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Introduction to Derivatives by
Bahattin Büyükşahin
About the Instructor
Bahattin Büyükşahin has over 15 years of experience in financial oil and energy markets covering the spectrum of energy derivatives markets, including financialization of commodities, the impact of financial market participants on energy price formation and volatility, the evolving regulatory framework and its effect on the structure and functioning of both the energy futures and physical markets, as well as the likely cost and benefits of proposed regulations.
Bahattin Büyükşahin holds a Ph.D. in Economics from American University, Washington D.C.
Syllabus and Materials
Week 1: June 8, 2020 - Overview of Derivatives Markets
Mechanics of the Derivatives Markets What They Are and How They Function
Who are the Market Participants?
Why do Market Participants use Derivatives?
Exchange versus Over the Counter Markets
Risk Transfer and Price Discovery
Week 2: June 15, 2020 - Derivatives Products: Forwards
What is a Forward?
Use of Forwards
Advantages and Disadvantages of Forwards
Pricing of Forwards
Week 3: June 22, 2020 - Derivatives Products: Futures
What is a Future?
Contract Specifications
Clearinghouse Margins
Settlement Price, Volume and Open Interests in Futures Markets
Types of Orders
Uses of Futures / Hedging using Futures Contracts
Basis Risk
Week 4: June 29, 2020 - Derivatives Products: Swaps
What is a Swap?
Mechanics of Swaps
Advantages and Disadvantages of Swaps
Hedging using Swaps
Week 5: July 6, 2020 - Options
Mechanics of Call and Put Options
Moneyness of Options
Hedging using Options
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