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How The Financial Markets Work
  • Overview
  • Objectives & Outline
  • Methodology
  • Participant Profile
  • Trainer
  • Overview
    PROGRAMME DETAILS

    DATE

    17 June 2021

    TIME

    9:00 AM – 5:00 PM

    VENUE

    Asian Banking School

    This one-day programme gives a comprehensive coverage of the major financial markets – how they work, what are traded there.

    Emphasis is given to Bond Market, Money Market and Foreign Exchange Market.

    The detail discussions are meant to pave the way for the participants to apply the knowledge onto world events.

    Once the participants gained a good appreciation of these markets – how they function and how are they inter-linked – this programme provides an array of case studies to demonstrate how these markets come into confluence, coalesce, and impact each other.

    LEARNING LEVEL

    Intermediate

    PROGRAMME FEE

    AICB MEMBER

    MYR

    1,200*

    / PAX

    NON-MEMBER

    MYR

    1,500*

    / PAX

    *Subject to 6% Service Tax

  • Objectives & Outline
    LEARNING OBJECTIVES
    By the end of this programme, participants will be able to:

    • Differentiate the different financial markets and how each one serves different aspects of the economy
    • Understand the workings of the bond market, and how it influences the economy
    • Comprehend the inverse relationship between interest rate and bond price
    • Grasp the different types of yield
    • Comprehend how foreign exchange rates are determined
    • Comprehend the major factors that influence the foreign exchange market
    • Understand the workings of the futures market. Its application for hedging and speculation
    • Have a good appreciation of how the financial markets react and impact each other in the major world events. These are provided in case studies.

    PROGRAMME OUTLINE

    THE DEFINITION OF FINANCIAL MARKETS

    Types of Financial Market – In preparation for the discussions on how they coalesce, and impact each other in real world events:

    • Capital Market – what are traded there
    • Commodities Market
    • Money Market – the characteristics, and the products traded there
    • Derivatives Market – with emphasis on Options and Futures
    • Foreign Exchange Market
    • Interbank Market

    A discussion on:
    • The difference between primary and secondary market
    • Spot and forward market
    • What is Over-the-Counter Market – what are typically transacted there

    THE BOND MARKET

    The Definition
    • What qualifies to be called a Bond?
    • Why it is also called fixed income?
    • Why does the market need Bonds, on top of bank loans?

    The influence of the bond market
    • The inverse relationship between interest rate and bond price, and how that influences the economy
    • Why the bond market matters so much? – its size vs equity; its relationship vs interest rates; its influence over government policies

    The key features of Bonds
    • How does each feature affect the nature of a Bonds

    Some Key Types of Bonds
    • How does each one work?

    The Different Types of Yield
    • What does each one measure? How is each one calculated?
    • Using examples in the computation of yield
    • What is an inverted yield curve, why is the market worried about it?

    THE FOREIGN EXCHANGE MARKET

    An overview, definition, and the participants in the FOREX market.

    The background on how the world arrives at the current floating rates regime
    • From the Gold Standard, to the Bretton Woods System, to Plaza and Louvre Accords, to BREXIT.

    How the Exchange Rate is determined in the short run.

    How the Exchange Rate is determines in the long run.

    Factors that influence the foreign exchange market – going through the list of how each one impacts the exchange rates. Specifically:
    • The relationship between the Balance of Payments and the Exchange Rates.
    • How Monetary and Fiscal Policies affect the exchange rates.
    • How central banks fix the exchange rate and intervene in the forex markets.
    • The importance of Foreign Currency Reserves.
    • The role of Carry Trades – how they work and how they impact the emerging markets.
    • Quantitative Easing – how it comes about, and how it impacts the forex, bond and money markets.

    THE FUTURES MARKET

    Why is it needed, and how does it work?

    How is the futures used for hedging and speculation?

    Case Studies
    Applying the whole day’s discussions onto real world events to see how the different financial markets coalesce and impact each other:
    • How the cut in Overnight Policy Rate (OPR) affects the bond market
    • The Asian Financial Crisis – based on what the participants have learnt about the above-mentioned markets, to analyse how the Asian Financial Crisis brought about the confluence of all of the financial markets into action – the forex market, money market, stock market, bond market, commodities market, and derivatives market. A wrap up on how the capital and currency controls impacted each of these markets.
    • The Subprime Crisis – a study on the origin and causes of the Crisis. How the USD interbank market dried up, how the Quantitative Easing was implemented, how it impacted the bond market, the money market and foreign exchange market. How the Crisis gave rise to Carry Trade activities, and how these impacted the foreign exchange and commodities market.
    • Sovereign Bankruptcy – Why it was said that “sovereign countries don’t go bankrupt”. How the bond market, foreign exchange market, money market and stock market are impacted when a sovereign country goes bankrupt.
    • How the bond market can frustrate a president’s re-election plans – a study on budget deficit, bond market reactions, impact on the money market, and how bond price and interest rate interact. How these would impact economic growth.
    • How BREXIT affected different bond markets

    Group Discussions
    • How and why the Implosion of the Subprime Crisis actually strengthened the USD
    • How the South Koreans Played the won-dollar carry trade game
    • No right time for strong ringgit?
    • Does a cheap currency always boost growth? A study on 44 countries

  • Methodology

    Online lecture, including PowerPoints/slides presentations, lecture, case studies & group discussions.

    Technical Requirements:

    • Desktop, notebook or tablet with camera, speaker and microphone
    • Internet access
    • Conference platform: Zoom

  • Participant Profile

    This course is applicable to bank treasury officers, business units’ relationship managers and credit analysts whose clients are business enterprises facing the vicissitudes of the financial markets.

  • Trainer

    Yeow Tiang Hui

    Yeow Tiang Hui graduated in Economics from the National University of Singapore where he studied International Finance, Banking & Monetary Economics. He obtained his further training in banking and finance from the Institute of Banking & Finance in Singapore, Deutsche Bank Asia Pacific, and Citibank Asia Pacific Banking Institute, where he studied Credit & Financial Analysis, Applied Financial Services, International Trade Finance, Corporate Finance, and Financial Derivative Products.

    He has 33 years of experience in banking and investment, having first worked with the small and medium enterprise clients in United Overseas Bank and Citibank N.A. , Singapore. Thenceforth, he moved on to manage the multinational accounts in Deutsche Bank AG, then the large local corporate clients in Citibank/Citicorp Malaysia, where he was also the Vice President in the venture capital outfit, and the Head of Commercial Banking.

    From 1997 to 2005, he served as head of the offshore banking business of the French banking group Crédit Industriel et Commercial. The coverage was Malaysia, the Greater China and the Philippines.

    From 2007 till 2016, he has served as the Head of Corporate Banking Kuwait Finance House. And in 2012, he set up the client coverage team, housed under the Investment Banking Division.

    His last position was the Chief Executive Officer of Alkhair International Islamic Bank Bhd.

    He is fluent in (written and spoken) Chinese, English, Malay and the Indonesian languages. Having worked in Singapore, American, German, French, Middle Eastern and Malaysian environments.


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