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Course Outline
Global Capital Markets
- Defining the 'financial marketplace'
- The historical evolution of the modern global financial system
- The influence of financial media
- Structural elements of major capital markets:
- Exchanges, clearinghouses, and regulatory bodies
- The recent surge in global investment flows
- Variations in 'Stock Exchange' typologies
- The positioning of Stock Exchanges in contemporary markets
- Comparative analysis of US, European, Middle Eastern, and Asian exchanges
Regulatory Frameworks for Financial Markets:
- Capital adequacy standards
- Basel I agreement
- Basel II agreement
- Basel III framework and its operational implications
- Frameworks for new product development
Asset Class Variations and Market Dynamics
- Current trading instruments on Stock Exchanges
- Equity instruments: Common and Preferred shares
- Debt instruments: Corporate and Government bonds
- Bond structures: Fixed, floating, and zero-coupon rates, along with the Yield Curve
- Instruments within the Money Market
- Currency exchange mechanisms
- Investor motivations for buying and selling
- Balancing Income and Capital Gains
- Interdependencies among various asset classes
- Correlations between Exchange-traded and Over-The-Counter (OTC) markets
Short-Term Money Market Instruments
- Certificates of deposit
- Treasury Bills (T Bills)
- Commercial paper
- Trade paper and Bank Acceptances (BAs)
- Standard market practices and norms
- Identification of key market participants
Investor Profiles in Stock Exchanges
- Individual and institutional Investors
- Professional Fund managers
- Hedge funds
- Direct Stock Exchange participants
- Roles of Investment banks, Stockbrokers, Hedge Funds, and Prime Brokers
- Intra-market dynamics: Buy-side and Sell-side operations
The Functional Role of Stock Exchanges
- Platforms for product trading
- The significance of the OTC segment
- Historical trajectory of Stock Exchanges
- Leading exchanges in the current global landscape
- Architectural differences in US, European, and Asian markets
- Distribution of asset classes across global exchanges
- Key Primary and Secondary market hubs
- Major hubs: New York, Euronext, London, Shanghai, and Hong Kong
- The appeal of 'listed' entities to investors
- Leveraging exchanges for liquidity pooling and capital acquisition
- Strategies for capital raising
- Corporate 'Floating' (IPO) methodologies
Clearing and Settlement Processes
- Settlement mechanics and associated risks
- Diverse settlement conventions across major markets
- Processing of Equities, Bonds, and derivatives
- Derivatives clearing procedures
- The function of the Central Counterparty (CCP)
- CCP service provisions for Stock Exchanges
- Margin requirements
- Security trade settlement workflows
- Pre-settlement procedures
- Final settlement execution
- Risk mitigation for unmatched trades, delays, and failed deliveries
- Enforcing Settlement Discipline on Exchanges
- The 'life cycle of a trade': Linking execution to settlement
- The role of ICSDs and CSDs: LCH.Clearnet, Euroclear, Crest, Clearstream International, and the DTC
Custody Services
- The custodian's role in equity markets
- Safekeeping and settlement support
- Management of Income collection and Corporate Actions
- Cash management and funding operations
- Supplementary service offerings
- Accounting standards and reporting
- Stock Lending and collateral oversight
- Trustee functions
- Production of Valuation reports
Alternative Investment Strategies
- Definition and scope of Alternative Investments
- Structured products: Risk and return profiles
- Hedge funds: Risk management and controls
- Venture Capital: Valuation, risk, and control mechanisms
- Private Equity and Angel Finance
- Integration of derivatives in Asset Management
- OTC versus ETD (Exchange Traded Derivatives)
- Categorization of derivatives in portfolio management
- Futures contracts
- Options contracts
- Risk controls for derivatives: Documentation, valuation, and reporting
Managing Quoted Equity Portfolios
- Risks inherent in securities acquisition
- Risks in securities management
- Exposure to corporate action risks
- Valuation of quoted equity investments
- Identification of primary risk sources
- Standard controls for equity investments
- Risks specific to international equity markets
Managing Quoted Fixed Income Portfolios
- Risks in acquiring and disposing of fixed income securities
- Utilization of credit ratings and associated risk factors
- Pricing risks for fixed income instruments
- Risk management and controls in corporate bond processing
- Risks related to Government Securities
- Sovereign risk rating analysis
- Valuation methods for government securities
- Controls for sovereign bond processing
Market and Credit Risks in Global Investing
- Identification of Market risks
- Value-at-Risk (VAR) calculations
- Market risk modeling techniques
- Assessment of Credit Risks
- Methodologies for measuring Credit risks
- Exposure to Global Market Risks
- Money Market specific risks
- OTC market risk profiles
- Risks associated with Exchange trading
14 Hours
Testimonials (1)
The lecturer is very knowledgeable and can substantiate theories with his own personal experiences.
