Overview
Advanced Futures & Forwards Course Overview
This Advanced Futures & Forwards course teaches the importance of basis, hedging, and trading with futures and forwards. You will learn about the factors influencing basis, as well as various components of bond futures including cheapest-to-deliver (CTD) bonds, repos vs. reverse repos, and how to calculate implied repo rates. You will also learn how to hedge CTD and non-CTD bonds, and how to adjust duration using futures. After completing this course, you will have a better understanding of LIBOR alternatives (ESTR, SOFR, SONIA, etc.), exchange delivery settlement price (EDSP), and spread (basis) trading with futures.
Modules explored:
- Futures & Forwards Pricing – Review
- Understanding Basis
- Bond Futures – Basis Risk
- Futures Hedge – Basis Risk
- Refining the Hedge
- Spread (Basis) Trading With Futures
Advanced Futures & Forwards Learning Objectives
Upon completing this course, you will be able to:
- Explain basis and factors which influence it
- Identify basis risk within futures and bonds
- Calculate implied repo rates
- Determine how to hedge CTD and non-CTD bonds
- Interpret LIBOR alternatives (ESTR, SOFR, SONIA, etc.)
Advanced Futures & Forwards Is an Elective Course of CFI’s CMSA® Program
CFI’s Capital Markets & Securities Analyst (CMSA)® program covers all the basic, intermediate, and advanced topics about sales and trading, investment banking, and asset management. This program teaches you trading strategies used in the finance and capital markets industry. It is ideal for students who want to learn how to trade different asset classes. The program is completely online so you can take it at your own pace, from anywhere in the world.
Common career paths for students who take the CMSA® are Sales & Trading, Asset Management, Wealth Management, Treasury, Risk Management, and other capital markets careers.
Who Should Take This CMSA® Course?
This Advanced Futures & Forwards course is ideal for any student or professional interested in gaining a better understanding of the futures and forwards markets. Whether you are interested in derivatives or not, this course provides the key learning objectives required to become familiar with these complex tools.
What you'll learn
Become a certified All Capital Markets & Securities Analyst (CMSA)® Courses
Advanced Futures & Forwards is part of the Capital Markets & Securities Analyst (CMSA)® certification, which includes 36 courses.
- Skills Learned Trading strategies used in the finance and capital markets
- Career Prep Work in capital markets, whether on the buy-side or the sell-side
Path to certification
Prep courses
6 courses from beginner to intermediate level.
01 OptionalCore courses
8 courses from beginner to intermediate level.
02 RequiredElective courses
21 courses in advanced and intermediate levels.
03 RequiredGet certified
Submit your CMSA® checklist and order your certificate.
04
Required
Join our community
Get access to the Global Corporate Finance Society.
05
Optional
How the certification works
What our students say
The instructor was fine, but the lack of interactive exercises for most sections made the qualified assessment much more difficult and I felt unprepared. The course materials weren't as helpful so I had to search through the lecture videos to find simple answers.
Nicholas Smith
I need more contents like this
Oluwaseun Ayoola Williams
good
Yaksh Soni
great
