This Euromoney Training course focuses on the international securities borrowing and lending and repurchase agreements (repo) markets. Its practical approach will provide you with an insight into how financial institutions lend and borrow securities, utilize repos as well as the collateral management processes that are required to support these activities. You will be given a thorough and clear understanding of how these markets operate, the risks involved, the economics of securities financing transactions and the administration and IT infrastructures required to support and control them. You will gain working knowledge of the life cycles of securities lending and repo transactions.
The course will also explain the growth and vital importance of securities lending and repos in the international financial markets. It will explore how these activities can improve market liquidity and be a benefit to the profitability of all parties involved.
The teaching methodology used on this course combines formal theoretical instruction with frequent use of exercises and case studies. These are based on real situations experienced by the course director in his over thirty year involvement in this business. The course is intended to be practical and interactive, with delegates encouraged to ask questions throughout. The course content is intended to give delegates an understanding that will be of immediate practical use in the workplace. The lecturer will be available throughout the duration of the course to offer additional help if required. Delegates will be divided into two small teams to work together on the exercises that will include some simple calculations for which a calculator will be required.
Attend this intensive and highly practical 3 day course and learn:
- The drivers and mechanisms of the international securities lending and repo markets
- Who the lenders are, the intermediaries and borrowers and how they operate
- The economics and benefits of lending
- The trading strategies and pricing mechanisms
- The life cycles of lending and repo transactions
- The differences between securities lending and repos and the documentation that governs them
- How dividends and other corporate events are impacted by lending and repos
- How to identify potential risks and understand the control measures to prevent them
- The collateral management processes including bilateral and Triparty arrangements
- The mark to market (MTM) process and the mechanisms for managing collateral
- The collateral and counterparty risks
Who should Attend
This course has been designed for anyone who wishes or needs to know about securities lending, the repo markets and collateral management including:
- Senior and middle management in financial services
- Operations Managers from investment banks, broker/dealers, prime brokers, fund managers, pension funds etc.
- Pension Fund Trustees
- Middle Office and Risk Managers
- Product Controllers
- Internal and External Auditors
- IT developers (focused on operations or Securities Financing)
- Business Analysts and Consultants
- Compliance staff
- Graduate and Management Trainees