Programme Overview Credit derivatives allow one party to transfer an asset's credit risk to another party without transferring ownership of the underlying asset. This tutorial outlines the basics of credit derivatives and examines the structure of a basic credit derivatives trade, known as a credit default swap (CDS). Other topics covered include the development of the market pre- and post-financial crisis, and the risks associated with undertaking credit derivatives transactions. Programme Objective On completion of this tutorial, you will be able to: Recognize credit as a separate asset class that can be traded Identify the basic structure of a credit derivative (credit default swap) Recall the evolution and development of the credit derivatives market
Credit derivatives allow one party to transfer an asset's credit risk to another party without transferring ownership of the underlying asset. This tutorial outlines the basics of credit derivatives and examines the structure of a basic credit derivatives trade, known as a credit default swap (CDS). Other topics covered include the development of the market pre- and post-financial crisis, and the risks associated with undertaking credit derivatives transactions.
Topic 1: Credit as an Asset Class Credit Risk & Bonds Credit Risk & Spreads Credit Spreads & Asset Swaps Credit as an Asset Class Topic 2: Credit Derivative Structures What is a Credit Derivative? Credit Default Swaps (CDS) Credit Default Swaps Premiums & Spreads Payments & Settlement Compensation Payment Reference (Deliverable) Obligations Single & Multi-Name Default Swaps Protection Period Credit Events Topic 3: Market Development Credit Derivatives Pre- & Post-Crisis Market Players Notional Values & Market Size Trade Compression Central ClearingNetting Prerequisites Derivatives – Markets Training Methodology E-Learning 24/7Estimated Completion Time75 minutesNo cancellation or change in programme enrolment once the enrolment is successful.
Topic 1: Credit as an Asset Class
Topic 2: Credit Derivative Structures
Topic 3: Market Development
Derivatives – Markets
Foundation Level
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