About the Program:
This is a comprehensive classroom programme on knowledge of technical analysis, to
understand the strengths of technical analysis. After having in depth knowledge of technical
analysis and learning practical implications during this programme a learner will be able to
build his/her own trading strategies for intraday as well as positional trades.
Suitable for: Students Stock Analysts Finance Professionals Employees with financial service sector. Anybody having interest in this subject
Programme content:
Introduction to Stock Market
Introduction to Charts
Margin Concept
Concept of Short Selling
Introduction to Derivatives
Trading Basics
Placing Bracket orders
After market orders.
Trading with Trailing Stop-loss.
Candlestick Charts
One candle pattern
Two candle pattern
Three candle pattern
Pattern Study
Support
Resistance
Head and shoulder
Double/Triple top and Double/Triple bottom
Gap theory
Flags
Triangles
Technical Analysis Indicators
Lagging Indicators: SMA, EMA, DMA
Leading-Momentum Indicators: RSI, RSI Divergence, MACD
Supertrend
Guppy Trading System
Volume Weightage moving Average
VWAP
Price volume actions
Money Flow Index
Advanced Directional Momentum Index
Trend Analysis
Trend Reversal Formations
Trend Continuation Formations
Volume & Open Interest
Intraday/Positional Trading Strategies
John Murphy’s 10 Laws of Technical Trading
Dow Theory
Elliott Wave Theory
5-waves Dominant pattern
3-waves Correction pattern
Fibonacci
Fibonacci Golden Numbers
Fibonacci Retracement
Fibonacci Extension
Risk and Money Management
Rules for Discipline Trading
How to trading with low risk high reward
Programme highlights:
Practical applications on real market data. Utilise derivative strategies with technical strategies.
Able to prepare technical research reports. Able to prepare daily basis reports. Create your own
market forecast. Identify trends and important price patterns. Recognize patterns. Use technical
indicators. Apply technical theories
Duration of the programme: 30 Days
Programme Fee: ₹ 15000/-Fee includes Registration fee, Service tax, notes, books, software for technical analysis. ₹ 5000/- extra for NSE certified Technical Analysis Module. It includes the certification examination fee for NSE as well.
About the Program: This is a comprehensive classroom programme on knowledge of fundamental analysis, to understand the strengths of company analysis, industry analysis, economy analysis. Fundamental analysis is a stock valuation methodology arrived at by performing security analysis. An appropriate security analysis forms the basis of successful investment decisions. This module aims at providing a basic insight about fundamental analysis and various valuation methodologies used.
Suitable for: Students of management and commerce Stock Analysts Finance Professionals Employees with financial service sector. Anybody having interest in this subject
Programme content: Introduction Types of companies Initial Public Offer (IPO) Efficient Market Hypothesis Equity-Holding Pattern Analysis Concept of “Time Value of Money” Mind-set of an Investor Speculator vs Trader vs Investor The compounding effect Does investing work? Six Corporate Actions Dividend Bonus Shares OFS Stock Split Rights Issue Buyback of shares Company Analysis Understanding the Balance sheet Profit & Loss Statement Financial Statements Cash Flow Statement Analysis of Quarterly Results News based Analysis Price / Earnings Ratio Price / Book Value Ratio EBITDA Ratio PEG Ratio Financial Ratios Profitability Ratios Leverage Ratios Operating Ratios Valuation Ratio Index Valuation Top-Down Valuation Economy Industry Company Portfolio Management Stock Price vs Business Fundamentals Equity Research DCF Analysis Systematic Investment Planning Value Investing The Beta Margin of Safety Portfolio Diversification
Programme highlights: Fundamental analysis can help uncover companies with valuable assets, a strong balance sheet, stable earnings, and staying power. Learner will be able to identify and predict long-term economic, demographic, technological or consumer trends. This will allows investors to develop an understanding of the key value drivers and companies within an industry. Key highlight of this program is portfolio diversification and systematic investment planning.
Duration of the programme:
30 Days
Programme Fee:
₹ 12500/- Fee includes Registration fee, Service tax, notes, books, software for fundamental analysis. ₹ 5000/- extra for NSE certified Fundamental Analysis Module. It includes the certification examination fee for NCFM as well.
About the programme: This is a comprehensive classroom programme on knowledge of market indicators and options trading strategies, to learn about the various option strategies, to understand payoff concepts, to understand the objectives and risks of each different strategies, to know the technique of hedging. A learner will be able to pass NCFM Options Trading Strategies Module and NCFM Derivative Dealer Module successfully.
Suitable for: Students who are eager to acquire practical knowledge in Stock Market. Stock Analysts, Technical Analyst Stock brokers, Traders, Risk-Averse Investors Finance Professionals, Portfolio Managers. Anyone interested in Derivative Market.
