Activities

Module 201 – Equity Futures Analysis
Course Outline

• Index producer, composition, and types of equity indices (TFEX SET50)
• Equity index valuation – the concept of Fair Value (FV)
• Factors affecting FV – dividend forecasting and interest rates
• Events affecting FV – rebalancing
• Market microstructure and flow analysis
• Common strategies for trading the equity index calendar spreads
• Arbitrage between synthetic and exchange-listed spreads
• Directional trading of the calendar spreads
• Introduction to Single Stock Futures (SSF)
• The Mechanics and valuation of SSF
• Trading Strategies and risk management for SSF

Learning Objectives

• Understand the concept of equity index valuation and the importance of Fair Value (FV) in trading.
• Familiarize with the index producer, composition, and types of equity indices.
• Learn the factors affecting FV, including dividend forecasting and interest rates.
• Grasp the events affecting FV, such as rebalancing.
• Understand how to apply equity index valuation in practical trading scenarios.
• Learn about market microstructure and flow analysis.
• Master common strategies for trading the equity index calendar spreads.
• Explore arbitrage between synthetic and exchange-listed spreads.
• Study directional trading of calendar spreads and mean-reversion trading.
• Gain a foundational understanding of Single Stock Futures and their significance in the derivatives market.
• Learn the mechanics and contract specifications of SSF, including how leverage works.
• Understand the pricing models for SSF and the factors that influence pricing.
• Master risk management techniques applicable to SSF trading.
• Explore and develop various trading strategies tailored to SSF.

Learning Outcomes
Upon completion of this module, participants will be able to:

• Apply the concept of equity index valuation to identify profitable trading opportunities.
• Analyze the factors affecting FV and their impact on equity index valuation.
• Implement equity index valuation techniques in real-world trading situations.
• Employ market microstructure and flow analysis to make informed trading decisions.
• Develop and execute various calendar spread strategies.
• Identify arbitrage opportunities between synthetic and exchange-listed spreads.
• Explain the fundamentals of Single Stock Futures and their role in financial markets.
• Calculate SSF pricing using relevant models and understand the impact of dividends and interest rates.
• Implement effective risk management strategies in SSF trading.
• Apply specific trading strategies for SSF, including speculative, hedging, and arbitrage techniques.
• Conduct comprehensive market analysis to inform SSF trading decisions.

Module 202 – Commodities Market Dynamics
Course Outline

• Characteristics of commodities (TFEX Gold)
• Fundamental considerations
• Market microstructure and flow analysis
• Common strategies for trading the commodity calendar spread
• Arbitrage between synthetic and exchange-listed spreads
• Trading the Term Structure and
• the Seasonal Structure

Learning Objectives

• Understand the characteristics of commodities and their respective futures contracts.
• Learn the fundamental considerations when trading commodity futures.
• Study market microstructure and flow analysis for commodity trading.
• Master common strategies for trading the commodity calendar spreads.
• Explore trading the term structure and seasonal structure of commodities.

Learning Outcomes
Upon completion of this module, participants will be able to:

• Analyze the fundamental factors affecting the commodity futures market.
• Apply market microstructure and flow analysis in commodity trading decisions.
• Execute various commodity calendar spread strategies to capitalize on market opportunities.
• Employ term structure and seasonal structure analysis for improved trading performance.

Module 203 – Advanced Trading Methodologies
Course Outline

• Introduction to Advanced Trading Strategies: Overview of technical analysis, statistical arbitrage, trend following, and mean reversion strategies.
• Technical Analysis in Depth: Chart patterns, trend lines, indicators, and oscillators.
• Statistical Arbitrage: Concepts, identification of opportunities, and implementation in derivatives trading.
• Trend Following Strategies: Identifying trends, entry and exit points, and risk management.
• Mean Reversion Strategies: Understanding mean reversion, identifying opportunities, and strategy formulation.
• Integrating Fundamental Analysis: Enhancing trading strategies with fundamental analysis insights.
• Risk Management and Position Sizing: Advanced techniques for managing risk and determining optimal position sizes.
• Algorithmic Trading Basics: Introduction to algorithmic trading, strategy development, and backtesting.
• Trading Psychology: Understanding the psychological aspects of trading and how to maintain discipline.

