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Description

Money Markets: Reading Short-Term Rates, Trading Instruments and Managing Liquidity

Master money market instruments and the day-to-day management of bank treasury

  • 2 days — 14 h
  • In-person or virtual
  • Intermediate
  • Up to 6 participants

An institution's short-term treasury position is steered every day across unsecured interbank lending, repurchase agreements, short-term negotiable paper and central bank operations. Decisions are taken quickly under liquidity constraints and counterparty limits, and an approximate reading of the short-term rate curve is paid for in refinancing cost.

Two days to connect each instrument to the need it covers: the mechanics of each product, calculation and settlement conventions, collateral management, construction of the short-term rate curve and the daily closing of the position. The exercises reproduce a full treasury day, with its surpluses and its shortfalls.

Learning objectives

  • Position the role of the money market in the refinancing of financial institutions
  • Describe the mechanics of unsecured deposits, repurchase agreements and short-term paper
  • Apply interest calculation and settlement conventions to money market transactions
  • Build and interpret the short-term rate curve
  • Use hedging instruments indexed on overnight reference rates
  • Close a daily treasury position under liquidity and limit constraints

What makes this programme different

A full treasury day is reconstructed, with cash flows arriving progressively and decisions to be taken under time pressure
Each instrument is followed from the front office through to settlement in the back office
The reading of rate spreads is linked to current monetary policy expectations

Programme

1Role and participants of the money market

Seeing where short-term funding takes place

  • Function of the money market in bank funding
  • Central bank refinancing operations and policy rates
  • Banks, money market funds, corporates and sovereign issuers
  • Interaction with the bond market and the foreign exchange market

2Money market instruments

Choosing the instrument that fits the need

  • Unsecured interbank deposits and borrowings
  • Repurchase agreements and management of pledged collateral
  • Short-term negotiable paper and issuance programmes
  • Short-term sovereign bills
  • Interest calculation conventions and settlement arrangements

3Short-term rates and hedging

Reading the curve and hedging the position

  • Construction of the short-term rate curve
  • Overnight reference rates and related indices
  • Overnight index swaps and related contracts
  • Reading rate spreads and monetary policy expectations
  • Hedging a refinancing position

4Day-to-day treasury management

Closing the day without an overdraft

  • Cash flow forecasting and monitoring of the intraday position
  • Placing surpluses and covering shortfalls
  • Counterparty risk and compliance with limits
  • Regulatory liquidity requirements and their impact on trade-offs
  • Controls and processing of transactions in the back office

Who is it for

Dealing room operators · bank treasurers · asset and liability managers · risk controllers and market back office staff.

Prerequisites

Familiarity with interest rate products and the principles of time value calculations.

Dates & locations

36 scheduled dates between November 2026 and December 2027. Seats are confirmed in the order enquiries are received.

November 2026

December 2026

January 2027

February 2027

March 2027

April 2027

May 2027

June 2027

September 2027

October 2027

November 2027

December 2027

None of these dates suit you? We open additional sessions on request, and any programme can be run privately for your team.

Practical details

Before the programme
Online positioning questionnaire. Your development objectives are shared with the trainer, who tailors the practical case studies to your context.
Teaching methods
Theoretical input, workshops and practical case studies. Digital course materials and method sheets provided.
Assessment
Multiple-choice tests and role-play exercises. Assessment of learning at the start and end of the programme, with immediate and 60-day follow-up evaluations.
After the programme
One year of access to the e-learning platform. Self-assessment of the skills acquired and a 30-day follow-up session with your trainer.
How to register
Registration online or on the basis of a quotation.
Lead time
11 working days after confirmation of registration.
Accessibility
Accessible to people of determination. Contact our accessibility coordinator to design a suitable solution: contact@mpf-academy.ae
Start dates
Rolling intake: in addition to the scheduled sessions, this programme can start on request.