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Certified Derivatives Trader 2019 Certificate Program Capital Markets Academy
Certified Derivatives Trader 2019Certificate Program
Capital Markets Academy
Certified Derivatives Trader 2019
Certified Derivatives Trader
One programme – qualification for two markets
Additional appropriate qualification, e.g. exams provided by the Chartered Institute for Securities & Investment (CISI): Regulation and Ethics
Investment Principles and Risk / Personal Taxation
Qualified to advise UK retail customers ("Dealing and Advising on Derivatives")
Qualified for trading at Eurex Exchanges
Course structure
Prior knowledgeParticipants should have basic knowledge of optionsand futures, which can be obtained through our “Introduction course options and futures”.
Target group The certificate programme is suitable for new em-ployees of financial service providers and as well asuniversity students and retail investors with soundbasic knowledge of options and futures. It is alsoaimed at lawyers and consultants working as advisorson exchange-related topics.
FCA accreditationThe programme is recognised by the UK FinancialConduct Authority (FCA). Participants who have successfully passed the Certified Derivatives Dealerexam may complete additional exams to qualify as Retail Investment Advisers in the UK (see diagram).
The use of financial derivatives, be it for trading or hedging, requires well-founded knowledge. This training course provides comprehensive infor-mation about the function of options and futures.After a brief refresher on the theoretical basics, youwill learn how to use different futures and optionsstrategies through case studies. This will enable youto analyse and evaluate derivatives in order to applyyour market assessment to derive hedging, tradingand arbitrage strategies in a portfolio context.
In addition, the course manual provides in-depth information on the Eurex market model and summa-rises the sections of the Eurex rules and regulationsrelevant to the exam. You will also have access to the Eurex online system training and thus becomefamiliar with the trading system.
Admission as an exchange trader at Eurex DeutschlandParticipation in the course, together with the com-pleted Eurex online system training and passing of the final exam, certify professional suitability for ad-mission as an exchange trader at Eurex Deutschland.
Certified Derivatives Trader 2019
Organisation
DurationThe course duration is five days, from 9:30 to approx.17:00 CET plus one exam day. The exam is scheduled from 14:00 to 17:00 CET, respectively.
Eschborn (course held in German)18–22 March 2019 (course), 25 April 2019 (exam)Early booking discount for registration until 4 February 2019
2–6 September 2019 (course), 29 October 2019 (exam)Early booking discount for registration until 22 July 2019
Zug (course held in English)13–17 May 2019 (course), 4 June 2019 (exam)Early booking discount for registration until 1 April 2019
London (course held in English)11–15 November 2019 (course), 17 December 2019 (exam)Early booking discount for registration until 7 October 2019
LocationsDeutsche Börse AGMergenthalerallee 6165760 EschbornGermany
Deutsche Börse AGWestferry House, 11 Westferry CircusLondon E14 4HE, United Kingdom
FeesPrice for early booking:2,880€ plus VAT (3,427.20€ incl. VAT) Regular price:3,200€ plus VAT (3,808.00€ incl. VAT)
If two or more participants register, you will receive a 10 per cent discount per participant. Full-time students receive a 25 per cent discount; part-time students receive a 10 per cent discount (submission of a current certificateof enrolment required). Multiple discounts may be com-bined in a single booking.
Participants who wish to repeat an exam are charged a feeof 200€ plus VAT (238€ incl. VAT).
ContactPhone +49-(0)[email protected]
academy.deutsche-boerse.com/cdt
Certified Financial EngineerThe passing of the final exam is accepted by the European Institute of Financial Engineering and Derivatives (EIFD) as module 1 of the Certified Financial Engineer qualification programme.
ExamThe exam is conducted electronically. Participantshave three hours to answer 150 multiple choice questions. The conditions for participation, includingdetailed information on the exam, are available on our website. To prepare for the exam, participantsare provided with a comprehensive manual and a catalogue with sample exam questions at the beginning of the course.