Programme content: Introduction to Derivatives Understanding Interest Rates and Stock Indices Futures Contracts, Mechanism and Pricing Forward Contracts Applications of Futures Contracts Futures and Options Trading System Investment with Equity Futures Introduction to Options Concepts of Options Option Pricing Option Payoffs to Buyers and sellers 22 Option Strategies Option Valuation Option Pricing Band Upper Bound: Call Option Upper Bound: Put Option Lower Bound: Call Option Lower Bound: Put Option Put-Call Parity Quantitative Concepts Basic Option & Stock Positions Volatility Historical Volatility ARCH Model Exponentially Weighted Moving Average (EWMA) GARCH Model Implied Volatility Index Options Exotic Options Option Greeks Delta Gamma Vega Theta Rho Delta neutralizing Strategies Hedging Market Indicators Put-Call Ratio Open Interest Roll-over Volatility
Programme highlights: A unique professional designed program, Dynamic, highly practical & interactive training programs with real life case studies, Practical, real-world, non-academic, non-theoretical, hand-on instruction, Intensive step-by-step classroom training programs to understand derivative markets and its diversified domain, Decode financial jargon and uncover popular misconception, Explain the real story of Indian stock market. Learner will be able understand the use of derivative products in speculating, hedging and arbitraging, the trading, clearing, settlement and risk management in equity derivatives, the regulatory, accounting and taxation issues relating to equity derivatives.
Duration of the programme:
45 Days
Programme Fee:
₹ 15000/- Fee includes Registration fee, Service tax, notes, books, software for Derivative Engineering. ₹ 5000/- extra for NSE certified Options Trading Strategies Module. It includes the certification examination fee for NCFM as well.
About the Program: This is a comprehensive classroom programme on knowledge of technical analysis, to understand the strengths of technical analysis. After having in depth knowledge of technical analysis and learning practical implications during this programme a learner will be able to build his/her own trading strategies for intraday as well as positional trades. Advanced technical tools will help the trader become more confident as he/she will be able to predict the trends and patterns of stock price.
Suitable for: Students Stock Analysts Finance Professionals Employees with financial service sector. Anybody having interest in this subject
Programme content: Introduction to Stock Market Introduction to Charts Margin Concept Concept of Short Selling Introduction to Derivatives Trading Basics Placing Bracket orders After market orders. Trading with Trailing Stop-loss. Candlestick Charts One candle pattern Two candle pattern Three candle pattern Pattern Study Support Resistance Head and shoulder Double/Triple top and Double/Triple bottom Gap theory Flags Triangles Technical Analysis Indicators Lagging Indicators: SMA, EMA, DMA Leading-Momentum Indicators: RSI, RSI Divergence, MACD Supertrend Guppy Trading System Volume Weightage moving Average VWAP Price volume actions Money Flow Index Advanced Directional Momentum Index Trend Analysis Trend Reversal Formations Trend Continuation Formations Volume & Open Interest Intraday/Positional Trading Strategies John Murphy’s 10 Laws of Technical Trading Dow Theory Elliott Wave Theory 5-waves Dominant pattern 3-waves Correction pattern Fibonacci Fibonacci Golden Numbers Fibonacci Retracement Fibonacci Extension Risk and Money Management Rules for Discipline Trading How to trading with low risk high reward Advanced Technical Tools Advanced Elliot wave Integration of Elliot and Fibonacci Numbers. Elliot wave-Fibonacci Retracement. Elliot wave-Fibonacci Extension. Ichimoku Cloud. 8 different Harmonic Patterns. Wolfe wave. And various other Advanced Technical Tools in softwares like Amibroker, Advanced Get, Falcon.
Programme highlights: Practical applications on real market data. Utilise derivative strategies with technical strategies. Able to prepare technical research reports. Able to prepare daily basis reports. Create your own market forecast. Identify trends and important price patterns. Recognize patterns. Use technical indicators. Apply technical theories. Amibroker will be provided. AFLs will be given to make your trading decision based on Semi-Algo techniques.
Duration of the programme: 45 Days
Programme Fee:
₹ 25000/- Fee includes Registration fee, Service tax, notes, books, software for technical analysis. ₹ 5000/- extra for NSE certified Technical Analysis Module. It includes the certification examination fee for NSE as well.
About the Program:
This is a comprehensive classroom programme on knowledge of technical analysis, to understand the strengths of technical analysis. After having in depth knowledge of technical analysis and learning practical implications during this programme a learner will be able to build his/her own trading strategies for intraday as well as positional trades. Advanced technical tools will help the trader become more confident as he/she will be able to predict the trends and patterns of stock price.
Suitable for:
Students
Stock Analysts
Finance Professionals
Employees with financial service sector.
