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3 days


This workshop has been designed to combine essential theoretical knowledge with the practical skills needed to trade money market instruments and hedge open cash positions in the wholesale financial markets.

The theory sessions will cover the pricing and risks of all the major instruments and each module will conclude with a practical trading simulation, using the Windeal© Money Market Simulator. This will ensure that the delegates comprehend the practical application of the theory, and the potential impact of macro-economic and other factors including market liquidity conditions, client order flow, and risk limits.

Learning Outcomes

  • Calculate present and future values of single-currency cash flows
  • Appreciate the importance of counterparty credit risk
  • Understand the mathematics and language of conventional money market instruments
  • Understand the mathematics and language of the FRA market
  • Derive the term structure of short-term interest rates
  • Hedge cash market transactions using derivatives
  • Set and manage appropriate risk limits
  • Comply with liquid asset requirements
  • Create positive and negative ‘gaps’
  • Understand dealing etiquette and conventions
  • Quote clients, interbank counterparties, and brokers