This course explains how fixed income and floating rate bonds work, what they are used for and the risks they contain. It also covers how bonds are issued, how swaps are used with bonds, the risks bonds contain and how structured bonds work.

Who is this course for?

The course is designed for people in the front office, operations, finance, audit and risk who need to know more about bond markets.

What is the level?

The course is an introduction and no prior knowledge of bonds is assumed. There will be a mixture of presentation material, case studies, questions and answers.

This is what you will learn:

• The terms used in bond markets and what they mean;
• How fixed interest bonds work;
• How floating rate notes work;
• Why bonds are issued and how this takes place;
• Why bonds are purchased;
• The main risks associated with bonds;
• How structured debt works.

Course date 29th May 2012.

Course fee £595 + VAT per person.

Cancellations may be made up to 20 days before the event. A £50 administrative charge will apply. Refunds cannot be made for later cancellations but substitution can be made at any time.

If you prefer an invoice please contact us.

Also available as an in-house course

Venue
London

Course Director
William Webster

Questions
Any questions about this course?

Course Summary

Morning

Introduction

• What bond markets are used for

How bonds work

• The cash-flow structure of bonds
• Coupons, accrued interest, day count conventions, clean and dirty prices
• Fixed coupon securities
• Floating rate Notes
• Zero coupon bonds

 Evaluating bonds

• Yield to maturity
• Discount margin
• Relative value

 Methods of issuance

• Medium term notes
• Public offerings
• Private placements

The Issuance Process

• The Investor’s & issuer’s objectives
• Selecting the bond structure
• Issue size
• Role of the manager
• Fees
• Maturity
• How swaps are used
• All in price on a fixed & floating basis

 Afternoon

Asset swaps

• How they work
• Par/par structures

Bonds and risk

• An introduction to:
• Credit risk
• Interest rate risk
• FX risk
• Problems with liquidity & valuation

Structured bonds

An introduction to:

• Collateralised debt obligations
• Mortgage backed securities
• Covered bonds

 End of Workshop & Review

What do people think about this course?

"Very well organised and structured. It helped to provide a greater insight into the functioning of the market place".

SD, Accountant

"William was very approachable and answered any questions that arose. A very helpful approach from someone that has traded!"

MC, Finance Manager

"Very clear and concise, it gave a good understanding of each of the products involved".

JB, Product accountant

"The Trainer was excellent and presented and explained the topics very clearly".

NB, Regulatory Reporting

Course Director

William Webster has 27 years of practical financial markets experience. He has worked for Barclays, First Chicago, BNP and ANZ. From 1994 to 1999 he was Head of Treasury at Nacional Financiera, London branch. He has first hand experience of trading foreign exchange, money market, fixed income and derivative products in both mainstream and emerging markets.

William established Barbican Consulting Limited in 1991 in response to the need for practical financial training.  He now runs this business on a full time basis undertaking training & consultancy for an established client base of financial institutions in Europe. He holds a degree in Banking and Finance, together with an MBA from City University, is an Associate of the Chartered Institute of Bankers and a member of The Institute of Directors.

In the words of one client "William knows his stuff".