1 690€

Net de taxes

Niveau Fondamentaux

Durée 20 heures

Format FormaFlex®

Réf 1795

Prix sur demande

Niveau Fondamentaux

Durée 20 heures

Format FormaFlex®

Le FormaFlex® n'est pas disponible en INTRA.

Réf 1795

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Acculturation

FormaFlex® – Introduction to financial markets

This training provides a comprehensive introduction to the mechanisms of financial markets, covering the key players, the main products, and how the markets operate. It is ideal for those who are new to the field or who wish to gain a better understanding of how financial markets function.

1 690€

Net de taxes

Niveau Fondamentaux

Durée 20 heures

Format FormaFlex®

Réf 1795

Prix sur demande

Niveau Fondamentaux

Durée 20 heures

Format FormaFlex®

Le FormaFlex® n'est pas disponible en INTRA.

Réf 1795

Objectifs

Programme

Pour qui ?

Objectifs

Understand the role and the different activities of financial markets
Gain an overview of the professions, organisation, and key participants in financial markets
Identify the products traded on financial markets and the associated risks

Programme

Virtual Class 1 — Financial Market Participants & Trading Floor Roles

Financial market participants
• Regulators
• Market infrastructures
• Custodian / Depositary
Case study — Alteneo
• Match each participant with its role
• Examples:
.. Euroclear — Central Securities Depository (CSD)
.. LCH — Clearing House
Role of investors and intermediaries
• Retail investors
• Asset managers
• Brokers
• Role of asset management
• Definition of an investment fund
Trading floor roles
• Sales
• Traders
• Structurers
• Research
• Analysts
• Middle office
• Back office
Client onboarding process
• KYC (Know Your Customer)
• Risk assessment
• Master agreements
Trading strategies
• Proprietary trading
• Arbitrage
• Market-making
Learning activities
• Open exercise: FX spot transaction — Alteneo
.. Identify involved roles and functions
• Trading roles quiz
• Fill-in-the-blank exercise on front-office roles
• Job description matching exercise
• Group debrief and consolidation

Digital Intersession 1 — Origins of Financial Markets, Issuers & Market Segments

Sequence 1 — Origins of financial markets and the role of banks
• Videos
.. Video 1 — Origins of financial markets
.. Video 2 — Direct lending vs banking intermediation
.. Video 3 — Originate-to-distribute model and cost of risk
• Quiz / Activity
.. Activity 1 — Equity vs debt financing
Sequence 2 — Issuer typology and financial instruments
• Videos
.. Video 4 — Issuers: Governments, municipalities, corporates
.. Video 5 — Hybrid securities (convertibles, subordinated debt)
.. Video 6 — Size of equity and bond markets
.. Video 7 — Sovereign debt and municipal bonds
• Quiz / Activity
.. Activity 2 — Financial market segments
Sequence 3 — Market segments, derivatives, organized vs OTC markets
• Videos — Markets & Segments
.. Video 8 — Four segments: Forex / Equities / Fixed Income / Commodities
.. Video 9 — Origins of the FX market
.. Video 10 — FX speculation and deregulation
.. Video 11 — FX speculation case studies
.. Video 12 — Commodity price volatility and hedging
• Videos — Derivatives & Hedging
.. Video 13 — Forward contracts / Futures
.. Video 14 — Hedging vs speculation
.. Video 15 — Options: right but not obligation
.. Video 16 — Speculative use of options
• Videos — Market Infrastructure
.. Video 17 — Organized exchanges
.. Video 18 — OTC markets
.. Video 19 — Transparency vs flexibility
.. Video 20 — Role of clearing houses
.. Video 21 — Systemic risk
• Videos — Sustainable Finance
.. Video 22 — Green Bonds
.. Video 23 — Greenfin Label
• Quiz / Activity
.. Activity 3 — Green Bonds & Greenfin quiz
Virtual Class 2 — Financial Products & Derivatives
• Types of financial market products
.. Cash (spot) products
.. Derivatives
.. Structured products
• Key distinctions
.. Spot vs forward products
.. Firm (linear) vs conditional derivatives
• Listed product examples
.. Equities
.. Futures
.. Options
.. Warrants
• Case study — Alteneo
.. Pros and cons of:
.. .. Equity financing
.. .. Bond financing
• Market exercise
.. Distinction:
.. .. Organized markets
.. .. OTC markets
• Firm (linear) derivatives
.. Definition of a linear derivative
.. Forward price calculation
.. Pricing formula (equities & bonds)
.. Advantages and drawbacks
.. Differences between:
.. .. CFDs
.. .. FRAs
.. .. Futures

Digital Intersession 2 — Options Markets, Hedging & Payoffs

Sequence 1 — Origins and development of options markets
• Videos
.. Video 1 — History of options (Thales, Tulip Mania, European merchants)
.. Video 2 — CBOE, Black-Scholes-Merton model, global expansion
.. Video 3 — Definitions: call, put, strike, maturity, premium, underlying
Sequence 2 — Risk hedging
• Videos
.. Video 4 — Alteneo case: FX risk hedging with a USD call
.. Video 5 — Forward vs option: obligation vs flexibility
Sequence 3 — Options and equity portfolios
• Videos
.. Video 6 — Portfolio protection: buying puts (Renault case)
.. Video 7 — Directional speculation: buying calls/puts (Danone case)
• Quiz / Activity
• Quiz 1 — Call/put buying strategies (Activity 1 W2)
Sequence 4 — Profit & loss profiles (Payoffs)
• Videos
.. Video 8 — Long call payoff
.. Video 9 — Long put payoff
.. Video 10 — Short call payoff (unlimited risk)
.. Video 11 — Short put payoff (high but limited risk)
Sequence 5 — Option premium determinants
• Videos
.. Video 12 — Impact of underlying price on premium
.. Video 13 — Time value and maturity
.. Video 14 — Volatility impact on premium
• Quiz / Activity
.. Quiz 2 — Premium determinants (Activity 2 W2)
Sequence 6 — Exotic options
• Videos
.. Video 15 — Asian options (average-price options)
.. Video 16 — Barrier options (knock-in / knock-out)

