The development of the market in South Africa The history of the market and the current market offering The regulation of exchange traded and over-the-counter derivatives Participants in the derivative markets Hedgers – how derivatives are used to hedge underlying asset and liability price risk Speculators – what distinguishes a speculator from a hedger Arbitrageurs – trading to take advantage of mispricing of financial instruments Distinguishing between forward contracts, futures and options Linear derivative contracts Forwards Futures Non-linear contracts Options The Over-the-Counter Market Forward Rate Agreements – FRAs Contracts’ characteristics, pricing, revaluation and settlement Interest Rate Swaps – IRSs Contracts’ characteristics, pricing, revaluation and settlement Forward Exchange Contracts – FECs Contracts’ characteristics, pricing, revaluation and settlement Cross Currency Swaps Contracts’ characteristics, pricing, revaluation and settlement The use of documentation in OTC markets’ – ISDA The risks in the OTC Market instruments

Speakers

André Kurten

André holds BCom Honours degree from UNISA and is a CAIB (SA) with the Institute of Bankers in SA.

André is a Fellow of the South African Institute of Financial Markets and has served as a Governor on the board for over 17 years. He has extensive knowledge of banking, treasury and finance products.

André worked in the treasury at Nedcor for 9 years, where he traded money and bond markets. While at Nedcor, he was instrumental in establishing the interest rate derivative trading desk. André worked at two major interdealer brokers as a Director responsible for Interest rate derivative broking.

André worked at ABSA as Head of their agricultural derivatives trading desk in 1994. During his time at ABSA, André sat on the executive committee of the SA futures Exchange Agricultural Markets Division.

André worked for the SA Futures Exchange for a year as Assistant General Manager responsible for interest rate product development.

The ACI Financial Markets Association recognizes André as a training provider for both the ACI Dealing and Operations Certificate programs.

André has been training for 16 years and is extensively traveled having facilitated workshops and training interventions for many of the large multinational financial institutions from introductory to advanced level in Singapore, Hong Kong, Dubai, Oman, KSA, Malaysia, China, Sri Lanka, India, Pakistan, Uganda, Malawi, Zimbabwe, Zambia, Namibia, Kenya, Nigeria, Ghana, and South Africa. He consults to a number of companies on treasury product implementation and hedging.

André has conducted over 100 ACI Workshops internationally with an outstanding first time pass rate for both the ACI Dealing and Operations certificate.

André authored a book titled “Introduction to Derivatives – A South African Perspective”.

Exchange traded Market The mechanics of the exchange traded market – a futures exchange Dealing, margins, and marking to market Equity futures Index futures pricing and applications Single stock futures pricing and applications Commodity futures Grain and oil seed futures pricing and applications Interest rate futures JIBAR futures pricing and applications Currency futures Foreign exchange futures pricing and applications Options on futures pricing and applications The risks in the exchange traded markets Options Market Option contracts’ characteristics and pricing principles Calls and Puts Option valuation Writing Options and buying options Volatility and directional trading using options The Option Greeks The risks in the Options Market Credit Derivatives The basic credit derivative structures Credit events The risks in the credit derivative markets The workshop summary Questions

Speakers

André Kurten

André holds BCom Honours degree from UNISA and is a CAIB (SA) with the Institute of Bankers in SA.

André is a Fellow of the South African Institute of Financial Markets and has served as a Governor on the board for over 17 years. He has extensive knowledge of banking, treasury and finance products.

André worked in the treasury at Nedcor for 9 years, where he traded money and bond markets. While at Nedcor, he was instrumental in establishing the interest rate derivative trading desk. André worked at two major interdealer brokers as a Director responsible for Interest rate derivative broking.

André worked at ABSA as Head of their agricultural derivatives trading desk in 1994. During his time at ABSA, André sat on the executive committee of the SA futures Exchange Agricultural Markets Division.

André worked for the SA Futures Exchange for a year as Assistant General Manager responsible for interest rate product development.

The ACI Financial Markets Association recognizes André as a training provider for both the ACI Dealing and Operations Certificate programs.

André has been training for 16 years and is extensively traveled having facilitated workshops and training interventions for many of the large multinational financial institutions from introductory to advanced level in Singapore, Hong Kong, Dubai, Oman, KSA, Malaysia, China, Sri Lanka, India, Pakistan, Uganda, Malawi, Zimbabwe, Zambia, Namibia, Kenya, Nigeria, Ghana, and South Africa. He consults to a number of companies on treasury product implementation and hedging.

André has conducted over 100 ACI Workshops internationally with an outstanding first time pass rate for both the ACI Dealing and Operations certificate.

André authored a book titled “Introduction to Derivatives – A South African Perspective”.