Forwards & Futures – Introduction, Pricing & Trading
This e-training programme comprises 3 topics/tutorials. Answer all quiz questions at the end of each tutorial in order to complete the training.
A) Forwards & Futures – An Introduction
(Estimated Completion Time: 60 Minutes)
In this tutorial you learn about the most basic derivative building block – the forward transaction – which can take the form of OTC forwards or and exchange-traded futures contracts. The similarities and the differences between these two product types are examined. You will discover how it is becoming increasingly difficult to distinguish between the two. Finally the trends in the markets for both of these derivatives are discussed.
B) Forwards & Futures – Pricing
(Estimated Completion Time: 75 Minutes)
At the heart of derivative pricing lies the concept of a forward price. Forward markets exist for nearly all financial, and many non-financial, assets. This tutorial shows how a ‘fair’, but essentially unique, forward price can be calculated for most investment assets. It also examines how the assumptions differ when dealing with the forward prices of consumption assets rather than investment assets.
C) Forwards & Futures – Trading
(Estimated Completion Time: 75 Minutes)
The practice of hedging is the foundation of futures and forward markets, but in this tutorial we examine the various non-hedging trading strategies used by practitioners. Futures contracts have always been popular with traders who have no particular hedging interests. Close attention in this tutorial is paid in particular to bond and money market futures trading strategies, such as bond basis trading, as these are probably the most widespread.
Terms and Conditions
1) Each e-training programme takes approximately 3 hours to complete.
2) In order to qualify for Continuing Education credits from SGX, please complete all quiz questions found at the end of each tutorial (a 70% pass rate is required) by 31 December 2018.
3) Access to the e-training materials is valid for 3 months from the date the access is issued. Trading Representative who requires Continuing Education Credit and registered at the last quarter of 2018, access is valid till 31 December 2018 (i.e. access given on 24 November 2018, access is valid till 31 December 2018).
4) Upon successful registration, an email with the access details and password would be sent to you within 2 working days.
5) If participants wish to make any changes to their application or request for a refund, written notice should be given within 10 business days of receiving the access ID and password to the online programme and provided the access has not been utilised. There will be an administrative fee of 20% of the fees paid. There will be no changes or refund if notice is given thereafter or if the access has been utilised.
6) Please login using Microsoft Internet Explorer from your PC or Laptop.
7) Please note that the learning management system is not compatible with browsers on Apple iOS or other operating systems.
8) For assistance please contact e-training@sgxacademy.com or call 6327 5438.
SGX reserves the right to make changes to information regarding the programme if warranted by circumstances beyond its control.