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Course List
Introduction to the Securities Industry
Introduction to the Securities Industry
Introduction to U.S. Securities Processing
Securities Lending and Borrowing : An Operations Perspective
Foundations of Investment Management and Buyside Operations
Dealing with Change in the Financial Markets
Collateral Management: An Operations Perspective
International Issues
International Securities Operations
International Portfolio Accounting
Foreign Currency: Markets, Clearance, Settlement & Accounting
Foreign Exchange: Lifecycle of a Trade
Corporate Actions
U.S. Domestic Corporate Actions
Global Corporate Actions
Capital Markets
Capital Markets Overview
Capital Market Economics - Investigating the Linkages Between the Real Economy and the Financial Markets
Portfolio Management
Portfolio Management
Securities Analysis
Managing Risk
Risk in a Global Market - Management and Operational Challenges Looking Forward
Financial Management
Financial Accounting and Financial Mathematics
Financial Statement Analysis
Fixed Income Securities
Bond Math: Mathematics of the Fixed Income Market
Structured Securities: MBS, ABS, CDOs
Introduction to Fixed Income Products
Accounting for Fixed Income Securities and Derivatives
Mortgage-Backed Securities
Collateralized Debt Obligations and Credit Default Swaps (CDOs and CDS)
Fixed Income Analytics
Interest Rate Swaps and Credit Default Swaps
Fixed Income Securities Trade Processing and Operations
Accounting, Regulatory & Management
Stock Brokerage Accounting & Securities Regulations
Introduction to Private Equity Markets
Trading After the Volcker Rule
Dodd-Frank for Non-US Derivatives Users
Complying with the MiFID II/MAR Rules
Introduction to Derivative Products
Derivatives: Markets, Operations, Accounting & Control
Derivative Products: Risk Management and Valuation
Option Valuation and Trading
Equity Derivatives: Futures and Swaps
Interest Rate Futures and Swaps
Introduction to Options: Products, Trading & Processing
Swaps Processing and Operations
Commodity Futures: Energy, Metals and Agricultural
Equity Options: Strategies, Accounting and Operations
Mutual Funds
Introduction to Mutual Funds
Mutual Fund Operations

Course Description
Introduction to Derivative Products
Available Dates:
October 3, 2018, New York
November 15, 2018, New York
Course Code: 800
Duration: 1 day
Level: Basic
Fee: $795.00
Instructor: Douglas Carroll
CPE Credits: 6
Prerequisite: No Prerequisite Required

This one-day seminar provides a broad overview of all major types of derivative instruments: futures/forwards, options and swaps. Presentation will highlight the key characteristics and features as well as the risks, basic pricing concepts and trading applications for each type of derivative contract.

The program begins with an introduction to the basic features characteristic of all derivative contracts versus other types of financial instruments (securities or currencies) and the impact on trading applications and financial markets. This will be followed up with a detailed look at each major type of derivative in turn. For each type, the discussion will cover terms and definitions, contract features, rights/obligations of parties to the contract (long and short positions), risk exposure (gain/loss) profiles for long and short positions, trading and risk management applications.

The seminar would be useful for anyone whose duties entail some exposure to derivatives related business and would be especially helpful to those working in areas supporting derivatives trading or sales as well as middle and back office areas such as clearance and settlement, compliance, financial control, information technology, portfolio administration or marketing.

Topics for Discussion Include:

Introduction to Derivative Instruments

  • Derivative terminology and definitions
  • General characteristics of derivatives
  • Derivatives compared to securities
  • Risk management applications

Futures and Forward Contracts

  • Terminology and definitions
  • Exchange traded (listed) versus over-the-counter (OTC) contracts
  • Types of contracts (equity, currency, energy, etc.)
  • Forward pricing basics
  • Trading and risk management applications


  • Terminology and definitions
  • Option contract characteristics
  • Buying calls and puts
  • Writing (selling) calls and puts
  • Combination trading strategies
  • Option pricing basics


  • Terminology and definitions
  • Swap contract characteristics
  • Interest rate swap contract cash flows and risks
  • Other types of swaps- equity, currency, commodity and credit/default
  • Risk management applications

After completing this program, participants should be able to:

  • Identify the primary types of derivative contracts and explain their most salient characteristics
  • Describe the basic risk management applications of futures and forward contracts as well as how the unique characteristics of each affect the relative advantages in diverse risk management and trading strategies
  • Identify the characteristics of put and call options as well as the risk/reward trade-offs of long and short positions in either type of option
  • Describe the elements of an interest rate swap contract and how the settlement value is calculated on a standard fixed for floating interest rate swap
  • Explain the potential advantages and disadvantages of using derivatives versus creating similar exposures through trading in the underlying security or commodity