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Course Outline
The Global Capital Markets
- Defining the concept of a 'financial market place'
- The historical evolution of the modern global financial market
- The influence and role of financial media
- Architectural structure of major capital markets:
- Key roles: Exchanges, Clearing Houses, and Regulators
- The contemporary surge in global investment flows
- Distinct categories of 'Stock Exchanges'
- The positioning of Stock Exchanges within today's market landscape
- Comparison of US, European, Middle Eastern, and Asian Stock Exchanges
Regulatory Frameworks in Financial Markets:
- Capital Adequacy Requirements
- Basel I standards
- Basel II advancements
- Basel III and its broader regulatory implications
- Frameworks supporting New Product Development
Asset Classes and Their Respective Markets
- Current trading instruments on Stock Exchanges
- Equity instruments: Common and Preferred shares
- Fixed Income instruments: Corporate and Government bonds
- Bond structures: Fixed, Floating, and Zero-coupon; analysis of the Yield Curve
- Instruments of the Money Market
- Overview of currency markets
- Motivations behind investor purchases and selling pressures
- Dynamics of Income vs. Capital Gains
- Interdependencies between various asset classes
- The symbiotic relationship between Exchange-traded and Over-The-Counter (OTC) markets
Short-Term Money Market Mechanisms
- Function of Certificates of Deposit
- Utilization of T-Bills
- Characteristics of Commercial Paper
- Trade Paper and Bank Acceptances (BAs)
- Established market norms and operational practices
- Identifying key market participants
Categorization of Stock Exchange Investors
- General Investors
- Professional Fund Managers
- Hedge Fund entities
- Direct Stock Exchange participants
- Roles of Investment Banks, Stockbrokers, and Prime Brokers
- Internal market dynamics: the buyer and seller sides of the industry
The Operational Role of the Stock Exchange
- Identification of trading venues for various products
- Significance of the OTC market segment
- Historical development trajectories of Stock Exchanges
- Major Stock Exchanges in the current global landscape
- Architectural differences in US, European, and Asian Markets
- Global distribution of asset classes across different Stock Exchanges
- Distinction between 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 acquisition
- Strategies and methods for raising capital
- 'Floating' a company: an overview of distinct methodologies
Clearing and Settlement Processes
- Settlement mechanics and associated settlement risks
- Comparative analysis of Settlement Conventions in major markets
- Settlement protocols for Equities, Bonds, and Derivatives
- The workflow of Derivatives Clearing
- The function of the Central Counterparty (CCP)
- Services provided by CCPs to Stock Exchanges
- Margin requirements and management
- The security trade settlement lifecycle
- Pre-settlement procedures
- Final settlement execution
- Mitigating potential issues: unmatched trades, settlement delays, and failed deliveries
- Enforcing Stock Exchange Settlement Discipline
- The 'life cycle of a trade': tracing the process from execution to settlement
- The role of International (ICSDs) and Central Securities Depositories (CSDs) – including LCH.Clearnet, Euroclear, Crest, Clearstream International, and the DTC
Custody Services
- The strategic role of Custodians within Stock markets
- Settlement execution and asset safe-keeping
- Income collection and processing of Corporate Actions
- Cash flow management and funding transaction handling
- Supplementary custody services
- Accounting and reporting functions
- Stock Lending and collateral management
- Trustee services provision
- Generation of valuation reports
Alternative Investment Strategies
- Definition and scope of Alternative Investments
- Structured products: analyzing risks and return profiles
- Hedge funds: risk assessment and control mechanisms
- Venture Capital: valuation challenges, risk management, and controls
- Private Equity and Angel Finance
- Application of derivatives in Asset Management
- Comparative analysis: OTC vs. Exchange-Traded Derivatives (ETD)
- Types of Derivatives employed in Asset Management
- Futures instruments
- Options instruments
- Risk and control frameworks for derivatives, covering documentation, valuation, and reporting
Managing Quoted Equity Investments
- Risk factors in acquiring securities
- Risk factors in managing a securities portfolio
- Risks arising from corporate actions
- Methodologies for pricing quoted equity investments
- Identification of major risk sources
- General control frameworks within equity investment
- Risks specific to international equity markets
Managing Quoted Fixed Income Investments
- Risks associated with acquiring and disposing of fixed income securities
- Utilization of credit ratings and related risk considerations
- Risks inherent in fixed income security pricing
- Risk and control measures in corporate fixed income processing
- Risks specific to Government Securities
- Sovereign risk rating analysis
- Valuation techniques for government securities
- Risk and control measures in sovereign bond processing
Market and Credit Risks in Global Investment
- Identification of Market risks
- Calculations involving Value at Risk (VaR)
- Techniques for Market risk modelling
- Analysis of Credit Risks
- Metric frameworks for Measuring Credit risks
- Aggregation of Global Market Risks
- Specific Money Market Risks
- OTC market risk exposures
- Risk exposures within Exchange markets
14 Hours
Testimonials (1)
The lecturer is very knowledgeable and can substantiate theories with his own personal experiences.
