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An intensive 3-day programme providing fundamental and practical insights into the nature of volatility and how to trade and manage a wide range of volatility products. Presented by Simon Acomb and Dr. Ser-Huang Poon THE COURSE The course starts by analysing the role of volatility in the current financial markets including the causes and impact of volatility smiles on a variety of financial products. This leads into sessions on the application of a range of volatility derivatives such as volatility futures and options, tradeable volatility products such as VXX, and volatility swaps. The final part of the programme covers the treatment of volatility in the more popular stochastic volatility models used in the industry such as SABR and Heston and provides insights into the most relevant approaches to modelling volatility under current market conditions. PRIOR KNOWLEDGE Basic econometrics and Black-Scholes. Participants will also need to be competent users of Excel. WHO SHOULD ATTEND? Derivative traders Quants Fund managers, fund of funds Structured product teams Private wealth managers Risk managers and regulators Finance directors Research analysts Bank and corporate treasury managers
About LFS
London Financial Studies is a specialist teaching resource that concentrates exclusively on capital markets. We offer individuals, teams and companies a unique and expert teaching resource that combines theoretical understanding with practical experience. LFS is well known for its personal approach and the economic value that it delivers to clients.
This program is accredited by the CFA and Institute members are eligible for 24 Continuing Education credit hours.
The Teachers
Dr. Simon Acomb has been until recently a managing director at Morgan Stanley as global head of the Equities Analytic Modelling Group. He now works as a consultant and trainer in mathematical finance. Dr. Ser-Huang Poon is a Professor of Finance at Manchester Business School and has held several visiting appointments at universities in the U.S., Canada, the Netherlands and Singapore. She is internationally renowned for her volatility research. Her work, with Nobel laureate Clive Granger, was cited on Nobel web site as reference reading in volatility, and has won the Financial Analysts Journal Graham and Dodd Scroll Award for Excellence for 2005. She has published papers in international top ranking journals and has written three books, including a Wiley book on forecasting volatility.
Practical application
What we teach is soundly based in current best practice. Our teachers have extensive practical experience in relevant capital markets.
Intellectual clarity
Our teachers are first class communicators and acknowledged experts in their fields. They combine extensive practical experience with profound theoretical understanding. As skilled communicators, they get the message across quickly and effectively. Course exercises deliver effective practical learning that participants remember long after leaving the classroom.
Personal approach
We try to understand the needs of each person and structure courses and packages of real benefit to them. All our teaching groups are small enough to enable individual needs to be assessed and met continually.
Economic value
We understand the commercial environment in which our clients operate. What we teach them delivers tangible benefits to their personal performance and the bottom line of their companies.
Tight Focus
Our expertise is in capital markets. That is what we concentrate on. We offer courses and packages on a wide range of topics in this important and complex area. This tight focus enables us to deliver teaching that is uniquely effective and useful.
Booking Form
General Course Booking Conditions
The course fee is 1095 plus VAT* per day and includes lunch, refreshments, full documentation, all relevant Excel macros and spreadsheets and access to our on-line Library. An early booking discount of 10% is available for bookings made more than 20 working days before the start of the course. Multiple booking discounts are also available. Invoices will be sent out with payment instructions and are payable by the earlier of 14 days from receipt or the first day of the course. Volatility: Trading and Managing Risk (Please fill in 1 form for each booking) PLEASE WRITE CLEARLY IN BLOCK CAPITALS Course Dates: Title: Job Title: Phone: Details of person to whom invoice should be sent: Name: Phone: Payment Type: Address for Invoice: Invoice Credit Card E-mail: Job Title: VAT Reg. number: Dr Mr Mrs Ms
Cancellations An administration fee of 15% of the full brochure price will be charged for written cancellations received more than 20 working days prior to the start of the course. Delegates who request cancellation 20 working days or less before the course start date, or who do not attend, will be charged the full course fee. In the event of delegates not being able to attend, substitutes are welcome at any time for no extra charge. Postponements Delegates may make one postponement of a course place from the date of first booking to the next available date free of charge provided that the postponement request is received more than 20 working days before the start of the course. All other postponements will be subject to a fee of 15% of the full brochure price. *VAT For courses run in the United Kingdom, VAT at 20% will be charged according to UK law. Disclaimer London Financial Studies reserves the right to cancel or postpone courses for reasons beyond its control. Under all circumstances the companys liability is limited to a full refund of the course fee paid. Intellectual Property Notice The intellectual property rights in all of the readings, slides, spreadsheets and other material provided as part of or in relation to the course being booked (the material) are owned either by London Financial Studies Ltd (LFS) or by third parties. The material not owned by LFS is reproduced under the terms of a CLA license or with the permission of the owners. Further reproduction of any of the material is not allowed without the specific permission of either LFS or other owner of the intellectual property rights. Law and Jurisdiction These terms and conditions shall be governed by and construed in accordance with the laws of England and the parties agree to submit to the exclusive jurisdiction of the Courts of England and Wales.
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Registration To confirm your place, please return this booking form by fax to: +44 (0)20 7378 1062