Tutors Walter Braegger or Vincent Couson Nosco Partners AG(Courses in Eschborn, Germany, and Zug, Switzerland)
Paul North Trainer in Derivatives and Capital Markets(Course in London, UK)
Stefan Toetzke GammaVega(Courses in Eschborn, Germany; Zug, Switzerland,and London, UK)
Eurex Global Derivatives AGTheilerstrasse 1a6300 ZugSwitzerland
Agenda
Certificate Program Certified Derivatives Trader 2019
Certified Derivatives Trader 2019
Published byDeutsche Börse AG60485 Frankfurt /MainGermanywww.deutsche-boerse.com
December 2018Order number 1900-4812
Eurex® is a registered trademark of Deutsche Börse AG.
Monday
Cash markets as underlying� Money market� Bond market� Equity market� Foreign exchange (FX) market� Commodity market
Portfolio management� Portfolio theory� Portfolio risk (volatility / correlation)� Portfolio management� Strategic vs. tactical asset allocation� Risk mass and distributions
Wednesday
Regulatory framework � Financial regulation in Europe (i.e. EMIR)� Market Abuse Directive/ Market Abuse Regulation (MAD/MAR)� MiFID II /MiFIR� Regulation in the UK and USA
Clearing� Interrelations between trading, clearing and settlement� Central Counterparty – CCP� Clearing system� Security deposits – margin� Overview of clearing houses in derivatives trading
Options� Options fundamentals� Basic options positions� Eurex options� Risik-reward profiles of the basic positions
Relationships� Put/call parity� Synthetic positions
Thursday
Sequel options
Relationships � Conversion and reversal arbitrage� Hedging techniques (fixed hedging, delta and gamma hedging)
Pricing model � Time value and intrinsic value� Insurance value and interest value� Differenty types of volatility and their importance� Maximum pain and pin risk
Key figures � Sensitivity indicators (“Greeks”)� Option pricing models� Developing trading strategies
Friday
Sequel options
Directional strategies � Bull spreads call /put� Bear spreads call /put
Volatility strategies � Straddle� Strangle� Butterfly� Condor� Time spreads
Hedge ratios � Correlation� Beta� Limitations of correlation and beta� Delta hedge� Gamma hedge� Index values vs. futures values in hedge ratios
Tuesday
Basics of derivatives � Derivatives and their usage� Value driver of derivatives� OTC and exchange-trading� Arbitrage strategies� Credit risks
Forwards and futures� Forward contracts� Forward Rate Agreements (FRAs)� Pricing of FRAs� Basics of futures� Money market futures� Fixed income futures� Equity index futures� Futures spread trading
Swaps� Swaps and their usage� Pricing of swaps� Interest rate swaps
Registration
Deutsche Börse AGCapital Markets Academy60485 Frankfurt am Main
Fax +49-(0) 69-211-13763
Personal details
Home address
Business address
Billing address
Professional experience
Course details / dates
Terms and conditions
Registration “Certificate Program Certified Derivatives Trader 2019”
I hereby expressly confirm that I have correctly entered my details into the application for the program “Certified Derivates Trader”. I have read the terms and conditions and accept them as part of the contract.
I would like to receive information about the training courses offered by the Capital Markets Academy of Deutsche Börse AG via e-mail. I may revoke my consent to this at any time.
We process your personal data in accordance with our General Data Protection Regulation (academy.deutsche-boerse.com/privacy-notice).
Place and date of birth
Postcode, town
Postcode, town
Company address
Thereof years in the financial sector:
2–6 September 2019 (Eschborn, course held in German) 11–15 November 2019 (London, course held in English)
Name, first name
Street / P.O. box
Phone, fax
Employer
Street / P.O. box
Phone, fax
Home address
Years at the start of the certificate programme:
18–22 March 2019 (Eschborn, course held in German) 13–17 May 2019 (Zug, course held in English)
Male Female
Place, date
In addition, if costs are borne by employer
Stamp, signature applicant
Stamp, signature employer
Terms and conditions
General Terms and Conditions of Deutsche Börse AG relating to participation in fee-based face-to-face training courses and fee-based and free web-based training
1. Subject matter of contractThese General Terms and Conditions govern the performance of fee-based face-to-face training coursesand exams (fee-based face-to-face training courses and exams (hereinafter referred to jointly as “face-to-face training courses”) and fee-based and free web-based training (hereinafter referred to as “WBT”)(face-to-face training courses and WBT hereinafter referred to jointly as “training courses”) by DeutscheBörse AG. The contractual services and the terms of participation for each training course are specifiedin the applicable catalogue (available as a hardcopy or for downloading, on the internet for fee-basedface-to-face training courses at academy.deutsche-boerse.com).
