Intermediate Futures & Forwards

Intermediate Futures & Forwards Course Overview

This Intermediate Futures & Forwards course provides an overview of different futures and forward contracts, how they are priced, and various trading strategies such as hedging, speculating and arbitrage. You will have the opportunity to work through practice examples and learn how to identify key information on Bloomberg Terminal. By the end of this course, you will have an enhanced understanding of futures and forwards which will prepare you for learning other derivatives and advanced strategies.

We will explore: 

• Commodity futures contracts
• Currency forward contracts
• Equity index futures contracts
• Interest rate futures and forward contracts

Intermediate Futures & Forwards Learning Objectives

Upon completing this course, you will be able to:

• Describe the different types of futures and forward contracts and why they are used
• Understand how to calculate futures prices and identify if they are in contango or backwardation markets
• Explain how to identify an arbitrage opportunity using futures and forwards
• Understand how to calculate and quote foreign exchange forwards
• Evaluate the constituents which make up the fair value of equity index futures
• Explain STIRs, fed funds futures contracts and forward rate agreements

Intermediate Futures & Forwards Is an Elective Course of CFI’s CMSA® Program

CFI’s Capital Markets & Securities Analyst (CMSA)® program covers all the basic, intermediate, and advanced topics about sales and trading, investment banking, and asset management. This program teaches you trading strategies used in the finance and capital markets industry. It is ideal for students who want to learn how to trade different asset classes. The program is completely online so you can take it at your own pace, from anywhere in the world.

Common career paths for students who take the CMSA® are Sales & Trading, Asset Management, Wealth Management, Treasury, Risk Management, and other capital markets careers.

Who Should Take This CMSA® Course?

This Intermediate Futures & Forwards course is perfect for anyone who would like to build up their understanding about derivatives, specifically futures and forwards. This course is designed to equip anyone who desires to begin a career in the capital markets as a derivatives trader.