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Course Outline
Global Capital Markets
- Defining the financial marketplace
- The historical evolution of modern global financial markets
- The influence and role of financial media
- Anatomy of major capital markets:
- Key players: Exchanges, Clearing houses, and Regulators
- The recent surge in global investment activity
- Distinguishing between different types of Stock Exchanges
- Positioning Stock Exchanges within the contemporary market landscape
- Comparative overview of US, European, Middle Eastern, and Asian Stock Exchanges
Regulation of Financial Markets
- Capital Adequacy Requirements
- Basel I Framework
- Basel II Framework
- Basel III: Key provisions and implications
- Regulatory drivers for New Product Development
Asset Classes and Their Respective Markets
- Overview of instruments currently traded on Stock Exchanges
- Equities: Common shares and Preferred shares
- Bonds: Corporate and Government issues
- Bond structures: Fixed, Floating, and Zero coupon rates, plus the Yield Curve
- Instruments in the Money Market
- Overview of Currency markets
- Investor motivations: Drivers for buying and selling
- Distinction between Income generation and Capital Gain
- Interdependencies among various asset classes
- Interaction between Exchange-traded and Over-The-Counter markets
Short-Term Money Market Instruments
- Certificates of Deposit
- Treasury Bills (T Bills)
- Commercial Paper
- Trade Paper and Bankers' Acceptances (BAs)
- Standard market norms and practices
- Identifying key Market participants
Categories of Stock Exchange Investors
- General Investors
- Fund Managers
- Hedge Funds
- Direct Stock Exchange participants
- Investment Banks, Stockbrokers, Hedge Funds, and Prime Brokers
- Intra-market dynamics: The buy side versus the sell side
The Function and Role of the Stock Exchange
- Venues for trading these products
- The significance of the Over-The-Counter (OTC) market
- Historical development and progression of Stock Exchanges
- Leading Stock Exchanges in the current market environment
- Architectural differences across US, European, and Asian Markets
- Asset classes listed on Stock Exchanges globally
- Distinguishing between major Primary and Secondary markets
- Major exchanges: New York, Euronext, London, Shanghai, and Hong Kong
- The appeal of 'listed' companies to investors
- Leveraging Stock Exchanges for liquidity pooling and capital raising
- Various Methods of Capital Raising
- Company 'Floats': Distinguishing between different methods
Clearing and Settlement Processes
- Understanding Settlement and associated settlement risks
- Comparative Settlement Conventions across major markets
- Application to Equities, Bonds, and derivatives
- The workflow for Derivatives Clearing
- The role of the Central Counterparty (CCP)
- CCP services offered to Stock Exchanges
- Margin requirements and mechanics
- The security trade settlement cycle
- Pre-settlement procedures
- Final Settlement
- Managing potential issues: unmatched trades, delayed settlement, and delivery failures
- Enforcement of Stock Exchange Settlement Discipline
- The 'life cycle of a trade': Tracing 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 Services
- The role of Custodians in Stock markets
- Settlement logistics and safe keeping
- Income collection and processing Corporate Actions
- Cash management and funding transactions
- Provision of Additional services
- Accounting requirements
- Stock Lending and collateral management
- Trustee services
- Valuation reporting
Alternative Investments
- Defining Alternative Investments
- Structured products: Analyzing Risks and returns
- Hedge funds: Managing Risks and Control
- Venture Capital: Valuation issues, Risk, and Control
- Private Equity and Angel Finance
- Application of derivatives in Asset Management
- Comparing OTC vs ETD (Exchange Traded Derivatives)
- Types of Derivatives utilized in Asset Management
- Futures contracts
- Options contracts
- Risks and controls for derivatives, covering documentation, valuation, and reporting
Managing Quoted Equity Investments
- Risks involved in acquiring securities
- Risks associated with managing securities
- Risks stemming from corporate actions
- Pricing mechanisms for quoted equity investments
- Identifying Major sources of risk
- Implementing General controls within equity investment
- Risks specific to international equity markets
Managing Quoted Fixed Income Investments
- Risks in acquiring and disposing of fixed income securities
- Utilizing ratings and associated risk considerations
- Risks linked to pricing fixed income securities
- Risk and control frameworks within corporate fixed income processing
- Risks associated with Government Securities
- Understanding Sovereign risk ratings
- Valuation methods for government securities
- Risk and control protocols within sovereign bond processing
Market and Credit Risks in Global Investment
- Defining Market risks
- Calculating Value at Risk (VAR)
- Approaches to Market risk modelling
- Understanding Credit Risks
- Methodologies for Measuring Credit risks
- Assessing Global Market Risks
- Specific Money Market Risks
- Risks inherent in OTC trading
- Risks associated with Exchange trading
14 Hours
Testimonials (1)
The lecturer is very knowledgeable and can substantiate theories with his own personal experiences.
