Derivatives Professional Certificate Program

Course Description:

The objective of this course is to give financial professionals competitive advantage through a comprehensive, practical knowledge of the derivatives landscape.  Enroll in this program to understand the most important financial instruments, as well as strategies, processes, and regulations associated with each. Those in support roles will benefit most from the thorough coverage of processes and procedures of organizations in the derivatives space, while those in strategic roles will benefit from real world case studies and applications of various derivatives products. 

The Derivatives Program consists of five modules, which can be taken as a unit or individually:

Upon completion of the course, all participants may sit for a final exam to qualify for the New York Institute of Finance Professional Certificate in Derivatives.  Upon passing this exam, you will receive your certificate and be able to list it on your resume and LinkedIn profile.

And, as a special offer, if you register for this session in June, you'll receive a free subscription to The Financial Times online, worth $299!  Simply register for the course, and pick up your access information when arrive at the New York Institute of Finance on class day.

Take the Next Step In Your Career.

Click "Enroll Now" on the right to Reserve Your Seat or Call 1-888-641-6616
Course Instructors:

Our instructors are veterans of the finance industry who draw on their personal Derivatives experience to give professionals a competitive advantage on the job.  This course is taught by:


Target Audience

Asset Managers, Mutual Fund Managers, Pension Fund Managers, Hedge Fund Managers, Bank Portfolio Managers, Insurance Companies Investment Personnel, Equity Traders, Interest Rate Traders, Commodity Traders, Capital Markets Salespeople, Traders assistants, Middle Office, IT-programming, IT-trading support.

Learning Objectives

At the end of this course, professionals will be able to:

  • Classify futures contracts and identify contract specifications
  • Describe how a clearinghouse mitigates counterparty credit risk
  • Price Forwards & Futures Contracts
  • Design strategies for market participants using Futures, Forward, Swaps or Options
  • Price & Reprice Interest Rate Swaps using LIBOR & OIS Discounting
  • Define and apply the option risk management numbers ''The Greeks'' to changing option prices
  • Create pricing curves for Interest Rate and Cross Currency Swaps
  • Understand why cross currency basis swaps trade with a spread and identify key elements that will effect changes in these spreads

Course Syllabus


Day 1 - Futures and Forwards


Futures and Forwards

  • Define futures and forwards
  • What are the mechanics of futures
  • Examine the pricing of both contracts
  • What are the differences between the two contracts

Forward Rate Agreements

  • Define a FRA
  • How they are priced
  • Applications of FRA
  • Review the beginnings of the forward curve

Eurodollar Futures

  • Show applications of Eurodollar futures
  • What is the basis of a futures contract

Bond and Note Futures

  • Explain the settlement differences between these contracts and the Eurodollar future
  • What is meant by cheapest to deliver
  • Examine pricing

Stock Index Futures

  • Look at the settlement procedures
  • Evaluate the pricing of stock index futures
  • Show some applications
  • What is meant by program trading

Day 2 - Options Markets I


Options: Definitions and Terminology

  • Calls
  • Puts
  • Underlying security
  • Exercise price (strike price)
  • Expiration date

The Call Option

  • Buying Calls
  • Selling (writing) calls

The Put Option

  • Buying puts
  • Selling (writing) puts
  • Hedging with puts


Options Strategies

  • Bullish strategies
  • Bearish strategies

Options on Exchange Traded Funds (ETF's)

  • Small cap indexes

Options on indexes

  • Sector indexex

Options Pricing

  • Variables affecting an Options Value
  • The price of the underlying
  • Time to expiration
  • Exercise prices
  • Market psychology

Day 3 - Options Markets II


Trading Strategies

  • Reviewing the Building Blocks of Options: Puts and Calls
  • Spreads
  • Volatile Plays
  • How to increase yields
  • Portfolio strategies
  • Develop costless strategies to protect profits

Options Pricing

  • Introduction to probability
  • Option Valuation using the binomial model
  • Examine volatility and the different types of volatilities
  • Introduce normal distributions
  • Black Scholes Model

The Greeks

  • Delta Neutral
  • Software Application
  • The Greeks are defined and applied in options trading

Day 4 - Swaps I


Interest Rate Swaps

  • Definition of an interest swap
  • Plain vanilla swaps
  • Characteristics and features of interest rate swaps
  • Why enter into a swap?
  • Interest rate swap pricing

Risks Specific to Swaps

  • Identify the different risks associated with swaps

Other types of swaps

  • Other types of interest swaps
  • Asset and amoritizing swaps

Credit Exposure in Swaps

  • How exposure is measure counterparties
  • What type of limits are used to manage this risk

FAS 133

  • Explore the implications of 133 for swaps

Currency Swaps

  • Define a currency swaps
  • Terminology
  • Applications of currency
  • Pricing and valuation

Interest Rate options: Caps and Collars

  • Definition of interest rate
  • Pricing and application of floors and collars

Day 5 - Swaps II


Yield Curves and Swap Valuations

  • Yield curves
  • What is the par swap curve
  • How is the spot curve derived
  • Where does the forward curve fit into the pricing of swaps

Eurodollar Futures

  • The eurodollar strip

Duration and Convexity

  • Duration and its applications
  • Define convexity
  • Present Value of a basis point (DV01)

Running a USD Interest Rate Swap Book

  • Mapping cash flows to appropriate buckets
  • Measuring cash flows by DV01
  • Hedging cash flows


  • Define swaptions
  • Pricing swaptions
  • Application of swaptions

Asset Swaps

  • Par-Par Swaps

Other Types of Swaps

Currency Swaps

  • Pricing and Valuation
  • Evaluating conversion factors


New York - Soho

 Mon 1 Dec 2014-Fri 5 Dec 2014
     9:00 - 4:30

Instructor(s) : Mccabe Hurley


Professional Credits:
CPE Credits 36
$4,499 USD
Duration 5 Days
Advance Preparation
No advance preparation required.
Attendees should have an understanding of the fixed income & equity markets.
Instructional Method