This 5-day Euromoney Training programme has been designed to provide delegates with a thorough understanding of the derivatives market place for both OTC and exchange-traded instruments and in particular how derivatives are used on a day-to-day basis to manage both exposures and to provide solutions. On the first three days of the programme delegates will gain a comprehensive understanding of the major classes of derivatives, how to distinguish between linear and nonlinear derivatives and pricing methodologies. This includes a detailed introduction to derivatives, highlighting trading mechanics and the critical differences between OTC and exchange-traded derivatives. Additional sessions will include practical examples of money market OTC (FRA's) and exchange traded short-term interest rate futures contracts and ad swap instruments. The final two days of the programme explains, by way of specific examples, the use of options and how institutions use derivatives. With sessions looking at the use of equity options in proprietary trading, the role of swaps in the primary issuance business and the managing of FX exposures. The final day looks at financial engineering and more specifically, at how derivatives can be used to reduce funding cost and how to provide investors with instruments that meet their risk / reward requirements. The Derivatives School is unique both in the breadth of the teaching and practical examples used. Taught by first class course directors, we can assure you will receive a comprehensive overview of the derivatives market with detailed practical examples as how they apply to today's market conditions.