Foreign Exchange Marketplace - Evening

This course focuses on one of today's most profitable markets - foreign exchange. Students learn in detail what makes these markets tick and how traders and analysts make their decisions.

22-May-2008 -- 26-Jun-2008New YorkUSD$1775
NY Institute of Finance - Midtown5:45pm - 8:15pm Instructional Method:
Group-Live
Instructor(s): [ Cornelius Luca; ] Thu Level: Basic
CPE Credits: 16

25-Sep-2008 -- 06-Nov-2008New YorkUSD$1775
NY Institute of Finance - Downtown6:00pm - 8:30pm Instructional Method:
Group-Live
Instructor(s): [ Cornelius Luca; ] Thu Level: Basic
CPE Credits: 16

New FX traders and investors, foreign exchange staff in commercial banks, middle office, auditors, securities firms, insurance companies and corporations, analysts, and junior traders.
No advance preparation required.
Students will be able to:
  • Understand the role of currency exchange for trading and payments
  • Identify the phrase of trading: trend, carry and volatility
  • Price structure and methods of conducting FX trading
  • Risk Management in FX
  • Role of cross trading
  • Using forward trading methods
  • The advantage of options
  • Risk Management Suite
  • Derivatives Suite: Strategies, Trading & Valuation
    • Schedule Note
    There will be no class session on Thursday, October 9, 2008.
    Session I

    Introduction to Foreign Exchange

    • FX Instruments
    • Characteristics of the Major Currencies
    • Major Players
    • Role of Central Banks
    • Major FX Markets
    • Price Structure and FX Terms
    • Conducting FX trading: Dealing Systems, Voice Brokers and Matching Systems

    Historical Developments Review

    • Bretton Woods Accord
    • After Bretton Woods: the European Joint Float and the Smithsonian Accord
    • European Monetary Union
    • The Significance of Eurozone

    Foreign Exchange Risks

    • Market (Exchange) Risk
    • Interest Rate Risk
    • Credit (Settlement) Risk
    • Country Risk
    • Managing FX Risks

    Session II

    Mathematics of the Spot Market

    • Pricing
    • Conducting FX Trading (Brokers' Market vs. Direct Market)
    • Position Keeping
    • Exchange Rate Averaging
    • Profit and Loss: Realized vs. Unrealized

    Mathematics of the Cross Currencies Market

    • Pricing
    • Position Keeping
    • Exchange Rate Averaging
    • Profit and Loss: Realized vs. Unrealized

    Session III

    Mathematics of the Forward Outright Market

    • Value Date Determination
    • Pricing
    • Premium/Discount/At Par Forward Outright Spreads
    • Calculation of the Forward Outright Spreads

    Mathematics of the Swap Market

    • Pricing
    • Value Date Determination: Standard maturities vs. Odd-value Dates
    • T/N Swap

    Session IV

    Mathematics of the Currency Futures Market

    • Definitions
    • Pricing
    • Conducting FX Trading
    • Position Keeping
    • Exchange Rate Averaging
    • Marking-to-Market
    • Margins: Initiation vs. Variation
    • Hedging and Arbitrage
    • Trading Futures Over-Night

    Mathematics of the Currency Options Market

    • Definitions
    • Premium Quoting
    • Pricing
    • Conducting FX Trading
    • Position Keeping
    • “Greek” letters: Definitions and Relationships
    • In-the-Money, At-the-Money, Out-of-Money
    • Intrinsic Value
    • Extrinsic Value
    • Volatilities
    • Basic Strategies

    Session V

    Fundamental Analysis

    • Economic factors
    • Financial factors
    • Political factors

    Session VI

    Introduction to Technical Analysis

    • Concepts of Technical Analysis
    • Types of Charts (line, bar, candlestick, point-and-figure)
    • Comparative Analysis
    • Trend Analysis
    • Retracement Percentages: Dow, Fibonacci and Gann
    • Basic Chart Formations
    • Role of Moving Averages in Your Analysis
    • Role of Oscillators in the Trending Markets

    Clients who register for this course will receive a complimentary 6 month subscription to the Financial Times and FT.com. The Financial Times is the world's most respected financial newspaper providing a broad assessment on finance, business and the industrial sector. Subscriptions will start within 6-8 weeks of the application process, and are limited to one per client. For questions about your subscriptions call 800-628-8088 or email uscirculation@ft.com. US and Canada enrollees only.

    Lunch included for all students taking day classes.