Advanced Studies and Training Centre

Course Objectives
The objective of this 4-day treasury products training programme is to give a comprehensive knowledge of the treasury products used by banks and corporate treasuries in the management of treasury risks, as borrowing sources and investments, and in the day-to-day running of the finances of businesses and banks.
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Who Should Attend?
This course will be useful for all those who need to know what the treasury products are, who uses them, how they are used and why. From banks and financial institutions Recent Graduates and anyone transferring to the treasury area who needs to "get up to speed" by attending a single course Corporate Account Officers needing sufficient detailed knowledge to be able to communicate confidently with clients before calling in the specialists Support Personnel in operations who want to know more about the treasury products they handle – in settlement, IT, legal and credit functions Regulators and Central Bankers From companies other than financial institutions In-depth financial specialist knowledge may not be necessary and this course will be useful for: New Treasury Professionals who need a quick boost to reach a minimum level of knowledge to do the job Company Directors who need to know as much as they can about the treasury function Accountants, Lawyers, IT staff, Regulators and anyone who is connected with or affected by the activities of financial markets Those who need a concentrated overview of all the treasury products that are used in treasury management.
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Course Outline
Day 1 MONEY MARKET PRODUCTS A review of what money markets are Time Deposits as investments as short term funding placing and recovery domestic and off-shore Certificates of Deposit as investments benefits in liquidity management enhancing returns by trading Bill of Exchange, Promissory Notes and Commercial Paper as sources of short-term finance as investments operating clean acceptances operating documentary acceptances evaluating costs Sale and Repurchase Agreements uses in raising cash uses in reverse repo
Day 2 FOREIGN EXCHANGE MARKET PRODUCTS A review of some forex mechanics how the market operates how spot rates are quoted how forward rates are quoted Spot Foreign Exchange Transactions delivery and operations assumption of risk and exposures Forward Foreign Exchange Outrights costs and gains from interest differentials forward options constructing the hedge evaluating its outcome Foreign Exchange Swaps uses in liquidity management funding and investment swaps time management and position moving
Day 3 A CHECKLIST OF DERIVATIVE PRODUCTS what are derivative products? where do they come from? what are the general risks in these products? gearing and leverage contracts for differences FUTURES CONTRACTS General overview of exchanges, terminology and principles Currency Futures creating fx hedges and their evaluation Time Deposit Futures hedging money market borrowing and investment income Bond Futures as surrogate bonds general principles of trading and hedging SWAPS CONTRACTS Long-Term Currency and Interest Rate Swaps general overview of the swaps market cross currency index swaps creating fixed to fixed swaps creating long-dated fx contracts long-term foreign currency funding improving market access hedging long-term cashflows interest rate (plain vanilla) coupon swaps index swaps amortising swaps forward start swaps hedging future long-term funding issues
Day 4 USING OPTIONS Currency and Interest Rate Options using options to manage currency risk the decision taking process setting up strategies premium reduction strategies Interest Rate Options the decision taking process setting up strategies premium reduction strategies Caps and Floors using options in the medium term premium reduction devices
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