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    Certificate in Fixed Income Trading and Sales (CFITS)

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    Prepare for opportunities in fixed income through a globally recognized credential

    What will I learn with the CFITS?

    • Identify a variety of business, financial, and compliance risks when selling or managing fixed-income investments.
    • Analyze fixed income market trends using technical analysis.
    • How to measure and mitigate fixed income market risk.
    • Understand the competitor/co-operator nature of the trading process.
    • Demonstrate active fixed-income portfolio management strategies.
    • Calculate bond price changes, given changes in duration and convexity.
    • Understand how mortgage-backed securities (MBS) work.
    • Utilize fixed-income derivatives to trade and manage risk.

    How is the CFITS tailored to my learning needs?

    • CFITS consists of two eLearning modules and a final certification exam.
    • Each module includes an online quiz to test your understanding of the course content.
    • You’ll earn Moody’s Notice of Completion on completion of each module.
    • You can access the course material through mobile devices.
    • Complete a 3-hour proctored certification exam to earn the CFITS certificate.
    • The estimated study time ranges from 50 to 60 hours.

    About CFITS

      The Certificate in Fixed Income Trading and Sales comprises of two modules and a final certification exam. Below is an outline of the topics covered in each module:

      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.
    • Calculate bond prices, duration and convexity.
    • Corporate credit analysis.
    • Structure and participants of fixed-income trading and sales.
    • 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 & Institutional Salespersons
    • Trading Desk Professionals
    • Research Analysts
    • Investment Bankers
    • Conventional & Alternative Portfolio Managers
    • Issuers
    • Investors

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