Derivatives Advanced: A 6-Week Training and e-Learning Program
Program Details
52 e-lecturers
7 review sessions with derivatives practitioners
Exam and certificate
Language: English
Start: September 2, 2026
Uwaga! Brak wolnych miejsc.
Jeżeli chcesz wziąć udział w kolejnej edycji, napisz do nas, a my poinformujemy Cię w pierwszej kolejności o kolejnej edycji. Użyj poniższego przycisku i wyślij do nas pustego maila, w temacie wpisując: “Powiadom mnie: AI dla finansistów. Tworzenie agenta AI”.
Derivatives Master Class program ze wsparciem trenera
12 tygodni, do wyboru zajęcia jesienią lub wczesną wiosną, trenerzy z 25-letnim doświadczeniem na międzynarodowych rynkach kapitałowych.
If you are looking for a solid foundation on which to build a career in derivatives but currently have little knowledge and don’t know where to start, the Derivatives Advanced course is designed for you.
The course introduces forwards, options, and other derivative instruments in a clear yet rigorous way. Even if you already have some experience, you will gain a more intuitive and structured understanding of derivatives than you may have encountered before.
As the course progresses, the focus shifts from foundational concepts to advanced and practical applications. It examines how derivatives are used, valued, and risk-managed in both trading and investment contexts.
The course requires no advanced mathematical background yet provides sufficient quantitative insight to enable informed discussions with option traders and other derivatives specialists.
NoscoTraining is a Swiss-based financial training company with extensive international experience, working with banks, asset managers, and institutional investors. The firm also collaborates with CFA Society Switzerland and UK, delivering practical education programmes tailored to the needs of finance professionals.
The programs also benefit from a distinctly Swiss perspective. Switzerland is one of Europe’s leading centres for private banking, asset management and institutional investing, providing a valuable market context for the discussion of advanced financial instruments and risk management.
The training is delivered by Walter Braegger, PhD, former Global Head of Finance & Risk Education at UBS, and Vincent Couson, CFA, CAIA, an experienced asset management and investment advisory professional.
Course structure and time commitment
Derivatives Advanced is built around flexible, self-paced e-learning modules that you can start at any time and complete at your own pace. The course concludes with an online test and certification.
We offer a 6-week coached program several times a year, combining the e-learning with weekly live review webinars and direct access to experienced coaches.
As a guideline, to complete the course in 6-weeks, you should expect to spend around 4 hours per week on self-study.
Do you have any questions about the program? Contact us using the “Ask a question” option below, or email us at office@cfa.com.pl.
Who is this program for?
Program jest dedykowany profesjonalistom rynków finansowych, którzy chcą zdobyć zaawansowaną wiedzę na temat instrumentów pochodnych.
The training is designed for professionals from the finance and investment industry.
The program is intended for those who want to understand the practical use, valuation, and risk management of derivatives in real market contexts.
No prior knowledge of derivatives is required to participate in the course.
Advanced mathematical preparation is not required.
Participants who already have experience in this area will gain a more intuitive and structured understanding of the subject.
Benefits
- Kickstart your derivatives knowledge
The secret to derivatives is not about complicated formulas, but about understanding a few central concepts. We will explain these central ideas with very little math. You will leave this course with a solid foundation from which to wander deeper into the derivatives world. - Proven on the training floor
This course was born out of 20 years of experience on the trading floor. It has been built around practical insights that are often not included in classical derivative books. The Derivative Advanced course is an ideal preparation for the Derivatives Master Class. - Continuous education credits
This course is eligible for continuous education credit (CEC) from the Swiss certification provider SAQ. Should you require other CEC registrations, please be in touch with us.
Program
The course structure includes 11 comprehensive thematic modules and additional sessions. Each module ends with a knowledge check based on tests or practical assignments.
Module 1: Forwards
Forward contracts are the most basic financial derivatives, yet they are fundamental to understanding all other derivatives.
- What are forwards?
- Uses of forwards
- Basic forward pricing
- Cash vs. physical settlement
Module 2: Futures
Futures are the exchange-traded equivalent of forwards. Futures contracts are highly standardized and cleared through a central counterparty.
- Forward vs futures
- How futures are used
- A worked example — Lifecycle of a future
- Liquid future contracts
Module 3: Financing a trade
The ability to finance long and short positions is essential for liquid markets — especially in derivatives. Without financing, arbitrage cannot exist and the pricing relationship between spot, forwards, and options breaks down.
- Financing basics
- Repo & Securities lending
- Short selling
Module 4: Forward price
The forward price is the price agreed today for delivery of the underlying at a future point in time. But what defines the forward price? Are market makers free to set the forward price they want, or is it defined by market forces?
- Forward price and carry costs
- Arbitrage-free pricing
- Pricing equity index futures
- Pricing currency forwards
- Risk in forwards and futures
Module 5: Total return swaps
In this module we explain what total return swaps are, how they are used, priced and hedged. We end the module with a map of all instruments with the same risk as the underlying.
- Total return swaps: The mechanics
- Hedging total return swaps
- Delta one
Module 6: Option Basics
In this session, we formally introduce you to options and explain all the related jargon. The module lays the foundation on which we can then expand in the subsequent modules.
