Derivatives PC- Virtual Series

New York Institute of Finance


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Derivatives PC- Virtual Series

May 12-28, 2023 (Meets Fri, Sat, Sun Only) | 8-10AM EST

Develop a comprehensive, practical understanding of derivative instruments including market conventions, contract specifications, valuation, trading strategies and the regulation of derivatives markets. The Online Professional Certificate in Derivatives encompasses the following core courses:

  • Derivative Instruments
  • Forwards and Futures
  • Options
  • Risk Management Using Derivatives
  • Equities
  • Fixed Income Securities
  • Asset-Backed Securities


Registration Includes:

  • 9 Online Virtual Sessions with Live Instructors
  • 2 Supplemental Digital Content eLearning Modules
  • Professional Certificate Examination

Participants must complete the virtual sessions and eLearning modules as well as pass the examination to receive a NYIF Professional Certificate of Mastery

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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.

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  • Flexible payments

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Module 1: Fundamentals (Duration: 1 Hr 40 Mins)

  • Diversification
  • Market Portfolio
  • Capital Asset Pricing Model
  • Compounded Returns
  • Asset Price Process
  • Unit Zero Coupon Bonds
  • Spot Rates

Module 2: Forwards and Futures Contracts (Duration: 20 Mins)

  • Spot, Forward, and Futures Contracts
  • Trading Volume and Open Interest

Module 3: Forwards and Futures Valuation (Duration: 1 Hr 10 Mins)

  • No-Arbitrage
  • Forward Payoffs
  • Cash and Carry Arbitrage
  • Basis and Cost of Carry
  • Financial Assets and FX Forwards
  • Risk-Neutral Valuation
  • Convergence

Module 4: Commodity Markets (Duration: 25 Mins)

  • Commodity Markets
  • Crude Oil Forward Curve
  • Commodity Markets Scenarios
  • Seasonal Commodities and No-Arbitrage

Module 5: Hedging with Forwards and Futures (Duration: 25 Mins)

  • Hedging
  • Hedging with Equity Index Futures

Module 6: Short Term Financial Forwards and Futures (Duration: 1 Hr)

  • Yield Curves
  • Forward Zeros and Forward Interest Rates
  • Spot and Forward Interest Rate
  • Rate Lock
  • Forward Rate Agreement
  • Eurodollar Futures
  • Federal Funds and FED Funds Futures

Module 7: Long Term Financial Forwards and Futures (Duration: 20 Mins)

  • Treasury Futures

Review Quiz (Duration: 45 Mins)

Module 1: Swap Fundamentals (Duration: 40 Mins)

  • Swaps
  • Simple Swap
  • Swap Price and Value
  • Swap Term Sheet

Module 2: Interest Rate Swaps: Basics (Duration: 2 Hr 25 Mins)

  • Unit Annuity
  • Unit Coupon Bond
  • Floating Rate Notes
  • Forward Rate Agreement
  • Interest Rate Swap
  • The Swap Rate
  • The Swap Rate Cont.

Module 3: Equity Swaps (Duration: 30 Mins)

Review Quiz (Duration: 45 Mins)

Module 1: Advanced Swap Topics: Asset Swaps, Amortizing Swaps

  • SOFR Swaps
  • Forward starting swaps
  • Amortizing and accreting swap
  • Asset Swaps
  • Par asset swaps
  • Asset swap spreads vs. CDS spreads

Module 2: Foreign Exchange Swap

  • Foreign Exchange Markets
  • Managing FX Risk
  • Deliverable and Non-Deliverable Forwards
  • FX Swaps and Cross Currency Swaps

Module 3: Credit Swaps

  • Single-name credit default swaps (CDS)
  • ISDA credit definitions
  • CDS market conventions
  • Portfolio Credit Default Swaps
  • iTrax and CDX Basket Default Swaps

Module 1: Advanced Swap Topics: Asset Swaps, Amortizing Swaps

  • The Basics
  • Option Contracts
  • Payoffs of Vanilla Calls and Puts
  • Replication and Put-Call Parity
  • Payoffs and P/L
  • Asset price
  • Strike price
  • Time to expiration
  • Interest rates
  • Dividends
  • Volatility

Module 5: Option Pricing Models

  • The Greeks: Delta, Gamma, Theta, Vega, Rho and Psi
  • Vertical Spreads
  • Calendar Spreads
  • Earnings announcements speculation

Module 7: Volatility Trading and Applications

  • Gamma Scalping Example: Remaining delta neutral
  • Volatility Trade Examples
  • Trading The Skew: Other Ways to Hedge

Module 8: Advanced Volatility Concepts: Analytics

  • Historical Volatility
  • Calculating & Interpreting Historical Volatility
  • Other Measures of Historical Volatility
  • Measuring Normal versus Market Implied Distributions

Module 9: Advanced Volatility Concepts: Implied Volatility Surface

  • Volatility Skew
  • Tendencies, Seasonality, Etc.
  • Term Structure of Implied
  • Volatility: Sticky Strike, Sticky Delta
  • Volatility Studies
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