Financial Markets & Capital Markets Professional Course 2026

In this module, you will learn about fundamental financial math, including how to calculate and compare interest rates and yields.

In this module, you will learn about the concepts of interest rates and rates of return in finance.

In this module (part 1 of 2), you will learn about the various interest rate conventions and how to use the time value of money concept in finance.

In this module (part 2 of 2), you will continue your learning on the topic of interest rate conventions and the time value of money in finance.

In this module, you will learn about the concept of compound interest and how it is used in finance.

In this module, you will learn about the time value of money and how it relates to bond pricing in finance.

In this module, you will learn about the pricing of zero coupon bonds in finance.

In this module, you will learn about the pricing of zero coupon bonds in finance.

In this module, you will learn about the differences between bond pricing and bond valuation in finance.

In this module, you will learn about the process of pricing discount securities in finance.

In this module, you will learn about the comparison of discount rates to bond equivalent yield in finance.

In this module, you will learn about bond yields and how they are used in finance.

In this module, you will learn about yield to maturity and how it is used in finance.

In this module, you will learn about the differences and similarities between yield to maturity and rate of return in finance.

In this module, you will learn about yield to maturity as an expression of current value, concluding the Fundamental Financial Math section of the course.

This Hands-On Learning activity is designed to help you apply the core concepts from Section 2: Fundamental Financial Mathematics

In this module, you will learn about yield curve dynamics and the basics of yield curves in finance.

In this module, you will learn about the different types of yield curves and how to calculate yield curve spreads in finance.

In this module, you will learn about the concept of duration in finance.

In this module, you will learn about the different types of duration used in finance.

In this module, you will learn about the concept of modified duration in finance

In this module, you will learn about duration through the use of illustrations in finance.

In this module, you will learn about the duration of callable bonds in finance.

In this module, you will learn about yield curve shapes and how they relate to interest rate levels in finance.

In this module, you will learn about the relationship between yield curves and the business cycle in finance.

In this module, you will learn about the various theories on yield curves in finance.

In this module, you will learn about spot rates and how to construct spot rate curves in finance.

In this module, you will learn about the calculation of spot rates in finance.

In this module, you will learn about bond valuation and how to conduct a rich/cheap analysis in finance.

In this module, you will learn about treasury strips and how to construct a strip rate curve in finance.

In this module, you will learn about forward rates and how they are used in finance.

In this module, you will learn about the calculation of forward rates in finance.

In this module, you will learn about the various applications of forward rates in finance.

In this module, you will learn about total return analysis in finance.

In this module, you will learn about total return analysis through illustrations and conclude the Yield Curve Dynamics section of the course.

This Hands-On Learning activity is designed to help you apply concepts from Section 3: Fixed Income Markets.

In this module, you will learn about the basics of fixed income securities and markets in finance.

In this module, you will learn about the aspects of the primary bond market, including the process of issuing bonds to borrow funds.

In this module, you will learn about the similarities between bonds and loans, and address bond valuation issues in finance.

In this module, you will learn about the various contract features of bonds in finance.

In this module, you will learn about bond coupons, accrued interest, and bond pricing conventions in finance.

In this module, you will learn about day count conventions and bond retirement in finance.

In this module, you will learn about the various types of risk in finance.

In this module, you will learn about sources of return and bond yields in finance.

In this module, you will learn about sources of return and bond yields in finance.

In this module, you will learn about yield curves and how they are used in finance.

In this module, you will learn about yield curves and government securities in finance.

In this module, you will learn about government bonds and US treasury securities in finance.

In this module, you will learn about corporate fixed income securities in finance.

In this module, you will learn about the credit risk of corporate securities and trust indentures in finance.

In this module you will learn about secured and unsecured bonds, their differences and how they may impact credit risk and investor returns.

This module covers the basics of convertible securities, including their features and the factors that influence their value.

This module covers the characteristics and features of preferred stocks, as well as the basics of structured securities.

In this module, you will learn about mortgage-backed securities, financial instruments that are created when a lender packages and sells a group of mortgages to investors. These securities generate income for the investor from the payments made on the underlying mortgages.

In this module, you will learn about Collateralized Mortgage Obligations (CMOs), a type of asset-backed security that is backed by a pool of mortgages. We will also introduce the concept of asset-backed securities, which are financial instruments that are backed by a pool of assets, such as mortgages, car loans, or credit card receivables.

This module covers the process of asset securitization, including the creation and structure of mortgage-backed securities.

In this module, we will cover credit card and auto loan asset-backed securities, financial instruments that are backed by pools of credit card or auto loan debts. You will learn about the characteristics and risks of these securities, and how they are used by investors and issuers.

