AFT has provided a variety of programs to meet the needs of their clients. For example, AFT has developed and facilitated the programs listed below to meet clients needs:
Fixed Income
Fixed Income Mathematics – This program provides an understanding of the analytics of the bond market. Ranging from yield measurements, to duration and convexity, we provide an understanding f the various analytical and volatility measurements so critical to understanding bonds
Fixed Income Marketplace – This program provides a high level review of the products that comprise the Fixed Income market. Specifically, we review the array of Treasury and Agency Securities, Money Markets, Corporate bonds, Municipal Bonds, Asset Backed Securities and Mortgage Backed Securities
Bond Trading – Here the participant will understand the nuances of Bond Trading. The mechanics of the marketplace, as well as the analysis of the products will be reviewed. Emphasis is placed on both active and passive portfolio management.
Asset Backed Securities – Here we review the various products under the umbrella of Asset Backed Securities. The range of CBO, CDO and CLO products will be reviewed. Particular emphasis is placed on the structural risks and construction of these securities.
Treasury Securities – As the benchmark for the Fixed Income Marketplace, we will review the array f Treasury products. From When Issue (W.I.) trading, to auctions, thru secondary market trading, we will review the products that comprise the treasury marketplace. Additional emphasis is placed on yield curve analysis, the dynamic nature f the curve, and those factors affecting “the curve” (i.e. The Federal Reserve and supply/demand considerations)
Repurchase Agreements – Repo and reverse repo are covered extensively in this fixed income based program focused on repurchase agreements.
Derivatives
Understanding Swaps – Virtually no other financial instrument has experienced the growth that the Swaps market has enjoyed. Here we will review the array of Swap Products. Focusing primarily on Interest Rate Swaps (IRS) and Credit Default Swaps (CDS), we will review the structure, application and risks associated with Swaps. The changes brought on by the “Dodd-Frank” regulations will also be highlighted.
Introduction to Options – This introductory level program will familiarize the participant with the options market. Here we will review the use of options for both hedging and increasing risk. Particular emphasis is placed on the “jargon and lingo” of this exciting product.
Understanding Derivatives – This program will familiarize the participant with the Derivatives marketplace. Emphasis is placed on the various applications of these products, and well as their structure . Focus is also placed on the risks and rewards of these complex financial instruments.. Options, Futures, Forwards and Swaps are the products reviewed here
Operations
Life of a Trade – the settlement process. This module reviews the business flow and operational matrix required to successfully execute and process a securities trade. Focusing on equity securities, ( but also looking at Fixed Income and derivatives markets) we review the various functions required to successfully execute and process a trade. Emphasis is also placed on the role of “externals”, such as Depositories, Custodians and Clearing Houses.