Course Objective

This course gives an understanding into capital market finance, with a look into short and long term debt instruments, the key players and considerations in fixed income securities. This course sheds light on how markets operate, the motivations and risks for short sellers and the economics of securities lending.


Who Should Attend?

Regulatory/Compliance staff, Finance Directors,


Prerequisite Courses

None


Course Overview

• Fixed Income Securities
- What is debt and types of debt
- Fixed income securities – Long term bonds
- Overview of short-term debt Instruments
- Issuance of fixed income securities
- Key players
- Key considerations – Interest rates, Maturity, Bond Pricing and yields, etc.
- Risk Analysis – Political, Selection, Economic, Issuers Risk
- Security Arrangements/Role of Trustees – Secured and unsecured debt, Trust Deeds and Covenants.
- Portfolio Investment Strategies – Active and Passive strategies.
• Market Making, Short Selling & Securities Lending
- How markets operate
- Regulatory requirements
- Market Participants
- The role of a market maker in proving liquidity
- Trading platforms
- Motivations for short selling
- Risk for short sellers – recall risk and crowded exits
- Managing the risk
- Identifying candidates for short selling
- Economics of securities lending – Benefits to borrower and lender, Margin requirements, cash and non-cash collateral
- Risk Management.


Course Materials

Course notes, handouts