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Duration 14 hours
Course Outline
The Global Capital Markets
- Defining the concept of a ‘financial market place’
- The historical evolution that shaped today’s global financial landscape
- The influence and role of financial media
- An overview of major capital market structures:
- Exchanges, Clearinghouses, and Regulatory Bodies
- The recent surge in global investment activity
- Distinctions between various types of ‘Stock Exchanges’
- The position of Stock Exchanges within contemporary markets
- Comparing US, European, Middle Eastern, and Asian Stock Exchanges
Regulation of Financial Markets:
- Capital Adequacy Requirements
- Basel I Framework
- Basel II Framework
- Basel III and its strategic implications
- Driving new product development through regulatory insights
Asset Classes and Corresponding Markets
- Current instruments traded on Stock Exchanges
- Equities: Common and Preferred shares
- Bonds: Corporate and Government issues
- Bond varieties: Fixed, Floating, and Zero-coupon rates, plus the Yield Curve
- Money Market instruments
- The dynamics of currency markets
- Investor motivations for buying and selling
- Income generation versus Capital Gains
- Interdependencies among various asset classes
- The interplay between Exchange-traded and Over-The-Counter markets
Short Term Money Markets
- Certificates of deposit
- Treasury Bills (T Bills)
- Commercial paper
- Trade paper & Bills of Exchange (BAs)
- Standard market norms and practices
- Key market participants
Categories of Stock Exchange Investors
- Retail and Institutional Investors
- Fund managers
- Hedge funds
- Direct Stock Exchange participants
- Investment banks, Stockbrokers, Hedge Funds, and Prime Brokers
- Internal market dynamics – balancing the buy and sell sides of the industry
The Function of the Stock Exchange
- Identifying where specific products are traded
- The significance of the OTC market
- Historical progression of Stock Exchanges
- Leading Stock Exchanges in the current global environment
- Structural differences between US, European, and Asian Markets
- Asset classes exchanged on Stock Exchanges worldwide
- Key Primary and Secondary market distinctions
- Spotlight on New York, Euronext, London, Shanghai, and Hong Kong
- The appeal of ‘listed’ companies to investor bases
- Leveraging Stock Exchanges for liquidity pooling and capital raising
- Strategies for Capital Raising
- ‘Floating’ a company: Exploring various methodologies
Clearing & Settlement
- Understanding settlement processes and associated risks
- Varying Settlement Conventions across major markets
- Clearing for Equities, Bonds, and derivatives
- The workflow for Derivatives Clearing
- The function of the Central Counterparty (CCP)
- Services offered by CCPs to Stock Exchanges
- Margin requirements
- The security trade settlement lifecycle
- Pre-settlement procedures
- Final settlement execution
- Mitigating potential issues: unmatched trades, settlement delays, and delivery failures
- Enforcing Settlement Discipline on Stock Exchanges
- The ‘life cycle of a trade’ – tracing the connection 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 strategic role of Custodians in Stock markets
- Settlement oversight and safe-keeping responsibilities
- Handling Income collection and Corporate Actions
- Cash management and funding transaction execution
- Supplementary custodial services
- Accounting and reporting functions
- Stock Lending and collateral management
- Trustee services
- Generation of Valuation reports
Alternative Investments
- Defining the scope of Alternative Investments
- Structured products: Analyzing risks and return profiles
- Hedge funds: Risk management and control mechanisms
- Venture Capital: Valuation challenges, risks, and controls
- Private Equity/Angel Finance
- Integrating derivatives into Asset Management
- Comparing OTC vs ETD strategies
- Derivative instruments applied in Asset Management
- Futures
- Options
- Risk and control frameworks for derivatives, covering documentation, valuation, and reporting
Managing Quoted Equity Investments
- Risk factors in acquiring securities
- Risk factors in ongoing security management
- Handling risks linked to corporate actions
- Pricing methodologies for quoted equity investments
- Identifying major sources of risk
- Implementing general controls within equity investment portfolios
- Navigating risks in international equity markets
Managing Quoted Fixed Income Investments
- Risks involved in acquiring and disposing of fixed income securities
- Utilizing credit ratings and addressing associated risk issues
- Risks inherent in pricing fixed income securities
- Risk management and controls in corporate fixed income processing
- Risks specific to Government Securities
- Understanding Sovereign risk ratings
- Valuation techniques for government securities
- Risk and control protocols within sovereign bond processing
Market and Credit Risks in Global Market Investing
- Identifying Market risks
- Applying VAR calculations
- Techniques in Market risk modelling
- Assessing Credit Risks
- Metric approaches for measuring Credit risks
- Evaluating Global Market Risks
- Specific Money Market Risks
- OTC Risks
- Exchange-specific risks
Testimonials (1)
The lecturer is very knowledgeable and can substantiate theories with his own personal experiences.
