Bond Trading Techniques Training Overview

With government efforts in restructuring the economy, State Bank of Vietnam

and Ministry of Finance are giving more supports and measure to promote and

develop both government bond market and corporate bond market. In the first

quarter of this year and in the current situation of banking sector, government bond

and bills are being welcome and bond market become more active with more

potential and interest from local and foreign investors.

Understanding the local bond market practice with its complexity and

sophistication, having investors equipped with basis knowledge on bond, our two-

day intensive program is designed to update investors and market participants on

practical activities and trading of bond/bills in Vietnam. This is our intensive

training course offered by the Vietnam Bond Market Association with leading local

bond experts who have years of market experience in Vietnam.

Secure your place!

Register before

May 03, 2014

A 2-day Training Course. Who Should Attend • CFO

Date: May 08 – 09, 2014

• Bond traders • Finance Controllers • Treasurer • Risk Managers • Fixed Income Managers • Anyone seeking for the knowledge

Of Fixed Income Securities

• Investment Managers

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Course Summary Venue: Sheraton Sai Gon

The course will provide investor delegates with a thorough understanding of

• Bond Fundamentals: NPV, yield curves, spot &

forward interest rates. • Bond Cash Flows and Pricing: coupon bond, zero coupon

bond, floating rate bond. • Bond Accounting & Settlement. • Bond Interest Rate Risk.

• Borrowers and

Investors: Basel 2 -

Tier 2 FRN

structures/bonds. • Local Bond

Market today:

Registration starts at 08:00,

May 08, 2014. Program runs from 08:30 to 17:00

daily.

• Hedging tool for bond portfolio: Interest Swap,

Currency Swap, Basis Swap.

• Investor Protection: Debt ranking, Event of Default,

Acceleration, Cross default, Covenants, etc.

Development,

participants, pricing, and documentation. • Bond Trading Simulation. • Case Studies and live exercises.

Agenda*

Day 1 Day 2

May 08, 2014 May 09, 2014

Interest Rate Basis Repo concept, classic repo Interest rate risk hedging:

FRA, IRS, Asset swap, coupon swap

Time Value of Money Repo in the market

Credit risk hedging: CSD

Interest rate risk – PV01 Buy/Sell Back

FX risk hedging: CCS

Yield Curve Margin and Haircut

Bond investor protection:

Spot interest rate Repo pricing

Event of Default, Acceleration, or Cross Default.

Forward interest rate Repo Docs

Financial and non-financial covenants

Discount Factor - Test -

Bootstrapping Bond Accounting

- Test - Bond Settlement & Basic Legal Issues in trading Bond

Operations How to use BBG terminal

Fixed Income Securities

Bond classification

Bond pricing Bond trading simulation

Price behavior

Yield and Spread

Forward pricing of bond

DV01 and portfolio risk

Question and Answer on VN bond market

management

- Test -

*VBMA reserves the right to make a minor change on some contents without prior notice

Pham Van Son - DIRECTOR, HEAD OF GLOBAL FINANCE AND FOREIGN EXCHANGE,

DEUTSCHE BANK AG HCMC BRANCH.

Son has been working for Deutsche Bank AG HCMC Branch since 1997. He has been in

various positions of MM/FX trader, Fixed Income trader and Treasury manager. From

2004, he has been leading the Debt team in Global Market of Deutsche Bank AG

HCMC, focusing to fixed income, Foreign Exchange and liquidity risk management. From

2008, Son has been promoted as Director, Head of Global Finance and Foreign

Exchange. His effort and contribution over the last few years has made Deutsche Bank

become one of the biggest foreign banks in trading of bond/repo and foreign

exchange in Vietnam. Before joining Deutsche bank, Son worked for Natexis Banque

BFCE, Hochiminh City branch for three years in Import-Export department.

Son is one of the key members of the Vietnam Bond Forum (VNBF) from 2007 and

currently VBMA, responsible for forming the compromised version of the repo agreement

within the Forum for the local market

He has MBA Degree from Maastricht School of Management and the Bachelor Degree of the

Banking University of Vietnam.

Biography

Pham Hong Hai – MANAGING DIRECTOR, HEAD OF GLOBAL MARKETS, HSBC VIETNAM

Pham Hong Hai is currently the Head of Global Markets for HSBC in Vietnam. He leads the

Global Markets team which contributes more than 40 per cent of the Bank’s profits. Hai took

over the role of Head of Global Markets in 2004. His primary responsibilities include managing

foreign exchange and interest rate risks profitably, managing balance sheet, managing

funding and liquidity, developing derivative business and sales/marketing activities. Under

Hai's leadership, Global Markets of HSBC in Vietnam has become the leading Global Markets

house in Vietnam in term of profitability, product range and awards. The team has done

several pioneer transactions in Vietnam such as 1st USD/VND cross currency swap, 1st VND

interbank interest rate swap, 1st Tier 2 bank bond. Several awards have been given to Global

Markets Vietnam namely Best Domestic Currency Bond deal by Finance Asia in 2006, Best

Foreign Exchange Bank for two consecutive years in 2006 and 2007 by Asiamoney. Prior to his

role in Treasury department in 1997 to set up and develop Treasury business, Hai started his

career with HSBC in Viet Nam in the Financial Control department in 1995 for two years. Hai

has been working in the Treasury department for over 11 years in different roles from dealer to

senior dealer to Assistant Treasury Manager. Hai holds a Bachelor of Science in Business

Administration of the University of Economics Ho Chi Minh City, and a Diploma in Financial

Services Management from the Institute of Financial Services, UK.

