Fundamentals of financial markets
Cash instruments, derivatives and associated risks
- Understand the role of financial markets in the economy and the functioning of cash products
- Master the mechanics of derivatives and options
- Address the definition of measurement and management" of the various risks : equity, interest rate and exchange
What is the role of markets?
- The functions of financial markets
- The cash and derivatives markets: equity, fixed income, foreign exchange, credit
Actors in the financial market
- Motivations and inte-relations: State, companies, individuals, banks, asset management companies ...
- Roles and activities of investment banks
Case Study: Construction of a simplified bank balance sheet
- Regulatory organizations in France: AMF, ACP, ECB
Cash products: how does it work?
- Equity
- Money Market products and Bonds
Case Study: Why do bond prices fall when rates rise?
- Foreign exchange Products
What is a firm derivative?
- Forwards and Futures: principles and applications by market
- Forward exchange
Case Study: Excel Calculation of a hedge by Futures / forward exchange
- The world of Swaps
- IR Swaps: mechanism, examples of use
Case Study: How to make a fixed rate loan?
Optional derivatives
- Underlying Equity
- Stock options: Call / Put
- Settings and price sensitivities: measuring risk
- Usage: hedging / leverage
- Underlying Rate / Change
- Adaptation to the world of interest rate and foreign exchange
- What strategies for hedging or risk-taking?
- Underlying credit
- What is a CDS?
- Uses and risks
Case Study: Analyze optional strategies
Sources of risk
- Foreign exchange risk
- Risk of fluctuations in bond prices
- Risk of fluctuations in stock prices
- Risk of fluctuations in commodity prices
- Volatility of commodity prices
- Forwards and futures
- Delivery risk / liquidity risk
Hedging practices
- Hedging of linear risks
- Hedging of non-linear risks
Each point will be illustrated by a case study
What is the role of markets?
- The functions of financial markets
- The cash and derivatives markets: equity, fixed income, foreign exchange, credit
Actors in the financial market
- Motivations and inte-relations: State, companies, individuals, banks, asset management companies ...
- Roles and activities of investment banks
Case Study: Construction of a simplified bank balance sheet
- Regulatory organizations in France: AMF, ACP, ECB
Cash products: how does it work?
- Equity
- Money Market products and Bonds
Case Study: Why do bond prices fall when rates rise?
- Foreign exchange Products
What is a firm derivative?
- Forwards and Futures: principles and applications by market
- Forward exchange
Case Study: Excel Calculation of a hedge by Futures / forward exchange
- The world of Swaps
- IR Swaps: mechanism, examples of use
Case Study: How to make a fixed rate loan?
Optional derivatives
- Underlying Equity
- Stock options: Call / Put
- Settings and price sensitivities: measuring risk
- Usage: hedging / leverage
- Underlying Rate / Change
- Adaptation to the world of interest rate and foreign exchange
- What strategies for hedging or risk-taking?
- Underlying credit
- What is a CDS?
- Uses and risks
Case Study: Analyze optional strategies
Sources of risk
- Foreign exchange risk
- Risk of fluctuations in bond prices
- Risk of fluctuations in stock prices
- Risk of fluctuations in commodity prices
- Volatility of commodity prices
- Forwards and futures
- Delivery risk / liquidity risk
Hedging practices
- Hedging of linear risks
- Hedging of non-linear risks
Each point will be illustrated by a case study
Alain Bouijoux

Head of sales in London and Paris on a desk for foreign exchange and interest rate derivatives, Alain has evolved for over 10 years in the markets. He faced the needs of his clients as well as the requirements of traders and management obligations of back and middle offices. Today he puts that experience at your disposal to answer all your questions about markets and their actors.
Alain Bouijoux also teaches :
- Comprendre les marchés financiers (Catalogue Marchés financiers)
- Couvrir les risques de l’entreprise (Catalogue Marchés financiers)
- DCI (Catalogue Certifications)
- DCI – Le crédit immobilier : comprendre et évaluer les risques de taux (Catalogue Certifications)
- DCI – Le crédit immobilier : taux d’intérêt, comprendre et utiliser (Catalogue Banque & Assurance)
- DCI – Le Crédit immobilier, ses risques et le bilan bancaire (Catalogue Banque & Assurance)
- Evolution des banques et nouveaux outils de financement (Catalogue Marchés financiers)
- Financing European Economies : New tools for new issues (Catalogue English)
- Gérer le risque de change (Catalogue Finance d'entreprise)
- L’essentiel des marchés financiers (Catalogue Marchés financiers)
- La Banque et son environnement (Catalogue Banque & Assurance)
- Macroéconomie (Catalogue Marchés financiers)
- Perpetual subordinated debt : The issues (Catalogue English)
- Produits dérivés 1 : mécanismes et utilisations (Catalogue Marchés financiers)
- The basics of derivatives markets (Catalogue English)
- The basics of financial markets (Catalogue English)
- The basics of financial markets (Catalogue English)
Oscar Relier

Oscar has worked in corporate finance and trading room for SBC Warburg, UBS and Deutsche Bank. He masters the mechanism, use and pricing of derivatives. Also trained in behavioral techniques, he designs and conducts training on public presentation and on the issues of communication and management.
Oscar Relier also teaches :
- Analyse comportementale des marchés (Catalogue Marchés financiers)
- Associate PRM® (Catalogue Certifications)
- Comprendre les marchés financiers (Catalogue Marchés financiers)
- Dérivés de crédit 1 : mécanismes et utilisations (Catalogue Marchés financiers)
- Intermediate financial derivatives (Catalogue English)
- Introduction aux FinTech : la finance disruptée (Catalogue Finance d'entreprise)
- Introduction to credit derivatives (Catalogue English)
- Investir dans les entreprises non cotées : un enjeu pour la gestion d’actifs (Catalogue Marchés financiers)
- L’essentiel des marchés financiers (Catalogue Marchés financiers)
- Les Cryptomonnaies et les ICO (Catalogue Marchés financiers)
- Les produits dérivés de taux (Catalogue Marchés financiers)
- Manager ses collaborateurs (Catalogue Marchés financiers)
- PRM® – Professional Risk Manager (Catalogue Certifications)
- Produits dérivés 2 : dérivés complexes (Catalogue Marchés financiers)
- Produits structurés et dérivés en gestion (Catalogue Marchés financiers)
- Public Speaking and Presentation Skills (Catalogue English)
- S’exprimer en public (Catalogue Marchés financiers)
- Sales techniques (Catalogue English)
- Structured products in Asset Management (Catalogue English)
- Techniques commerciales avancées (Catalogue Marchés financiers)
- Use of Derivatives in Asset Management (Catalogue English)
- Variance, swaps and volatility (Catalogue English)
Christine Turpaud

Christine has 20 years of experience in investment banks, including 10 years as an analyst "fixed income" and 5 years in Structured Finance Middle Office. She has created a company for valuation of bond portfolios and transaction control. She is responsible for the Bärchen’s preparation for professional certifications.
Christine Turpaud also teaches :
- CFA® – Level I (Catalogue Certifications)
- CFA® – Level II (Catalogue Certifications)
- CFA® – Level III (Catalogue Certifications)
- Conformité et déontologie en société de gestion (Catalogue Marchés financiers)
- Ethics and Compliance in Portfolio Management (Catalogue English)
- PRM® – Professional Risk Manager (Catalogue Certifications)
- Risk Management 2 : approche quantitative (Catalogue Marchés financiers)