Anybody having interest in this subject
Programme content:
INTRODUCTION TO TECHNICAL ANALYSIS
1.1 What is technical analysis?
1.1.1 Price discounts everything
1.1.2 Price movements are not totally random
1.1.3 Technical Analysis: the basic assumption
1.1.4 Strengths and weakness of technical analysis
1.1.4.1 Importance of technical analysis
1.1.4.2 Weaknesses of technical analysis
CANDLE CHARTS
2.1 The charts
2.2 Candlestick analysis
2.2.1 One candle pattern
2.2.1.1 Hammer
2.2.1.2 Hanging man
2.2.1.3 Shooting star and inverted hammer
2.2.2 Two candle pattern
2.2.2.1 Bullish engulfing
2.2.2.2 Bearish engulfing
2.2.2.3 Piercing
2.2.2.4 Bearish harami
2.2.2.5 Bullish harami
2.2.3 Three candle pattern
2.2.3.1 Evening star
2.2.3.2 Morning star
2.2.3.3 Doji
PATTERN STUDY
3.1 What are support and resistance lines
3.1.1 Support
3.1.2 Resistance
3.1.3 Why do support and resistance lines occur?
3.1.4 Support and resistance zone
3.1.5 Change of support to resistance and vice versa
3.1.6 Why are support and resistance lines important?
3.2 Head and shoulders
3.2.1 Head and shoulders top reversal
3.2.2 Inverted head and shoulders
3.2.3 Head and shoulders bottom
3.3 Double top and double bottom
3.3.1 Double top
3.3.2 Double bottom
3.3.3 Rounded top and bottom
3.4 Gap theory
3.4.1 Common gaps
3.4.2 Breakaway gaps
3.4.3 Runaway/continuation gap
3.4.4 Exhaustion gap
3.4.5 Island cluster
MAJOR INDICATORS & OSCILLATORS
4.1 What does a technical indicator offer?
4.1.1 Why use indicator?
4.1.2 Tips for using indicators
4.1.3 Types of indicator
4.1.4 Simple moving average
4.1.5 Exponential moving average
4.1.6 Which is better?
4.2 Trend following indicator
4.2.1 When to use?
4.2.2 Moving average settings
4.2.3 Uses of moving average
4.2.4 Signals - moving average price crossover
4.2.5 Signals - multiple moving averages Oscillators
4.3.1 Relative strength index
4.3.1.1 What is momentum?
4.3.1.2 Applications of RSI
4.3.1.3 Overbought and oversold
4.3.1.4 Divergence
4.3.1.5 Stochastic
4.3.1.6 William %R
4.3.1.7 Real life problems in use of RSI
4.3.1.8 Advanced concepts
4.3.2 Moving average convergence/divergence(MACD)
4.3.2.1 What is the MACD and how is it calculated
4.3.2.2 MACD benefits
4.3.2.3 Uses of MACD
4.3.2.4 Money Flow Index
4.3.2.5 Bollinger Bands
4.4 Using multiple indicators for trading signals
4.4.1 Price sensitive technique
4.4.2 Volume sensitive techniques
4.4.3 Composite methods
4.4.4 How to use tool kit of trading techniques
4.4.5 Trading market tool kit applications
4.4.6 Bull market tool kit application
4.4.7 Bear market tool kit application
4.4.8 Trading market changing to bull market tool kit application
4.4.9 Trading market changing to bear market tool kit application
4.4.10 Bull market changing to trading market tool kit application
4.4.11 Bear market changing to trading market tool kit application
TRADING STRATEGIES
5.1 Day trading
5.1.1 Advantages of day trading
5.1.2 Risks associated with risk day trading
5.2 Strategies
5.2.1 Strategies for day trading
5.2.2 Momentum trading strategies
DOW THEORY AND ELLIOT WAVE THEORY
6.1 Introduction
6.2 Principles of Dow Theory
6.3 Significance of Dow Theory
6.4 Problems with Dow Theory
6.5 Elliot Wave
6.5.1 Introduction
6.5.2 Fundamental Concept
6.5.3 After Elliott
TRADING PSYCHOLOGY AND RISK MANAGEMENT
7.1 Introduction
7.2 Risk Management
7.2.1 Components of risk management
7.2.1.1 Stop loss
7.2.1.2 Analyze reward risk ratio
7.2.1.3 Trail stop loss
7.2.1.4 Booking Profit
7.2.1.5 Uses of stop loss
7.2.1.6 Qualities of successful trader
7.2.1.7 Golden rules of traders
7.2.1.8 Do's and don'ts in trading
7.3 Rules to stop losing money
7.4 Choosing the right market to trade
7.4.1 Importance of discipline in trading
Programme highlights:
Practical applications on real market data. Utilise derivative strategies with technical strategies. Able to prepare technical research reports. Able to prepare daily basis reports. Create your own market forecast. Identify trends and important price patterns. Recognize patterns. Use technical indicators. Apply technical theories.
Duration of the programme:
30 Days
Programme Fee:
₹ 10000/-
Fee includes Registration fee, notes, books, software for technical analysis.
