ACF Academy
Operations and IT Training Training
Category:
 Operations and IT Training
Targeted Audience:
 The program will benefit middle office and operations personnel, and will also be invaluable for people working outside of securities operations including internal, legal and compliance personnel, financial controllers, IT, HR and junior trading and sales.
Prerequisites:
 None
CPE Credits:
 7 hours
Course Level:
 Foundation
 

Mastering Risk Management

The principal objectives of this one-day seminar are to:
 
  Show that securities borrowing and lending is a vitally important element in the working of the international securities markets and yet the basics concepts of the functions remain widely misunderstood.
  Provide a comprehensive overview of ‘Securities Financing’ and explain who is involved in repo, lending and borrowing securities and why.
  Use actual case studies to explain the economics of lending and borrowing.
  Explore the risks and controls of the business.
  De-mystify securities borrowing and lending to those not directly involved.

 
Course Outline
   
 An Introduction to Securities Borrowing and Lending
   
What is securities and lending and borrowing
Who are the market participants?
Legal documentation
The lenders; institutions, global custodians, the CSDs
The role of the Prime Broker
Automatic borrowing and fails coverage programmes
Who should lend and who should borrow
The economics of borrowing and lending
The basic transaction-a trade flow diagram
Repos versus securities borrowing and lending
Borrowing strategies
Short coverage
Managing fails with securities borrowing
Financing positions
Collateral and collateral management
Dividend arbitrage
Are there any risks
Securities Borrowing Case
   

 

NB All practical sessions are highlighted like this:
means a Workshop or Simulation
means a Case study

 

 
Accreditation


 

"Very interesting, practical and original way to understand concepts by using simulations."

– Rafael I.