How The Financial Markets Work
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PROGRAM OUTLINE for this 3 day course in English

Strip away the mystique of the world of markets and investments and gain full insight into the origins of these markets. Learn about the key concepts and the structure of capital markets, the key players, the role of the regulatory institutions, the financial instruments, the risk and derivatives.

On a daily basis we are overwhelmed with news and from a publisher’s perspective, is that they’re addictive. A story which doesn’t unfold, all in one, goes like a novel and fills in, bit by bit over days.
The story of financial markets, as presented in various media, is like that.  Every day we get a few disjointed pieces of information and for some reason they rarely add up to a practical market principles, like diversification or the understanding of markets and efficiency. 

In order to manage your business, it is vital that strategies and plans can be developed with realistic prospects of success.

You will learn tools and frameworks to help understand and predict the medium- to long-run performance of economies to mitigate risk, develop growth plans, and make decisions, both locally and abroad. Participants will leave the program with a better understanding of the global economic environment, global market strategy, macroeconomics, and how these things impact their company and their business decisions.

The 3 days are designed to remove the confusion that often surrounds the financial markets. It looks at markets from a global perspective and helps you to understand the drivers, companies and products that influence them.

You will gain full insight into the origins of the capital markets, key theory, the key players and the role of the regulatory institutions. We study the main financial products and the uses and abuses of derivatives.

We will explore:

  • What makes up a market, where is the market, is the market attractive, where does the market exist and in which form? 
  • The fundamentals of financial markets and key theory
  • The Issuers and borrowers of funds
  • The key players in the financial markets including issuers, investors and intermediaries
  • The key features of both equity and debt products
  • What we mean by systematic and unsystematic risk 
  • The structure of the FX market
  • The derivative markets including futures, options and swaps. 
  • The role of commercial and investment banks
  • Market regulation and monitoring
  • Global market risk and instrument risk
  • Introduction to qualitative and quantitative measures

Recommend background

This course is designed for all professionals directly or indirectly involved in financial markets or decision making in these markets either internally or externally and wanting to broaden their perspectives by adding international capital market, finance knowledge and wider management skills.

What you will learn

The course covers the entire spectrum of capital markets, detailing all the main principles and explaining all the jargon used. You will learn principles of market efficiency, how the markets behaved in a pre and post credit crunch, and how they have been affected by the cycle of economic slowdown and recovery. Learn the different types of financial instruments, how the different actors behave in the market and how to assess and minimise risk based on your own expectations.

Course format

Practice-based learning and critical engagement is a key theme through all our courses allowing delegates to acquire the needed skills and techniques to be applied as soon as they are learned and developed.

Course Video


Day 1:


The Fundamentals of markets:

  • Investors and Expectations
  • The Borrowers, perspective and leverage
  • The Time Value of Money
  • Discounted Cash flows
  • National and Global Economies
  • Perfect Markets
  • Efficient Markets
  • Inefficiency and Market Bubbles
  • Portfolio Theory
  • Risk Versus Return


Issuers and Borrowers of Funds: 

  • Exploring the role and function of governments, corporate (Domestic and International), municipals, supranational organisations, financial Institutions and agencies. 


The Investors of Funds: 

  • Exploring the role and function as investors of corporate , pension funds, asset managers, insurance companies, hedge funds, money Managers, commercial and central banks, governments and private individuals 


Day 2:


The core financial instruments: 

  • What makes up the market? 
  • Which financial instruments are available 
  • What are the characteristics of each financial instrument and associated risk?
  • Equity, debt (bonds and notes), convertibles, loans, CD's and CP, currencies, foreign exchange and securitised instruments


The Derivatives:

  • Exploring the use of forwards contracts, future contracts, options, SWAPS and credit default swaps


World Exchanges and Financial Markets: 

  • What are the main characteristics, size and associated risk of global equity markets, fixed income markets, global money markets, foreign exchange markets, derivatives market, commodities markets and the real estate market? 


Role of Commercial and Investment Banks:

  • Understanding the key players and their actions. 
  • The role of commercial banks, spreads commission and fees, credit pricing models, investment banks, market making, trading and broking, custody and operations


Day 3:


Global Market Risk and Instrument Risk: 

  • What drives the market?
  • Which are the global risk factors
  • What is market risk, industry risk and instrument risk?