About the Program:
This is a comprehensive classroom programme on knowledge of fundamental analysis, to understand the strengths of company analysis, industry analysis, economy analysis. Fundamental analysis is a stock valuation methodology arrived at by performing security analysis. An appropriate security analysis forms the basis of successful investment decisions. This module aims at providing a basic insight about fundamental analysis and various valuation methodologies used.
Suitable for:
v Students of management and commerce
v Stock Analysts
v Finance Professionals
v Employees with financial service sector.
v Anybody having interest in this subject
Programme content:
INTRODUCTION
Types of companies
Initial Public Offer (IPO)
Efficient Market Hypothesis
Does fundamental analysis work?
BRUSHING UP THE BASICS
Concept of “Time Value of Money”
Interest Rates & Discount Factors
Opportunity cost
Risk-free Rate
Equity Risk Premium
The Beta
Risk Adjusted Return (Sharpe Ratio)
UNDERSTANDING FINANCIAL STATEMENTS
Understanding the Balance sheet
Profit & Loss Statement
Cash Flow Statement
Financial Statement Analysis and Forensic Accounting
Financial Ratios
Profitability Ratios
Leverage Ratios
Operating Ratios
Valuation Ratio
Index Valuation
Du-Pont Analysis
Cash Conversion Cycle
The Satyam case and need for forensic accounting
VALUATION METHODOLGIES
Top-Down Valuation
Economy
Industry
Company
Discounted Cash Flow (DCF) Models
Dividend Discount Model
Free Cash Flow to Firm (FCFF) and Free Cash Flow to Equity (FCFE) based DCF
Sum of the parts (SOTP)
Price / Earnings Ratio
Price / Book Value Ratio
EV/EBITDA Ratio
Price to Sales (P/S) Ratio
Special cases of valuation- IPOs, Financial Service firms, Net interest margin, Firms with negative cash flows, Acquisition valuation, Distressed companies.
Programme highlights:
Fundamental analysis can help uncover companies with valuable assets, a strong balance sheet, stable earnings, and staying power. Learner will be able to identify and predict long-term economic, demographic, technological or consumer trends. This will allows investors to develop an understanding of the key value drivers and companies within an industry. Key highlight of this program is portfolio diversification and systematic investment planning.
Duration of the programme:
30 Days
Programme Fee:
₹ 10000/-
Fee includes Registration fee, notes, books, mock tests for fundamental analysis.
About the Program:
This is a comprehensive classroom programme on knowledge of market indicators and options trading strategies, to learn about the various option strategies, to understand payoff concepts, to understand the objectives and risks of each different strategies, to know the technique of hedging. A learner will be able to pass NCFM Options Trading Strategies Module successfully.
Suitable for:
Students who are eager to acquire practical knowledge in Stock Market.
Stock Analysts, Technical Analyst
Stock brokers, Traders, Risk-Averse Investors
Finance Professionals, Portfolio Managers.
Anyone interested in Derivative Market.
Programme content:
1. INTRODUCTION TO OPTIONS
1.1 OPTION TERMINOLOGY
1.2 OPTIONS PAYOFFS
1.2.1 Payoff profile of buyer of asset: Long asset
1.2.2 Payoff profile for seller of asset: Short asset
1.2.3 Payoff profile for buyer of call options: Long call
1.2.4 Payoff profile for writer (seller) of call options: Short call
1.2.5 Payoff profile for buyer of put options: Long put
1.2.6 Payoff profile for writer (seller) of put options: Short put
STRATEGY 1 : LONG CALL
STRATEGY 2 : SHORT CALL
STRATEGY 3 : SYNTHETIC LONG CALL
STRATEGY 4 : LONG PUT
STRATEGY 5 : SHORT PUT
STRATEGY 6 : COVERED CALL
STRATEGY 7 : LONG COMBO
STRATEGY 8 : PROTECTIVE CALL
STRATEGY 9 : COVERED PUT
STRATEGY 10 : LONG STRADDLE
STRATEGY 11 : SHORT STRADDLE
STRATEGY 12 : LONG STRANGLE
STRATEGY 13. SHORT STRANGLE
STRATEGY 14. COLLAR
STRATEGY 15. BULL CALL SPREAD STRATEGY
STRATEGY 16. BULL PUT SPREAD STRATEGY
STRATEGY 17 : BEAR CALL SPREAD STRATEGY
STRATEGY 18 : BEAR PUT SPREAD STRATEGY
STRATEGY 19: LONG CALL BUTTERFLY
STRATEGY 20 : SHORT CALL BUTTERFLY
STRATEGY 21: LONG CALL CONDOR
STRATEGY 22 : SHORT CALL CONDOR
Programme highlights:
A unique professional designed program, Dynamic, highly practical & interactive training programs with real life case studies, Practical, real-world, non-academic, non-theoretical, hand-on instruction, Intensive step-by-step classroom training programs to understand derivative markets and its diversified domain, Decode financial jargon and uncover popular misconception, Explain the real story of Indian stock market. Learner will be able understand the use of derivative products in speculating, hedging and arbitraging, the trading issues relating to equity derivatives.
