Objectives

In this course we look at over-the-counter and exchange-traded instruments related to short-term interest rates. We compare and contrast these instruments in terms of interest rate exposure and credit risk and assess their relative value as tools for hedging and expressing views about changes in the yield curve.


Target Audience

Participants should have a basic understanding of fundamental financial market concepts such as present value, risk and return. Although no prior knowledge of interest rate derivatives is assumed, familiarity with the basic types of derivative security (forwards and futures, swaps and options) is recommended.


Length and Structure of the Course

The course consists of two days of lectures and case studies. Each day typically consists of four 90 minute session with coffee breaks in the morning and afternoon and a lunch break in the middle. There is no exam for this course but candidates will get a certificate of attendance.


Course Tutor

David Oakes
David trained as an economist at the London School of Economics and was lecturer in finance at the University of Exeter and Warwick Business School before joining the ICMA Centre at the University of Reading as Director of Academic and Professional Education in 1998. He co-ordinated ICMA Executive Education programmes from 1994-2004. David left the Centre in 2004 to set up Dauphin Financial Training Inc., which delivers advanced financial markets training to investment banking clients in New York and around the world.