金融衍生工具培训教材.pptxVIP

Introduction to Financial Derivatives;Introduction to Financial Derivatives;Factors Driving growth of Derivatives;Derivatives - Today;Derivatives - Today;Derivatives growth;Derivative Securities;How are derivatives used?;What is Risk?;What is a Hedge;Types of derivatives;Forward Contracts.;Risks in a forward contract;FRAs;FRA;FRA;Forward Future Contracts;Payoffs in Forward Contract;Forward Contracts:Payoff Profiles;FUTURES;Futures Contracts ;Futures and Forwards: Comparison Table;Types of Financial Futures;Key Terms for Futures Contracts;The Use of Futures;Open Interest;Open Interest;Margins;Margin and Trading Arrangements;Marking-to-market Margin;Margin;Closing Out A Futures Contract ;OPTIONS;Introduction;A Contract;Who Trades Options ;Buyer Writer;Where are Options Traded ;Options vs. Stocks ;Options Terminology;Options Terminology;Options Terminology;Your Strategy;Why Trade Options ;An Example;Straddles;Pay-off of Straddle Strategy;Particulars;Expiration Value;Example;Index Options;SWAPS;Characteristics;Types of Swaps;Typical Uses of an Interest Rate Swap;Types of Swaps;SWAP - Process;Why Swaps Work;EXOTICS;Exotics – Introduction;Exotics – Characteristics;Exotics - Types;Exotics - Types;Trading, Clearing Settlement Systems for Exchange Traded Derivatives;Features of Exchange Traded Derivatives;Benefits offered by a fully automated trading platform over its open-outcry counterpart;Clearing and Settlement systems;Clearing and Settlement systems;Clearing is the process of determining obligations (cash and delivery) resulting from the buying/selling of a derivatives contract Generally understood as Central Counterparty clearing Most exchange-traded contracts are by default subject to CCP clearing;Clearing process;Clearing process;Settlement process;CS Summary;Thank You