Duration of the programme:
30 Days
Programme Fee:
₹ 10000/-
Fee includes Registration fee, notes, books, software for Options Trading Strategies.
About the Program:
NCFM Certified Equity Research Analysis Module covers both basic investment topics as well as advanced fundamental concepts in a manner which is easy to understand for someone without a background in accounting. It includes discussions via case studies, understanding broader investment topics, outlines on how to analyse a company, evaluation of companies, comprehend the annual report, capital allocation decision, portfolio construction and rebalancing and creating a correct psychological framework that will help one traverse various cycles of markets.
Suitable for:
MBA's ( Finance) / CA's
Graduates/Post Graduates with experience in capital markets
Other working professionals, looking to move into equity research
This course is relevant for people looking to join the equity research division of a
Financial Institution,
Mutual Fund,
Research back office, or
Brokerage firm
Programme content:
INTRODUCTION
Overview: What is equity research? Goal of an equity research analyst.
Market Participants: The research providers and the research users.
Types of Research: Buy side research and Sell side research.
Role of an Analyst: How do analysts go about research?, Front end and back end research, equity research as a cost and revenue center.
Concept of Alpha: Importance of alpha in equity research.
Key Terms used in Equity Markets, Stocks Classification.
UNDERSTANDING FINANCIAL STATEMENTS
Annual Report Overview: Understanding key sections of an Annual report.
Profit & Loss Statement, Balance Sheet, Cash Flow Statement.
ANALYSIS OF THE ECONOMY
Introduction: Stages of the qualitative analysis process - EIC framework.
Economic Cycles: How valuation of a company gets affected by economic activities?
Key Economic Factors: GDP, Industrial Production, Inflation, Unemployment, Business and consumer confidence and Oil prices.
Stock Indices: Different benchmark indices across the globe, How do share prices and stock indices move? How are stock indices interlinked?
ANALYSIS OF THE INDUSTRY
Process: Identifying sub-sectors, Key revenue drivers, Key concerns.
Specific Industry Analysis: Oil & Gas, IT, Telecom, Banking and Autos.
ANALYSIS OF THE COMPANY
Process: Analysing the business, Revenue drivers, competitors, Management team.
Case Study: A detailed analysis of Shiv Vani Industries.
RATIO ANALYSIS
Profitability Ratios: Profit Margins - Gross margin, EBITDA margin, Net Profit margin.
Return Ratios: Return on Equity (ROE), Return on Common Equity (ROCE), Return on Total Capital (RTC) and Return on Assets (ROA).
Liquidity Ratios: Current ratio, Quick ratio and Cash ratio.
Activity Ratios: Account receivables turnover & Days of receivables, Inventory turnover & Days of inventory, Account payables turnover & Days of payables.
Solvency Ratios: Debt-to-Equity ratio, Interest coverage ratio and Financial leverage.
Valuation Ratios: Price to Earnings (P/E) ratio, P/E re-rating and de-rating, PEG ratio, EV/EBITDA, Price to Book Value (P/BV) ratio.
Case Study: Pantaloons vs. Titan Industries.
VALUATION
Concept: Definition and need for Valuations.
Methods: DCF, Relative Valuation.
Case Study: A detailed exercise of valuation using DCF for Titan Industries.
REPORT WRITING
Types of reports, Format, Dos and Don’ts of report writing.
Programme highlights:
This course will help you to be a better investor as well as provide participants with an understanding of how to identify, analyse the financial statements of a business and invest in companies and make better investment decisions. This programme also helps an individual to become an equity research analyst by providing complete understanding of capital market & Industry Analysis.
Duration of the programme:
45 Days
Programme Fee:
₹ 15000/-
Fee includes Registration fee, notes, books, mock tests, softwares for Equity Research.
About the programme:
This is a comprehensive classroom programme on knowledge of market indicators and options trading strategies, to learn about the various option strategies, to understand payoff concepts, to understand the objectives and risks of each different strategies, to know the technique of hedging. A learner will be able to pass NCFM Derivative Dealer Module successfully.
Suitable for:
Students who are eager to acquire practical knowledge in Stock Market.
Stock Analysts, Technical Analyst
Stock brokers, Traders, Risk-Averse Investors
Finance Professionals, Portfolio Managers.
Anyone interested in Derivative Market.