2. Registration; formation of contractA contract with respect to participation in one of the training courses specified is entered into by the customer by completing and sending the registration form, either by e-mail, fax or in writing,and the forwarding of a confirmation of registration, or a confirmation of the order placed by Deutsche Börse AG.
3. Training services3.1 The nature and scope of the training services are outlined in the service descriptions containedin the catalogue in accordance with Clause 1; the course contents may be subject to modificationswithout notice, if and insofar as the participant can be reasonably expected to accept such modifications.3.2 In the case of face-to-face training courses, however, Deutsche Börse AG always reserves the rightto move the venue and/or time of training events or to replace the announced instructor/course leaderby another person. Deutsche Börse AG shall notify the participant of any relocation, change in time,cancellation or replacement.3.3 Deutsche Börse AG shall conduct the face-to-face training courses described in detail in the catalogueeither on its own premises, on the premises of the participant or at external venues (e.g. conferencecentres). The venue and time of face-to-face training courses will be specified in the confirmation of registration.3.4 Deutsche Börse AG shall make WBTs available online using an access code for the period of timespecified in the catalogue (hereinafter referred to as “access period”), starting from the day of registration.The participants shall define the access code themselves during the registration process. The accesscode must not be disclosed to third parties. After the access period ends, Deutsche Börse AG has the right to delete the WBT and/or to cancel the participant’s access code.
4. Prices, price changes, terms of payment4.1 The participation fee for each face-to-face training course shall include participation, comprehensivetraining documentation and refreshments. The participant shall bear all other costs, in particular travel,subsistence and hotel expenses.4.2 Participation in a WBT solely includes online access to the training course in question.4.3 The training fees specified in the latest catalogue on the date of ordering shall apply; value-addedtax shall be payable on top of them.4.4 The fees for face-to-face training courses shall be invoiced to the participant before the course in question commences. These fees shall be payable without deduction as soon as the invoice is received. If Deutsche Börse AG has no record of payment being received prior to commencement of the face-to-face training course, Deutsche Börse AG may refuse the participant’s participation in the course in question.4.5 The training fees for fee-based WBTs shall be invoiced to the participant following registration.These fees shall be payable without deduction as soon as the invoice is received.4.6 No refunds will be made for services not accepted in their entirety.4.7 Subject to the foregoing, Deutsche Börse AG and the respective author do not warrant thatthe training documentation is up-to-date, correct and complete and shall not assume any liability for its not being so.
5. CopyrightsTraining documentation and contents of a WBT may not be duplicated, processed, amended, circulatedor published in any other way without the written consent of Deutsche Börse AG.
6. Liability6.1 Liability on the part of Deutsche Börse AG for breaches of duty through slight negligence shall beexcluded, unless they relate to damage due to injury to life, body or health or warranties or otherclaims that cannot be contracted away are affected, in particular claims under or in accordance withsection 288 (6) sentence 1 of the German Civil Code (BGB); Deutsche Börse AG shall be liable forsuch damage in accordance with the statutory provisions. Liability on the part of Deutsche Börse AGfor a breach of duties that jeopardises the achievement of the purpose of the contract and of dutieswhose fulfilment is a prerequisite for enabling the proper fulfilment of the contract in the first placeand on the fulfilment of which the participant may regularly rely (“cardinal obligations”) shall also remain unaffected. In such cases, Deutsche Börse AG shall only be liable vis-à-vis participants for anytypical and foreseeable damage or loss. To the extent that Deutsche Börse AG is under an obligationto compensate for unavailing expenditure, the foregoing shall apply mutatis mutandis.6.2 If liability is excluded in accordance with Clause 6.1 above, that shall also apply to the personalliability of agents of Deutsche Börse AG.6.3 Deutsche Börse AG shall not be liable for any damage to or the destruction or loss of participants’property in connection with the performance of the face-to-face training course, unless such damage,destruction or loss has been caused by gross negligence or intent on the part of Deutsche Börse AG.6.4 The right to raise the objection of contributory negligence pursuant to section 254 of the GermanCivil Code (BGB) shall remain unaffected.
