Training
It is important that any potential investor understand the main features of the product offered or the main risks involved. Together with House of Training, LUXSIPA offers a training, which allows anyone to get deep knowledge in all the aspects of structured products.
The objective of the training is to cover all questions that could be raised while manufacturing, selling, handling or investing into structured products. This training is open to everyone but is particularly dedicated to all professionals of the financial sector as well as consultants, lawyers, administration officers.
This training program will be honored by a House of Training / LUXSIPA Certification under two conditions: The whole set of modules must be accomplished, and a final exam must be passed.
MODULE 1 - General Aspects about structured products (SP)
DURATION 0.5 day
This module should give a bright overview of the world of structured products:
- General definition
- History of options – what makes it possible to build SPHow do we situate SP compared to vanilla assets; investment rationale
- Who intervenes in the set-up: issuer, investor, structuer, traders …
- The cash flows of a very simple product: from a bond which pays coupons, to a 100% capital guaranteed SP which is linked to the positive performance of an index (not entering in any details about interest rates, options)
- Some vocabulary (protection, callable, autocallable …)
- Overview about the risks embedded in a SP (issuer, liquidity, valuation, underlying, valuation parameters …)
- Legal wrapper: EMTN, certificate, fund, deposit
- Review of basics about options: 4 pay-offs, from Long Call to Short Put, right and obligation
- First steps to situate the impact of volatility, interest rates, dividends, spot (trying to get a feeling for the basic Greeks)
- Capital protection: zero + call: first steps to build the product, theoretical example
- Capital at risk: reverse convertible + autocall structure: idem
TARGET AUDIENCE
- Junior and Senior Private bankers
- Private Banking Assistants
- Structurers
- Risk Management
- Legal & Compliance Officers
- Marketing specialists
- SP administration specialists
MODULE 2 – technical aspects to build a SP
DURATION 1 day
All about the building blocks of a product:
- Yield curve, credit spreads & funding, CDS
- Options, vanilla and exotics
- Volatility
- Correlation
- Specificities of underlying assets
- Dividends & implicit forwards
- Why are high dividends the best pick for long call and short put?
TARGET AUDIENCE
- Junior and Senior Private bankers
- Private Banking Assistants
- Structurers
- Risk Management
- Legal & Compliance Officers
- Marketing specialists
- SP administration specialists
MODULE 3 – Products
DURATION 1 day
Analyse termsheets and discover the building blocks of the products. Training to better understand the products and to get a feeling how they might perform during their lifecycle.
TARGET AUDIENCE
- Junior and Senior Private bankers
- Private Banking Assistants
- Structurers
- Risk Management
- Legal & Compliance Officers
- Marketing specialists
- SP administration specialists
MODULE 4 - Administration, legal and regulatory aspects
DURATION 0.5 day
- The legal wrapper: EMTN: base prospectus + final terms, certificate, fund prospectus, deposit
- MIFID – Target Market, Distribution channels (advisory, execution only, DPM), Cost and charges
- PRIIPS Directive – KID
- Double valuation (for funds for instance)
TARGET AUDIENCE
- Legal & Compliance Officers
- SP administration
- specialists
- Risk Management
House of Training (www.houseoftraining.lu)
