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FINANCIAL MARKET COURSES

FX Forward Market - Uses of Outrights & FX Swaps

This course describes some of the more popular forward foreign exchange instruments used on a daily basis in the market. A forward outright is an instrument that is constructed in a similar way to a spot transaction. However, the value date on the forward outright occurs after the spot value date. FX swaps, on the other hand, involve the exchange of two currencies on the spot value date and then the re-exchange of the currencies on the swap value date. The course looks at the main users of forward outrights and FX swaps and the reasons why they might use these instruments.

  • OBJECTIVES

    On completion of this course, you will be able to:

    Identify the main users of forward outrights and describe how they are used in FX hedging operations

    Show how FX swaps are used to manage cash flows, move maturity dates, maintain open positions, and cover short positions

  • COURSE OUTLINE

    Topic 1: Calculating Forward Points

    Who Uses Forward Outrights?

    Use of Forward Outrights by Corporates

    o Hedging a Once-off Future Receivable

    o Hedging a Series of Future Payments

    Use of Forward Outrights by Fund Managers

    Topic 2: Using FX Swaps

    Use of FX Swaps to Manage Cash Flows

    Other Uses of FX Swaps

  • PREREQUISITE KNOWLEDGE

  • ESTIMATED COMPLETED TIME

    60 Minutes

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