Market Regulation and Monitoring:

  • Global Regulatory Institutions and their function
  • Basel III and banking
  • Banking Regulation and the Front, Middle and Back office perspective
  • IFRS and the corporate
  • The role of the auditors


The Corporate Life Cycle and Market Interaction:

  • The search for value
  • The Debt / Equity structure
  • Corporate Governance
  • Agency Theory
  • The Dividend Policy
  • IPOs and private placements
  • Subscriptions, general cash offers, stock splits and scrip issues


Introduction to Qualitative Analysis 

  • Exploring qualitative measures determining value. 
  • Equity and company valuation
  • Forecasting earnings
  • Equity risk premiums


Introduction to Quantitative Measures 

  • Exploring quantitative measures determining value. 
  • Statistical measures and market returns
  • Correlation and Regression
  • Time series Analysis
  • Portfolio Concepts



Participant feedback

*** I strongly recommended this training to my colleagues as I found it very useful.

*** I think this was one of the best course I've ever attended. The trainer,  was extremely pedagogic and the structure of the course was very well planned with just the right mixture of theory versus practical examples and exercises.

*** It was a very enjoyable course. The group was small which made it easier to be 100% involved.  The exercises and case study were absolutely great and necessary to put the theory in practice. A very knowledgeable teacher.

*** It was nice to have a lecturer with profound knowledge on the topic so that the level of discussion could go further than the simple basics of valuation.

Learn the way that suits you most!

Course Lecturers

Kris De Clercq, MBA

Kris has lectured finance to managers for more than 25 years in Europe and Eastern Europe. His teaching as an associate for a UK based global business school included “Issues in International Finance and Investments”,” Corporate Finance” and “Issues in IFRS”. His industry experience is over 20 years working for asset managers, investment banks, global custodians in the UK, Luxembourg and Belgium. He received a universities award for innovation in finance teaching and learning.  

Dr. Johannes Hofinger, MBA, FRM

Dr. Johannes Hofinger is specialized in Risk Management, Basel III, IFRS and regulatory reporting. His professional skills are reinforced by strong academic roots. He lectures for global business schools in corporate finance, managerial accounting and financial reporting. The main roles undertaken are lecturing, consulting and project management.  

Not convinced yet? Register to one of our "Free Online Open Event".
If none listed, request a seminar or personal talk

Books we studied for you

Financial Markets and Institutions - Mishkin Frederic
Financial Markets and Institutions - Mishkin Frederic

This title is part of a new Pearson program pilot offering students the option to rent a print textbook for fall 2017. By having affordable access to the best learning materials and experiences from day-one, students come to class prepared and ready to succeed. Additional details on the rental program will be coming soon. For courses in financial markets. Real-world applications help students navigate the shifting financial landscape Financial Markets and Institutions takes a practical approach to the changing landscape of financial markets and institutions. Best-selling authors Frederic S. Mishkin and Stanley G. Eakins use core principles to introduce students to topics, then examine these models with real-world scenarios. Empirical applications of themes help students develop essential critical-thinking and problem-solving skills, preparing them for future careers in business and finance. The 9th Edition combines the latest, most relevant information and policies with the authors' hallmark pedagogy to give instructors a refined tool to improve the learning experience.  

Life in the Financial Markets: How They Really Work And Why They Matter To You - Daniel Lacalle
Life in the Financial Markets: How They Really Work And Why They Matter To You - Daniel Lacalle

Life in the Financial Markets—How They Really Work And Why They Matter To You offers the financial services professional, and anyone interested in knowing more about the profession, an entertaining and comprehensive analysis of the financial markets and the financial services industry. Written by Daniel Lacalle—a noted portfolio manager with EcoFin and well-known media personality—the book goes beyond a simple summary and offers solid advice on the future of the global financial markets. This great resource also includes a review of effective strategies and forecasts the trends that represent potential opportunities for investors.  

The Economics of Money, Banking, and Financial Markets, Global Edition - Frederic S. Mishkin
The Economics of Money, Banking, and Financial Markets, Global Edition - Frederic S. Mishkin

For courses in money and banking, or general economics. A unified framework for understanding financial marketsThe Economics of Money, Banking and Financial Markets brings a fresh perspective to today's major questions surrounding financial policy. Influenced by his term as Governor of the Federal Reserve, Frederic Mishkin offers students a unique viewpoint and informed insight into the monetary policy process, the regulation and supervision of the financial system, and the internationalization of financial markets. The 12th Edition, Global Edition, provides a unifying, analytic framework for learning that fits a wide variety of syllabi. Core economic principles and real-world examples organize students' thinking and keeps them motivated.  

