Certificate course

Certified exchange trader Eurex

The course focuses on the functioning of derivatives markets in both exchange-traded and over-the-counter derivatives as well as the respective financial instruments. Participants will learn how to analyze and value derivatives. From their market assessment, they will be able to derive hedging, trading and arbitrage strategies and use them in a portfolio context.

Trainers of the English language course are Paul North and Stefan Toetzke.

Agenda

Cash markets as underlyings

  • Money market, bond market, equity market, foreign exchange (FX) market, commodity market

Basics of derivatives

  • Derivatives and their usage
  • Value driver of derivatives
  • OTC and exchange trading
  • Arbitrage strategies
  • Credit risks

Forwards and futures

  • Forward contracts and Forward Rate Agreements (FRAs)
  • Pricing of FRAs
  • Basics of futures
  • Money market futures, fixed income futures, equity index futures
  • Futures spread trading

Swaps

  • Swaps and their usage
  • Pricing of swaps
  • Interest rate swaps

Clearing

  • Function and tasks of a clearing house
  • Services of Eurex Clearing AG

Options

  • Options fundamentals
  • Basic options positions
  • Eurex options
  • Risk-reward profiles of the basic positions

Relationships

  • Put/call parity
  • Synthetic positions
  • Conversion and reversal arbitrage
  • Hedging techniques (fixed hedging, delta and gamma hedging)

Pricing model

  • Time value and intrinsic value
  • Insurance value and interest value
  • Different types of volatility and their importance
  • Maximum pain and pin risk

Key figures

  • Sensitivity indicators ("Greeks")
  • Option pricing models
  • Developing trading strategies

Directional Strategies

  • Bull spreads call/put and bear spreads call/put

Volatility Strategies

  • Straddle, strangle, butterfly, condor, time spreads

Hedge Rations

  • Correlation, beta, limitations of correlation and beta
  • Delta hedge, gamma hedge
  • Index values vs. futures values in hedge rations

Certificate and examination

Successful graduates receive the degree "Certified Exchange Trader Eurex" from Deutsche Börse AG. The examination comprises 125 multiple-choice questions and is taken on the computer. They have 3 hours to complete the exam. The examination regulations for the course contain a detailed description of the examination.The European Institute of Quantitative Finance (EIQF) credits the passed final examination as a module for the Certified Financial Engineer qualification program. Participants in this programme receive a discount of 500 euros on the course.

Proof of professional qualification as an exchange trader

Participation in the course together with the completed Eurex online system training and the passed final examination is recognized as proof of professional qualification for admission as an exchange trader at Eurex Deutschland.

Examination Dates

The participation in the examination on the next possible examination date is already included in the booked course. The examinations are offered once a month, so that participation at a later date is also possible. All exams are held from 13.00 - 16.00. The exam takes place as face-to-face event in the training rooms of Deutsche Börse Group in Eschborn or via Microsoft Teams.

Course: 07.03. - 11.03.2022 (via Microsoft Teams)
The course is held in German.
Exam: 28.04.2022 (face-to-face in Eschborn)
Exam: 29.04.2022 (via Microsoft Teams)

Course: 05.09. - 09.09.2022 (via Microsoft Teams)
The course is held in English.
Exam: 27.10.2022 (face-to-face in Eschborn)
Exam: 28.10.2022 (via Microsoft Teams)

Course: 14.11. - 18.11.2022 (face-to-face in Eschborn and via Microsoft Teams)
The course is held in German.
Exam: 21.12.2022 (via Microsoft Teams)
Exam: 22.12.2022 (face-to-face in Eschborn)

Requirements

A basic understanding of futures and options is required.

Face-to-face or live stream - The choice is yours

This gives you the choice of attending at our premises in Eschborn or at a location of your choice (with a good internet connection). To broadcast the event, we use Microsoft Teams, which you can use in your browser without installation. Questions during the event are possible via the chat function or verbally via microphone. The presentation and a questionnaire for exam preparation will also be made available to you as a PDF file.

When booking, simply select the desired location (Eschborn or live stream). As with face-to-face events, our speakers are also happy to receive your discussion contributions and questions in the live stream.

Your trainer

Walter Brägger

Dr Walter Brägger has been training financial professionals around the world in financial products and risk management for more than 20 years. He began his career in 1996 at SBC Warburg in Zurich,

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Vincent Couson

Vincent Couson (Lic. Oec., CFA, CAIA) has more than 16 years of hands-on financial and educational experience. His expertise includes portfolio construction & analysis, asset & risk

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Paul North

Paul North has over 32 years of experience in the financial markets and derivatives industry.  Paul joined the London International Financial Futures and Options Exchange (LIFFE) in 1988,

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Stefan Toetzke

Stefan Toetzke has been training financial experts worldwide for 30 years on various topics in the field of finance. He has been working for the Capital Markets Academy for more than 25 years. Stefan

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