Derivatives Master Class: A 12-Week Advanced Training and e-Learning Program
Program Details
52 e-lecturers
7 review sessions with derivatives practitioners
Exam and certificate
Language: English
Start: September 1, 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 already have derivative experience but want to take the next step, this is the program to become a real master and boost your career. But be informed that this is a challenging 12-week program where we will go into the details.
The Derivatives Master Class (DMC) has been developed and applied over many years to train derivative traders and derivative sales of a large investment bank. It is now available online to a broader audience. Participants will learn more about how derivatives are used in the different markets and by various clients, how they are risk managed by banks, modelled, and priced in the academic world and in real life.
Course structure and time commitment
Derivatives Master 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 12-week coached program several times a year, combining the e-learning with bi-weekly live review webinars and direct access to experienced coaches. As a guideline, to complete the course in 12-weeks you should expect to spend around 4-5 hours per week.
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 other CFA Societies, delivering practical education programmes tailored to the needs of finance professionals.
Its approach combines financial expertise, business experience, and applied training skills. Drawing on many years of work on both the business and education sides of a major global bank, NoscoTraining places strong emphasis on client needs, practical relevance, and implementation, while maintaining a rigorous theoretical foundation.
The programmes 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.
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?
The program is designed for financial market professionals seeking advanced knowledge of derivative instruments.
Participant Profile: Practitioners who interact with futures and options markets in their daily work.
Prerequisites: A solid understanding of derivatives fundamentals (prior completion of the Derivatives Advanced course is recommended).
Commitment: The training is demanding and comprehensive. If you are committed to genuinely upgrading your skills, be prepared to invest approximately 4–5 hours of study per week over the 12 weeks.
Benefits
The training provides practical analytical and optimization tools, enabling a deeper understanding of market mechanisms, including derivative instruments.
- You will explore how various institutions utilize derivatives, how investment banks manage risk, and the valuation methods applied in the real-world financial sector.
- The program combines the flexibility of self-paced e-learning modules with interactive, bi-weekly live webinars.
- Throughout the entire 12-week cycle, you will receive direct support from market practitioners with 25 years of capital market experience.
- The course concludes with a final test and certification. The program is accredited by the Swiss Association for Quality (SAQ) and grants 60 hours of continuing professional development (CPD).
What You Will Learn
The course structure includes 7 comprehensive modules and additional sessions. Each module concludes with a knowledge check based on tests or practical exercises.
Module 1: Derivatives Toolkit
This module reviews the main derivative instruments and core concepts that participants are expected to be familiar with. It is intended as a refresher, and we recommend completing it before starting the Master Class.
- Futures and forwards
- Options & value drivers
- Relative Value
- Risk Measures and the Greeks
- Option Strategies
Moduł 2: Models & Valuation
Option valuation models are not just tools for pricing options; they provide valuable insights into the inner workings of options.
- Risk-neutral valuation
- Binomial model
- Black-Scholes
- Normal and lognormal
- How to get to an option value
Module 3: Volatility and Volatility Markets
Volatility plays a central and subtle role in option valuation. It measures price fluctuations of the underlying, which create option value. Implied volatility reflects option prices and leads to the volatility smile.
- Volatility basics
- Realized volatility
- Uncertainty & distributions
- Implied volatility
- Implied vs. realized volatility
Module 4: Option Graphs
Option models link market parameters to option values, but formulas are hard to grasp intuitively. Graphs help visualize option behavior and make these relationships easier to understand.
- The theoretical value (TV) graph
- Hedging the delta risk of your option
- Graphing the Greeks
- Hedging volatility risk
Module 5: American Options and Early Exercise
Equity options are usually American style, allowing early exercise. This module explains why early exercise can matter, when it is optimal, and how the value of an American option compares to a European option.
- American basics
- American equity options
- Model DIY workshop
- American vs European
- American options: The graphs
Module 6: Investor Strategies
Many investment strategies use options to shape the risk-return profile. This module reviews common strategies, how derivatives change returns, and how to measure the benefits of asymmetric payoff structures.
- Investors
- Investment characteristics
- Yield enhancement and optimization
- Capital protection: Worked examples
Module 7: Currency management and FX derivatives
Currency risk is the inevitable byproduct of international trading and investing. We investigate how FX exposure can be managed using forward, vanilla options or more exotic derivatives.
- FX warm-up
- Foreign investments and return attribution
- The impact of FX hedging
- FX Vanilla Options
- Barrier options and corporate hedging
Upcoming Live Webinar Dates
Master Class: From September 1 to November 24, 2026
Bi-weekly webinars on Tuesdays 12.30 – 02.00 pm CEST/CET.
- Tuesday, 1 September — Kickoff
- Tuesday, 15 September
- Tuesday, 29 September
- Tuesday, 13 October
- Tuesday, 27 October
- Tuesday, 10 November
- Tuesday, 24 November
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 1, 2026. See the Webinar Dates section for more details.
Regular price: 3,000 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 450 CHF.
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 »
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.
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.
Koszt i rejestracja
Udział w szkoleniu wraz z dostępem do serwisu kawowego wynosi 690 PLN + VAT.
CFA Society Poland was founded in 2004 and is one of the 157 local societies of the international CFA Institute. The organization is present in 70 countries and brings together nearly 200,000 finance professionals across more than 164 countries. CFA Society Poland promotes and implements the highest ethical and educational standards in the investment industry in Poland.