Financing a trade
Repo & Securities Lending

Without the ability to finance long and short positions there would be no liquid markets. This is especially true for the derivatives markets. Without financing there is no arbitrage and without arbitrage the price structure between spot, forwards, swaps, and options disintegrates. How to finance a trade and the understanding of the Repo and Security Lending market is so central to finance, that we decided to offer these 3 lectures as a course of its own. But please note, that these lectures are also an integral part of the Derivatives Advanced and the Total Return Swap course.