Forwards and Futures
Develop a comprehensive, practical understanding of forwards and futures including market conventions, contract specifications, valuation, and trading strategies.
CPE Credits: 7
This course is a component of the Derivatives Professional Certificate.
Prerequisite knowledge:
- Intermediate MS Excel skills (use solver, etc.)
- Basic probability
- Basic calculus
- Some knowledge of equity markets
- Knowledge of fixed income basics
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To make it even easier to learn, you can finance your program through Affirm.
Loans offered through Affirm are available in the U.S. and Canada.
Module 1: Forwards & Futures
- Standardized versus customized contracts
- Margin & daily settlement
- Clearing firms
- End users & producers
- Speculators & arbitrageurs
- How market participants use futures
Module 2: Short-term Financial Futures
- Forward rate agreements (FRA's)
- Value of a basis point in FRA's
- Eurodollar futures
- Value of a basis point in ED Futures
- FRA’s vs. ED Futures
Module 3: Long-term Financial Futures
- Treasury bond futures
- Basket deliverable futures
- Conversion factors
- Cheapest-to-deliver
Module 4: Hedge Accounting for Forwards and Futures
- Fair value and cash flow hedges
- Basis and hedge ineffectiveness