Traders Learning the Ropes

Traders Learning the Ropes

28 Apr 2021 3 minutes

Philippe Kayasseh, Senior Education Specialist at SIX, is jointly responsible for educational and advanced training courses concerning the SIX Swiss Exchange and the financial markets. The course offerings are aimed at traders and reporting agents in and outside Switzerland and include accredited certification and recertification courses.

SIX itself doesn’t employ any traders. I nonetheless would like you to tell me what it takes today to make me a successful stock exchange trader.

Philippe Kayasseh: It takes strong nerves for certain [he laughs]. It’s said that stock exchange traders often go by their gut instincts.

What else does it take to become a trader?

Before traders at our participating banks are granted authorization to trade securities on the platform from SIX, our courses and exams first ensure that they possess the expertise needed for securities trading, have commanding knowledge of all functionalities and regulatory requirements, and have up-to-date expertise. In addition, all registered traders must complete a refresher course in the event of major system adjustments or regulatory changes, but at least every two years. The refresher course is equivalent to a compliance test and is mandatory.

Can I, as an amateur, take the trader examination and then start trading?

No. The trader education program at SIX is not a “trader apprenticeship” for private individuals – it is aimed exclusively at Swiss Stock Exchange participants. Nor does it teach you the best way to trade tactically.

But could I practice in the trading simulation course?

Yes, the trading simulation course from Traderion offers aspiring traders and all others interested the opportunity to acquire knowledge and simulate trading in a realistic stock exchange setting. The course familiarizes participants with the specific order types on the Swiss Stock Exchange and how to use them in the system.

One thing I’ve always wanted to gain a better understanding of is how derivative products work.

A derivative, to put it simply, is a financial instrument whose price derives from the value of an underlying asset such as a stock or bond, for example. A derivative works like a contract between two parties which stipulates that a given underlying asset can or must be purchased on a specified date at a pre-agreed price. If you would like to gain deeper insight into the world of derivatives, why not take the Derivatives Fundamentals Class? This e-learning program, offered by SIX, will be online on our website starting in April. For more experienced market participants, there’s the Derivatives Master Class, a ten-week assisted e-learning program comprised of seven modules that they can work through systematically at their own pace. Participants in this course learn how derivatives are used in different markets and by various client groups and how the risks are modelled, managed, and calculated by banks and the business world.

Will e-learning programs soon be the only courses left?

E-learning programs combined with live in-person teaching will play an ever-growing role in the future, in my view. This combination conjoins the best of both worlds.

What fascinates you about your profession?

Collaboratively working every day on the infrastructure of the Swiss financial center of tomorrow and imparting complex knowledge about stock exchange and financial market matters in a way that’s easy to grasp are what most excites me. And it’s fascinating to watch firsthand how the stock exchange and the financial world are continually evolving – that motivates me and adds a lot of variety to my workday.
 

Interview: Sibylla Rotzler
 

Watch How Philippe Did On the Bull

Based on the term of the “bull and bear market”, we regularly invite one of our colleagues for some indoor rodeo. Our series "Bullish" is all about testing testing the person's stamina on the bucking bull and having fun.

A Course with a Rich History: Derivatives Master Class

The roots of the Derivatives Master Class extend back to the birth of modern options trading in the 1980s. The Chicago-based financial firm O’Connor and Associates was one of the most successful traders of exchange-listed derivatives at that time. The derivatives market was still in its infancy in that era. Only those who truly understood the products, correctly assessed the risks, and knew how to hedge their positions could survive in this market. O’Connor and Associates began to train talents to develop them into highly qualified derivatives traders by combining practical trading experience with technical financial coursework. The course matter was considered proprietary know-how and thus a key corporate asset. After the takeover of O’Connor and Associates, its courses became the cornerstone of derivatives-trading training at UBS Investment Bank. The course incorporates 30 years of trader, risk manager, and client advisor experience from around the world.

The Derivatives Master Class offered by SIX is based on the O’Connor and Associates courses, which were long accessible only to a select circle of employees of large banks.

About Derivatives Master Class
Did You Like This Post?

Become a subscriber of RED and always stay up to date.

Subscribe Now

Explore Related Articles

Discover More