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Course Outline
Global Capital Markets
- Defining the concept of a ‘financial market place’
- The historical evolution of modern global financial markets
- The influence and role of financial media
- Architectural structure of major capital markets:
- Exchanges, clearing houses, and regulatory bodies
- The contemporary surge in global investment flows
- Different types of ‘Stock Exchanges’
- The positioning of Stock Exchanges within today’s market ecosystem
- Overview of US, European, Middle Eastern, and Asian Stock Exchanges
Financial Markets Regulation:
- Capital Adequacy Requirements
- Basel I Framework
- Basel II Framework
- Basel III and its strategic implications
- Innovation as a source for new product development
Asset Classes and Their Corresponding Markets
- Current instruments traded on Stock Exchanges
- Equities: Common and Preferred shares
- Bonds: Corporate and Government issuances
- Bond structures: Fixed, Floating, and Zero-coupon rates, and the Yield Curve
- Money Market instruments
- Currency markets
- Investor motivations: drivers for buying and selling
- Dynamics of Income versus Capital Gain
- Interdependencies among various asset classes
- The interplay between Exchange-traded and Over-The-Counter (OTC) markets
Short-Term Money Market
- Certificates of Deposit
- Treasury Bills (T Bills)
- Commercial Paper
- Trade Paper and Bankers' Acceptances (BAs)
- Standard market norms and practices
- Key market participants
Categories of Stock Exchange Investors
- Retail and institutional Investors
- Fund Managers
- Hedge Funds
- Primary Stock Exchange participants
- Investment Banks, Brokers, Hedge Funds, and Prime Brokers
- Intra-market dynamics: balancing the buy and sell sides of the industry
The Role of the Stock Exchange
- Trading venues for various financial products
- The significance of the OTC market
- Historical progression of Stock Exchanges
- Major Stock Exchanges in the current global landscape
- Comparative architectures of US, European, and Asian Markets
- Asset classes listed on exchanges worldwide
- Distinguishing between major Primary and Secondary markets
- Key hubs: New York, Euronext, London, Shanghai, and Hong Kong
- The appeal of ‘listed’ companies to investors
- Leveraging Stock Exchanges for liquidity pooling and capital raising
- Strategies for Capital Raising
- ‘Floating’ a company: methods and procedures
Clearing & Settlement
- Settlement processes and associated risks
- Diverse Settlement Conventions across major markets
- Settlement mechanics for Equities, Bonds, and derivatives
- Derivatives Clearing processes
- The Central Counterparty (CCP) role
- CCP services delivered to Stock Exchanges
- Margin requirements
- The security trade settlement workflow
- Pre-settlement activities
- Final settlement
- Common challenges: unmatched trades, settlement delays, and delivery failures
- Settlement discipline within Stock Exchanges
- The ‘life cycle of a trade’: linking execution to settlement
- The function of International Central Securities Depositories (ICSDs) and Central Securities Depositories (CSDs) – including LCH.Clearnet, Euroclear, Crest, Clearstream International, and the DTC
Custody
- The function of Custodians in Stock markets
- Settlement and safekeeping of assets
- Income collection and processing Corporate Actions
- Cash management and funding transactions
- Supplementary custodial services
- Accounting requirements
- Stock Lending and collateral management
- Trustee services
- Valuation reporting
Alternative Investments
- Definition and scope of Alternative Investments
- Structured products: Risk-return profiles
- Hedge funds: Risk management and control mechanisms
- Venture Capital: Valuation challenges, risk, and control
- Private Equity and Angel Finance
- Application of derivatives in Asset Management
- Comparing OTC vs Exchange-Traded Derivatives (ETD)
- Derivatives types utilized in Asset Management
- Futures
- Options
- Risk and control frameworks for derivatives, covering documentation, valuation, and reporting
Management of Quoted Equity Investments
- Risks inherent in acquiring securities
- Risks associated with portfolio management
- Risks linked to corporate actions
- Pricing methodologies for quoted equity investments
- Primary sources of investment risk
- General controls within equity investment processes
- Specific risks in international equity markets
Management of Quoted Fixed Income Investments
- Risks in acquiring and disposing of fixed-income securities
- Utilizing credit ratings and associated risk considerations
- Pricing risks for fixed-income securities
- Risk controls within corporate fixed-income processing
- Risks specific to Government Securities
- Sovereign risk ratings
- Valuation of government securities
- Risk controls in sovereign bond processing
Market and Credit Risks in Global Investing
- Identification of Market risks
- Value at Risk (VAR) calculations
- Market risk modelling techniques
- Understanding Credit Risks
- Metrics for measuring Credit risks
- Systemic Global Market Risks
- Money Market specific risks
- OTC market risks
- Exchange-related risks
14 Hours
Testimonials (1)
The lecturer is very knowledgeable and can substantiate theories with his own personal experiences.