- Introduction to options
- Upside and downside
- Moneyness
- Simple option graphs
- The use of options
- The happy investor — a case study
Module 7: Volatility & Value Drivers
Moneyness, volatility and time are the key factors that drive the value of an option. This module will simplify and straighten your thinking about options.
- Parity and volatility value
- Anchor points
- What is volatility?
- Volatility and time
Module 8: Valuation & Models
Option models don’t need to be black boxes. The main principles and assumptions behind a model are often relatively simple. After working through this module, you have a better understanding of what option models do, how they work and how to use them.
- Absolute and relative valuation
- The 5-stick valuation model
- Model calibration
- 5-Stick calculator
- Valuation lab
- Extra — Black-Scholes calculator
Module 9: Put-Call Parity
Put call-parity is the most important relationship between European call and put options. It has far-reaching consequences not only for European options.
- An example to start
- Put-call parity — the facts
- Put-call parity — the trades
- A futures example
- A stock example
Module 10: Option Strategies
Option strategies are a combination of multiple option contracts tailored to capture a specific investment view.
- Option graphs
- Option strategies
- Option values before expiry
- Leverage
Module 11: Risk Measures & The Greeks
Risk measures quantify the amount of risk caused by changes in market conditions.
- Risk and risk measures
- Delta & Gamma
- Vega and volatility
- Theta and time
Upcoming Live Webinar Dates
Derivatives Advanced: From September 2 to October 14, 2026
Weekly webinars every Wednesday 12.30 – 01.30 pm CEST
- Wednesday, 2 September — Kickoff
- Wednesday, 9 September
- Wednesday, 16 September
- Wednesday, 23 September
- Wednesday, 30 September
- Wednesday, 7 October
- Wednesday, 14 October
Do you have any questions about the program? Contact us using the “Ask a question” option below, or email us at office@cfa.com.pl.
Instructors
Walter Braegger, PhD
Walter is an experienced financial trainer. Before joining NoscoPartners, Walter was the Global Head of Finance & Risk education at UBS / UBS Business University, working out of Zurich and London. He is a recognized expert in developing and delivering financial training programs and has done so for numerous clients around the globe. Walter holds a Ph.D. in Mathematics from the University of Basel.
Vincent Couson, CFA, CAIA
Vincent has extensive experience in asset management. Before joining NoscoPartners, Vincent was a Senior Member of the UBS Strategic Investment Advisory team developing tailored investment solutions for institutional clients around the globe. Prior to that he worked for UBS Asset Management in Zurich, Chicago, and London as a portfolio manager as well as an alternative investment specialist. Vincent holds a Master’s in finance & business administration from the University of Zurich. He is a Chartered Financial Analyst (CFA) as well as a Chartered Alternative Investment Analyst (CAIA).
Cost & Registration
Enroll in a rigorous and advanced training and e-learning program. Gain insights from market experts, participate in live webinars, and learn at your own pace through specialized courses. Register for the autumn edition, starting on September 2, 2026. See the Webinar Dates section for more details.
Regular price: 1,500 CHF (0% VAT for B2B customers; 23% VAT for B2C customers)
Price for active members of CFA Society Poland: With us, you receive a 15% discount on the net course fee, saving you 225 CHF. The promo code for the discounted price has been sent to members via email. If you haven’t received it, please contact us at office@cfa.com.pl. You can use it at checkout to receive a 15% discount.
Not a member? Don’t worry. If you are a CFA charterholder, join or renew your CFA Institute and CFA Society Poland membership. Apply now »
or visit the course page on the NoscoTraining website to learn more.
Koszt i rejestracja
Uwaga! Brak wolnych miejsc.
Jeżeli chcesz wziąć udział w kolejnej edycji, napisz do nas, a my poinformujemy Cię w pierwszej kolejności o kolejnej edycji. Użyj poniższego przycisku i wyślij do nas pustego maila, w temacie wpisując: “Powiadom mnie: AI dla finansistów. Tworzenie agenta AI”.
Koszt uczestnictwa w szkoleniu „AI dla finansistów. Tworzenie agenta AI” wynosi:
- dla członków CFA Society Poland 1190 PLN + VAT,
- dla osób spoza organizacji 1290 PLN + VAT,
- dla osób spoza organizacji poleconych przez członka CFA Society Poland 1190 PLN + VAT. W celu otrzymania zniżki po dokonaniu rejestracji skontaktuj się z nami pod adresem office@cfa.com.pl i podaj w treści widomości nazwisko członka CFA Society Poland, który polecił Tobie udział w naszym szkoleniu. W temacie wiadomości podaj nazwę szkolenia.
CFA Society Poland powstało w 2004 roku i jest jednym ze 157 lokalnych stowarzyszeń międzynarodowego CFA Institute. Organizacja obecna jest w 70 krajach i zrzesza ponad 200 tys. przedstawicieli branży finansowej, obecnych w ponad 164 krajach. CFA Society Poland rozpowszechnia i realizuje najwyższe standardy etyczne oraz edukacyjne w zakresie działań branży inwestycyjnej w Polsce.
Koszt i rejestracja
Udział w szkoleniu wraz z dostępem do serwisu kawowego wynosi 690 PLN + VAT.
Koszt i rejestracja
Udział w szkoleniu wraz z dostępem do serwisu kawowego wynosi 690 PLN + VAT.