Learning Objectives

• Gain a comprehensive understanding of various advanced trading strategies and their applications in derivatives trading.
• Deepen knowledge of technical analysis and its tools for trading decision-making.
• Master the principles of statistical arbitrage and its application in identifying trading opportunities.
• Learn to identify and exploit trends using trend-following strategies.
• Understand the concept of mean reversion and how to apply it in trading strategies.
• Incorporate fundamental analysis into trading strategies for a holistic approach.
• Enhance risk management skills with advanced techniques and understand the importance of position sizing.
• Get introduced to the basics of algorithmic trading, including strategy development and back testing.
• Acknowledge the psychological challenges in trading and strategies to overcome them.

Learning Outcomes
Upon completion of this module, participants will be able to:

• Apply a range of advanced trading strategies to optimize their trading approach.
• Utilize technical analysis effectively to make informed trading decisions.
• Implement statistical arbitrage strategies to exploit price inefficiencies.
• Develop and execute trend following and mean reversion strategies in the context of derivatives trading.
• Integrate fundamental analysis with technical strategies for a comprehensive market analysis.
• Apply advanced risk management and position sizing techniques to enhance trading performance.
• Understand the basics of algorithmic trading and its potential to improve trading efficiency.
• Recognize and manage the psychological aspects of trading to maintain discipline and decision-making quality.

Module 301 – Trading Simulation and Practical Application
Course Outline

• The daily routine of a professional trader
• Setting up like a Pro – advanced trading system and tools
• Trade under the guidance of our seasoned traders in simulated live market conditions
• Calendar spread strategies
• Inter-market and synthetic spread strategies
• Inter-product pairs trading
• Equity index inter-product arbitrage (one leg being TFEX SET50 futures)
• Commodity inter-product arbitrage (one leg being TFEX Gold futures)
• Single Stock Futures arbitrage
• Portfolio Management - managing your currency exposure with currency futures

Learning Objectives

• Experience the daily routine of a professional trader.
• Learn about advanced trading systems and tools.
• Understand the importance of setting up a professional trading environment.
• Practice trading under the guidance of seasoned traders in simulated live market conditions.
• Comprehend inter-product pairs trading.
• Learn about portfolio management and managing currency exposure with currency futures.

Learning Outcomes
Upon completion of this module, participants will be able to:

• Apply the knowledge and skills acquired from Modules 101-103 in a simulated trading environment.
• Utilize advanced trading systems and tools for improved trading performance.
• Develop the ability to make informed trading decisions under the guidance of experienced traders.
• Demonstrate proficiency in various trading strategies, including calendar spread strategies, inter-market spread strategies, and synthetic spreads.
• Utilize inter-product pairs trading techniques to diversify their trading portfolio.
• Manage their portfolio effectively and hedge currency exposure using currency futures.

Andy Tan, Trainer

• 33 years of experience in the derivatives industry
• 5 years of training experience in the derivatives industry

Andy Tan is a Partner, Director, and CEO at Synergy Link Capital. With a career spanning over three decades, Andy has established himself as a seasoned professional in the financial industry. His journey commenced in 1991 at Simex (Singapore International Monetary Exchange), where he started as a broker. Andy has consistently demonstrated exceptional skills and dedication through the years, gradually ascending the professional ladder. By 1997, Andy was pivotal as the Director and Floor Manager at Merrill Lynch Futures Singapore Pte Ltd., entrusted with crucial responsibilities, including compliance oversight and driving business development initiatives.

In 2005, in response to industry shifts such as the closure of trading floors, Andy smoothly transitioned to the Equity Index Arbitrage desk. He immersed himself in trading and market making activities involving various financial instruments like stocks, futures, ETFs, and ADRs until 2011. This period showcased his adaptability and highlighted his ability to navigate the multifaceted landscape of financial markets.

In 2012, Andy embraced new challenges by joining Synergy Link Capital, a proprietary trading firm. Leveraging his extensive experience, he became an integral part of the firm's success.

A notable milestone occurred in 2020 when Andy played a pivotal role in founding Inspirante Trading Solutions. As the CEO of both Synergy Link Capital and Inspirante Trading Solutions, Andy has been instrumental in shaping the direction and nurturing the business development of these entities. His leadership continues to be a driving force behind their growth and success.

As a seasoned expert, he brings a wealth of insights and expertise that subtly enhance any discussion on financial markets and trading strategies.

