Présentation du programme certifiant CMF @ UNC : pour tout savoir sur les marchés de capitaux.

1. UNC Capital Markets Certificate
100 days, endless dividends

2. TITRE
2
UNC Capital Markets Certificate
 The oldest public university in the United States, University of North
Carolina at Chapel Hill was founded in 1789. Its business school (Kenan-
Flagler) dates back to 1919 and has over 35,000 graduates in 81 different
countries. Kenan-Flagler enjoys an international reputation as one of the
top 20 business schools worldwide and has been recognized as the 11th
best business school in the US by Bloomberg BusinessWeek and the #1
Online MBA program by US News and World Report.
Graduates from across degree programs are recognized as leaders in the
financial services industry.
 FIRST FINANCE Institute (FFI) is the leading enabler of online education
programs for premier business schools worldwide.
FFI empowers its business school partners to capitalize on the growing
demand for 100% online programs offered by top-tier academic institutions.
The programs we enable are characterized by their dynamic, well-produced
video content, asynchronous and synchronous learning environments, high
level of social learning and a rigorous final examination. To reflect
marketplace demands all the courses we develop are taught by subject
matter experts and emphasize practical application rather than theory.
Since 2013 more than 100,000 students from 30 different countries have
enrolled in our online courses.
 UNC and FFI have partnered to launch a brand new Online Certification
Program in Capital Markets.

3. TITRE
3
Key Features
What is it?
 New - and first of its kind - online curriculum made up of 3 courses (4 weeks each)
 Covering fundamentals of capital markets, fixed income products and foreign exchange products
 Taught by Wall Street veterans Stephen L. Weiss and Shelly Lombard and distinguished UNC Kenan-Flagler
Business School faculty Gregory Brown and Christian Lundblad
 Concluded by the Certificate in Capital Market Foundations exam from FIRST FINANCE Institute
An innovative digital program targeting students and executives
willing to conveniently and effectively learn financial markets
essentials, develop their professional expertise and earn a valuable
credential from a top-ranked Business School.
For whom?
 The program is open to anyone interested in developing a strong foundational understanding of capital
markets, either beginning a career search, exploring new options or just looking to update core knowledge of
financial services:
 Students looking for real-world financial training, recognition for the competencies gained and “resume
boosting”
 Executives willing to upgrade or refresh their professional skills: Junior Front Office / Middle & Back
Office / Capital Markets ITO / Wealth & Asset Managers / Marketing / Support Functions

4. TITRE
4
Key Benefits
 Innovative Curriculum focusing on operational skills rather than theoretical knowledge: developed jointly by
UNC Kenan-Flagler's world-class faculty in collaboration with FIRST FINANCE Institute.
 Unlike traditional e-learning (usually cold, top down and... boring!), is based on a collaborative and community-
based pedagogy to foster learners' engagement and knowledge acquisition.
 Convenient online learning experience offering the flexibility to study anytime and anywhere - only a high-
speed internet connection and web-enabled device are needed.
 UNC recognition providing participants who successfully complete the program a great credential to add to
their resume and LinkedIn profiles.
 Develops professional expertise in just 100 days.

5. TITRE
5
Program Overview
 Course 1: Introduction to Capital Markets
 Course 2: Fixed Income Markets
 Course 3: Foreign Exchange Markets
 Each of the three courses takes an average of 20 hours to complete (five hours per week for each four-week
course). Students will spend approximately 70 to 90 hours to complete the entire UNC certification program,
including preparation for the final exam.
 All of the three courses count as 55% of the overall program grade. The final exam incorporates content from
each of the three courses and counts as the remaining 45% of the grade.
 The online curriculum provides a highly interactive learning experience to maximise knowledge retention:
 Quizzes
 Graded exercises
 Discussion board
 Video chats
 Weekly live sessions with learners and instructors
 The online certification program includes three courses designed to
prepare and position students and working professionals for success in
the financial services industry:

6. TITRE
6
INTRODUCTION TO CAPITAL MARKETS FIXED INCOME MARKETS FOREIGN EXCHANGE (FX)
MARKETS
WEEK 1 Macroeconomic environment and capital markets, stocks &
economic environment:
- Role of the financial markets
- Economic policy
- Main economic indicators
Equity:
- Ordinary shares
- Stock market indices
- Equity Valuation
Money Markets:
- Relationship between macroeconomics and interest
rates
- Monetary policy of central banks
- Unsecured loans
- Secured loans
- Day count factors and Business day conventions
- Term structure of interest rates
- FRA and STIR
Introduction to the Foreign Exchange market:
- Specifics of the FX market
- Cross rates
- Monetary policies
- Chinese currencies
- Settlement
WEEK 2 Role of key players in financial markets
Main economic players:
- Governments / Central Banks / Banks and Asset
Managers / Households / Corporates
Buy-side key players:
- Definition
- Non-financial companies / Retirement funds / Insurers
and mutual societies / Asset Managers
Fundamental Notions:
- Asset classes / Spot and forward / Vanilla derivatives
Bond markets
- What is a bond?
- Origination
- Price quotation & accrued interest
- Credit spreads & ratings
- Rating agencies & credit ratings
- Credit Sefault Swaps
- Other types of bonds
Discounting cash flows:
- Forward FX
- Non Deliverable Forward
- FX swaps
- Advantages of FX swaps
WEEK 3 Options:
- Profit and loss on options
- Using options
- Options strategies
Factors influencing the value of options:
- Variation of underlying
- Strike
- Time
- Volatility
Pricing:
- Time value of money, discounting cash flows
- Pricing of a fixed-rate bond
- Yield to maturity
- Zero-coupon bonds
- Bond price analysis
- Duration
- Other sensitivities
- Bond Management strategies
FX Options:
- Principles of moneyness and valuation
- Valuation of FX Options, Black and Scholes and
Monte Carlo
- Hedging the FX risk
WEEK 4 Fixed Income Products, Discounting cash flows
Fixed Income:
- Overview
- Fixed-rate government bonds
- Bond valuation principles
- Interest rate risk
Credit products:
- Credit Risk
- Rating agencies
- Credit spread
Fixed income derivatives:
- Characteristics and uses of bond futures
- Pricing principles for bond futures
- Characteristics and uses of Interest Rate Swaps
- Discount factors and forward rates
- Pricing principles for Interest Rate Swaps
- Building an Asset Swap
- Calculating I-Spread, Z-Spread, and Asset Swap
Spread
Conclusion
The Greeks:
- Delta neutral management
- Option strategies
- Exotic options
- Volatility smile
Conclusion
Content
6

7. TITRE
7
Practical details
Dates:
 2015:
 Cohort 1 begins on May 18, 2015 and runs till August 16th 2015
 Cohort 2 begins on September 14th, 2015 and runs till December 6th, 2015
 2016 onwards:
 The program will be run on a quarterly basis, so 4 intakes a year
Cost:
Retail Unit Price
2,500 USD
Corporate Packages
10 (min)-24 USD 2,250
25-49 USD 2,000
50-99 USD 1,750
100+ USD 1,500
The total cost includes 90-hours of learning.
Students will not need to purchase additional books
or materials to complete the certification program.
The curriculum includes:
• Three required courses
• Printable learning aids
• Printable course summaries
• Unlimited access to qualified teaching assistants

8. TITRE
8
Thanks for your interest