This module covers Collateralized Debt Obligations (CDOs), a type of complex financial security that is backed by a pool of assets, such as mortgages, corporate bonds, or other types of debt. You will learn about the different types of CDOs and how they are used by investors and issuers.

In this module, you will learn about Collateralized Debt Obligations (CDOs) and money market instruments, two types of financial securities. CDOs are complex securities backed by a pool of assets, while money market instruments are short-term, low-risk securities that are used for borrowing and lending in the financial markets.

In this final module on fixed income securities, we will cover agency securities, which are issued by U.S. government agencies, and regional/local government debt securities, which are issued by state and local governments. This module concludes the Fixed Income Securities section of the course.

This Hands-On Learning activity is designed to help you apply concepts from Section 4: Equity Markets.

In this module, you will learn about equity products, including different types of shares such as common stock, preferred stock, and convertible stock. We will also discuss how these products are used by investors and issuers, and the risks and potential returns associated with them.

This module covers the process of buying shares and equities, including different ways to purchase these securities and the considerations that investors should take into account when making these decisions. You will also learn about the risks and potential returns associated with investing in equities.

In this module, we will use Tesco, a multinational grocery and general merchandise retailer, as an example to illustrate the concepts of buying shares and equities. You will learn about the process of purchasing securities in a real-world context, and the risks and potential returns associated with investing in a specific company.

This module covers the different types of shares and exchanges, including common stock, preferred stock, and convertible stock, as well as stock exchanges where these securities are traded. You will learn about the characteristics and features of these securities and exchanges, and how they are used by investors and issuers.

In this module, you will learn about depository receipts, financial instruments that represent ownership in a foreign company's securities. We will cover the different types of depository receipts, including American Depository Receipts (ADRs) and Global Depository Receipts (GDRs), and how they are used by investors and issuers.

In this module, you will learn about different types of investors and how they approach investing in securities. We will also discuss the concept of diversification, which is the practice of spreading investments across a variety of different assets to manage risk, and the concept of volatility, which refers to the fluctuations in the price of an asset.

In this first part of a two-part module, you will learn about various types of indices, which are statistical measures that are used to track the performance of a group of securities. We will cover different types of indices, such as stock market indices and bond market indices, and how they are used by investors and analysts.

In this 2nd part of a two-part module, you will learn about various types of indices, which are statistical measures that are used to track the performance of a group of securities. We will cover different types of indices, such as stock market indices and bond market indices, and how they are used by investors and analysts.

In this module, you will learn about tracking funds, also known as index funds, which are investment vehicles that aim to replicate the performance of a specific index by holding a basket of securities that are representative of the index. We will discuss the characteristics and features of tracking funds and how they are used by investors.

This module covers exchange traded funds (ETFs), investment vehicles that are traded on stock exchanges and track the performance of a specific index or basket of assets. You will learn about the characteristics and features of ETFs and how they are used by investors and issuers.

In this module, you will learn about derivatives, financial instruments that derive their value from an underlying asset or security. We will cover different types of derivatives, including futures, options, and swaps, and discuss how they are used by investors and issuers to manage risk and achieve specific financial objectives.

In this module, you will learn about forward contracts, which are derivatives that involve the exchange of an asset or security at a future date and at a predetermined price. We will cover the characteristics and features of forward contracts, and how they are used by investors and issuers to manage risk and achieve specific financial objectives.

In this module, you will learn about futures, which are standardized forward contracts that are traded on exchanges. We will cover the characteristics and features of futures, and how they are used by investors and issuers to manage risk and achieve specific financial objectives.

"In this module, you will learn about equity swaps, which are derivatives that involve the exchange of cash flows based on the performance of a specific equity or index. We will cover the characteristics and features of equity swaps, and how they are used by investors and issuers to achieve specific financial objectives.

This module covers options, which are financial instruments that give the holder the right, but not the obligation, to buy or sell an asset or security at a predetermined price on or before a specific date. You will learn about the characteristics and features of options, and how they are used by investors and issuers to manage risk and achieve specific financial objectives.

In this final module on equity products, we will cover structured products such as warrants, certificates, and notes, which are financial instruments that are created by combining various underlying assets or securities in a specific way. This module concludes the Equity Products section of the course.

This Hands-On Learning activity is designed to help you apply concepts from Section 5: Currency and Derivatives Markets. 

In this module, you will learn about futures and options, two types of derivative contracts that are used to manage risk and achieve specific financial objectives. We will cover the different types of futures and options, and discuss their characteristics and how they are used by investors and issuers.

