The NYSE Liffe Education Programme offers a range of equity courses:

•  An Introduction to Equity Derivatives (Beginner level) - intensive 1 day (27 April, 2010)
•  Equity and Index Options (Intermediate Level) - 2days (28/29th, April 2010)  
•  Tailored Equity Derivative workshops now also available (maximum 10 people from a single company). A cost effective way to train your team for 2010.

Please contact bduder@nyx.com now to register your interest and or, book any of the above courses.

• Types of Derivative
• Derivative Exchanges

• Futures basics
• Recognised Investment Exchanges (e.g. NYSE LIFFE)
• The role of the Clearing House (e.g. LCH.Clearnet)
• Volumes, open interest, settlement
• Why use futures? (Hedging & Speculation)
• Accessing futures markets

• Pricing futures contracts
• Terminology (including how to place a futures order)
• Trading tools: Fundamental & Technical Analysis
• Quote Vendors
• ISV’s
• Futures markets as an information source

• Contracts For Difference
• Spread Betting

Lunch Break

• The basics of an option contract
• Calls & Puts
• Why use options? (hedging, speculation)
• Pricing an equity option:
• Underlying Stock Price
• Time
• Volatility
• Interest Rates
• Dividends

• Basic option strategy
• Trading options against the underlying stock yield enhancement
• Resources

Summary of Liffe Equity & Index Products & Services

• Delegates’ individual questions and scenarios
• Followed by informal reception with Liffe representatives

Day 1:

• Calls & Puts
• Intuitive comparisons
• Formal definitions
• Contract Specifications

• The process and examples
• European & American style Options

Coffee Break

Why use Options?

• Protection
• Speculation
• Exact tailoring

• Intrinsic & Time value
• Put/Call Parity
• Terminology: in, at, out of the money

Lunch Break

• Four principal pricing factors
• Underlying
• Time
• Interest Rates
• Volatility: Historical & Implied
• Pricing models
• Practical demonstration of a pricing model
• Treatment of dividends

Coffee Break

• Definition
• Call & Put Skews
• Practical analysis of Skew

• Buying v selling premium
• Pay-off charts

Day 2:

• Fences
• Call & Put Spreads
• Straddles & Strangles
• Butterflies & Condors
• Calendars & Diagonals

Coffee Break

• Mathematical interpretation
• Intuitive interpretation
• Calculating Delta
• Using Delta
• Delta Neutrality
• Synthetics

Lunch Break

• Analysis of delegates’ chosen markets/scenarios
• Analysis/application of appropriate strategies

Coffee Break

• Option risk management
• Theta
• Vega
• Rho

• Calculating Gamma
• Interpretation of Gamma
• Trading Gamma, long and short

• Delegates questions and scenarios
• Followed by informal reception with Liffe representatives