Nimeni nu se multumeste cu averea pe care o are, dar fiecare e multumit de inteligenta sa.

 

Tolstoi

 

Daca vrei sa vezi foarte departe, trebuie sa incerci necontenit sa urci cat mai sus.

 

 

Constantin Brancusi

 

Recunoasterea necunoasterii este conditia cunoasterii.

 

 

anonim

Cel mai mare obstacol in a invata ceva nou, este sa crezi ca stii deja acel ceva

 

 

filosofie Zen

Succesul inseamna sa mergi din esec in esec fara sa-ti pierzi din entuziasm 

 

 

Winston Churchill

 

Nu suntem curiosi decat in masura in care suntem instruiti 

 

 

proverb francez

 

Invata plangand si vei castiga razand 

 

 

proverb portughez

 

Financial and money market products - Interactivities and arbitrages 1-3.11.2011

Data inceput: 01-11-2011
Data sfarsit:  03-11-2011
Lector:  Jean-Pierre Doumont

Institutul Bancar Roman si Agence de Transfert de Technologie Financiere – Luxemburg, prin unul dintre cei mai valorosi lectori, dl. Jean-Pierre Doumont, va invita sa participati la cursul  “Financial and money market products-Interactivities and arbitrages”, programat in luna noiembrie 2011.

Pentru a pastra acuratetea obiectivului, continutului cursului si termenilor specifici utilizati, prezentarea este facuta in limba engleza.

Objective
The Money Markets Products are closely interlinked together. This market is clearly referred to as "Futures Driven Market”.  Nowadays, every price is made depending on the vagaries of the “Futures”. How has this mechanism developed? How does actually work the arbitrage?  Furthermore, Financial Markets (products of the Medium and Long-term) impact regularly the very short instruments.  How is this possible?
The "Futures", the "Options" and some other Derivatives are extensively exchanged and dealt in the International Money Markets and this, since over 20 years. What are the characteristics of these products? Why are we using them and how do they work exactly? What are the advantages but also the risks of these very popular products in the major trading rooms worldwide?

Methodology
Basing our introduction on the constraints and especially the limits of the traditional cash products, we will watch the evolution that led our markets to the Futures, Options and some other Money Market Derivatives Products. We'll briefly analyze the mathematical mechanisms and the hedging proposed by these “new” products. We'll observe the fine border between an exposure to major risks and the wisdom of an intelligent management of those products.
The last day, we will study the charateristics of the Bond Portfolio and a way to hedge sophisicated portofolio with some very simple IRS (or other tools).
The methodology will go through some group exercises to help the understanding of the operating mechanisms (much lighter approach than a classic "ACI Preparation Dealing Certificate Course)

Content

DAY 1   
1 - Cash Product: Mechanism, constraints and limits
2 - The Forward / Forward Cash
3 - The Repurchase Agreement (Simple Notion)
4 - The Forward Rate Agreement and the Futures

DAY 2
5 - The Yield curve as stripping and the IRS
6 - FX Spot, FX Forward, FX Option

DAY 3
7 - Bonds, Duration, Sensitivity, Convexity
8 - N Duration Hedging
9 - LT Futures and interference in the Short Term
     (Cheapest to Deliver & Cash and Carry)

Trainer
Domnul Jean-Pierre Doumont,  in prezent este Director General al companiei Doumart Consulting S.A. din Luxemburg si Senior Expert Oficial al ATTF - Luxemburg . Are un Master in Stiinte Economice FNDP Namur si UCL LLN, absolvit in 1980. Pana in 2002, ca director al Carl Kliem S.A., o companie europeana de servicii financiare si brokeraj, domnul Doumont a avut responsabilitati de dezvoltare, de formare si de management al firmei. Domnul Doumont este cunoscut la nivel mondial pentru sustinerea cursurilor de pregatire in vederea obtinerii Certificatului ACI Dealing, curs care in Romania s-a desfasurat pe parcursul a cinci ani.

Grup tinta
- ofiteri de operatiuni ( front, middle and back office )
- manageri de operatiuni
- manageri de risc
- angajati din departamentele: trezorerie, private banking
- angajati ai departamentului de supraveghere din banca centrala

Conditie participare curs
- buna cunoastere a limbii engleze

Perioada
Cursul se va desfasura la IBR, pe durata a 3 zile, in perioada 01 - 03 noiembrie 2011, intre orele 9.00 – 16.00.

Taxa de participare
Taxa de participare reprezinta contravaloarea a  600 euro/participant/curs la cursul din ziua platii. Taxa de participare trebuie achitata pana la data de 3 octombrie 2011.
Plata se va face in lei in contul Institutului Bancar Roman, numarul RO07 BRMA 0700 0708 9470 0000 deschis la Banca Romaneasca-SMB (pe ordinul de plata va rugam sa specificati numele cursantilor).

Data limita pentru inscrieri:  23 septembrie 2011

Contact
Maria Plaisanu - maria.plaisanu@ibr-rbi.ro
                           021 327 48 93; 0748 886 846








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