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CSI will be performing system maintenance on Saturday May 11th from 5 a.m. until 1 p.m. ET. You will not have access to your “myCSI” student account, nor will you be able to book, cancel or reschedule exams during this time. You can still access your online course materials by visiting connect.csi.ca then connecting to “Blackboard Learn”.

What will you learn about?

  • Determining client suitability
  • Appropriate risk management strategies considering market outlook and risk tolerance
  • Standards of conduct when dealing with clients
  • Account documentation
  • Entering orders
  • Executing orders on exchanges
  • Payment for futures options or deposit of sufficient futures margin
  • Liquidation or roll-over of futures contract positions
  • Tax implications of futures trading

What is the course syllabus?

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Section 1 - Regulation of Futures Trading in Canada

Chapter 1 - Regulation of Futures Trading in Canada

Topics covered in this chapter are:

  • Provincial Regulatory Framework in Canada for Exchange-Traded Futures and Futures Options
  • Self-Regulatory Framework in Canada for Exchange-Traded Futures and Futures Options
  • Canadian Investor Protection Fund
  • U.S. Futures Regulations
  • Classification of Canadian APPROVED Exchange-Traded Futures and Futures Option Participants and Their registration Requirements

Section 2 - A Review of the Risks and Rewards of Futures and Futures Options Strategies

Chapter 2 - Bullish Strategies

Topics covered in this chapter are:

  • Long Futures Contract Strategy
  • A Brief Note on Futures Options
  • Long Call Strategy
  • Married Put Strategy
  • Covered Call Writing Strategy
  • Put writing strategy
  • A Brief Overview of Spreads, Straddles and Combinations
  • Bull Call Spread Strategy
  • Bull Put Spread Strategy

Chapter 3 - Bearish Strategies

Topics covered in this chapter are:

  • Short Futures Contract Strategy
  • Long Put Strategy
  • Protected Short Sale Strategy
  • Covered Put Sale Strategy
  • Call Writing Strategy
  • Bear Put Spread Strategy
  • Bear Call Spread Strategy

Chapter 4 - Neutral Strategies

Topics covered in this chapter are:

  • Short Straddle Strategy
  • Short Combination Strategy
  • Long Straddle Strategy
  • Long Combination Strategy
  • Option Time Spread Strategy

Chapter 5 - Futures Spread Strategies

Topics covered in this chapter are:

  • Qualified Spread
  • Types of Spreads
  • Risks of Spread Trading

Section 3 - Opening and Maintaining Futures Accounts

Chapter 6 - Conduct and Practices

Topics covered in this chapter are:

  • Ethics
  • Standards of Practice
  • Money Laundering and Terrorist Financing in the Securities Industry
  • Trading and Sales Practices
  • Regulations Concerning Registered Futures Representatives Employed by SRO Members

Chapter 7 - Opening and Maintaining Retail Futures Accounts

Topics covered in this chapter are:

  • Opening a Futures Account
  • Completing and Approving the Futures Account Application Form
  • Completing the Futures Trading Agreement
  • Risk Disclosure Statement
  • Updating Client Account Records to Reflect Material Changes
  • Hedging Agreement
  • Managed and Simple Discretionary Accounts
  • Transferring Futures Accounts from One Dealer Member to Another
  • Commissions
  • Trade Confirmation
  • Monthly Statement
  • Statement of Purchase and Sale
  • Anti-Money Laundering and Anti-Terrorist Financing Regulations
  • A Day in the Life of a Registered Futures Representative

Chapter 8 - Calculating Client Margin Requirements

Topics covered in this chapter are:

  • Original and Maintenance Margin
  • Setting Margin Requirements
  • Hedge Margins
  • Satisfying Margin Calls
  • Comprehensive Margin Example
  • Margining a Futures Option Position
  • Dealer Member Capital Requirements

Chapter 9 - Entering Futures and Futures Options Orders

Topics covered in this chapter are:

  • Generic Futures Order Entry Screen
  • Types of Futures Orders
  • Generic Futures Options Order Entry Screen
  • Contingent Futures Options Orders
  • The Bourse de Montréal’s User-Defined Strategies Functionality
  • The Bourse de Montréal’s Procedures to Execute Riskless Basis Cross Transactions on Futures Contracts on S&P/TSX Indices

