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Corporate Finance Institute
Foreign Exchange - Deliverable Forwards

Overview

Foreign Exchange – Deliverable Forwards Course Overview

This course covers a range of important topics, teaching you how to use deliverable forwards effectively. First, you will learn the benefits and drawbacks of these tools and understand how forward points work. We will explore forward FX prices, forward cross rates, and forward FX broken dates. You will also learn strategies to deal with interest exposure, as well as how to manage a nostro account. After this course, you will have a more comprehensive understanding of how to use deliverable forwards to your advantage.

Foreign Exchange – Deliverable Forwards Learning Objectives

  • Explain the financial benefits of using FX deliverable forwards
  • Identify the differences between a spot, a forward, and a forward outright
  • Gain familiarity with forward foreign exchange terminology and understand its limitations
  • Calculate forward FX prices, forward cross rates, and forward FX broken dates
  • Use forward FX trades to manage a nostro account and interest rate exposure

 Who Should Take This Course?

This course is great for anyone considering hedging currency risk exposure. Anyone interested in a career involving forwards or currency trading can benefit by understanding the key ideas discussed in this course.

Foreign Exchange - Deliverable Forwards

Guy O'Loughnane
Led by Guy O'Loughnane
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Level 4

Approx 3.5h to complete

100% online and self-paced

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What you'll learn

Lesson
Multimedia
Exams
Files
Introduction
Course Introduction Free Preview
Downloadable Material
Deliverable Forwards
Deliverable Forwards Overview Free Preview
Deliverable Forwards Transaction Free Preview
Forward Outrights Free Preview
Why Use Foreign Exchange Forwards? Free Preview
Calculating Forward Points Free Preview
Forward Point Calculation Example Free Preview
Forward Point Calculation - Exercise
Variable Exchange Rate (Fixed Interest Rates) Free Preview
Fixed Exchange Rate (Narrower Interest Rate Differential) Free Preview
Fixed Exchange Rate (Wider Interest Rate Differential) Free Preview
Fixed Exchange Rate and Interest Rate Differential (Lower Nominal Rates)
Fixed Exchange Rate (Base Currency Rate Higher Than Counter Currency)
Forward Points Table
Forward Premium or Discount
Calculating Sub 1-Year Forward Points – Example
Sub 1-Year Forward Point Calculation - Exercise
Forwards in Action
Nostro Account
Market Time Periods
Bank's Nostro Account
Unbalanced Nostro Accounts
Salami Slicing
Deliverable Forward Confirmation Ticket
Fixed Counter Currency Amounts
Unequal Notional Amounts
Market Time Period Questions
Interactive Exercise 1
Midway Check-In
Midway Check-In
Tailored Dates
Tailored Dates and Forward Curves
The Refined Curve
Short-Term Interest Rates
Interest Rate Changes
Event Dates and Kinks in the Curve
Kinked Curve Calculation
Kinked Curves in an Uncertain World
Price Movements
Tailored Dates
Interactive Exercise 2
Market Application
Forward Quotes
Quoting Around Par
Reading a Forward Curve
Managing Forward Exposure
Forward Forwards: How to Calculate
CME IMM FWD-FWDs and Rolls
Calculating a Forward Cross Rate
Interactive Exercise 3
Conclusion
Conclusion
Qualified Assessment
Qualified Assessment

This Course is Part of the Following Programs

Why stop here? Expand your skills and show your expertise with the professional certifications, specializations, and CPE credits you’re already on your way to earning.

All Capital Markets & Securities Analyst (CMSA)® Courses
Foreign Exchange – Deliverable Forwards is part of the Capital Markets & Securities Analyst (CMSA)® certification, which includes 39 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
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Frequently asked questions

What are the requirements to take the courses?
All of our certification programs are open to students and professionals in various industries and levels of experience. Our curriculum is designed to teach what you need to know from basic fundamentals to advanced practical case studies. To take the courses and complete the exercises, students will only need access to a PC and/or Mac, Microsoft Suite (2016 or newer), and a stable internet connection. Click here to view the Technical Requirements
Can I download the Excel files and financial modeling templates for the course?
Absolutely! All the files and templates needed in a course are available for download. Just look for a module that shows Downloadable Files within the course dashboard. See here for a visual guide on how to do this.
How long do I have to complete the courses?
You will have yearly access to the courses as long as you maintain an active subscription. All the courses are self-paced as well so you can take your time in learning without worrying about any deadlines. Click here to compare our available enrollment options.
Are CFI courses officially accredited?
Yes, CFI is accredited by the Better Business Bureau® (BBB) to maintain training standards, the CPA Institutions in Canada, and the National Association of State Boards of Accountancy (NASBA) in the USA. Most of our courses qualify for verified CPE credits for CPA charter holders. Please refer to this page to view all available CPE credits.
Are there any additional fees or costs?
None! The bundle price includes everything and there are no additional fees or charges to earn your digital certification. You can see our enrollment fees listed here.
What currency are your courses priced in?
All our online courses are priced in USD. As this is a recurring payment, we accept all major credit and debit cards including Visa, MasterCard, and American Express.
How do I earn my certificates?
Students must complete all the video lessons, quizzes, and final assessments in each course. You can retake the assessments as many times as necessary until you reach an 80% passing grade. For more information on how to earn a course certificate, click HERE.
How are the exams conducted?
Students are required to complete an online assessment (Multiple choice questions, Fill-in-the-Blanks, and Excel Questions) at the end of each course. You can take the exams on your own schedule and will need to earn at least 80% to pass the course and earn your certificate of course completion. Please note that course exams can be repeated as many times as you need. Students are also required to complete the FMVA® final exam to earn their certification. How to Take a Qualified Assessment
Can I email the instructor if I have questions?
While the courses are designed mainly for self-study, we are happy to provide email assistance for general or technical support inquiries. The Full Immersion bundles include a premium email support function that allows you to communicate directly with in-house experts regarding course content. This is one of the key features that sets the Full Immersion bundle apart and makes it a worthwhile upgrade over the more affordable self-study bundle. You can compare more features in our bundles here.
Will these courses help me advance my career?
Based on hundreds of reviews from thousands of students we know how CFI courses have helped so many people advance their finance careers. Our courses are designed to be extremely practical and simulate the experience of being trained as a professional financial analyst…the ultimate way to advance your career. For real-world examples and to help delve even deeper into the course concepts, please look into our free career resources library.
More Questions?
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