Virtual Class 3 — Money Market & Bond Market

Money market — Cash & derivatives
.. Definition of interest rate markets
.. Yield curve
.. Money market:
.. .. Interbank market
.. .. Negotiable Debt Securities (CP / TCN)
.. Monetary benchmarks:
.. .. €STR (ESTER)
.. .. EURIBOR
.. .. SONIA
.. .. SOFR
Short-term rate derivatives
.. Forwards / Futures
.. FRAs
.. Euribor 3M futures
.. OIS
.. Repos
Learning activity
Research on the ECB website
Open-ended questions
Group debrief
Bond market & interest rate derivatives
.. Bond characteristics
.. Yield curves
.. Credit spreads
.. Credit ratings
.. Bond sensitivity (duration & convexity)
.. Portfolio management
Interest rate risk hedging
.. Interest Rate Swaps (IRS)
.. Interest rate options
Case study
.. Floating-rate corporate borrower
.. Swap hedging implementation
Conditional interest rate derivatives
.. Swap terminology
Learning activity
.. Research on the Government Bond website
.. Credit rating quiz
.. Long-term rate derivatives quiz

Digital Intersession 3 — Bond Markets, Risks, CDS & Rate Derivatives

Sequence 1 — Introduction to bond markets
• Videos
.. Video 1 — What is a bond?
.. Video 2 — Convertible bonds
.. Video 3 — Floating Rate Notes (FRNs)
.. Video 4 — Inflation-linked bonds
.. Video 5 — Securitized bonds
• Quiz / Activity
.. Quiz 1 — Bond fundamentals
Sequence 2 — Bond risks
• Videos
.. Video 6 — Interest rate risk
.. Video 7 — Maturity & duration sensitivity
.. Video 8 — Bond market making
.. Video 9 — Credit risk (default)
.. Video 10 — Role of rating agencies
.. Video 11 — Credit spreads
.. Video 12 — Spread movements (macro & liquidity factors)
• Quiz / Activity
.. Activity 2 — Rating agencies quiz
Sequence 3 — Default, Credit Events & CDS
• Videos
.. Video 13 — Bond default
.. Video 14 — Credit event trigger
.. Video 15 — CDS: default insurance
.. Video 16 — CDS: role, history & financial crises
Sequence 4 — Long-term rate derivatives (Swaps, Caps, Floors)
• Videos
.. Video 17 — Interest Rate Swaps (fixed ↔ floating)
.. Video 18 — Swap variants (basis swaps, amortizing swaps)
.. Video 19 — Caps and Floors
.. Video 20 — Collar strategies (Cap + Floor)
.. Video 21 — Swap vs Cap comparison
• Quiz / Activity
.. Activity 3 — Swaps / Caps / Floors / Collars quiz

Virtual Class 4 — Equity Markets & Equity Derivatives

• Equity markets
.. Organized exchange mechanics
.. Order book
.. Price formation
.. Trading session structure (NYSE-Euronext):
.. .. Pre-opening
.. .. Opening auction
.. .. Continuous trading
.. .. Pre-close
.. .. Trading at last
• Order types
.. Limit orders
.. Market orders
.. Best-limit orders
.. Stop / stop-limit orders
.. Iceberg / hidden orders
• Equity sensitivity metrics
.. Alpha
.. Beta
• Order book workshop
.. Live order book analysis (Boursorama)
.. Stock order routing exercise
.. Market participants sequencing
.. Alteneo case:
.. .. Impact of selling 600 shares
.. .. Market vs limit order comparison
• Equity derivatives
.. Equity indices
.. Index futures
.. Index options
.. Warrants
• Learning activities
.. True / False quiz — Options vs Warrants
.. CFD product case study
.. Identifying the four revenue points for banks

Digital Intersession 4 — Learning Assessment & Validation

Pour qui ?

New hires in support functions: Back Office, Middle Office, Product Control, Operations, Accounting, IT
Auditors, Inspectors, Internal Controllers
Legal professionals
Staff from functions that support financial markets activities (HR, Communications, Procurement, etc.)
Anyone requiring a general understanding of financial markets

Pédagogie – Évaluation

An initial overall assessment is conducted prior to the training to gauge participants' expectations and levels.
The training methodology relies on a wide variety of learning situations: practical cases, discussions, case studies, exercises, and small-group work.
Each competency is assessed through formative evaluations (practical cases, exercises) throughout the programme.
A summative assessment in the form of a multiple-choice questionnaire is conducted at the end of the programme to measure learning outcomes.

Pré-requis

Bachelor's degree (or equivalent) or 3 years of experience in banking and finance

Qualité & Certification

Adapté aux personnes en situation de handicap

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FormaFlex® – Introduction to financial markets

Objectifs

Programme

Pour qui ?

Pédagogie – Évaluation

Pré-requis

Qualité & Certification

Adapté aux personnes en situation de handicap

Besoin d'être recontacté(e) ?

Vous souhaitez un devis personnalisé ?

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