Companies who attended our courses


AG Insurance
Allianz Benelux
Argenta NV
AXA Belgium
Baloise Insurance
Banca Monte Paschi Belgio S.A.
Bank De Groof
Banking Association (Kosovo)
Belfius Investment Partners
BNP Paribas Fortis
Bpost Bank
Buy Way
CBC Bank
Celio Finance SPRL
Delen Private Bank
Delta Lloyd Life
Deutsche Bank AG
DKV Belgium
Ethias SA
Euler Hermes Services
Euroclear Bank SA/NV
Euroclear Investments
Europ Assistance
European Investment Bank - EIB (Luxembourg)
European Union - EDFIMC / ElectriFI
Flanders Investment & Trade
Gras Savoye Belgium
Incofin Investment Management
ING Bank België
KBC Bank
Ministry of European Integration (Kosovo)
National Bank of Belgium
NN Insurance Belgium
Record Bank
Société Générale Private Banking
The Royal Bank of Scotland (RBS)
Triodos Bank
VGD International -Audit & Tax
Wolters Kluwer Financial Services
Zurich Insurance plc, Belgium branch
Vanbreda International
Afton Chemical SPRL
Air Liquide
Allnex Belgium SA/NV
ANL Plastics
Arcelor Mittal ( Belgium & Luxembourg)
Axalta Coating Systems 
BASF Antwerpen
BASF Belgium Coordination Center
Beaulieu International Group
Borealis Polymers NV
Bridgestone Europe SA
CNH Industrial Belgium NV
Cofely Fabricom
Cytec Belgium
DOMO Chemicals (Germany)
Dow Corning
Electrolux Appliances AB - EMA- EMEA (SEE)
Engineered Pressure Systems International
European Owens Corning Fiberglas
Fost Plus
GDF Suez
Griffith Foods
Hamon & Cie
Heraeus Electro-Nite International NV
Jacobs Belgium
Milliken Europe
Niko Group
NXP Semiconductors - Prodis  (Netherlands)
SPX Cooling Technologies
Synventive Molding Solutions (Germany)
Vinçotte International
VPK Packaging Group NV
Yara Belgium NV
Antwerp World Diamond Centre
AVEVE Biochem NV
Carrefour Belgium
Delhaize Corporate Group
Abbott Logistics B.V. (Netherlands)
AbbVie (Canada)
Agfa HealthCare NV
AZ Sint-Blasius
Baxter International (Austria)
Catalent Pharma Solutions
CinnaGen (Tehran)
Datwyler Pharma Packaging International
Groep OZ ESV
Landelijke Christelijke mutualiteit (LCM)
Mutualités Libres: MLOZ
Novartis Pharma
SA Bristol- Myers Squibb Belgium NV
Stryker (Netherlands)
Terumo BCT Europe NV
Zorgbedrijf Antwerpen
AW Europe
Belgian Nuclear Research Centre (SCK-CEN)
Corelio Printing
De Persgroep Publishing nv
EDF Luminus
Elia System Operator
Engie Electrabel NV/SA
Eni Gas & power
Fluxys Belgium
Itineris NV
Agentschap Innoveren en Ondernemen
Europees Parlement
Ministry of European Integration
National Agency for Protection of Personal Data
Nationale Loterij
SD Diensten NV (SD Worx)
SESAR Joint Undertaking
Stad Antwerpen
Stadsbestuur Harelbeke
Syntra Brussel
UGent - FBW
Vrije Universiteit Brussel (VUB)
Acturus sprl
ARC Europe
BIA Africa
Bia Overseas
Brooser BE Operations 
Cipal Schaubroeck
Computer Task Group
Deloitte Accountancy
Egemin International
Enhesa International
FIS (former Clear2Pay)
Interel Group
K&L Gates
Matexi NV
Pricewaterhouse Coopers
PwC Tax Consultants
Vinçotte International sa
Alstom Belgium
ARC Europe 
Brussels Airport Company
De Lijn
D'Ieteren Auto
Gemeentelijk Havenbedrijf Antwerpen
Globachem nv
GSC Greensea Chartering 
HONDA Motor Logistics
Neovia Logistics
PSA Antwerp nv
Retail & Wholesale
Seatrade Reefer Chartering
Thalys International
Trimble T&L
Volkswagen Group Services
Wallenius Wilhelmsen Logistics Zeebrugge NV
Witzenmann Benelux nv

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