Investment Product Series (P Series) P3 - Complex Products: Derivatives

Sep 26, 2026

Investment Product Series (P Series) P3 - Complex Products: Derivatives provides professional education for investment consultants, effective from 1 October 2023 and updated through reviewed content in Chapters 4 and 5. It details trading mechanisms for the Thailand Futures Exchange (TFEX) in Chapter 4, including futures contract market trading mechanisms, and expands Chapter 5 by adding underlying assets and revising conditions for futures and options trading such as night-session gold futures and speculative position limits. Core learning objectives cover derivatives basics, futures and options valuation, hedging, speculative, and arbitrage strategies.

LanguageEnglish

CategoryExam

FormatPDF

Pages134

Reading Time5 h 38 min

AccessFree to download

Chapter 4 : Trading Mechanism of Thailand Futures Exchange (TFEX)

Topic 4.1 Futures Contract Markets Trading Mechanism in Futures Market

Chapter 5: Specifications and Conditions of Products in Thailand Futures Exchange

Added underlying assets and updated trading and reporting rules

Complex Products (Derivatives)

Required Readings

Chapter 1: Overview of Derivatives

Chapter 2: Fundamental Knowledge of Futures

Chapter 3: Fundamental Knowledge of Option

Suggested Readings

Text book (Unofficial Translation) Investment Product Series (P Series) P 3 – Complex Products: Derivatives For ▪ Investment consultant using as a requirement for “Investment Consultant Complex Type 3” or ▪ Investment consultant using as a requirement for “Investment Consultant Complex Type 1” Professional Education Department Capital Market Education Group Version 2 Note: This version provides the translation of reviewed content in Chapters 4, 5 especially topic 4.1 Futures Contract Markets Trading Mechanism, and updating rules and conditions of futures and options trading in Chapter 5. The content will be effective for the examination, as prescribed by its learning objectives, since 1 October 2023 onwards The amendment of Text Book (Unofficial Translation) Investment Product Series (P Series) P3 – Complex Products: Derivatives | Topics | Detail | | --- | --- | | Chapter 4 : Trading Mechanism of Thailand Futures Exchange (TFEX) | • Update content in the topic 4.1 Futures Contract Markets Trading Mechanism in Futures Market | | Chapter 5: Specifications and Conditions of Products in Thailand Futures Exchange | • Add new underlying assets, trading when the price change reaches the set level , update night session trading for Gold Online Futures, Gold-D Futures, Silver Futures, update speculative position limit, update futures trade reporting principles, etc. | Complex Products (Derivatives) Required Readings: 1. Knowledge about Capital Market Products: Complex Products (Derivatives) (Available in Thai only. See learning objectives and suggested readings as a guideline) Chapter 1: Overview of Derivatives Learning Objectives: 1. Explain significant basic characteristics of a futures contract. 2. Explain characteristics and distinguish types of a futures contract: forward commitments and contingent claims. 3. Distinguish types of an underlying asset in a futures market. 4. Explain basic characteristics of an underlying asset in a futures market. 5. Explain the definition, significance, and factors affecting to the value of each type of an underlying asset. 6. Explain usefulness, risks and cautions of utilising a futures contract. 7. Explain arbitrage and the law of one price. 8. Explain an exchange traded market and over-the-counter. 9. Explain the development of the Thai and overseas futures markets. 10. Explain trading transactions in a futures market in Thailand. 11. Explain the role, duties of concerned parties in a futures exchange market. 12. Link the relation of a clearing house with other counterparties. 13. Distinguish the types and characteristics of each type of investors in a futures market. Chapter 2: Fundamental Knowledge of Futures Learning Objectives: 1. Explain significant characteristics of a futures contract. 2. Distinguish differences of futures and forwards. 3. Explain the concept of futures price determination according to convergence of futures and spot price principle, and according to the cost of carry model. 4. Explain the concept of futures price determination in the case that an asset that an investor holds provides benefits. 5. Calculate returns from long and short positions in futures. 6. Explain the meaning of basis and spread of a futures contract. 7. Explain the situations of backwardation/ contango/ normal backwardation/ normal contango. 8. Explain the valuation principle for each type of a futures contract. 9. Explain hedging strategies for each type of a futures contract. 10. Explain speculative strategies for each type of a futures contract. 11. Explain arbitrage strategies for each type of a futures contract. Chapter 3: Fundamental Knowledge of Option Learning Objectives: 1. Explain a definition and characteristics of an option. 2. Distinguish a type of an option as put/call options, European, American, Pseudo-American options, an option of each type of an underlying asset. 3. Explain the moneyn

FAQs

What is the effective date and scope of this updated translation?

The version is effective for the examination from 1 October 2023 onward. It provides reviewed translations in Chapters 4 and 5, especially Topic 4.1, and updates rules and conditions for futures and options trading in Chapter 5.

What does Chapter 4 focus on for TFEX?

Chapter 4 concentrates on the trading mechanism of the Thailand Futures Exchange (TFEX), specifically updating Topic 4.1 about the futures contract markets trading mechanism in the futures market.

Which key learning objectives are covered for futures and options?

The text covers futures essentials (contract characteristics, price determination, basis/spread, hedging, speculative and arbitrage strategies) and options fundamentals (definitions, put/call types, moneyness, exercise and position offsetting, returns, valuation bounds, and hedging/speculative/arbitrage strategies).

Sep 26, 2026

Uploaded by eBook King