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Fundamentals of Derivatives for Commercial Banks - June 2013  -  June 5-6, 2013

7:30 am

DAY ONE - Wednesday, June 5

Registration and continental breakfast opens.
8:30 am

Introductions and Objectives

  • Basic types of options – defining calls and puts
  • Types of underlying products (equity, interest rate, currency, index, credit, commodity, etc.)
10:15 am

Morning Break

10:30 am

Characteristics of Options

  • American, European, Bermudan, Asian exercise
  • Physical vs. cash settlement
  • Moneyness, intrinsic and time value, leverage, delta
  • Analysis of option prices
12:00 pm

Lunch

1:00 pm

Payoff profiles and risk/reward characteristics of options

  • Long and short puts and calls, straddles, collars and other combinationsInterest rate caps and floors
  • Exchange traded vs. OTC options and risk management
  • Hedging and speculation strategies for both the bank and its customers
  • Dynamic (delta) hedging
2:45 pm

Afternoon Break

3:00 pm

Option Pricing

  • Factors affecting option prices
  • Volatility, the VIX and the Greeks
  • Black-Scholes option pricing model
  • Visit to and analysis of the CBOE website and products
4:15 pm

Exotic Options

Binaries, outperformance, barrier, chooser, etc.

5:00 pm

Day One Wrap-up

7:30 am

DAY TWO - Thursday, June 6

Continental breakfast opens.
8:30 am

Swaps

  • Interest rate, currency, equity, commodity, total return, credit swaps
  • Forward Rate Agreements
  • Applications for banks and bank customers
10:15 am

Morning Break

10:30 am

Swaps (cont.)

  • Computation of swap price
  • Credit default swaps
12:00 pm

Lunch

1:00 pm

Futures and Forwards

  • Differences between futures and forwards
  • Equity, interest rate, currency, index, credit, commodity futures/forwards
  • Counterparty risk and ISDA
  • Applications for banks and bank customers
  • Futures contract specifications, exchanges, the clearinghouse and performance bonds/margin
2:45 pm

Afternoon Break

3:00 pm

Futures and Forwards (cont.)

  • Visit to and analysis of the websites of the CME Group, ICE, etc.
  • Hedging strategies
  • How futures prices are determined
4:30 pm

Structured Products

5:00 pm

Program Wrap-Up

Futures, forwards, options, swaps – which do we use?
David E. Levow
Owner and Founder, Levow Information Systems
David is a bank consultant and former vice president of Chase Manhattan Bank with more than 30 years of banking experience, encompassing international banking, treasury services, foreign exchange, and commercial lending.

His teaching experience includes the Graduate School of Retail Bank Management at the University of Virginia, the New York State Bankers Association School for Management Development, and Johns Hopkins School of Advanced International Studies.

David has consulted with banks and bank vendors, taught banking, and appeared as a speaker at banking conferences in countries on six continents, including China, Korea, Singapore, Australia, South Africa, Chile, Mexico, Brazil, Columbia, Venezuela, United Kingdom, France, Switzerland, Turkey and Canada.

He holds degrees in Mathematics from New York's City College (BS) and NYU (MS), and is also a Certified Cash Manager.
Event Date:
June 5-6, 2013
Event Location:
Downtown Conference Center
157 William St
New York, NY, US
Registration Fee:
$2,195 

Your registration includes all program work materials, plus continental breakfast and lunch both days.

Discounts available for groups of three or more. Call us at (434) 951-7786.

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Fundamentals of Derivatives for Commercial Banks is appropriate for commercial bankers with little or no understanding of the instruments covered. No prior derivative experience or knowledge is assumed and the program is entirely self-contained.

Participants are encouraged to bring their laptops in order to replicate the instructor's access of the various exchanges and products as well as explore them on their own (wireless internet access will be provided).

Attendees include:

  • Financial analysts and accounting professionals at commercial banks
  • Back-office and middle-office personnel including HR, IT and Operations looking to better understand the complex world of derivatives 
  • Commercial loan officers looking to expand their product knowledge
  • Junior analysts at investment banks, asset managers, and broker/dealers
  • Regulators, and bank professionals concerned with regulatory affairs
Event Date:
June 5-6, 2013
Venue:
Downtown Conference Center
157 William St
New York, NY, US
Accommodations:
Although lodging is not provided as part of this program, the hotels listed below are convenient to the Downtown Conference Center. Please call the Downtown Conference Center to inquire about negotiated rates or with any other lodging related questions (212) 618-6990.

Millennium Hilton
55 Church St.
212-693-2001
800-Hiltons

Gild Hall
15 Gold St.
212-232-7700
800-268-0700

Best Western Seaport Inn
33 Peck Slip
212-766-6600

Hampton Inn Seaport
320 Pearl St.
212-571-4400

Conrad Hotel
102 North End Ave.
212-945-0100

Eurostars Wall Street Hotel
129 Front St.
212-742-0003

Wall Street Inn
9 S William St.
212-747-1500

Ritz-Carlton Battery Park
2 West St.
212-344-0800

CFA Institute

14 Hours of Continuing Education Credit

SNL Knowledge Center is registered with CFA Institute as an Approved Provider of professional development programs. This program is eligible for 14 CE credits hours as granted by CFA Institute. If you are a CFA Institute member, CE credit for you attendance at this event will be automatically recorded in your CE Diary upon request.

National Association of State Boards of Accountancy

16 Hours of CPE Credit

Participants who complete this program qualify for 16 hours of CPE credit (Specialized Knowledge and Applications). Program Level: Intermediate. Delivery Method: Group-Live. SNL Knowledge Center is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 4th Ave N, Ste 700, Nashville, TN, 37219-2417. Website: www.nasba.org.

What is the dress code?
Business casual.

Do I need a laptop?
While it is not absolutely required, participants are encouraged to bring their laptops in order to replicate the instructor's access of the various exchanges and products as well as explore them on their own (wireless internet access will be provided).

What is your cancellation policy?
Cancellations for this program are eligible for a full refund, less a $150.00 administrative fee, if received at least 15 business days prior to the start of the program. Cancellations received after that date but at least 5 business days prior to the start of the program receive a credit in the amount of the registration fee, less a $150.00 administrative fee, to attend another SNL CFE program within 13 months. Due to commitments and expenses, cancellations received fewer than 5 business days prior to the start of the program are not eligible for a refund or credit.

Substitutions from the same company may be made at any time.

In the event of a cancellation from a group discount, refunds or credits are issued beginning with the most heavily discounted price, minus a $150.00 administration fee.
"No shows" - or those who cancel within 15 days of the program - and have registered under the Invoice option, remain liable for the full program fee.

SNL Center for Financial Education reserves the right to cancel/change programs, content, speakers or venue at any time. SNL CFE reserves the right to make portions of the program registration information available to program sponsors. SNL CFE will not be held liable for any costs incurred by registrant due to individual registration cancellation. In the event that a seminar is cancelled due to inclement weather, faculty cancellation or force majeure, CFE will refund the registrant's tuition in full, however CFE will not be liable for incidental or consequential out of pocket expenses incurred by the registrant. If you have questions regarding SNL CFE's refund, complaint or program cancellation policy, please call us at (434) 951-7786.

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