Who Should Join (Target Audience)

This program is ideal for:

• Students pursuing CFA / FRM / MBA (Finance)

• Individuals aspiring to work in:

  • Risk Management roles
  • Treasury / ALM desks
  • Derivatives trading desks
  • Pricing & structuring teams
  • Broking & dealing rooms

• Professionals who want to:

  • Learn hedging strategies
  • Understand volatility & derivatives deeply
  • Transition from retail trading to institutional thinking

• Trainers, professors & educators who want to:

  • Upgrade curriculum with practical market insights
  • Teach derivatives with real-world relevance

Key Learning Outcomes

• Understand futures & options mechanics
• Interpret payoff structures & option pricing basics
• Learn Greeks (Delta, Gamma, Theta, Vega) intuitively
• Apply basic strategies (spreads, straddles, hedging)
• Understand market structure, SEBI regulations & clearing systems
• Build awareness of risk, leverage & trading psychology

📌 As per the program structure, participants also gain exposure to cross-asset derivatives (equity, currency, commodities, interest rates) and real-world Indian market case studies

Syllabus Snapshot (Basic Level)

• Introduction to Derivatives & Hedging
• Futures Market Mechanics (Margins, MTM)
• Option Payoffs & Valuation
• Option Pricing & Greeks (Black-Scholes overview)
• Basic Option Strategies
• Risk & Trading Psychology
• Regulatory Framework (SEBI, Exchanges)
• Currency, Commodity & Interest Rate Basics
• OTC Markets Introduction
• Cross-Asset Linkages & Institutional Use
• Risk, Ethics & Misuse of Derivatives

🔹 Level 2: Advanced Derivatives & Institutional Trading Program

Objective: Develop institutional-level thinking in volatility, risk management, and structured products.

Key Learning Outcomes

• Understand volatility as an asset class
• Interpret implied volatility, skew & market regimes
• Master dynamic Greeks & risk exposure
• Learn event-based strategies (RBI policy, earnings, budgets)
• Decode expiry behaviour & gamma traps
• Understand OTC derivatives, swaps & structured products
• Build frameworks for institutional trading & risk management

📌 The program emphasizes India-specific institutional practices, including volatility trading, liquidity provision, and structured product usage

Syllabus Snapshot (Advanced Level)

• Market Structure & Volatility Regimes
• Historical vs Implied Volatility
• Volatility Skew & Smile (India Focus)
• Greeks in Motion (Delta-Gamma, Theta, Vega)
• Event-Based IV Strategies
• Institutional Trading Case Studies
• OTC Derivatives (IRS, FX Swaps)
• Expiry Dynamics & Gamma Risk
• Structured Products (Autocallables, Binaries, Range Accruals)
• India Use Cases (PMS, Bank Notes)
• Risk Management (Model, Liquidity, Counterparty Risk)
• Behavioural & Ethical Risks
• Strategy Selection Framework

What Makes PFA Institute Different 

• ✅ Institutional Approach (Not retail trading gimmicks)
• ✅ India-Focused Case Studies
• ✅ Dealing Room Thinking & Practical Application
• ✅ Strong Focus on Risk Management & Ethics
• ✅ Bridges CFA/FRM Theory with Market Reality

Career Outcomes

After completing the program, participants can confidently pursue roles such as:

• Derivatives Trader / Dealer
• Risk Analyst (Market Risk / Treasury Risk)
• Structured Product Analyst
• Options Strategist
• Treasury / ALM Professional
• Financial Trainer / Faculty (Advanced Derivatives)

Summary: Basic + Advanced