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Foreign Exchange Markets


Library of 9 Courses

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Different foreign exchange products; their pricing and applications are comprehensively dealt with in this course group. Discussions include the foreign exchange market risks. All foreign exchange derivatives such as currency futures / swaps / options and second-generation forward contracts are explained. FX trading controls, as given in ACI code of conduct are dealt with. Real case studies are also incorporated. Pricing, structuring and application can be practiced with calculators/simulations.

After completing this course, you will be conversant with:

  • Nuances of foreign exchange markets
  • Foreign exchange derivative products
  • Second-generation forward contracts
  • FX trading controls

Target Audience

Every professional involved in the global financial services industry (as a provider, user, regulator or advisor of product/services, marketplace/exchange) would benefit from KESDEE’s innovative solutions.

  • Supervisory Agencies
  • Central Banks
  • Financial Institutions
  • Commercial Banks
  • Investment Banks
  • Housing Societies/Thrifts
  • Mutual Funds
  • Brokerage Houses
  • Stock Exchanges
  • Derivatives Exchanges
  • Insurance Companies
  • Multinational Corporations
  • Accountancy Firms
  • Consultancy Firms
  • Law Firms
  • Rating Agencies
  • Multi-lateral Financial Institutions
  • Others

  • Course Level and Number of Courses
    Intermediate Level. Library of 11 Courses

    Instructional Method
    Dynamic, Interactive e-learning

    Recommended Background
    Familiarity with basic financial concepts

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      Library of 9 Courses
    Foreign Exchange Markets
    Time taken to complete each Course: Two - Three hours

    1. Overview of Foreign Exchange Market

    • Meaning of Foreign Exchange
    • Market Size
    • Reasons to Trade FX
    • Market Timings
    • History
    • Market Participants
    • Dealing Methods

    2. Spot Market

    • Spot Foreign Exchange Transactions
    • Structure of Spot Rates
    • Direct and Indirect Quotes
    • Bid-Offer Spread
    • Cross Rates

    3. Forward Market

    • Outright Forward Transactions
    • Determination of Forward Rates
    • Forward Cross Rates
    • Short Dates

    4. Determination of Exchange Rates

    • Interest Rate Parity
    • Purchasing Power Parity
    • The Fisher Effect
    • Balance of Payments Approach
    • Monetary Approach
    • Portfolio Balance Approach
    • Forecasting Exchange Rates

    5. Currency Futures

    • Futures vs. Forward Contracts
    • Currency Futures Market
    • Futures Contract Specifications
    • Marking to Market
    • Futures Quotation
    • Pricing Currency Futures
    • Hedging with Currency Futures
    • Speculation with Currency Futures

    6. Currency Options

    • Currency Options
    • Basic Option Strategies
    • Covered Strategies
    • Spread Strategies

    7. Currency Swaps

    • FX Swaps
    • Currency Swaps
    • Currency Swap vs. FX Swap
    • Quoting Conventions
    • Types of Swaps
    • Uses of Currency Swaps

    8. Second Generation Forward Contracts

    • Second Generation Forwards
    • Range Forwards
    • Participating Forwards
    • Break Forwards
    • Forward Spread Agreement

    9. FX Trading Controls

    • ACI Model Codes regulations


    • Disclosures
    • Policy Templates
    • Measurement Tools
    • Global Best Practices
    • Regulations
    • Benchmarking Data
    • Scope and Structure of FX and Derivatives Markets

    Calculators in Foreign Exchange Markets

    1. American / European Quotes
    2. Spot Cross Rates
    3. Calculating Forward Rate Forward Cross Rates
    4. Pricing Currency Futures - Continuous
    5. Pricing Currency Futures - Daily Basis
    6. Valuation of Generic Currency Swaps
    7. NPV of Currency Cash Flow
    8. Swap Break Forward
    9. Range Forward
    10. Participate Forward
    11. Options strategies (Excel)
    12. Currency Converter

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