This training is offered in both face-to-face and distance learning formats. More information

Description

Objectives

By the end of this course, you will have analysed and understood the principles and organisation of the bond market:


  • The origin and evolution of fixed income securities
  • The players and parties involved
  • The new market organisation, including the requirements of MIF 2 (MIFIR/MIFID 2)
  • The basic characteristics of bonds (physical presentation, nominal value, issue price, redemption price…)
  • The main explanatory variables encountered
  • How bonds are issue (types of issue, mechanisms, prospectus and regulatory aspects …)
  • The rights and obligations of the bond issuers and holders
  • The risks of investing in bond investment and solvency criteria
  • The basic elements and characteristics of the different types of bonds (fixed rate, variable rate, hybrids…)
  • The principles and methods used to determine a fair bond price
  • Problems encountered when measuring bond yields
  • How to construct and interpret a bond yield curve and the conclusions to be drawn from it from a structural and economic point of view
Programme
  • THE ORIGINS OF DEBT INSTRUMENTS
  • BASIC ELEMENTS OF THE DIFFERENT TYPES OF BONDS (ILLUSTRATED WITH EXAMPLES)
    • Traditional products: fixed and floating rate bonds
    • Hybrid products: convertible and reverse convertible bonds, warrants bonds, index-linked bonds…
  • IMPORTANCE OF SOLVENCY CRITERIA
    • Hierarchy of issuers
    • Notion of spread
    • Rating agencies
  • cHARACTERISTICS AND EVALUATION OF RISKS ASSOCIATED WITH BONDS
  • RIGHTS AND RESPONSIBILITIES OF THE BOND ISSUER
  • RIGHTS AND OBLIGATIONS OF THE BONDHOLDER
  • BIRTH OF A BOND
    • Issuance mechanism
    • Issue prospectus
    • Regulatory aspects
  • BASIC CHARACTERISTICS OF THE PRODUCT AND ISSUE CONTRACT
  • TYPES OF PLAYERS AND OTHER PARTIES INVOLVED IN THE BOND MARKET
  • DESCRIPTION OF DISINTERMEDIATION, INTERNATIONAL DEVELOPMENT AND EVOLUTION OF THE BOND MARKET
  • MIFIR AND MIFID I AND II IMPACT AND CONSTRAINTS IN TERMS ON MARKET ORGANISATION AND TRANSPARENCY
  • PRINCIPLES OF BOND PRICING
  • PRACTICAL ASPECTS OF AND PROBLEMS INVOLVED OF MEASURING A BOND YIELD
  • THE YIELD CURVE: HOW IT WORKS AND INTRODUCTION TO ANALYSIS
Procedure

This training is offered in blended-learning, you will receive access to a preparatory course in e-learning 5 days before the course.


Conditions

Course Material

Please note that for environmental reasons no paper version of the training material will be provided for your training. The course material can be downloaded free of charge via your portal before the start of the course (download the Client Portal User’s Guide here). You will be able to view it on the screen of your mobile device or print it if necessary. If your registration has been made by a training manager of your company please contact him/her so that he/she can give you access to it or send it to you.

Location
Chambre de Commerce Luxembourg
7, rue Alcide de Gasperi
L-1615 Luxembourg
Luxembourg
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Sessions and schedules

Duration 1H

Location Chambre de Commerce Luxembourg

  • Tue 19.03.2024 08:45 to 11:45
  • Tue 26.03.2024 08:45 to 11:45
  • Thu 28.03.2024 08:45 to 11:45
  • Tue 16.04.2024 08:45 to 11:45
  • Tue 23.04.2024 08:45 to 11:45
  • Thu 25.04.2024 08:45 to 11:45
  • Tue 30.04.2024 08:45 to 11:45
  • Tue 07.05.2024 08:45 to 11:45
  • Tue 14.05.2024 08:45 to 11:45
  • Tue 21.05.2024 08:45 to 11:45
  • Thu 23.05.2024 08:45 to 11:45
  • Tue 04.06.2024 08:45 to 11:45
  • Tue 11.06.2024 08:45 to 11:45
  • Tue 25.06.2024 08:45 to 11:45
  • Thu 27.06.2024 08:45 to 11:45
  • Tue 02.07.2024 08:45 to 11:45
  • Tue 09.07.2024 08:45 to 11:45
  • Tue 17.09.2024 08:45 to 11:45
  • Tue 24.09.2024 08:45 to 11:45
  • Thu 26.09.2024 08:45 to 11:45
  • Tue 01.10.2024 08:45 to 11:45
  • Tue 08.10.2024 08:45 to 11:45
  • Tue 15.10.2024 08:45 to 11:45
  • Tue 22.10.2024 08:45 to 11:45
  • Thu 24.10.2024 08:45 to 11:45
  • Tue 05.11.2024 08:45 to 11:45
  • Tue 12.11.2024 08:45 to 11:45
  • Tue 19.11.2024 08:45 to 11:45
  • Tue 26.11.2024 08:45 to 11:45
  • Thu 28.11.2024 08:45 to 11:45
  • Tue 03.12.2024 08:45 to 11:45
  • Tue 10.12.2024 08:45 to 11:45
  • Tue 17.12.2024 08:45 to 11:45
  • Thu 19.12.2024 08:45 to 11:45