FIMCIR/2014-15/40 January 15th, 2015 To All FIMMDA Members/ Non Members Dear Sir / Madam, Training Program Valuation of Debt Securities February 23rd February 24th, 2015. FIMMDA in co-ordination with Dun & Bradstreet Information Services (India) Pvt. Ltd. is conducting a two-day training program on Valuation of Debt Securities on February 23rd February 24th, 2015. The course is specialized in nature and is presently conducted only twice in a year. It is extremely useful to officers dealing in Mid-Office as well as in front office. The brief details of the program are as under: Program title : Valuation of Debt Securities Course handled by : Faculty from D&B Course Fee : Members : Rs. 18000 + 12.36% (service tax) : Non Members : Rs. 19000 + 12.36% (service tax) As per I.T. rules, Circular no.01/2014 dated 13.01.2014, please do not deduct TDS on Service tax Component. Period : February 23rd February 24th, 2015. Timing : 10.00 am to 5.00 pm including lunch break Course Coordinator: Meghan Petkar
Venue : FIMMDA 2 nd Floor, United India Building, Next to RBI Amar Building Monetary Museum P.M. Road, Fort, Mumbai 400 001. A tentative time - table (Annexure I) of the course is enclosed for your perusal. If you have any suggestions on the contents, you may forward the same. IMPORTANT CONDITIONS: The registrations will be confirmed only on receipt of the payment along with the registration form. Confirmation will be done on first come first serve basis subject to receipt of payment and availability of seats at the time of receipt of cheque. Please send your registration forms by mail/fax, mentioning number of candidates you are sponsoring. Due to logistic reasons, we can take only 20 trainees on a first come first served basis. Contact Details: Phone No. : 022-2269 0321-26 E-mail Id : training@fimmda.org Fax No. : 2262 6454 Yours faithfully, D.V.S.S.V Prasad Chief Executive Officer Encls: Registration Form
REGISTRATION FORM (February 23rd February 24th, 2015) TRAINING PROGRAMME VALUATION OF DEBT SECURITIES Organization: Office Address: Telephone Number: ------------------ Fax Number: ---------------------- Name Details of the Participant Participant 1 Participant 2 Participant 3 Designation Department Mobile Number E-mail ID AUTHORISED SIGNATORY: Date: UTR NO: Offline Cheque /Demand Draft in Favor of FIMMDA Online Account No 30782076282 Name of Bank & Address IFSC CODE State Bank of India International Post Box No. 11 179, 16, Maharshi Karve Road, Churchgate, Mumbai 400 020. SBIN0001821 Date:
Payment to be made along with registration form. (Annexure 1) Overview of Different Debt Securities Valuation of Debt Securities Course Structure (Duration 2 days) Regd. Office: 2 nd Flr, United India Bldg, Sir P.M. Marg, Overview of Different Debt Securities Types of bonds and their characteristics Players in the fixed income market Primary and secondary market trading Risks associated with investing in bonds Key Terminologies and Bond Mathematics Yield to Maturity Clean Price, Accrued Interest, Dirty Price Bond Prices and Discount Factors Bond Prices, Spot and Forward Rates Deriving ZCYC & Par Yield bond Calculate forward rates from spot rates Calculate the price of a bond using discount factors, spot rates and forward rates Measures of Price Sensitivity DV01, Effective Duration, Modified duration and Macaulay duration Convexity Bond rating Key guidelines for Debt Securities/Investments Valuation General principles of bond valuation Different valuation approaches Valuation of fixed income investments Valuation of government securities
Valuation of bonds and debentures other than government securities (rated and unrated) Valuation of bonds and debentures having special features o Valuation of floating rate bonds o Valuation of bonds with embedded options (callable bond, putable bonds) o Valuation of convertible bonds / debentures Valuation of perpetual bonds Valuation of tax free bonds Valuation of Mortgage Backed Securities Yield Curve Interpolation Term structure of Interest Rates Bootstrapping Cubic Splines (Being used by FIMMDA and to be dealt in detail) Nelson Siegel Method (Presently used by CCIL) Fixed Income Derivatives and their valuation Interest Rate Futures and their valuation Interest Rate Swaps o Introduction to Interest Rate Swaps o Background, reading swap screens, market conventions, swap spreads o MIBOR, MIFOR, OIS swap pricing and valuation STRIPS Accounting treatment of Fixed Income Portfolio