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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
Swaps Processing and Operations
Available Dates:
November 20, 2018, New York
Course Code: 817
Duration: 1 day
Level: Basic
Fee: $795.00
CPE Credits: 6
Prerequisite: No Prerequisite Required

This one-day course provides an introduction to the basic forms of swaps and the associated processing life cycles for both cleared and uncleared contracts. Participants will explore basic product characteristics of Interest Rate, Credit Default, Commodity, Currency and Equity Swaps. Motivations for market participants, including Swap Dealers, Banks, Asset Managers, both financial and non-financial will be examined.

Using this basic product information, the program attendees will examine functional building blocks of middle and back-office operations support of the life cycle of a swap, from the inception of a deal through clearance and settlement. The functionality of Swap Execution Facilities (SEF's), Swap Data Repositories (SDR's), and CCP (Central Counterparty) Clearing Organizations, and Affirmation Platforms will be reviewed. Areas of risk and exposure associated with processing cleared and uncleared swaps will be addressed throughout the program, along with counter-party risk and collateral management.

Topics covered include:

  • Basic characteristics of Interest Rate, Credit Default, Commodity, Currency and Equity Swaps
  • Role of each participant: Swap Dealers, Banks, Asset Managers
  • OTC trade execution and the role of SEF's
  • How deals originate and contract details needed for trade capture and reporting
  • Collateral management
  • Margin requirements for cleared and uncleared swaps
  • How swaps are confirmed
  • What are the main ISDA agreements and documentation
  • The global Financial Industry's evolving infrastructure of trading, reporting, confirmation, clearance and settlement
  • Deployment of 3rd party technology solutions for middle and back-office functions
  • What is the novation of a swap
  • Portfolio Compression
  • Portfolio Reconciliation

After completing this seminar, participants should:

  • Understand the basic characteristics of interest rate, credit default, commodity and currency and equity swaps
  • Investigate the impact of regulatory mandates (e.g. Dodd-Frank and EMIR) on the use of SEF's, SDR's and CCP's
  • Analyze the functional building blocks of swap deals from execution through confirmation and settlement
  • Consider the role of collateral management in mitigating counter-party credit risk
  • Explain why novations are used and how they are processed
  • Explore the necessity of portfolio reconciliation and portfolio compression