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Understanding foreign exchange

Category: MASTER COURSE

This one-day course covers all the basic concepts and products used in the foreign exchange markets. The major uses of foreign exchange by both banks and corporations are examined.

Who should attend?
This course is ideal for anyone with an interest in the FX market – whether they are working in corporate treasury, bank or any other environment where exposures to currency risk occurs.

Previous attendees have come from asset management firms, investment and commercial banks, as well as non-financial corporations. In terms of job role, the course is suitable for those working in trading, sales, risk management, treasury analysts, finance, IT, legal, compliance and operations.

What you will gain
This one-day course covers all the basic concepts and products used in the foreign exchange markets. The major uses of foreign exchange by both banks and corporations are examined with ample opportunity given to apply the concepts, as the presenter will run a number of exercises throughout the day.

Attending the course will enable you to:

  • Understand conventions and ‘jargon’ used in the spot FX market
  • Master the pricing of forwards and evaluate alternative hedging choices for major currency pairs
  • Be conversant with the economic drivers of currency markets
  • Appreciate how option products can be used as part of either a hedging or speculating strategy

Programme outline

Background

  • The development of the FX market
  • Market participants and volumes

The Spot Market

  • How rates are quoted
  • Market terminology and conventions
  • Bid/offer spreads and making versus taking prices
  • Calculating cross rates from spot rates
  • Settlement in the FX market
  • Economics and the FX market
  • Impact of inflation, GDP and other indicators

Forward Rate Derivation

  • Interest rate differentials

Forward Rates Application

  • “Vanilla” hedging of future payables and receivables – outright forwards
  • Non-Deliverable Forwards (NDFs)
  • FX futures. Exchange traded derivatives

Currency Options

  • Option terminology and principles
  • Hedging and speculation with options
  • Pay-off profiles
  • Options premium
  • Strategy overview

Depending on your existing knowledge, the following BPP courses would provide complimentary learning to this course: Introduction to Derivatives (including Futures, Forwards, Options & Swaps) and Risk Management - Introduction
 

The course starts at 9.00am. Lunch and refreshments are included.
6 CPD hours (where applicable). 

CIMA work in partnership with BPP Professional Education to offer CPD training courses

 



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Understanding foreign exchange

CIMA members and students should log in to MY CIMA before booking to receive the appropriate discount.

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In-house training 
We can develop tailored training programmes to enhance the finance and business skills of staff across your organisation. To discuss how we can meet your learning and development needs please email us.

Find out more 
If you have any queries please email cima@bpp.com or phone us on: +44 (0)3300 603400.

The venue for this course will be confirmed 14 days before the scheduled date. 

CIMA work in partnership with BPP Professional Education to offer CPD training courses.  

This course will be delivered by BPP Professional Education Limited (“BPP”).  Accordingly, when you sign up for this course, CIMA will pass on the contact details you have provided to BPP so that they can contact you to complete your booking and process payment.  BPP will process any personal information it collects about you in accordance with its privacy policy, which is available at: http://www.bpp.com/professional-education/privacy

The information provided to BPP will not be used by BPP for marketing purposes.

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