In this module, we will compare derivatives to securities, two types of financial instruments that are used in the financial markets. You will learn about the differences and similarities between these two types of instruments, and how they are used by investors and issuers to manage risk and achieve specific financial objectives.

This module covers derivatives, financial instruments that derive their value from an underlying asset or security. You will learn about different types of derivatives, including futures, options, and swaps, and how they are used by investors and issuers to manage risk and achieve specific financial objectives.

In this module, you will learn about futures terminology and contract features, including key terms and concepts that are used in the futures market. We will also cover the characteristics and features of futures contracts, and how they are used by investors and issuers to manage risk and achieve specific financial objectives.

In this module, you will learn about physical delivery as a method of closing a futures position. This involves delivering the underlying physical asset, rather than settling the difference in cash.

In this module, you will learn about cash settlement and OTC (over-the-counter) derivatives. We will cover how these financial instruments are used to transfer the financial risk associated with an underlying asset, without requiring the physical exchange of that asset.

In this module, you will learn about the role of a futures clearinghouse in facilitating futures trades and the use of third party contracts to transfer risk between parties. We will also discuss the role of margin requirements in futures markets and how they are managed through the clearinghouse.

In this module, you will learn about futures margins and contracts. We will cover the key terms and features of a futures contract, including the underlying asset, delivery date, and the size of the contract. You will also learn about the role of margin in futures markets and how it is used to mitigate risk.

In this module, you will learn about the role of a clearinghouse in facilitating futures trades. We will cover the clearing process and how a clearinghouse manages risk through the use of margins and other risk management techniques. You will also learn about the functions and responsibilities of a clearinghouse in maintaining market integrity.

In this module, you will learn about the differences between futures positions and positions in the underlying asset. We will compare and contrast the key features and risks of each type of position and discuss how they can be used in different market scenarios. You will also learn about the benefits and drawbacks of each approach.

In this module, you will learn about the cash flows associated with futures positions and how futures can be used for hedging. We will cover how the price of a futures contract is determined and how changes in the price of the underlying asset affect the value of a futures position. You will also learn about the role of futures in mitigating risk in financial portfolios.

In this module, we will focus on the risks and costs associated with taking a futures position. You will learn about the various types of risks that can impact the value of a futures contract, including market, credit, and liquidity risks. You will also learn about the costs of taking a futures position, including margin requirements and transaction fees.

In this module, you will learn about the cost of carry and carrying charges in futures markets. We will cover how these costs are calculated and how they affect the price of a futures contract. You will also learn about how carrying charges can be used to hedge against the cost of holding a physical asset over a period of time.

In this module, you will learn about the relationship between cost of carry pricing and the forward pricing curve. We will cover how the shape of the forward curve is determined by the expected cost of carry over time and how changes in the cost of carry can impact the shape of the curve. You will also learn about the use of the forward curve in hedging and trading strategies.

In this module, you will learn about the fundamentals of options. We will cover the key features and terminology of options contracts, including the underlying asset, strike price, expiration date, and the type of option (e.g. call or put). You will also learn about the various uses of options, including hedging and speculation.

In this module, you will learn about long call options through the use of an example. We will walk through the key features and terms of a long call option, including the underlying asset, strike price, and expiration date. You will also learn about the potential risks and rewards of taking a long call position and how it can be used in different market scenarios.

In this module, you will learn about the basics of option pricing. We will cover the key factors that impact the price of an option, including the price of the underlying asset, the option's strike price, the time remaining until expiration, and the implied volatility of the underlying asset. You will also learn about the different option pricing models and how they can be used to estimate the theoretical value of an option.

In this module, you will learn about the concept of time value in options pricing and how it is related to intrinsic value and moneyness. We will cover how the time remaining until expiration impacts the value of an option and how to calculate the intrinsic value of an option. You will also learn about the different states of moneyness (in-the-money, at-the-money, and out-of-the-money) and how they affect the price of an option.

In this module, you will learn about short option positions. We will cover the key features and risks of selling (or writing) options, including the potential for unlimited losses and the need to maintain margin. You will also learn about the different strategies that can be used when selling options and the potential rewards and risks of each approach.

In this module, you will learn about the investment characteristics of options. We will cover the key risks and rewards of options investing and how options can be used in different market scenarios. You will also learn about the potential for leverage and the need to carefully manage risk when using options in an investment portfolio.

In this module, you will learn about long put, short call, and short put options positions. We will provide an overview of each type of position, including the key features, risks, and potential rewards. You will also learn about how these positions can be used in different market scenarios and the potential for leverage.

