Certified Derivatives Trader 2018 Certificate Program - Gruppe Deutsche Börse

Certified Derivatives Trader 2018 Certificate Program - Gruppe Deutsche Börse
Certified Derivatives Trader 2018
Certificate Program

Capital Markets Academy
2   Certified Derivatives Trader 2018

    Course Structure

    This Certificate Program trains participants in deriv-                Target audience
    atives trading completely. It qualifies you not only                  The Certificate Program is aimed at employees
    for trading on Eurex, one of the world’s leading deriv-               dealing in derivatives at banks and trading firms,
    atives exchanges, the program is also accredited                      as well as university students and retail investors.
    by the Financial Conduct Authority (FCA) and gives                    Participants should have basic knowledge about
    you entrance to the U.K. derivatives market.                          options and futures.

    One program – two qualifications                                      Course structure
    By attending the program and passing the Eurex                        The one-week course combines theoretical funda-
    Online System Training as well as the final exami-                    mentals and practical case studies with hands-on
    nation, participants gain the professional knowledge                  use of interactive media and calculation programs.
    and practical experience required for admission                       Topics covered include key concepts and principles
    as trader at the Eurex Exchanges.                                     relating to the creation, valuation and trading
                                                                          of financial derivatives. Underlying markets and
    Furthermore participants may complete additional                      market participants will also be covered.
    examinations from the Chartered Institute for Securi-
    ties & Investment (CISI) to achieve the authorisation                 Exam
    as Retail Investment Advisers in Derivatives from the                 The exam is conducted electronically. It includes
    U.K. regulator the “Financial Conduct Authority (FCA)”                true / false and multiple choice questions. Participants
    in respect of the Retail Distribution Review (“RDR”).                 are given 3 hours to answer 150 questions which are
                                                                          randomly picked out from a question pool of approx.
    Certified Financial Engineer                                          900 questions. The pass mark is 75 percent.
    The passed final exam is accepted by the European
    Institute of Financial Engineering and Derivatives                    Only participants who have attended the one-week
    (EIFD).                                                               course are allowed to take the final exam “Certified
                                                                          Derivatives Trader”. Participation in the course must
    Requirements                                                          not exceed 6 months.
    Participants should have a good understanding
    of derivative products.

    One program qualifies for two markets

                                                         Certified Derivatives Trader

         Additional approriate qualification (e.g. exams provided by
         the Chartered Institute for Securities & Investment (CISI) in:
           Regulation and Ethics
           Investment Principles and Risk
           Personal Taxation

         Qualified for U.K. retail activity of “Dealing and Advising                Qualified for trading at Eurex Exchanges
         on Derivatives”
Certified Derivatives Trader 2018   3


Continual Professional Development (CPD)                    Duration
The program has been approved by the Financial              Five days, 09:30 –17:00 CET daily plus examination
Conduct Authority (FCA) and for 32.5 CE credit
hours by the CFA Institute. Participants can also claim     Locations
CISI CPD hours.                                             Deutsche Börse AG                Eurex Zürich AG
                                                            Mergenthalerallee 61             Mannessestrasse 85/87
Eurex® Trading Architecture                                 65760 Eschborn                   8045 Zurich
Participants, who will register as trader at Eurex,         Germany                          Switzerland
are recommended to book the Eurex Online System
Training. By means of interactive exercises they learn      Deutsche Börse AG
the most important functions of the trading system.         Westferry House
The successful completion of the online training course     11 Westferry Circus
is accepted as practical experience for trading at Eurex.   London E14 4HE
                                                            United Kingdom

Tutors                                                      Fees
                                                            3.200 € (2,870 £)
                Walter Braegger                             2.950 € (2,650 £) for early bookings up to 6 weeks
                Partner, Nosco Partners AG,                 before the start of the program
                Financial Market Expertise,
                Zurich, Switzerland                         Dates
                                                            26.02.– 02.03.2018 (course in Eschborn in German)
                                                            13.04.2018 (exam date in Eschborn)
                Vincent Couson                              Early booking discount until 15.01.2018
                Partner, Nosco Partners AG,
                Financial Market Expertise,                 23.04.–27. 04.2018 (course in Zurich in Englisch)
                Zurich, Switzerland                         17. 05.2018 (exam date in Zurich)
                                                            Early booking discount until 12. 03.2018