7. Rescission, substitute participants, changes in bookings7.1 Deutsche Börse AG is entitled to rescind the contract relating to performance of a face-to-facetraining course if there is an insufficient number of participants enrolled in the course by 14 days before the date the course commences. A number of less than ten participants shall be deemed to beinsufficient. However, Deutsche Börse AG may, at its discretion, opt on a case-by-case basis to proceedwith any face-to-face training course having a lower number of participants. Where participants havealready paid training fees to Deutsche Börse AG, said fees shall be refunded in full. Any further claimsof participants are excluded.
7.2 Participants may cancel their participation in any such face-to-face training course and rescindthe contract in writing, by fax, by e-mail or online at academy.deutsche-boerse.com (60485 Frankfurt /Main, Germany, Fax +49-69 211-1 37 63, e-mail: [email protected]) no less thanthree weeks prior to the commencement of said face-to-face training course. In such cases, DeutscheBörse AG will charge a fee of €50 to cover its expenses; this fee will be offset from the training fee to be refunded. Any training fees already paid above and beyond said fee shall be refunded. Participantshave the right to prove that the actual expenses or damage incurred by Deutsche Börse AG are in factlower. Any further claims of participants are excluded.7.3 Should participants be unable to participate in the face-to-face training course, they may nominatea substitute participant free of charge. In such cases, the cancellation of the contract entered into withthe initial participant will be effected after conclusion of a contract with the substitute participant, andthen only with the proviso that the contract between Deutsche Börse AG and the substitute participanton participation in the respective face-to-face training course will be validly concluded no later thanthree weeks prior to commencement of the face-to-face training course.7.4 Moreover, if participants are unable to participate in the face-to-face training course date booked,they may – alternatively to the procedure specified in Clause 7.3 – change their booking to anotherdate for the same face-to-face training course up to three weeks prior to the commencement of thebooked face-to-face training course. In such cases, the relevant participant will be charged a processingfee of €50. A change of booking within a period of less than three weeks is not possible.7.5 Where participation has not been cancelled within the time limit pursuant to Clause 7.2., wherethe contract between Deutsche Börse AG and a substitute participant has not been concluded withinthe time limit pursuant to Clause 7.3 (provided the contract has been concluded late or has not beenconcluded at all for reasons for which Deutsche Börse is responsible) or in the event of non-participationin a face-to-face training course, the full training fee shall be payable or the training fee already paidshall not be refunded, whichever may apply.7.6 A WBT on which the participant has already started working cannot be cancelled.7.7 If the training fees are not paid on time, Deutsche Börse AG reserves the right to refuse the partici-pant’s participation in face-to-face training courses, block access to WTBs and/or withhold confirmationsof participation until all claims resulting from registration for the training have been settled.
8. Data protectionPlease see our Privacy Policy (academy.deutsche-boerse.com/privacy-notice).
9. Right of revocationParticipants are entitled to revoke the contract pursuant to section 312 b and section 312 d of the German Civil Code in conjunction with section 355 of the German Civil Code, provided thatthey are consumers (section 13 of the German Civil Code), i.e. conclusion of the contract cannotbe ascribed to their commercial or freelance professional activity. This right shall apply for a periodof two weeks. The two-week revocation period shall commence one day after the participant sendsthe registration form. No reasons for the revocation need to be given. It shall be sufficient to submitthe declaration of revocation either in writing or on a permanent data carrier to Deutsche Börse AG,Capital Markets Academy, 60485 Frankfurt /Main, Germany.
10. Settlement of disputesDeutsche Börse AG is not obliged to participate in settlement of disputes before a consumer arbitrationboard according to the German Settlement of Consumer Disputes Act [VSBG] and also does not offerparticipation in such action.
11. Governing law and legal venue11.1 All legal relationships based on these General Terms and Conditions shall be subject to the lawsof the Federal Republic of Germany to the exclusion of the UN Sales Convention.11.2 If the contractual relationship is not formed with a consumer and the choice of legal venue is otherwise permitted under the law, legal venue for all disputes arising from the contractual relationship shall be Frankfurt/Main, Germany. The statutory regulation shall otherwise apply.
12. Written formThe parties agree that any amendments to the terms and conditions shall be made in writing only.This shall also apply to the stipulation in this Clause 12 of the General Terms and Conditions, requiring written form.
Capital Markets Academy