In this module, you will learn about option pricing sensitivities, also known as the "greeks". We will cover the key option greeks (delta, gamma, vega, theta, and rho) and how they can be used to measure the impact of changes in the underlying asset, time, and other factors on the price of an option. You will also learn about how to use the greeks in risk management and trading strategies.

In this module, you will learn about option deltas, a measure of the sensitivity of an option's price to changes in the price of the underlying asset. We will cover how to calculate option deltas and how they can be used to estimate the potential impact of price changes on the value of an option position. You will also learn about how option deltas can be used in risk management and trading strategies.

In this module, you will learn about delta hedging, a risk management technique used to offset the price sensitivity of an option position. We will cover how to calculate the optimal delta hedge ratio and how to use delta hedging to mitigate the risk of loss from changes in the price of the underlying asset. You will also learn about the potential limitations and drawbacks of delta hedging.

In this module, you will learn about delta neutral hedging through the use of an example. We will walk through the process of constructing a delta neutral hedge and how to adjust the hedge as the price of the underlying asset changes. You will also learn about the potential benefits and limitations of using delta neutral hedging as a risk management strategy.

In this module, you will learn about the Black-Scholes model and the concept of option volatility (vega). We will cover how the Black-Scholes model is used to estimate the theoretical value of an option and how vega is used to measure the sensitivity of an option's price to changes in implied volatility. You will also learn about the assumptions and limitations of the Black-Scholes model and how it can be used in practice.

In this module, you will learn about implied volatility and volatility trading. We will cover how implied volatility is calculated from option prices and how it can be used to forecast future price movements. You will also learn about the various approaches to volatility trading and the potential risks and rewards of each approach. This module concludes the Futures & Options section.

This Hands-On Learning activity is designed to help you apply the full range of concepts from Section 6: Futures and Options.

In this module, you will learn about interest rate swaps, a type of financial derivative used to manage interest rate risk. We will cover the key features and terms of an interest rate swap, including the fixed and floating leg, and how they are used to exchange interest payments between parties. You will also learn about the various types of interest rate swaps and how they can be used in different market scenarios.

In this module, you will learn about the basics of interest rate swaps. We will cover the key features and terms of an interest rate swap, including the fixed and floating leg, and how they are used to exchange interest payments between parties. You will also learn about the various types of interest rate swaps and how they can be used to manage interest rate risk.

In this module, you will learn about the key features and terms of an interest rate swap contract. We will cover the terms of the fixed and floating leg, including the type of interest rate being exchanged, the tenor (or term) of the swap, and the notional amount. You will also learn about the legal and documentation requirements for an interest rate swap.

In this module, you will learn about fixed for floating interest rate swaps, a common type of interest rate swap. We will cover how these swaps are used to exchange fixed interest payments for floating interest payments and the key terms and features of the fixed and floating leg. You will also learn about the various uses of fixed for floating swaps and how they can be used to manage interest rate risk.

This module covers the basics of periodic settlement payments on interest rate swaps, including their role in financial markets and how they are calculated.

This module covers the use of interest rate swaps as a tool for hedging cash flow uncertainty in financial markets.

In this module, you will learn about the net interest cost of a synthetic fixed coupon bond and how it is calculated.

"This module covers the basics of OTC clearinghouses, including their role in the financial industry and how they facilitate trade.

In this module, we will compare and contrast cleared swaps and OTC swaps ex-clearinghouse, including their differences in terms of trade execution and risk management.

This module delves into the inner workings of OTC clearinghouses, including how they facilitate trade and manage risk in the financial industry.

In this module, you will learn about the process of terminating a swap before maturity, including the considerations and consequences involved.

This module covers the principles of interest rate swap pricing, including how swap rates are determined and used in financial markets.

In this module, you will learn about pricing fixed for floating interest rate swaps, including how to calculate the fair market value of a swap using various methods.

This module covers the basics of valuing swaps and using them to hedge cash flow uncertainty in financial markets.

In this module, you will learn about techniques for managing the cash flow risk of fixed and floating rate assets using financial instruments like swaps.

This module covers the basics of basis swaps, including how they are used to exchange fixed rate cash flows for floating rate cash flows.

In this module, you will learn about capital market equivalents for the fixed and floating rate payers, including how they can be used to determine the fair value of a swap.

This module covers the use of value hedging and asset swaps as tools for managing the risk of financial assets.

In this module, you will learn about the various structures of interest rate swaps and how they differ in terms of cash flow payments and risk profiles.

This module covers the techniques for structuring and pricing basis swaps, and concludes the Interest Rate Swaps section of the course.