Introduction to Infrastructure Derivatives (1)

Scope & objectives

An introductory course which requires no prior derivatives knowledge or experience, it is also suitable for those who regularly work with derivatives but would like to go "back to basics" for a more fundamental understanding or refresher.

We will cover what the foreign exchange and interest rate derivatives markets are, and describe how the futures, swaps and options markets operate.  After the break we look at a project finance case study to see how project-level hedging and swap mark-to-markets work in practice, and compare this with alternatives such as fixed rate debt.

The course takes an interactive approach in discussing the material and questions will be encouraged throughout the session.

This is a purely qualitative course which aims to enable candidates to confidently "ask the right questions" in a professional situation going forward.  It leads on to our more technical Infrastructure derivatives in practice course.

Programme

• What is a derivative?
• Introducing futures, swaps and options
• Currency markets
• Fixed income markets: interest rates and inflation
• The key question: why (or why not?)
• Infrastructure project case study
• Session summary

Lunch, refreshments and course materials are provided.

Previous course feedback

- "Great that it started in simple terms then was applied to real examples"

- "Brilliantly taught and made understandable in an infra context"

- "I came into the session with next to no understanding of derivatives and came out feeling like I have a decent grasp."

- "Was really helpful in mitigating the risks that our clients face and how they can mitigate these"

Course leader

Rob Dornton-Duff has over 20 years' experience in marketing, structuring and advising on derivatives, primarily within  infrastructure and project finance.  He has transacted over USD 50 billion in derivatives notional amount for the sector, including leading the hedging process on projects such as the Worlds's largest offshore windfarms Hornsea 1 and 2, Greater Changhua 1, Borkum Riffgrund III, Gemini, Nordsee 1 and Norther offshore wind farms; Ellevio acquisition and refinancing, FARAC 1 Mexican Toll concession refinancing, London City Airport acquisition financing and numerous other projects.  Rob has an Aeronatutical Engineering degree from Imperial College and an MBA from Manchester Business School.