Programme content:
CHAPTER 1: INTRODUCTION TO DERIVATIVES
1.1 Types of Derivative Contracts
1.1.1 Forwards Contracts
1.1.2 Futures Contracts
1.1.3 Options Contracts
1.1.4 Swaps
1.2 History of Financial Derivatives Markets
1.3 Participants in a Derivative Market
1.4 Economic Function of the Derivative Market
CHAPTER 2: UNDERSTANDING INTEREST RATES AND STOCK INDICES
2.1 Understanding Interest rates
2.2 Understanding the Stock Index
2.3 Economic Significance of Index Movements
2.4 Index Construction Issues
2.5 Desirable Attributes of an Index
2.5.1 Impact cost
2.6 Applications of Index
2.6.1 Index derivatives
CHAPTER 3: FUTURES CONTRACTS, MECHANISM AND PRICING
3.1 Forward Contracts
3.2 Limitations of forward markets
3.3 Introduction to Futures
3.4 Distinction between Futures and Forwards Contracts
3.5 Futures Terminology
3.6 Trading Underlying vs. Trading Single Stock Futures
3.7 Futures Payoffs
3.7.1 Payoff for buyer of futures: Long futures
3.7.2 Payoff for seller of futures: Short futures
3.8 Pricing Futures
3.8.1 Pricing equity index futures
3.8.2 Pricing index futures given expected dividend amount
3.8.3 Pricing index futures given expected dividend yield
3.9 Pricing Stock Futures
3.9.1 Pricing stock futures when no dividend expected
3.9.2 Pricing stock futures when dividends are expected
CHAPTER 4: APPLICATION OF FUTURES CONTRACTS
4.1 Understanding Beta (β)
4.2 Numerical illustration of Applications of Stock Futures
4.2.1. Long security, sell futures
4.2.2 Speculation: Bullish security, buy futures
4.2.3 Speculation: Bearish security, sell futures
4.2.4 Arbitrage: Overpriced futures: buy spot, sell futures
4.2.5 Arbitrage: Underpriced futures: buy futures, sell spot
4.3 Hedging using Stock Index futures
4.3.1 By Selling Index Futures
4.3.2 By Selling Stock Futures and Buying in Spot market
CHAPTER 5: OPTIONS CONTRACTS, MECHANISM AND APPLICATIONS
5.1 Option Terminology
5.2 Comparison between Futures and Options
5.3 Options Payoffs
5.3.1 Payoff profile of buyer of asset: Long asset
5.3.2 Payoff profile for seller of asset: Short asset
5.3.3 Payoff profile for buyer of call options: Long call
5.3.4 Payoff profile for writer of call options: Short call
5.3.5 Payoff profile for buyer of put options: Long put
5.3.6 Payoff profile for writer of put options: Short put
5.4 Application of Options
5.4.1 Hedging: Have underlying buy puts
5.4.2 Speculation: Bullish security, buy calls or sell puts
5.4.3 Speculation: Bearish security, sell calls or buy puts
5.4.4 Bull spreads - Buy a call and sell another
5.4.5 Bear spreads - sell a call and buy another
CHAPTER 6: PRICING OF OPTIONS CONTRACTS AND GREEK LETTERS
6.1 Variables affecting Option Pricing
6.2 The Black Scholes Merton Model for Option Pricing (BSO)
6.3 The Greeks
6.3.1 Delta ( )
6.3.2 Gamma (Γ)
6.3.3 Theta (Θ)
6.3.4 Vega (ν)
6.3.5 Rho (ρ)
CHAPTER 7: TRADING OF DERIVATIVES CONTRACTS
7.1 Futures and Options Trading System
7.1.1 Entities in the trading system
7.1.2 Basis of trading
7.1.3 Corporate hierarchy
7.1.4 Client Broker Relationship in Derivative Segment
7.1.5 Order types and conditions
7.2 The Trader Workstation
7.2.1 The Market Watch Window
7.2.2 Inquiry window
7.2.3 Placing orders on the trading system
7.2.4 Market spread/combination order entry
7.3 Futures and Options Market Instruments
7.3.1 Contract specifications for index futures
7.3.2 Contract specification for index options
7.3.3 Contract specifications for stock futures
7.3.4 Contract specifications for stock options
7.4 Criteria for Stocks and Index Eligibility for Trading
7.4.1 Eligibility criteria of stocks
7.4.2 Eligibility criteria of indices
7.4.3 Eligibility criteria of stocks for derivatives trading on account of corporate restructuring
7.5 Charges
CHAPTER 8: CLEARING AND SETTLEMENT
8.1 Clearing Entities
8.1.1 Clearing Members
8.1.2 Clearing Banks
8.2 Clearing Mechanism
8.3 Settlement Procedure
8.3.1 Settlement of Futures Contracts
8.3.2 Settlement of options contracts
8.4 Risk Management
8.4.1 NSCCL-SPAN
8.4.2 Types of margins
8.5 Margining System
8.5.1 SPAN approach of computing initial margins
8.5.2 Mechanics of SPAN
8.5.3 Overall portfolio margin requirement
8.5.4 Cross Margining
CHAPTER 9: REGULATORY FRAMEWORK
9.1 Securities Contracts (Regulation) Act, 1956
9.2 Securities and Exchange Board of India Act, 1992
9.3 Regulation for Derivatives Trading
9.3.1 Forms of collateral's acceptable at NSCCL
9.3.2 Requirements to become F&O segment member
9.3.3 Requirements to become authorized / approved user
9.3.4 Position limits
9.3.5 Reporting of client margin
9.4 Adjustments for Corporate Actions
CHAPTER 10: ACCOUNTING FOR DERIVATIVES
10.1 Accounting for futures
10.2 Accounting for options
10.3 Taxation of Derivative Transaction in Securities
10.3.1 Taxation of Profit/Loss on derivative transaction in securities
10.3.2 Securities transaction tax on derivatives transactions
Programme highlights:
A unique professional designed program, Dynamic, highly practical & interactive training program. Practical, real-world, non-academic, non-theoretical, hand-on instruction. Intensive step-by-step classroom training programs to understand derivative markets and its diversified domain, Decode financial jargon and uncover popular misconception. Learner will be able understand the use of derivative products in speculating, hedging and arbitraging, the trading, clearing, settlement and risk management in equity derivatives, the regulatory, accounting and taxation issues relating to equity derivatives.