Chapter 10 - Canadian Taxation of Futures and Futures Options Trading

Topics covered in this chapter are:

  • Professional Versus Non-Professional Futures and Futures Options Traders
  • Tax Consequences for Non-Professional Traders
  • Tax Consequences for Professional Traders

Chapter 11 - Opening and Maintaining Institutional Futures Accounts

Topics covered in this chapter are:

  • Opening Corporate Futures Accounts
  • Know Your Client Rule
  • Permissible Futures Transactions for Pension Plans, Insurance Companies and Trust Companies in Canada
  • Canadian Mutual Funds

Section 4 - The Role of Clearing Corporations and Exchanges in Futures and Futures Options Trading

Chapter 12 - The Role of Clearing Corporations

Topics covered in this chapter are:

  • What Is a Clearing Corporation?
  • Canadian Derivatives Clearing Corporation
  • U.S. Futures Clearing Corporations
  • The Functions of a Clearing Corporation

Chapter 13 - The Role of Exchanges

Topics covered in this chapter are:

  • Physical Futures Exchanges
  • Electronic Futures Exchanges
  • The Structure of Futures Exchanges
  • Futures Order Flows
  • Creating and Listing New Futures Contracts
  • Setting Price Limits
  • The Rules That Govern Trading
  • Month-End Fair Value Procedures for Stock Index Futures
  • Margin Requirements
  • Publishing Volume and Open Interest Information

Chapter 14 - Delivery Procedures

Topics covered in this chapter are:

  • Delivery Overview
  • Delivery Example
  • Delivery Process for Bond Futures Contracts
  • Cash Settlement
  • Exchange for Physical and Exchange for Risk

Chapter 15 - Risks and Considerations of Delivery and Exercise

Topics covered in this chapter are:

  • Pitfalls of Trading in the Delivery Period
  • Futures Option Exercise and Assignment

Section 5 - Contracts for Difference (CFDS)

Chapter 16 - Contracts for Difference (CFDs)

Topics covered in this chapter are:

  • Features of CFDs
  • CFD Strategies
  • Regulation and Distribution of CFDs in Canada

Section 6 - Operational Considerations

Chapter 17 - Fundamental Analysis of Futures Markets

Topics covered in this chapter are:

  • Supply and Demand Analysis
  • Types of Fundamental Analysis
  • How Government Programs and International Agreements Can Affect Prices
  • Major Limitations of Fundamental Analysis

Chapter 18 - Technical Analysis of Futures Markets

Topics covered in this chapter are:

  • What is Technical Analysis?
  • Chart Analysis
  • Statistical Analysis
  • Sentiment Indicators
  • Volume and Open Interest
  • Seasonality
  • Combining Technicals and Fundamentals
  • Trading Systems and Risk Management
  • A Simple Trading System

How will you learn?

CSI’s online learning system helps you meet your study goals. You’ll benefit from:

  • Textbook readings available in PDF, eBook and printed format
  • Course materials accessed through your computer, laptop, tablet, or phone, or by downloading the e-book for offline reading
  • Online assistance from CSI’s academic support specialists
  • Online post-chapter review questions to assess your progress
  • Learning objectives that keep you focused
  • Annual course updates to ensure you’re learning the most current and up-to-date practical material

Course Completion, Wall Certificate and Digital Badge

Upon successfully completing this course, you will be able to download a Notice of Course Completion available through your student profile. This will remain on your profile as formal confirmation of course completion.

You can also accept a digital badge through your student profile after successful course completion. Digital badges are portable image files that allow you to share your credentials across the web. You can post them to your email signature, personal website, social media channels—even to electronic copies of your resume.

CSI will mail you a wall certificate within 4 – 6 weeks of course completion. Frames to display your certificate are available. Please ensure that your First and Last Name on your profile matches your First and Last Name on your Government Issued Photo identification – this will ensure you receive an accurate certificate.

CSI will be pleased to issue an Honours Certificate to all students who obtain a final course mark of 85% or higher.

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