An Introduction to Fixed Income Futures: VIRTUAL DELIVERY

In this course we will explore and define what a fixed income future is, how they work and how it might be typically used to either hedge or speculate on future interest rates by market participants. You will also gain a clear understanding of the pricing relationship between the underlying bond and interest rates through looking at typical bond and short-term interest rate product examples. Delegates will be provided with logins to ICE Connect - a cutting-edge application that provides real futures data to bring a practical application element to the course.

This virtual course is one of the ICE Education LIVE programs. We provide three phases to the course:

1. Pre-course: Access to the ICE Education learning platform for on-demand primer content.
2. Live Virtual Sessions: Trainer led live video sessions (as per the outline below). These are short focused sessions with practical activity and interaction throughout.
3. Post-course: On-demand content remains available and an optional live video clinic session is scheduled for one week post course for any learning points you'd like to revisit.
All course payments must be received one day prior to the start date

Course Information

Price £795 + VAT
Duration 1 day
Location Virtual: EMEA Time Zone
Available Dates
May 19 2021  Register Now

Who Should Attend

As the title suggests, this course is aimed at (currently) non-traders with little or no existing knowledge of this subject area.

Booking Information

Tel: +44 (0) 20 7065 7706

Course Content

0900 -0920: Technology check -we ask delegates to login ahead of the official start time to ensure all links and technology is working.

0930 - 1015: Session 1

  • Zishi/JH/GL intro to delegates
  • Explanation of days structure and agenda
  • What is a Yield Curve? -shapes and sizes
  • Products & geography -which markets are we looking at?

o STIRs -benchmarks & global coverage

o Bonds -the œlong end & government borrowing

  • Key exchanges -history and rankings
  • Time zones -trading round the clock: US, Europe, Asia
  • Q&A session
  • Exercises on this session

1030 -1115: Session 2

  • Contract specifications of key contracts
  • Cash settlement versus physical delivery
  • Wholesale markets - the "underlying"
  • Clearing and Counterparty Risk

- The Clearing House -a CCP

- Settlement and marking-to-market

- Margin -initial, variation, maintenance

- Margin information and sources

  • Q&A session
  • Exercises on this session

1130 -1215: Session 3

  • Bonds explained

- Key features of bonds

- Functions of the bond market

- Risks associated with bonds

- Key language and terminology

  • Q&A session
  • Exercises on this session

1315 -1400: Session 4

  • STIRs -Short Term Interest Rates

- Key features

- STIRs contracts

- Pricing STIRs

  • Key factors that move STIRs markets

- Central Bank policy/announcements

- Macro-economic data

- Other factors

  • Cash and wholesale markets -fitting the jigsaw together
  • Key benchmarks -history, evolution and context
  • SOFR and SONIA versus LIBOR
  • Q&A session
  • Exercises on this session

1415 -1500: Session 5

  • The pivotal role of Central Banks

- How CBs control the short end -interest rate policy

- CB communications -speeches, conferences, tweets

- Macro and micro influences -the significance of data

- Further factors -fiscal policy and Black Swans

  • Q&A session
  • Exercises on this session

1515 -1600: Session 6

  • Accessing and viewing the markets

- Trading screen view -exploring the matrix

- Correlations -market globalisation

- Currencies -majors and minors

  • Course summary
  • Final Q&A session
  • Explanation of post-course resources