Mr. Nguyen Hoang Anh is currently a partner with Mayer Brown's Hanoi practice. He has

been a practicing lawyer for 16 years and a graduate of Hanoi University with a degree in

commercial law. He heads up the Firm’s Vietnam banking and finance practice with a

focus on derivatives and structured finance transactions. Hoang Anh has worked on the

majority of domestic bond offerings since 2006 as legal counsel to the Arranger and

therefore has been instrumental in introducing market practices concerning

documentation, regulatory interpretation and legal execution. Hoang Anh is also legal

counsel to the VBMA and he has delivered a variety of training courses for VBMA and its

corporate members in respect of capital market transactions, derivatives products and

other relevant legal topics. Hoang Anh is a Vietnamese national resident in Hanoi.

Mr. Nguyen Hoang Son - DIRECTOR, TRADING HEAD, MARKETS OF CITIBANK VIETNAM.

Since July 2008, Mr.Son has been the Director, Trading Head, Markets of Citibank Vietnam.

He is responsible not only for market making in Foreign Exchange, Government Bonds, and

promoting interest rate derivatives in the local market but also for maintaining and

developing regulatory relationships at appropriate levels. Prior to joining Citibank Vietnam,

from 2000 to 2008, Mr.Son was the Vice President, Foreign Exchange Trading, STIRT, Deutsche

bank HCMC, Vietnam where he was responsible for managing the bank’s FX desk, dealing

in Money Market, Repo, Open Market Operation, Bond Trading, Nostro Management, MCO,

Transfer Pricing and Balance Sheet Management.

Mr.Son has been a CFA chartered holder since September 2008. He also holds an MBA

degree from Monash Mt Eliza Business School, Melbourne Australia where he got full

scholarship sponsored by Australian Government in 1998-1999. In 1995, Mr.Son graduated

with honor from the Economics University, Hochiminh City, Vietnam.

Mr. Ngo Dang Khoa – SENIOR RATE TRADER - HSBC VIETNAM

Ngo Dang Khoa is currently Senior Rate Trader for HSBC in Vietnam. He and his Global Markets team

which contributes more than 40 per cent of the Bank’s profits. Khoa has been working in Treasury

department for more than 6 years in different roles from dealer to senior dealer. Khoa holds a

bachelor of a Bachelor of Science in Finance of the University of Economics Ho Chi Minh City and a

MBA degree from Suffolk University Business School, Boston, USA.

A 2-day Training Course.

Date: May 08 – 09

2014 VBMA would like to invite you to

join the Bonds and Fixed Income

Training Course.

Language: The seminar is conducted

in Vietnamese

Venue: Sheraton Hotel

88 Dong Khoi Str., District 1 Ho Chi Minh City, Vietnam

Registration starts at 08:00,

May 08, 2014 Program runs from 08:30 to 17:00

daily

“Very useful, practical, giving a real picture of bond

trading, pricing and markets”

Pham Phuong Lan, Deputy Director of Treasury, BIDV

ABOUT US VBMA - The Vietnam Bond Market Association presents the shared interest of more than 60 financial institutions including banks, securities firms, funds, insurance companies, and law firms through out Viet Nam. VBMA’s mission is to champion policies and practices that benefit its members; to be a high-standard debt market professional community in Vietnam, a market modernization champion and driver, a collective market information source, a policy dialogue interlocutor for policymakers and regulators.

Registration Fees

VBMA Member fees 8.000.000 VND

Non-member fees 12.000.000 VND Fees include tuition, documentation, lunch and

refreshments. Please note, payment must be received prior to May 04, 2014.

Payment details (please transfer the fee one day

after your registration – via fax or email) A/C name: Hiep Hoi Thi Truong Trai Phieu Viet Nam

A/C no.(vnd): 120 10 00 0367028 @ BIDV Transaction

Center #1 branch *For security purposes, we can only accept account

transfer. Thank you.

4 easy ways to register!

� Email:

thao.tb@vbma.org.vn

� Telephone:

+84 3974 8781 ext. 708

� Facsimile:

+84 3974 8782

� Post mail:

Vietnam Bond Market Association,

14th Floor, Tower A, Vincom, 191 Ba

Trieu, Ha Noi

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Signature Date

Registration policy Registration is on a first-come-first-served basis.

VBMA shall start accepting registrants immediately

upon dissemination of this memo. VBMA, through

its board of directors, shall be the final decision-

Cancellation Policy Registered candidates may get a replacement or

substitute provided that VBMA is informed one

week before the start of the seminar. Refunds may

also be made provided that the above advice is

received on time. Failure to do so shall mean

forfeiture of the registration fee.

Contact: Ms. Ta Thi Bich Thao Senior Coordinator

Vietnam Bond Market Association 14

th floor, Tower A, Vincom, 191 Ba

Trieu Tel: 84 3974 8781 - ext. 708 Fax: 84 3974 878

Email: thao.tb@vbma.org.vn

Registration form