Derivatives are contracts that derive their value from some underlying asset such as a fixed income security, an equity security, or a commodity. Derivative contracts can also derive their value from an interest rate, an exchange rate, an index, or even an event such a credit default. Derivatives may trade on an exchange or over-the counter (OTC). If trading on an exchange, derivative contracts are standardized versus OTC where the contracts are customized. There are a variety of derivative products including futures, forwards, interest rate and currency swaps, options, caps/floors, and credit default swaps. Derivatives are used for a variety of reasons including hedging, speculating, increasing yield, and replication. GFMI’s Derivatives Series addresses interest rate swaps, financial futures, options, lifecycle of a derivatives trade, and credit default swaps. The courses are stand-alone so you can choose all of the courses or just the ones that pique your learning interest.