Fixed Income Markets
Government and corporate debt pricing, yield curve behaviour and the Egyptian primary dealer system.
Programme overview
Covers the instruments that dominate Egyptian market volume: treasury bills and bonds, corporate issues, securitisation notes and sukuk, with pricing conventions used by local desks.
Participants price live auctions, build a curve from observed yields and measure portfolio sensitivity to rate moves.
Key learning outcomes
- 01Price bills, bonds and floating rate notes on local conventions
- 02Construct and interpret the EGP yield curve
- 03Measure duration, convexity and DV01 for a portfolio
- 04Explain the primary dealer and auction mechanism
- 05Assess credit spreads on corporate and securitised paper
- 06Structure a simple sukuk or securitisation transaction
Curriculum
Instruments & conventions
Day count, accrued interest and settlement conventions.
Yield curve
Bootstrapping, forwards and curve shifts.
Risk measures
Duration, convexity, key rate exposures and hedging.
Credit & structured paper
Ratings, spreads, securitisation and sukuk structures.
Primary market
Auctions, primary dealers and issuance calendars.
Prerequisites, assessment & certification
Prerequisites
Comfort with basic time value of money calculations.
Assessment
Pricing exercise and written examination.
Certification
ECMF Academy certificate of completion.
Other programmes in this track
Reserve a place on the next cohort
Member firms receive preferential rates and can nominate delegates directly through the secretariat. In-house delivery is available for cohorts of ten or more.