Investment banking briefing

Content
Investment Banking Overview
-What is a Bank v an Investment Bank ?
-Main services/products and Departments
-Capital Markets: Equity and Debt (Flotations/IPO, Debt Issuance),
-Corporate Finance, Mergers & Acquisitions. Advisory work. Fund Management.
-Main players
-Role of Back and Mid Office
-Treasury role
-Industry influences and the future

Equity Research and Dealing
-Sell side v Buy side
-Meaning of Stock and sector selection
-Research process and objectives
-Equity Market Making
-Equity Issuance: what and why

Corporate Finance
-Primary & Secondary market Activities
-IPOs, Flotations, Rights Issues, Placings
-Mergers & Acquisitions: Rationale, Methods, Process and Timing (UK example)
-Ongoing obligations
-Capital Restructuring
-Venture & Development Capital

Treasury Operations
-What is Treasury
-Asset Liability Management
-Trading explained: Long and Short positions
-Own Account/Proprietory v Agency
-Exchange Traded v OTC
-Meaning of Clearing and Settlement
-Securities Lending and Borrowing
-Prime Brokerage and Repo operations outlined
-Why have a Funding mismatch ?

Fund Management & Hedge Funds
-Main classes of Funds. Retail v Institutional markets
-Who are the Fund Managers and who are the clients
-Basic approaches and styles: Balanced, Index, Value, Growth etc
-Example mandate
-Portfolio construction. Top Down v Bottom Up
-Benchmarking
-Current Issues
-What is a Hedge Fund
-Types of Hedge Fund.
-Risks and returns of a Hedge Fund.
-Prime Brokerage Activities

Debt / Fixed Income Markets & Products
-What is a Bond ? Basic Terminology.
-Main types of Bonds
-Who issues Bonds. Who buys
-Issuing Debt : the markets and the process
-Bond Prospectus and players.
-Pricing and an explanation of Yield
-Yield curve importance and how to take a position
-Outline what influences the Bond Market
-Bond Rating or Grading and its importance
-Specialist Fixed Income products outlined:
-Securitisation & Asset Backed Securities (ABS)
-Mortgage Backed Securities and CDOs
-Loan syndication

Foreign Exchange Operations
-Major markets, Currencies and players
-Meaning of Spot
-Cross Rate meaning and how arrived at - outline only
-Outline what determines a Forward Rate
-Forward rates and how calculated

Derivatives : Futures, Options, Swaps and FRAs explained
What are Futures?

Background, Terminology, Types. Markets. Future v Forwards explained

Outline of Contract and Pricing details

Long and Short positions. Examples

Explain Clearing, Margin and Settlement

What are Options?

Background, Terminology. Types. Main Markets

Exchange Traded v OTC explained

Calls and Puts explained

Writing (Selling) v Buying

Contrast Futures v Options

What are the main factors in determining the value of an Option

Time and Intrinsic values

What is a Swap? Terminology. Examples

Diagrams of Cash flows etc.

Interest Rate Swaps explained
Currency Swaps explained
Credit Default Swaps explained
Role of ISDA
Swap relationship with other markets
What are the dangers in a swap.
Meaning of FRA
Swaptions outlined



Todays Date: 8 September 2017
Duration 2 days