OBJECTIVES
To provide knowledge about the functioning of derivatives markets, the features of various products, the classification of products, the regulatory framework and the margining mechanism.
PROGRAMME CONTENTSNature of financial derivatives including futures and options
Characteristics of derivatives, Underlying assets (Equity, Bonds/Loans, Foreign Currency, and Commodity) Need for derivatives, Types of derivatives and comparison between them, Forwards/ Futures/ Options, Participants in the derivatives market (Hedgers, Speculators, Arbitrageurs)
Principles of trading and hedging with Index Futures
Terminology - Spot, future price, contract specifications, contract cycle, expiry date, settlement date, basis, mark to market, Contract specification for BSE Sensex, Tick size, Types of orders, Trading strategies, Hedging Strategies, Initial, Maintenance Margins, Executing and Clearing, Execution, Matching confirmation, Clearing Mechanism, Settlement, Settlement price, Settlement cycle, Cash v/s Physical delivery, "Open interest" and "Trading volumes"
Principles of trading and hedging with Options
Terminology - call, put, writer, buyer, premium, intrinsic value, time value, expiry date, settlement date, strike price, ATM, OTM & ITM, The Greeks - (Delta, Gamma, Theta, Vega)
Risk Management Systems and Procedures
Types of risks (Counter-party or credit risks, Market or price risks, Liquidity risks, Legal and regulatory risks, Operating risks), Risk identification and measurement, Methods of risk control (Position limits, VAR, Margins, Operating Procedures and systems etc.), Separation of trading, settlement, accounting and risk control functions, Internal control structure and Management Information System, Regulatory and external reporting.
Participants attending the entire course shall be eligible to receive Participation Certificate from the BSE Training Institute.
TARGET AUDIENCE
Derivatives Dealers, Stock Brokers, High Net Worth Investors, Custodians, Mutual Funds, Portfolio Managers, Insurance Companies, Banks, Financial Institutions and Management Students
DURATION & TIMINGS
2 days
9.30 am to 5.30 pm
FEES
Rs. 3,850.00 + 12.36% (Service Tax + Education Cess) per participant, inclusive of course material and tuition fees.
EXAMINATION PLANS & CERTIFICATION Securities and Exchange Board of India (SEBI) has made it mandatory for all brokers/dealers and sales persons desirous of trading in the derivatives market to get themselves certified from an institution approved by SEBI. BSE Certification on Derivatives Exchange (BCDE) is a SEBI approved, on-line testing process for this purpose.
The passing of the examination shall entitle the candidates to receive BSE Certification on Derivatives Exchange. The examination shall be of 100 marks consisting of 100 questions. Questions would be of objective type, with multiple choices.Negative marks would be given for wrong answers. BCDE shall be awarded to only those participants who obtain a minimum of 60% marks.There is no minimum eligibility criterion for taking the examination.The examination fee is Rs.843.00 per participant per attempt.Persons interested in taking the examination at Mumbai should approach BTI with 4 passport-size photographs and a Demand Draft of Rs. 843.00 in favor of Bombay Stock Exchange Ltd., payable at Mumbai . Persons interested in taking the examination at the following centers should approach the desired centre with 4 passport-size colour photographs and a Demand Draft of Rs.843.00 in favor of Bombay Stock Exchange Ltd., payable at Mumbai.
Click here to the list of ZedCA centres
PROGRAMME COORDINATOR
Sanjay Ved
For further details regarding registration, contact: E-mail: training@bseindia.com Phone: 22721126 / 27, 22721233 / 34, Ext: 8246, 8464, 8303, 8062, 8862, 8121, 8859
Examination Registration Form (BCDE)
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