Michael Sim, Trainer

• 33 years of experience in the derivatives industry
• 5 years of training experience in the derivatives industry

Michael Sim is a Partner, Director, and CFO at Synergy Link Capital. With a distinguished career spanning over three decades in the derivatives space, Michael has witnessed and actively contributed to the transformative journey from traditional exchange floor trading to the contemporary electronic trading landscape.

Michael's career began at Merrill Lynch, where he gained invaluable insights and experience from both the buy-side and sell-side perspectives of the industry - this foundational period equipped him with a profound understanding of the complexities of financial markets and trading strategies.

As a specialist in market microstructure, Michael's expertise encompasses the intricate dynamics of index valuation and spread trading. His analytical skills and strategic acumen have been pivotal in navigating the evolving landscape of derivatives trading, enabling him to consistently deliver superior results.

In addition to his professional accomplishments, Michael's entrepreneurial spirit is evidenced through his co-founding of Inspirante Trading Solutions. Here, his passion for growing and nurturing the trading community truly shines. His leadership and vision have been instrumental in fostering a collaborative environment that encourages innovation and continuous learning.

Michael's extensive experience and deep industry knowledge make him a valuable asset to Synergy Link Capital. His contributions extend beyond technical expertise; he is also dedicated to mentoring and developing the next generation of traders. His commitment to education and professional growth is reflected in his active involvement in training programs and initiatives to enhance aspiring traders' skills and competencies.

As a seasoned expert in the financial markets, Michael brings a wealth of insights and expertise that enrich any discussion on trading strategies and market dynamics. His holistic approach to trading, coupled with his dedication to fostering a thriving trading community, underscores his significant role in the success and growth of Synergy Link Capital.

Wan Zuhao, Facilitator

• 9 years of experience in the derivatives industry
• 5 years of training experience in the derivatives industry

Wan Zuhao is a Partner, Director, and CTO at Synergy Link Capital, where his tenure since 2015 has been marked by significant contributions to the firm's research direction and technological advancement. With a solid background in quantitative analysis and computer science, Zuhao has been instrumental in developing key strategies and algorithmic trading systems, underpinning the firm's success in financial derivatives trading. His leadership in crafting a comprehensive risk management system has played a crucial role in enhancing the firm's operational resilience and efficiency. This initiative reflects his strategic insight and commitment to maintaining the firm's competitive edge in a dynamic industry.

Beyond his role at Synergy Link Capital, Zuhao co-founded Inspirante Trading Solutions, a venture that represents his dedication to advancing the educational and fintech aspects of the trading community. This initiative has been pivotal in fostering innovation and learning within the financial sector.

Zuhao's expertise is regularly recognized by major exchanges, including CME, Nasdaq, SGX, and BMD, where he is invited to contribute market research and analysis and present seminars for professional traders. His collaboration with CME on the bi-weekly "Fresh From the Trading Room" publication has made a significant impact, establishing it as a flagship research product with a worldwide readership. Through his strategic foresight and innovative approach, Wan Zuhao continues to make a substantial impact on Synergy Link Capital, Inspirante Trading Solutions, and the broader financial community, driving forward the boundaries of trading, financial technology, and education.

Dylan Chan, Facilitator

Dylan Chan joined Synergy Link Capital (SLC) and Inspirante Trading Solutions (ITS) in 2021 as a research analyst. He graduated magna cum laude from Singapore Management University (SMU) with a major in Quantitative Finance, where he developed a strong foundation in financial theory, quantitative methods, and data analysis.

In his role at SLC, Dylan has been pivotal in architecting and refining a suite of crucial tools that underpin the firm’s trading and back-testing operations. His development of proprietary research tools has endowed the firm with a distinct competitive edge in the market, marrying quantitative finesse with strategic market insights. These innovations have not only optimized the firm’s trading methodologies but have also significantly elevated its research capacity.

Dylan's contributions extend beyond internal developments. He frequently provides market commentary in collaboration with leading exchanges such as the Chicago Mercantile Exchange (CME) and the Singapore Exchange (SGX). Through these collaborations, he articulates the team’s outlook on various market topics and ideas, further enhancing the firm's reputation and influence in the financial community.

As a senior research analyst and trader, Dylan's expertise and innovative approach continue to drive the firm's success, making him an invaluable asset to the Synergy Link Capital team.