Duration of the programme:
45 Days
Programme Fee:
₹ 12000/-
Fee includes Registration fee, notes, books, software, mock tests for Derivative Dealer module.
About the Program:
The examination seeks to create a common minimum knowledge benchmark for persons working in the Currency Derivatives market segment, in order to enable a better understanding of currency markets and exchange traded currency future products, better quality investor service, operational process efficiency and risk controls.
Suitable for:
The following persons can take NISM-Series-I: Currency Derivatives Certification Examination:
All approved users and sales personnel of trading members of currency derivatives segments of recognized stock exchanges
Interested students/professionals
Any other individuals
Programme Content:
I. Introduction to Currency Markets
A. History of foreign exchange markets B. Major currency pairs C. Overview of international currency markets D. Basics and Peculiarities of currency markets in India E. Settlement or value date F. Over-the-Counter (OTC) forward market G. Exchange rate arithmetic- cross rate H. Impact of market economics on currency prices I. Economic indicators II. Foreign Exchange Derivatives
A. Evolution of derivatives B. Derivative products and features C. Growth drivers of derivatives D. Market players in the foreign exchange market E. Key economic functions of derivatives F. Exchange-Traded Vs. OTC derivatives III. Exchange Traded Currency Futures
A. Currency futures B. Spot price C. Futures price D. Contract cycle E. Value date/Final settlement date F. Expiry date G. Contract size H. Initial margin I. Marking-to-market J. Rationale behind currency futures K. Standard items in a futures contract L. Introduction of currency futures in India M. Futures and forward contracts N. Advantages of futures contracts O. Limitations of futures contracts P. Interest rate parity and pricing of currency futures IV. Strategies Using Currency Futures
A. Role of speculation in futures markets B. Long position in futures C. Short position in futures D. Hedging using currency futures E. Types of hedgers F. Size of the hedging position G. Trading spreads using currency futures H. Concept of arbitrage I. Use of arbitrage in currency futures markets J. Arbitrage opportunities under various conditions V. Trading in Currency Futures
A. Contract specification for currency futures B. Trading parameters C. Tenors of futures contract D. Expiry date E. Settlement price F. Entities in the trading system G. Types of orders H. Concept of Mark-to-Market (MTM) I. Position limits J. Allowable open position limits for members trading in currency futures K. Monitoring and enforcement of position limits in the currency futures market L. Surveillance systems and procedures of exchanges VI. Clearing, Settlement and Risk Management in Currency Futures
A. Clearing entities B. Clearing mechanism C. Open positions and obligations of clearing members D. Settlement mechanism • MTM settlement • Final settlement E. Risk management measures F. Concept of margin requirements G. Initial margin H. Portfolio based margin I. Calendar spread margin J. Extreme loss margin K. Liquid net worth L. Liquid assets M. Real time computation N. Process of margin collection by Clearing Corporations VII. Exchange Traded Currency Options
A. Options B. Call and put option C. Bought and sold option D. Option premium E. Futures and options F. European vs. American option G. Moneyness of an option H. Option pricing and option Greeks I. Option pricing methodology • Black-Scholes model • Binomial pricing model J. Option pay offs K. Option strategies L. Practical application of currency options M. Clearing, settlement and risk management for currency options • Initial margin • Extreme loss margin • Net option value • Calendar margin VIII. Accounting and Taxation
A. Accounting treatment for derivative contracts B. Taxation of derivative transaction in securities C. Tax treatment of profit/loss on derivative transaction in securities IX. Regulatory Framework for Currency Derivatives
A. Features of Securities Contracts (Regulation) Act, 1956 [SC(R)A] B. Features of Securities and Exchange Board of India Act, 1992 C. Recommendations of the RBI-SEBI Standing Technical Committee on Exchange Traded Currency and Interest Rate Derivatives D. Provisions of Foreign Exchange Management Act, 1999 E. Salient features of RBI notification ‘Currency Futures (Reserve Bank) Directions, 2008 F. Salient features of RBI Circular, ‘Guidelines on trading of Currency Futures in Recognised Stock / New Exchanges’ G. Salient features of SEBI Regulations for Currency Derivatives Exchanges H. Regulatory framework for clearing corporations I. Governing Council of the Exchange and Clearing Corporation J. Eligibility criteria for membership of currency derivatives exchanges X. Codes of Conduct and Investor Protection Measures
A. Features of SEBI Codes of Conduct for brokers
B. Features of SEBI Codes of Conduct for sub-Brokers
C. Features of Codes of Conduct specific to Exchange Traded Currency Derivatives Segment
D. Grievance redressal mechanism for investors
E. Nature of complaints considered by exchanges
F. Arbitration mechanism at exchanges
Programme Highlights:
On successful completion of the module the candidate will know the basics of currency markets and specifically Exchange Traded Currency Derivatives markets. This is the addtion to understand the trading, clearing and settlement mechanisms related to Currency Derivatives markets and basic investment strategies that use currency futures and options products. one will also know the regulatory environment in which the Currency Derivatives markets operate in India.
