The world’s debt markets dwarf the equity markets. Everyone from national governments and multilateral institutions to large corporations and even city councils issue bonds.
An army of skilled finance professionals handle the issuance of these bonds in the primary market and their subsequent trading in the secondary market. Additionally, you have bankers dealing with the risk aspects, derivatives, hedging, legal and documentation aspects etc.
All of these careers require different personality types and skillsets. But there is one thing in common – a deep understanding of bonds. And this list of specially selected courses will teach you all that you need to know about them.
1. Fixed Income Markets Certification (FIMC©) from Wall Street Prep
Who is this for?
Fixed Income professionals and aspirants. Recommended for both buy and sell side.
Course Review
Fixed income is something a lot of finance students struggle with. Its partly because its not as intuitive as equities and partly because it requires some more complex mathematical modelling. However, its a topic that has always been of great interest to me and I recently took Wall Street Prep’s Fixed Income Markets Certification (FIMC) to see how it stacks up.
This is a comprehensive course that dives deep into a topic that usually does not get much coverage in other finance courses. The theory in fixed income is hard enough but what really makes it a challenging topic is all the jargon. I still remember most fixed income core concepts from 10 years but there are so many conventions and shorthands in fixed income that theoretical courses simply do not cover. This course really clears all that up as it is clearly designed from a practical, desk-ready mindset instead of just academic theory.
It begins with an introduction to the bonds markets and then dives into money markets, corporate bonds, mortgagee and asset backed securities, government bonds and even the more recent green and social bonds. As I said, I know bond theory pretty well but even I was thrown back by all the bond specific jargon that was in here which just drives home the importance of practical learning.
This is a course that is made by bankers for bankers. WSP trains bankers at some of the worlds top investment banks and it shows. This is the same course that they are taught and here is an opportunity for you to take your learning to that level. Highly recompensed.
Click here and use code BANKERS for a 15% discount on Wall Street Prep!
Summary
| Duration | Around 25 hours |
| Format | Fully online, on-demand. |
| Level | Intermediate |
2. Fixed Income Professional Certificate from the New York Institute of Finance
Who is this for?
Best suited for fixed income professionals from DCM bankers to bond traders to derivative structurers.
Course Review
This course has been custom built for the Fixed Income Professionals. It is the most comprehensive course available on the subject and it will get you desk-ready for most roles in fixed income or debt markets.
The course focused hard on bond pricing and valuation. All types of fixed income securities are looked at including annuities, perpetuities, zero coupon bonds, sovereign bonds across the US, EU, UK, Canada and Japan, corporate bonds, repo and reverse repo arrangements. Then you have the derivatives like interest rate derivatives, swaptions, treasury futures, CDS, asset swaps, MBS and dozens of others.
And I have not even touched upon the mathematics part like yield curve shifts, trading strategies, term structures, risk measurement and so on. There is even a section on desk-ready skills. This is as good as it gets.
The New York Institute of Finance has been training bankers and traders for almost a century now. This formal certification is going to add a lot of value to your CV and make you stand out. While no certification alone can guarantee any outcome, this certification is, in my opinion, your best bet to outshine your competition in a rather competitive and crowded field.
Check Course Curriculum and Enroll Now
Summary
| Duration | Around 30-35 hours |
| Format | Fully online, on-demand. |
| Level | Intermediate |
Note: There is another, more advanced follow-up course to this one and I recommend it for more senior or more technical roles only. Ideally, you should take it after completing the first one. The focus of this second course is on interest rate modeling and valuation of interest rate derivatives.
3. The FICC Trader from Financial Edge
(Note: Use code BBD25 to get 25% at Financial Edge)
Course Review
Financial Edge is well known for training staff at some of the worlds top investment banks. They provide courses and in-house training sessions for bankers are well known and respected in the industry. So when I found out that they have started offering the same courses online to users anywhere in the world, I had to check them out for myself. And suffice to say, I was not disappointing.
FE have managed to put the same quality into the online version of their courses as they do for their in-house training sessions. In fact, in some ways it is better as there are fewer interruptions and distractions. The same industry veterans are the ones who have designed the courses and deliver it via videos, presentation slides and other means like practical exercises and quizzes. The quality of the content is excellent with a well structured and comprehensive curriculum and excellent content delivery.