                Paul North                                  03.09.– 07. 09.2018 (course in Eschborn in German)
                Trainer – Derivatives and                   30.10.2018 (exam date in Eschborn)
                Capital Markets,                            Early booking discount until 23.07. 2018
                Teddington, United Kingdom
                                                            26.11.–30. 11.2018 (course in London in English)
                                                            19. 12. 2018 (exam date in London)
                Stefan Toetzke                              Early booking discount until 15. 10.2018
                Founder, mmSuisse GmbH,
                Zumikon, Switzerland                        The final exam can be taken once a month at all our
                                                            representative offices.

                                                            Phone +49-(0) 69-211-1 3767
                                                            Fax    +49-(0) 69-211-1 37 63

4   Certified Derivatives Trader 2018


    Certificate Program Certified Derivatives Trader 2018

    Monday                          Tuesday                          Wednesday                         Thursday                      Friday

    Derivatives market              OTC Derivatives                  Portfolio research and            Relationships                 Eurex Strategy Master
    overview                        ■ Forwards vs. futures           construction                      ■ Put-call-parity             ■ Mapping risk
    ■ Origin and types of           ■ Forward rate agreements        ■ Overview of modern              ■ Special case: options on    ■ Simulating changes

      derivatives                     (FRAs) and contracts for         portfolio theory                  futures                       in price, vola and time
    ■ Forwards (swaps), futures       difference (CFDs)              ■ Use of beta and correlation     ■ Arbitrage: conversion /

      and options (exotics &        ■ Types of swaps –               ■ Fundamental vs. technica          reversal / box              Directional strategies
      warrants)                       e.g. interest rates, credit      analysis                        ■ Synthetic positions         ■ Bull spreads call / put

    ■ OTC vs. Exchange-based          default swaps                                                    ■ Synthetic positions using   ■ Bear spreads call / put

      products                      ■ ISDA agreements                Investment selection                future style options
    ■ General market terminology    ■ General pricing and            and administration                  on futures                  Volatility strategies
                                      valuation                      ■ Strategic vs. tactical          ■ (Hedged) protective put     ■ Straddle

    Market participants             ■ Applications of different        allocation                        purchasing                  ■ Strangle

    ■ Buy side and sell side          forwards                       ■ Selecting the right portfolio   ■ (Hedged) covered call       ■ Butterfly

    ■ Banks, funds, corporates      ■ Trading venues                   for clients                       writing                     ■ Condor

    ■ Brokers, dealers, sales,      ■ Structured products                                              ■ Risk Reversal               ■ Time spreads

      traders, market makers                                         Regulatory requirements
    ■ HFT and algo firms            Hedging, trading and             ■ Post financial crisis –     Pricing                        Hedge ratios
    ■ Regulators                    investing strategies               changes in regulation       ■ Intrinsic value and          ■ Correlation

                                    ■ Determine (simple)             ■ The BASEL accords and         time value                   ■ Beta

    Underlying markets                hedge ratio                      impact on banks             ■ Insurance value and          ■ Limitations of correlation /

    ■ Equities                      ■ Fine tuning the hedge ratio    ■ MiFid, Dodd Frank, Vocker     interest value                 beta
    ■ Fixed income                  ■ Basis risk                       Rule implications           ■ Negative time value          ■ Delta hedge

    ■ Money market                  ■ Outright trading               ■ Financial Conduct Authority ■ Variables affecting          ■ Gamma hedge

    ■ FX                            ■ Spread trading                   (FCA) and Prudential          the time value               ■ Using index vs. future

    ■ Commodities                   ■ Arbitrage principles             Regulation Authority (PRA) ■ Different types of volatility   in hedge ratios
    ■ Weather                       ■ Cash and carry arbitrage       ■ Client money and levels       and their importance         ■ Using CTD and basis point

