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Bond Trading and Portfolio Management Workshop

By: Euromoney Financial Training


19 - 23 May, 2014  5 days

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A 5 day intermediate level training programme provides participants with a highly practical course agenda covering fixed income securities, derivatives and fixed income trading and portfolio management

This 5-day programme provides participants with

  • Fixed income fundamentals – Pricing and Risk Characteristics
  • Fixed Income Trading and Investment Strategies
  • Yield Curve Modelling and Analysis
  • Bond Portfolio Management – Strategic and Tactical Asset Allocation
  • Fixed Income Active Management Strategies
  • Portfolio Construction and Risk Budgeting
  • Interest Rate, Inflation and Credit Derivatives
  • Applications of Derivatives in Fixed Income Portfolio Management
  • Bond Portfolio Management – Real-time Trading Simulation
  • Plus: Participants will receive a free CD-ROM containing Trading and Portfolio Management software

Programme Overview and Objectives:
The global corporate and government bond markets have experienced a renewal of substantial rates of growth in issuance since the global financial crisis, the result of a variety of factors – increased government budget deficits and debt issuance post-credit crisis, and corporate bond issuance resulting from the need for balance sheet repair, low interest rate levels and the need to diversify funding sources in an environment of reduced bank loan origination capacity. Furthermore, investor appetite for bonds relative to equity investment has increased in the current volatile market environment.
In addition, the bond markets become ever more closely linked to the interest rate and credit derivatives markets, markets that have ever increasing importance in their usage within fixed income trading, hedging and bond portfolio management.
This 5-day programme provides participants with a highly practical context to enhance their understanding of bonds, bond pricing, risks, yield curve modelling, with a particular focus on bond trading techniques and the day to day activities involved in fixed income trading and portfolio management. Participants are provided with a suite of models (Excel based) to install and utilise during the programme, and which they are free to retain for their own use after the course conclusion.

Teaching Methodology
This highly practical programme agenda is comprised of two parts: Classroom based teaching complemented by extensive use of case studies and Excel based exercises, which are designed to enable participants to master a practical understanding of all aspects of the course agenda, and in addition a real-time fixed income trading simulation, during which participants manage a portfolio of fixed income securities and derivatives within pre-determined objectives and constraints.

Bond Trading: Active Management Trading Simulation
Each day, throughout the course duration, course participants will actively take part in a real-time fixed income trading simulation. In this practical exercise, participants each adopt the role of fixed income portfolio manager, responsible for the active management of a global bond portfolio, using real-time market price/rate data, and within a set of constrained risk parameters.
Participants have access to a range of financial instruments (bonds, derivatives, FX), with the aim of actively managing the portfolio in order to outperform a specified benchmark index over the 5 day course duration.
Each morning during the programme, in a two hour session, participants have the opportunity to revalue their portfolios, monitor absolute and relative performance, analyse and implement a range of active strategies subject to risk constraints. On the final day of the programme, overall performance is calculated and prizes awarded to the leading candidate.
The overall objectives of the fixed income trading simulation workshop are to provide a practical and realistic context to understand the key characteristics of fixed income securities and derivatives, their relationship to the prevailing market environment, and to enhance understanding of the key processes, objectives and constraints in trading and managing bond portfolios.

Who should attend?
  • The course will be of value to professionals in the following areas:
  • Fund Managers
  • Portfolio Managers
  • Fixed Income Analysts
  • Traders
  • Fixed Income Trading and Sales Personnel
Accra, Ghana May 19 - 23 May, 2014
(Convert Currency)

+44 (0)207 779 8543