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    Certificate in Fixed Income Trading and Sales

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    The CFITS will help you unlock the knowledge and skills required to enter into and progress in a variety of roles that employ fixed income.

    What will I gain with the CFITS?

    • Fixed income markets are significantly larger than equity markets in terms of the dollar volume of trading and regulators in many jurisdictions are pushing for even more robustness realizing that a well-functioning fixed-income marketplace is vital for the overall health of an economy.
    • With the CFITS in hand, individuals will be recognized for their specialized knowledge and qualifications in the basic and advanced concepts, practices and applications of fixed income whether as a trader, portfolio manager, analyst, investment banker, salesperson or issuer.
    • This training solution leverages Moody’s Analytics’ extensive experience, skill and research in fixed income which has been developed as a result of being a premier component of global financial markets for over a century.

    How is the CFITS tailored to my learning needs?

    • Consists of two eLearning modules; Fixed Income Trading and Sales (FITS) Level One and FITS Level Two
    • Estimated study time is around 50-60 hours
    • The eLearning courses are comprised of a wide variety of fixed income topics including organization of the fixed income market place, yield and duration calculations, trading strategies, credit rating techniques, high-yield bonds, securitization and fixed income hedge strategies
    • Provides recognition for each module following completion of the module's online test, through the issuance of Moody’s Notice of Completion that is emailed to students
    • Course Materials can be easily accessed and studied through mobile devices
    • Final proctored exam is 3 hours in length and will be offered to those who have completed the eLearning modules

    About CFITS

      The Certificate in Fixed Income Trading and Sales consists of a Fixed Income Trading and Sales Level 1 and Level 2 modules and a final certification exam. Below is a breakdown of the topic areas for each of the modules:

      1. Fixed Income Trading and Sales Level 1

    • Fixed income marketplace
    • Basic features and terminology of fixed income
    • Organization of the fixed income marketplace
    • Determinants of the general level of interest rates
    • Determinants of individual fixed income yields
    • Price and yield calculations
    • Bond prices, duration and convexity
    • Corporate credit analysis
    • Fixed income trading and sales structure and participants
    • 2. Fixed Income Trading and Sales Level 2

    • Bond trading strategies
    • Credit rating methodology
    • Fixed income covenants
    • High yield bonds
    • Interest rate derivatives
    • Securitization
    • Investing in fixed Income mutual funds
    • Fixed income ETFs
    • Equity linked debt securities
    • Fixed income hedge fund strategies
    • Fixed Income Performance Portfolio Performance Attribution

    Who is Taking CFITS?

    • Retail and Institutional Salespersons
    • Trading desk professionals
    • Research Analysts
    • Investment Bankers
    • Conventional & Alternative Portfolio Managers
    • Issuers
    • Investors

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