The FICC Trader course covers fixed income mostly with a few chapters on currencies and commodities too. All these asset classes are usually grouped into the same business unit at most banks so it makes sense to do it this way. Topic coverage is pretty expansive with US government markets, TIPS, zero coupon bonds, European government bonds, Gilts, Asian bonds, central bank activity and yield curves forming part of the first module on sovereign markets.
The second module covers credit market sand produces like credit ratings, spreads, corporate bond markets, special bond types like puttbale/ callable etc., and some insights into the DCM bond trading desks. Fixed income derivatives are also covered with options, forwards, swaps, futures, swaptions, CDS and all that other juicy stuff. lastly, there is a detailed discussion on collateral management and credit risk which is a crucial topic when discussing bonds.
Click here and use code BBD25 for a 25% discount on all Financial Edge courses!
Summary
| Duration | Around 6-8 hours |
| Format | Fully online, on-demand. |
| Level | Intermediate |
4. Capital Markets & Securities Analyst (CMSA) from CFI
Course Review
The CMSA is an advanced Capital Markets certification and one of the few that focuses on capital markets specifically. CFI has build good brand recognition for its certifications over the years and this should help you signal your expertise to others.
There are several core modules that focus on fixed income and other capital market instruments but the best part is you can tailor some of your electives to focus even more on fixed income and bonds. Elective courses include topics on Applied Fixed Income, Advanced Fixed Income, High Yield Bonds, Subordinated Debt and Loans, Convertible Bonds, Short Duration products, Credit Fixed Income, Securitized products, Repos and a lot of other juicy stuff with top class presentation and execution.
There is a lot of value here with almost hundreds of videos, interactive exercises. quizzes, assignments, financial models, templates, and online lessons to help you really grasp the topics. The content is delivered by experts in the field and this is a great opportunity for some solid CV building for Fixed Income related roles in addition to cementing your understanding of the topics.
Click here and use code BBD10 for 10% off on this course!
Summary
- Time to Complete: Should take around 60-100 hours.
- Course is available fully online and on-demand. Complete it at your own pace.
5. Capital Markets Professional Certificate from the New York Institute of Finance
Course Review
This course has been designed for capital markets professionals and focuses both on debt and equity capital markets. It is ideal for analysts or interns looking to break into Debt Capital Market roles, bond trading, or other fixed income related roles.
The course starts with an introduction to capital markets including issuance risks, regulations and valuations. There is also a focus bond structuring, pricing and on credit derivatives. All of this is topped off by an examination which must be cleared to earn your professional certification.
NYIF is a great band to have on your CV. Use this certification to boost your CV and showcase your interest in capital markets to potential recruiters.
Summary
- Should take around 35 hours.
- Course is available fully online and on-demand. Complete it at your own pace.
- An introductory course for Capital Market Professionals.
6. Fixed Income Securities on Udemy
Course Review
This a short course designed to quickly present relevant fixed income topics in a condensed yet easy to understand format.
Take this course if you need to quickly brush up your understanding of the topic but don’t really the need the value additional of a formal industry certification like the ones mentioned above.
Covers all the basics like bond characteristics, yield curves, all types of different fixed income instruments like government securities, corporate bonds, munis, corporate bonds, derivatives like CDOs, CMOs etc.
Summary
- About 4-5 hours.
- Available online and on demand.
- Recommended for beginners only.
7. School of Bonds & Fixed Income Products from Euromoney Finance
Course Review
Another great course that covers most bond topics like yield curve analysis, securitisations, asset backed securities, bond pricing, interest rate and currency swaps, repo markets, and all the usual bond stuff.
Euromoney Learning has created an excellent stable of courses designed for seasoned professionals. The course is taught by industry experts and the quality of learning is apparent to everyone in the industry.
This is a strategic level course and I recommend it for all fixed income professionals who can secure corporate sponsorship to attend it.
Summary
- This is a 5-day course.
- Available online or in-house but only on pre-specified dates.
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