2023/2024
Деривативы, структурированные продукты и лучшие практики инвестиционно-банковской деятельности
Статус:
Дисциплина общефакультетского пула
Кто читает:
Международный институт экономики и финансов
Когда читается:
1, 2 модуль
Охват аудитории:
для своего кампуса
Язык:
английский
Кредиты:
3
Контактные часы:
32
Course Syllabus
Abstract
What can GM offer Russia now? Who and why uses derivative financial instruments (or derivatives), structured products and what the capital market can offer. The world of derivatives and structured products offers a wide range of instruments, the payout profile of which depends on the behavior of the price of the chosen underlying asset. Among the current opportunities on the market there are products of both the exchange market and the over-the-counter market of interest rates, currency, commodities and others. Over the years, the mass media have painted in the minds of the public an enduring portrait of a Global Markets participant as a middle-aged man with a cigar and a handset in front of a screen full of numbers, but the consumer market is much larger. In Russia, several dozens of banks are running a successful business of working with corporate clients and individuals and financial institutions of medium and small levels. In the course, we will introduce students to the most common Derivative financial instruments, structured products and Investment Banking practices, taking into account the specifics of the Russian market. This will allow you to understand what the practical side of the work of GM and IB in Russia looks like, as well as to find out what professions exist in this market, what function they perform.
To participate in the course, the student is recommended to have a basic understanding of Global Markets, navigate the classic products of the Spot market and derivatives, and know the basics of asset pricing.
Learning Objectives
- The course is devoted to uncovering the practical side of derivatives and structured products in investment banking practice that take into account the specifics of the Russian market. It covers building hedging and arbitrage strategies along with other applications of GM products for financial institutions and corporate clients.
Expected Learning Outcomes
- Outline general principles of the derivatives market, identify main participants, functions and careers
- Explain what derivatives are used for and how to combine them to mimic a particular payoff
- Be able to construct a hedging and arbitrage strategy on the basis of the available spot and derivative instruments on the FICC markets
- Explain what ECM, DCM, M&A practices can offer
Course Contents
- Overview of the derivatives
- FX spot and derivatives
- Interest rate derivatives
- Commodities derivatives and financing
- Exchange-traded and OTC Structured Products
- Investment Banking overview
Interim Assessment
- 2023/2024 2nd module0.3 * case study + 0.4 * final test + 0.1 * teat 2 + 0.1 * test 1 + 0.1 * test 3
Bibliography
Recommended Core Bibliography
- George Michael Constantinides. (2015). Financial Derivatives: Futures, Forwards, Swaps, Options, Corporate Securities, And Credit Default Swaps. World Scientific.
Recommended Additional Bibliography
- Too big to fail : the inside story of how Wall Street and Washington fought to save the financial system- and themselves, Sorkin, A. R., 2010