Mechanics of Derivatives & Structured Products - Treasury & Capital Market

It covers the uses of derivatives, including interest rate swaps, currency swaps and credit derivatives. Participants also gain understanding to various aspects of structured products including how these products are created, the motivations for investing and issuing them and their risk-return
profiles.

Programme Outline

Learning Objectives

By the end of the programme, participants will be able to:

Analyse the risk, returns and mechanics of derivative instruments
Describe derivative strategies for either hedging or speculation
Explain how structured products generate unique payoffs and deconstruct structured products into individual components
Evaluate the key factors to consider before investing in derivatives and structured products

Programme Outline

Forwards
Concept - Pricing forward contracts
FRA – structure and purpose
Valuation and pricing
Currency forwards – structure and purpose
Swaps
Mechanics of Interest Rate Swap (IRS)
FRA and IRS
What is embedded in swap rates / pricing
IRS – Pricing of Fixed Leg
Mechanics of Currency Swaps
Pricing and valuation of Currency Swaps
Mechanics of Credit Default Swaps
Application of CDS
Option Strategies
Option payoff diagram
Covered call – structure and purpose
Protective put – structure and purpose
Bull and Bear Spreads – structure using calls / puts
Collars
Straddle and strangle
Calendar spreads
Option Valuation and Greeks
Binomial model
Black Scholes Merton model
Interpreting Delta
Other Greeks – Gamma, Vega, Theta, Rho
Deconstructing Structured Products
Review of sample term sheets
Quanto options
Autocall reverse convertible worst of barrier
Lookback options

METHODOLOGY

Lectures and case studies

Participant profile

Capital Markets Licensed Representatives / CPE Holders, Investment Bank & Capital Markets Professionals, Treasury & Corporate Finance Professionals, Private Bankers & Wealth Managers, Asset Managers & Fund Managers, Risk Management Professionals

Trainer

Chong Jin Yoong, CFA

Managing Director and Principal Trainer of Ogos Learning

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Chong Jin Yoong, CFA

Managing Director and Principal Trainer of Ogos Learning

Chong Jin Yoong, CFA is the Managing Director and Principal Trainer of Ogos Learning. Ogos Learning provides education and training solutions for the banking and financial services industry. Prior to forming Ogos Learning, he headed the structured products development team in AmBank’s Global Markets division. His team focuses on structuring solutions and products for both institutional, corporate and retail clients. Before joining AmBank, Mr. Chong was attached to the Treasury of OSK Investment Bank as a licensed fixed income dealer.

Jin Yoong is actively involved with the CFA Society of Malaysia and currently serves as the President of the society. He also contributes his time extensively with the Asian Institute of Chartered Bankers (AICB) both as an examiner and trainer for various programs (Chartered Banker, PKMC & IPPC). Jin Yoong has authored multiple textbooks in collaboration with AICB and Oxford Fajar. This includes textbooks for the IPPC and PKMC licensing exam. The PKMC license is compulsory for all interbank dealers in Malaysia. He obtained the PKMC certification with Distinction in 2008.

In partnership with TAR University of Management and Technology, Ogos Learning has been offering prep classes for CFA program candidates. Jin Yoong has been instrumental in building the training team behind this partnership since 2017.

Jin Yoong has conducted various SIDC accredited CPE courses across various topics such as derivatives, structured products and fixed income since 2010 to over two thousand ERPs and CMSRL license holders. He was on the panel of instructors for Securities Commission’s Islamic Capital Markets Graduate Training Scheme between 2017-2020. In addition, he has also given numerous talks and workshops on the topic of blockchain, cryptocurrencies and decentralized finance. Jin Yoong is a HRD Corp Accredited Trainer.