Curricula

• Derivatives

  • Types of derivatives

• Fundamentals of financial contracts - futures

  • Term contracts in a nutshell, including definitions

  • About the working of futures

• Futures contract specifications

  • About power contracts

  • Concerning power specifics – delivery period vs. moment

  • Differences between a forward contract and a futures contract

• Trading futures – Speculating & hedging

  • Learn how to apply futures for proprietary trading

  • Master the application of term contracts to hedge exposures

  • Concerning basis risk

• Futures position management

  • About opening and closing positions

  • Covering short selling - What is it? How does it work?

  • About clearing of contracts

  • Including collateralization, margining & leverage

• Settlement of futures contracts

  • About physical delivery &cash settlement

  • Concerning the alternative delivery procedures (ADP)

• Cascading of power contracts

  • About the process of cascading

  • Concerning the consequences for margining

  • The consequence of cascading for a hedge

  • Market liquidity of month, quarter and year contracts

• Main advantages of futures contract

  • Netting

  • Partner exposure

  • Hedging

• Other derivatives (brief overview)

  • Swaps

  • Options