Duration of Programme:
30 Days.
Programme Fee:
₹ 10000/- Fee includes Registration fee, notes, books, software, mock tests for Currency Derivatives module.
CHAPTER 1: CONCEPT AND ROLE OF A MUTUAL FUND
1.1 Introduction
1.2 Types of Funds
1.3 Key Developments over the Years
CHAPTER 2: FUND STRUCTURE AND CONSTITUENTS
2.1 Legal Structure of Mutual Funds in India.
2.2 Key Constituents of a Mutual Fund.
2.3 Other Service Providers.
CHAPTER 3: LEGAL AND REGULATORY ENVIRONMENT
3.1 Role of Regulators in India
3.2 Investment Restrictions for Schemes .
3.3 Investors’ Rights & Obligations.
3.4 Can a Mutual Fund Scheme go bust?
3.5 Appendix 1: AMFI Code of Ethics.
3.6 Appendix 2: AMFI’s Code of Conduct for Intermediaries of Mutual Funds.
CHAPTER 4: OFFER DOCUMENT
4.1 Offer Document – NFO, SID, SAI
4.2 Key Information Memorandum
4.3 Appendix 3: Format of Scheme Information Document (SID).
4.4 Appendix 4: Key Information Memorandum
CHAPTER 5: FUND DISTRIBUTION AND CHANNEL MANAGEMENT PRACTICES
5.1 Distribution Channels
5.2 Channel Management Practices
CHAPTER 6: ACCOUNTING, VALUATION AND TAXATION
6.1 Accounting and Expenses
6.2 Valuation
6.3 Taxation.
CHAPTER 7: INVESTOR SERVICES
7.1 Mutual Fund Investors
7.2 KYC Requirements for Mutual Fund Investors
7.3 PAN Requirements and Micro-SIPs.
7.4 Additional Documentation Requirements applicable for Institutional Investors
7.5 Demat Account
7.6 Transactions with Mutual Funds.
7.7 Transactions through the Stock Exchange
7.8 Investment Plans and Services.
7.9 Appendix 5: KYC Form for Individuals
7.10 Appendix 6: KYC Form for Non-individuals.
7.11 Appendix 7: KYC Change Form for Individuals
CHAPTER 8: RETURN, RISK& PERFORMANCE OF FUNDS
8.1 Drivers of Returns in a Scheme
8.2 Measures of Returns.
8.3 Drivers of Risk in a Scheme
8.4 Measures of Risk
8.5 Benchmarks and Performance.
8.6 Quantitative Measures of Fund Manager Performance
CHAPTER 9: SCHEME SELECTION
9.1 How to choose between Scheme Categories?.
9.2 How to select a Scheme within a Scheme Category?
9.3 Which is the Better Option within a Scheme?
9.4 Sources of Data to track Mutual Fund Performance
CHAPTER 10: SELECTING THE RIGHT INVESTMENT PRODUCTS FOR INVESTORS
10.1 Financial and Physical Assets
10.2 Gold – Physical or Financial?
10.3 Real Estate – Physical or Financial?
10.4 Fixed Deposit or Debt Scheme.
10.5 National Pension System (NPS).
10.6 Other Financial Products.
CHAPTER 11: HELPING INVESTORS WITH FINANCIAL PLANNING
11.1 Introduction to Financial Planning
11.2 Alternate Financial Planning Approaches.
11.3 Life Cycle and Wealth Cycle in Financial Planning
CHAPTER 12: RECOMMENDING MODEL PORTFOLIOS AND FINANCIAL PLANS
12.1 Risk Profiling.
12.2 Asset Allocation.
12.3 Model Portfolios.