                                                                       of protection               ■ Maximum pain and pin risk      value (BPV) in hedge ratios
    Exchange-traded futures         Clearing                         ■ Role of custodian                                          ■ Anticipating CTD-change

    ■ Contract design based on      ■ Managing counterparty risk                                   Sensitivities                    in hedge ratios
      different underlyings         ■ Counterparty risk              Options                       ■ Greeks: delta, gamma,

    ■ Working out a futures price     in different derivatives       ■ Options fundamentals          vega, theta, rho
    ■ Cost of carry and arbitrage   ■ Listed derivatives cleared     ■ Basic options positions     ■ Importance of gamma and

      relationship                    via Central Counterparty       ■ Eurex options                 vega: move and uncertainty
    ■ Applications of futures         (CCP)                          ■ Risk/reward profiles of     ■ Developing trading

    ■ Hedging, speculation and      ■ OTC derivatives cleared          the positions                 strategies
      arbitrage                       via CCP
    ■ Calculating profit and loss   ■ OTC derivatives not cleared

    ■ Basis consideration           ■ Netting principles

                                    Margining derivatives
                                    ■ Initial margin calculation
                                    ■ Variations margin
                                    ■ Portfolio-based margining

                                    ■ SPAN vs. historical VaR


                                    Role of Clearing Member
                                    and CCP
                                    ■ Types of clearing
                                    ■ Account structure

                                    ■ Default management


                                    Delivery and settlement
                                    ■ Cash vs. physical settlement
                                    ■ Determining invoice
                                      amount and convergence
                                    ■ Concept of cheapest

                                      to deliver (CTD)
                                    ■ Understand basis risk

                                    ■ Seller’s optionality

                                      in a futures contract

    Published by                                                     December 2017
    Deutsche Börse AG                                                Order number 1910-4760
    60485 Frankfurt / Main
    Germany                                                          Eurex® is a registered trademark
    www.deutsche-boerse.com                                          of Deutsche Börse AG.

Deutsche Börse AG
Capital Markets Academy
60485 Frankfurt am Main

Fax +49-(0) 69-2 11-1 37 63

                          Registration “Certificate Program Certified Derivatives Trader 2018”

Personal details          Name, first name                  Male                Female               Place and date of birth

Home address              Street / P.O. box                                                          Postcode, town

                          Phone, fax                                                                 E-mail

Business address          Employer

                          Street / P.O. box                                                          Postcode, town

                          Phone, fax                                                                 E-mail

Billing address               Home address                                                               Business address

Professional experience   Years in total                                                             Years in the financial sector

Course details / date         26.02.– 02.03. 2018 (Eschborn, course in German)                           03.09.– 07. 09. 2018 (Eschborn, course in German)
                              23.04.– 27. 04. 2018 (Zurich, course in English)                           26.11.– 30. 11. 2018 (London, course in English)

Terms and conditions      I hereby expressly confirm that I have correctly entered my details into the application for the program “Certified Derivates Trader”.
                          I have read the terms and conditions and accept them as part of the contract.
                          We process your personal data in accordance with our General Data Protection Regulation (www.deutsche-boerse.com > Privacy Policy).

                          Place, date                                                                Stamp, signature

                                                                                                     Name in printletters
Terms and conditions

General Terms and Conditions of Deutsche Börse AG relating to participation in fee-based                          7. Rescission, substitute participants, changes in bookings
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Deutsche Börse AG.                                                                                                lower. Any further claims of participants are excluded.
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in the catalogue in accordance with Clause 1; the course contents may be subject to modifications                 then only with the proviso that the contract between Deutsche Börse AG and the substitute participant
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cancellation or replacement.                                                                                      date for the same face-to-face training course up to three weeks prior to the commencement of the
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of registration.                                                                                                  the contract between Deutsche Börse AG and a substitute participant has not been concluded within
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in the course in question.                                                                                        of two weeks. The two-week revocation period shall commence one day after the participant sends
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to compensate for unavailing expenditure, the foregoing shall apply mutatis mutandis.                             Capital Markets Academy
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