Infopaket

Global derivative market

ВК 2.4

Вибіркова дисципліна для ОП

Second

2023/2024

3 Semester

4

To know: the conceptual and terminological apparatus of the derivatives market, and the relevant source base; basic instruments of the derivatives market, principles of use, basic trading methods, specifics of exchange and OTC trading in derivative securities; main goals and directions of using forwards on various basic assets; system of organization and pricing in futures trading; margin trading mechanism; basic futures trading strategies using different underlying assets; main types and parameters of options; types and styles, mechanism of action, options trading strategies; determination of swaps; types of swaps, purposes and mechanisms of their use; pricing mechanism in the derivatives market; the method of determining profits and losses on these transactions; methods of hedging transactions using derivatives; determination of hedging ratio and hedge management; methods of arbitrage and speculative transactions in derivatives markets.

Full-time form

1. Know the theoretical aspects and basics of regulation in various forms of international economic relations and be able to analyze the causes and consequences of trends in international economic relations. 2. Have basic skills in searching and analyzing regulations, analytical materials, and statistical sources. 3. Knowledge of English or other foreign languages to get acquainted with the legal documents of the derivatives market better.

Module 1. Instruments of the futures market. The concept and purpose of derivative securities. Forward contracts. Futures market instruments: futures. Option contracts. Options trading strategies. Futures market instruments: swaps. Module 2. The mechanism of pricing and operations in the global derivatives market. Mathematical models for operations with derivative securities. Pricing in the derivatives market. Operations in the derivatives market (Hedging. Speculation. Arbitrage.) International derivatives markets. Derivatives market in Ukraine.

1. Kuznetsova N. Derivatives markets. Section in the textbook "International Finance", ed. Rogach O.I. Published by Kyiv University. К. 2008. P. 197-242. 2. Kuznetsova N. World trade in the derivatives market. Scientific Bulletin of Kherson State University. Series: Economic Sciences. - Kherson., 2014. - 8. - P. 26-36. 3. Kuznetsova N. World derivatives market. Course of lectures. K .: "INC", 2017. - 180 p. 4. Feldman A. Derivative financial and commodity instruments: a textbook / A. Feldman. - М: Economics, 2012. - 479 p. 6. Bloss M. Derivatives: An Authoritative Guide to Derivatives for Financial Intermediaries and Investors / Munich: Oldenbourg Publisher, 2008. – 302 с. 7. Hull J. Fundamentals of Futures and Options Markets / John C. Hull. – Boston: Pearson, 2017. – 624 с. 8. Whaley R. Derivatives: Markets, Valuation, and Risk Management / Robert E. Whaley. – Hoboken: Wiley, 2016. – 960 с.

Lecture, seminar.

Oral answers, additions, blitz-polls, discussion, tasks: (max. - 25 points). Individual independent work (presentation - case study): (max. - 15 points). Modular test (max. - 20 points). Final assessment in the form of an exam (max. - 40 points).

Ukrainian