architectural differences in US, European, and Asian Markets
- Asset classes traded on Stock Exchanges globally
- Distinguishing Primary and Secondary markets
- Key hubs: New York, Euronext, London, Shanghai, and Hong Kong
- The appeal of 'listed' companies to the investment community
- Leveraging Stock Exchanges for liquidity pooling and capital raising
- Strategies and methods for Capital Raising
- Company 'Floats': Various methodologies
Clearing & Settlement
- Settlement processes and associated risks
- Diversity of Settlement Conventions across major markets
- Applying these concepts to Equities, Bonds, and Derivatives
- The workflow of Derivatives Clearing
- The function of the Central Counterparty (CCP)
- CCP services offered to Stock Exchanges
- Management of Margin
- The security trade settlement lifecycle
- Pre-settlement procedures
- Final Settlement
- Mitigating potential issues: Unmatched trades, delayed settlement, and failed delivery
- Enforcing Stock Exchange Settlement Discipline
- The 'Life Cycle of a Trade': Connecting the process from execution to settlement
- The role of International Central Securities Depositories (ICSDs) and Central Securities Depositories (CSDs), including LCH.Clearnet, Euroclear, Crest, Clearstream International, and the DTC
Custody
- The function of Custodians in Stock markets
- Settlement execution and safe keeping of assets
- Income collection and handling Corporate Actions
- Cash management and funding transactions
- Provision of additional support services
- Accounting procedures
- Stock Lending and collateral management
- Trustee services
- Generation of Valuation reports
Alternative Investments
- Defining Alternative Investments
- Structured products: Assessing risks and returns
- Hedge funds: Analyzing risks and control mechanisms
- Venture Capital: Valuation challenges, risk assessment, and control
- Private Equity and Angel Finance
- Application of derivatives in Asset Management
- Comparing OTC and ETD environments
- Categories of Derivatives utilized in Asset Management
- Futures
- Options
- Risk and control frameworks for derivatives, covering documentation, valuation, and reporting
The Management of Quoted Equity Investment
- Risks inherent in the acquisition of securities
- Risks involved in the ongoing management of securities
- Impact of corporate actions on risk profiles
- Pricing mechanisms for quoted equity investments
- Identification of major risk sources
- Implementation of general controls within equity investment
- Specific risks associated with international equity markets
The Management of Quoted Fixed Income Investment
- Risks related to the acquisition and disposal of fixed income securities
- Utilization of credit ratings and associated risk considerations
- Risks arising from the pricing of fixed income securities
- Risk and control measures within corporate fixed income processing
- Risks specific to Government Securities
- Understanding Sovereign risk ratings
- Methodologies for the valuation of government securities
- Risk and control protocols within sovereign bond processing
The Market and Credit Risks of Investing in Global Markets
- Assessment of Market risks
- Calculation of VAR
- Techniques for Market risk modelling
- Evaluation of Credit Risks
- Methodologies for Measuring Credit risks
- Broader Global Market Risks
- Money Market Risks
- OTC specific Risks
- Exchange specific risks
Testimonials (1)
The lecturer is very knowledgeable and can substantiate theories with his own personal experiences.
