Claiming Back Your VAT

All attendees of a London based course incur VAT as a part of the cost of attendance.

Euromoney Learning have partnered with VAT IT to allow you the unique opportunity to recoup the VAT incurred.

Using VAT IT's extensive experience and simple sign-up and refund process, every invoice can be turned into cash for your business.


Claim the VAT that's rightfully yours in four simple steps:

1. Register your interest

2. Sign a few simple documents

3. VAT IT processes your claim

4. Receive your refund




Why choose VAT IT 

VAT IT have spent two decades identifying, researching and perfecting the foreign VAT Reclaim process and built the best back end technology in the industry. By partnering with Euromoney Learning, we can provide you with a fast and effective way to reclaim your VAT which helps reduce the cost of your training.

VAT IT will charge a percentage of the VAT refund if/when it is successful. 


Can I claim back the VAT myself?

You can claim back VAT directly from the UK Tax Authority (HMRC) by completing the following form. 
For European clients, please refer to form VAT 65
All other clients, please refer to form VAT 65A.

 

You may also be able to claim back your VAT against courses taking place outside of the UK, and we would recommend contacting VAT IT, our specialist partner, to discuss how to do this.

Course details

Dates are currently being finalised. Get in touch to find out more
Download course brochure

Interest Rate Derivatives

Learn fundamentals of interest rate derivatives, swaps & yield curves
  • Course Overview


    This course forms Module 1 of the Advanced Derivatives course and is a detailed 2-day course on interest rate derivatives

    Day 1 - Interest rate derivatives, swaps and cross-currency swaps, modern yield curve construction

    Day 2 - Interest rate options and exotics, CMS and applications, structured products

    The emphasis is on a healthy mix of theory and client applications, and is illustrated throughout with real-life examples and case-studies.

  • Day 1

    Interest Rate and Cross-Currency Swaps


    Interest rate swaps

    • Quotation and terminology
    • Drivers of yield curve shape and level
    • Understanding swap spreads


    Settlement and clearing

    • OTC versus central clearing
    • The ISDA Master and the role of the CSA
    • Collateral and netting
    • Briefly on CVA adjustments


    Customer applications

    • Using swaps to hedge debt issuance
    • Asset swaps
    • Curve trades and other proprietary positions


    Formal swaps pricing

    • From par rates to discount curves and forwards
    • Bootstrapping the discount curve
    • The choice of the discount curve – why OIS?
    • Tenor basis and projection curves
    • Modern yield curve construction


    Cross-currency swaps

    • Mechanics of a CRX swap
    • Understanding the drivers of the CRX basis spread
    • Customer applications

    Day 2

    Interest Rate Options


    Caps, floors and collars

    • Mechanics and settlement


    Swaptions

    • Structure and mechanics
    • European versus Bermudan settlement


    Constant maturity swaps

    • Mechanics, quotation and settlement
    • Understanding the convexity adjustment
    • Model-independent replication and hedging of the convexity
    • Applications in liability-management


    Understanding the volatility surface

    • Drivers of the skew and smile
    • Normal versus lognormal vol, CEV models, shifted lognormal
    • Introduction to stoch vol and SABR


    Introduction to interest rate modelling

    • Single-factor models
    • Mult-factor models and the LMM


    Structured products

    • Callable bonds
    • Embedding options for yield-enhancment: capped FRNs, reverse floaters
    • Corporate liability management


    Interest rate exotics and structured products

    • Digitals and range accruals
    • Target redemption structures
    CMS spread-linked
  • Our Tailored Learning Offering

    Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company’s exact requirements? If you’d like to do either of these, we can bring this course to your company’s office. You could even save up to 50% on the cost of sending delegates to a public course and dramatically increase your ROI.

    If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

    We produce learning solutions that are completely unique to your business. We’ll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.

  • We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

    We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

    • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
    • Track record – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
    • Knowledge – our 150 strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
    • Reliability – if we promise it, we deliver it. We have delivered over 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
    • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product
This course can be run as an In-house or Tailored Learning programme

Instructor

  • Mark Taylor

    Biography

    Mark spent 10 years as an FX and interest rate derivatives trader in London, Hong Kong and New York before moving into financial training. His trading experience spans vanilla and exotic products having run profitable businesses across the derivatives product spectrum.Mark graduated from the University of Bristol with a first-class degree in Aeronautical Engineering. He had a brief stint as an aerodynamicist working on military aircraft design for BAe Systems, before moving into finance, first with Deutsche Bank and then RBS. Mark held a series of senior posts initially as an FX Options Structurer progressing to MD level in the exotic interest rate derivatives tem. Mark ran the RBS interest rate derivatives portfolio in the USA from 2004 – 2008.  After leaving finance Mark bought, ran and subsequently sold a retail business; in the process developing a firsthand understanding of company valuation, accounting, as well as company financing and risk management decision making. Mark uses his experience in financial markets and the corporate world to run engaging training courses across both the markets and corporate finance disciplines. He has delivered complex learning solutions to Deutsche Bank, HSBC, RBS, Morgan Stanley, ING, Standard Chartered and Rabobank amongst others.  Mark’s training expertise includes training courses for investment and corporate bankers in the following subjects: Advanced derivatives Bonds, rates, credit markets Foreign exchange Commodities Basel 3 capital and liquidity rules (and calculations) Accountancy and financial report analysis Corporate risk management and hedging Corporate credit analysis Corporate finance, company valuation and leveraged finance These projects vary from running graduate & analyst programmes covering a broad syllabus, up to specialized advanced courses for experienced professionals.