Capital Markets and Investment Banking Training Course

Course overview

Capital markets exist to move money from those who have it to those who can use it, and to price the risk of that transfer. Investment banks sit in the middle: underwriting issues, advising on transactions, making markets, and structuring instruments that transfer risk between parties who want different things. The activities are often described in language designed to obscure them, which is unhelpful for anyone who has to work alongside the sector or raise money through it.

This course explains the mechanics plainly across seven units: the structure of capital markets, investment banking activity, equity and debt instruments, mergers and acquisitions, derivatives and risk transfer, the regulatory framework, and where the industry is heading. It is educational and is not financial or investment advice.

Why the mechanics matter to people outside the industry

A corporate treasurer negotiating an issue, a finance director considering a sale, a regulator supervising a market, an auditor examining a valuation: each is dealing with an intermediary whose incentives are not identical to theirs. Understanding how a bookbuild is priced, what an underwriter is actually promising, how a fairness opinion is produced, and where the fees come from changes the conversation considerably.

The other reason is structural. Markets have moved: passive funds hold a growing share of equities, private credit has taken business that banks used to book, and electronic market making has replaced much of the trading floor. The picture many people carry of investment banking is roughly twenty years out of date.

Course objectives

By the end of the course, participants will be able to:

• Map how a new issue reaches investors and later trades.
• Underwrite an issue and price the risk the bank takes on.
• Distribute a new issue priced through bookbuilding.
• Value a bond by yield and a share after dilution.
• Mandate a sale and steer it through to completion.
• Hedge an exposure and trace who carries it after clearing.
• Navigate conduct rules that bind a bank during a live deal.
• Contrast bank intermediation with private capital funding.

Course outline

Unit 1: Introduction to capital markets

• Primary and secondary markets around a single issue.
• Liquidity a placement depends on from market makers.
• Market microstructure behind order books and spreads.
• Benchmark inclusion and the demand it brings to a listing.

Unit 2: Investment banking fundamentals

• Advisory, trading and research behind internal walls.
• Underwriting an issue on firm commitment or best efforts.
• The initial public offering from roadshow to allocation.
• Fee structures and the conflicts they create for advice.

Unit 3: Equity and debt instruments

• Rights issues and the dilution existing holders absorb.
• Covenants a borrower accepts to price a syndicated loan.
• Yield to maturity and the price a rate move produces.
• Credit ratings and the spread an issuer pays for risk.

Unit 4: Mergers and acquisitions

• Deal rationale and the screening of a target list.
• Price negotiation and the premium a bidder will pay.
• Mandate letter, information memorandum and deal completion.
• Takeover defense, fairness opinions and a board's duties.

Unit 5: Derivatives and risk management

• Derivative exposure and the party that finally carries it.
• Hedging with options until the position turns speculative.
• Credit derivatives and the lessons taken from 2008.
• Counterparty risk that remains after central clearing.

Unit 6: Regulatory frameworks in capital markets

• Prospectus and periodic reporting duties of an issuer.
• Insider dealing controls around an unannounced deal.
• Best execution measured on a client's actual fill.
• Market manipulation and the supervision of trading desks.

Unit 7: Future of investment banking

• Private credit and the fee it takes from a bank.
• Automated execution and the advice a client still pays for.
• Green bonds and the verification behind a green label.
• Tokenization and the settlement it has actually changed.

How the course is delivered

Sessions work through real transactions: prospectuses, deal announcements, term sheets, fairness opinions and enforcement actions, which participants read and analyze in discussion. Worked examples take bond pricing, dilution and valuation calculations step by step. The course is educational and is not financial or investment advice; no instrument or transaction is recommended, and it does not certify participants. Participants approaching this from the corporate side will find Corporate Finance and Capital Budgeting a useful complement.

Who should attend

• Finance professionals working with capital markets or preparing for a transaction.
• Corporate treasury and corporate development staff who raise capital or negotiate deals.
• Analysts, auditors and regulators who need to understand market activity in depth.
• Lawyers, consultants and advisers who support issuers and investors.

About EuroQuest International Training

EuroQuest International Training was founded in 2015 by a team with more than 25 years of experience in professional development. We deliver over 1,000 courses and have trained more than 15,000 participants, from our head office in Bratislava, Slovakia, with hubs in Dubai, London, Barcelona, Istanbul, Vienna, Paris and Geneva. Courses are developed and reviewed by practitioners from the fields they teach.

Frequently asked questions

Do I need a markets background?

No. The instruments and the processes are built from first principles. Participants who already work in the sector generally use the sessions to fill gaps outside their own desk.

Does the course cover trading strategies?

It explains how markets and instruments work, not how to trade them. It is educational and is not investment advice, and no strategy or position is recommended.

Does the course include a live lab?

No. There is no trading environment or software. The sessions work from real documents, market data extracts and worked examples discussed in the room.

Related courses

• Fixed Income and Equity Investment Strategies
• Hedge Funds and Alternative Investment Strategies
• Advanced Financial Management Strategies
• Financial Technology (Fintech) and Innovation

Register for this course

Select a city and date from the schedule above to register, or contact EuroQuest about in-house delivery for a finance or treasury team.