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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 Fixed Income Products
Available Dates:
October 2, 2018, New York
Course Code: 603
Duration: 1 day
Level: Basic
Fee: $795.00
Instructor: Douglas Carroll
CPE Credits: 6
Prerequisite: No Prerequisite Required.

This one-day seminar provides an extensive overview of all major types of fixed income securities. Presentation will highlight: key characteristics and features by security type; relative risks and sources of expected return for each; organization of primary and secondary markets.

The program begins with a discussion of fixed income fundamentals, the elements and concepts common to most types of fixed income instruments. Subsequently the program turns to a detailed investigation of each major segment of the fixed income markets and the variety of securities traded. The presentation will cover governments, agencies, corporates, municipals and asset backed (including mortgage backed) securities.

This seminar would be useful for anyone whose duties entail contact with fixed income securities. This program would be especially helpful to those working in areas supporting fixed income trading, sales or investment management such as clearance and settlement, compliance, financial control, information technology or portfolio administration.

Topics for Discussion Include:

Bond Fundamentals

  •  Fixed Income Terms and Definitions
  •  Characteristics of Fixed Income Securities
  •  Risks
    • Default 
    • Interest Rate
    • Inflation 
    • Liquidity
  •  Return
    • Capital Gains and Losses
    • Interest and Reinvestment Income

Bond Math Basics

  •  Interest Rates, Yields and Rates of Return
  •  Fixed Income Pricing Conventions
  •  Conventional Yield Measures
  •  Yield to Maturity Reconsidered
  •  Yield Curves

Types of Fixed Income Securities

  •  Government Securities
    • Treasury Bills 
    • Notes 
    • Bonds 
    • TIPS 
    • Strips
  •  Money Market Instruments
  •  Agency Securities
  •  Mortgage Backed Securities
    • Pass Throughs 
    • CMOs
  • Other Types of Asset Backed Securities: Credit Card, Auto Loan, etc.
  • Municipal Securities - General Obligation and Revenue Bonds
  • Corporate Bonds and Preferred Stocks
  • High Yield Securities

After completing this program participants should be able to:

  • Recognize and explain the fundamental features of fixed income securities as well as the related terminology and basic market structures

  • Identify and define the types of risk and sources of return to fixed income investors
  • Distinguish between and among the primary types of fixed income securities across the sectors of the fixed income market
  • Identify and describe the features and investment characteristics of US treasury securities: t-bills, t-notes and t-bonds
  • Explain corporate bond contract features including: trust indentures, call and put provisions, sinking funds, senior versus subordinated debt, secured versus unsecured bonds and conversion options
  • Describe the main elements of asset securitization, the elemental features of structured securities and the primary characteristics of mortgage backed securities (MBS), asset backed securities (ABS) and collateralized debt obligations (CDOs)