Welcome to the Certified Financial Engineer (CFE) in Derivatives specialization!

Our professional and academically sound training in derivatives is characterized as follows:

• Case Study Based Continuing Education: The certificate course is based on a continuous case study that depicts tasks in real-life financial engineering of derivatives. This means that what is learned can be immediately applied in professional practice.
• High learning success: The case study is divided into small tasks that can be completed without a great deal of time. The learning success is immediately visible.
• Level-oriented further education: Each participant can take the certificate course at the level at which they would like to further their education. Both beginners and experienced risk managers will get their money's worth.
• Flexible learning: The Certified Financial Engineer is digital. You do not have to allow for on-site attendance time and can always work on the case studies when and where you want.
• Modeling-based financial engineering with derivatives: We follow the approach of modelling-based financial engineering with derivatives. You implement everything directly in Excel. This guarantees a high level of benefit and learning success.
• Minimal prior knowledge required: You only need minimal prior knowledge of mathematics and statistics. The contents are taught to you step by step and only in the depth that you really need. Experienced derivatives specialists can build on this and go into greater depth as required.
• Personal support: Our philosophy is that continuing education is only successful if it is fun and motivating. Due to the didactic preparation of the course and the intensive support, learning success is guaranteed.
• Feedback through success controls: You will have success controls in the course and receive direct feedback on the models you have created yourself.
• Professional course materials: The course materials consist of 1) Course book 2) Excel models for the book 3) Toolbox in Excel 4) Videos. All materials are coordinated with each other.
• Accredited program: The contents of the "Certified Financial Engineer (CFE)" are accredited and are also used in the MBA "Applied Quantitative Finance".
• German or English: You can complete the program in German or English.
• Recognized title: The titles "Certified Financial Engineer (CFE)" and MBA in "Applied Quantitative Finance" enjoy a high reputation among companies and open up outstanding career opportunities for you.

Course 1: Fundamentals and Valuation of Options and Futures

• Course unit 1: Fundamentals of options
  How options work, value drivers of options, intrinsic value versus time value and the binomial model
• Course unit 2: The Black-Scholes model incl. the Greeks          
  Pricing of options with the Black-Scholes model, the Black-Scholes-Merton model and the Greeks            
• Course unit 3: Fundamentals and pricing of futures            
  Index futures, interest rate futures, foreign exchange futures, commodity futures and futures on individual securities            

Course 2: Option strategies

• Course unit 1: Basic strategies with options and bullish option strategies
  Basic strategies long call, short call, long put and short put; bullish advanced strategies:
  Covered calls OTM, covered calls ITM, call backspread, bull call spread, bull put spread, protective put and collar strategy.      
• Course unit 2: Bearish option strategies and neutral strategies
  Bearish option strategies: Covered Put, Put Backspread, Bear Put Spread, Bear Call Spread, Protective Call 
  Bearish volatility strategies: Condor options, long call and put butterfly, long call and put ladder, short strangle, straddle and guts
  Bullish volatility strategies: Short Condor, Call and Put Butterfly, Call and Put Ladder, Long Strangle, Straddle and Guts as well as Strip and Strap
• Course unit 3: Overview of option strategies and recommendations for action
  Overview of strategies and how to determine an options strategy.

How is the Case Study structured?

The case Study consists of 2 courses with 3 course units each. A total of 50 assignments are offered: 25 assignments in Course 1 and 25 assignments in Course 2.

Do all assignments have to be completed?

You should complete those assignments that will enhance your competence in the derivatives area and that will help you professionally or academically. To pass the certificate course, 20 out of 50 assignments must be completed. You must complete at least two assignments per course unit. However, you are welcome to complete all assignments.

How much time should I plan for the certificate course?

We are aware that time is a precious commodity. Due to the excellent teaching materials, the Certified Financial Engineer (CFE) is a highly efficient course. The certificate course is structured in such a way that it can be successfully completed within approx. 4 months alongside work or studies, provided the appropriate commitment is made. The actual work load will of course depend on prior knowledge, current work performance and other individual factors.

How will I be supervised during the certificate course?

Our ultimate goal is for you to gain maximum benefit from our course. We are not a "mass provider", but an educational manufactory. While working on the case study and creating your model, you regularly submit your interim results to us. You will then receive immediate feedback from us on your results. If everything fits, you will receive a "keep it up"; if we notice mistakes, you will receive tips on how to correct them. If questions arise in the meantime, we are always there for you by email, video conference or telephone. That means the certificate course is digital, the support is personal.

Which teaching materials will I receive to work on the case study?

• Course book: Derivatives: Options and Futures - Step by Step
  The case study you will work on is based on the course book "Derivatives: Options and Futures - Step by Step", which the two course leaders have written especially for this course.
• Excel for the course book: Derivatives: Options and Futures - Step by Step
  The Excel file for the course book contains the solution of the assignments from the course book "Derivatives: Options and Futures - Step by Step". This Excel file serves as a sample solution for the Derivatives Case Study you are working on.
  • Course 1
  • Course 2
• You can now proceed as described in the section "Philosophy of the book" and work through the contents using the 4 steps described here. Participants of the Certified Financial Engineer (CFE) in the Derivatives specialisation receive the models with the figures listed in the book for working on their case study.
• Toolbox
  In the Excel toolbox, there are numerous small exercises that shed more light on individual aspects of the respective assignments. By clicking on the formula line, you can see the correlations and the respective calculation methods can be easily understood using a simplified example and can also be applied to your case study on derivatives.
• Videos
  The videos are coordinated with the course book, the Excel for the course book, the toolbox and the case study derivatives. In the videos, the course leaders show you how to solve your Case Study Derivatives using a continuous example. You can then build the models yourself and then modify them for your specific case.
• Case Study Derivatives
  The Case Study is the most important document for you. You work on this case study and then submit it to the EIQF. The case study contains exactly the topics - applied to your specific company - that are also presented in the above-mentioned teaching materials on the basis of the so-called "Pharma Group".

Which target group is addressed by the certificate course "Certified Financial Engineer (CFE)" in the specialization "Derivatives"?

• Derivatives experts in sales who would like to expand their quantitative knowledge.
• Structuring experts at banks and financial service providers
• Employees from the areas of controlling, treasury, financial accounting who are interested in the topic of "derivatives
• Career changers in the field of derivatives.
• Students who would like to qualify for financial engineering in general and the field of derivatives in particular.
• Students who want to acquire ECTS for their Master's degree (e.g. for the MBA Applied Quantitative Finance).

Which two paths lead to the Certified Financial Engineer (CFE) in the specialization "Derivatives"?

• Professional Excellence: Aims at the qualification of professionals.
• Academic Excellence: Includes the training content of "Professional Excellence" plus an oral examination for the acquisition of ECTS.