This program is designed to give participants a strong foundation in the basics of the foreign exchange markets. Specifically, the course introduces both spot and forward products: their features, characteristics, and applications. The course is hands-on and uses exercises, spreadsheets, and case studies to develop the participant's knowledge of FX products and markets. In addition, interactive computer-based trading simulations are used to re-create a real-time environment for both spot and forward FX trading strategies.

Objectives

By the end of the program, participants will be able to:

• Interpret direct and indirect quotations in the spot FX markets
• Derive forward FX prices from interest rates
• Interpret forward FX quotes
• Calculate P&L for both spot and forward positions
• Derive FX cross rates
• Use the forward FX market to:
  • Hedge corporate FX transactions
  • Manage forward FX positions
  • Create synthetic borrowings and investments
• Explain covered interest arbitrage
• Give details of the structure and settlement of Non Deliverable Forward (NDF's)
• Analyze the different risks associated with FX products and markets
• Explain Continuous Linked Settlements (CLS)
• Distinguish between FX and currency swaps

• Professionals starting careers or transferring into FX or Treasury, including:
  • Traders and Portfolio Managers
  • Corporate FX Managers
  • FX Marketers
• FX operations, accounting and other support staff
• Risk managers
• Examiners and Auditors for organizations with FX activities