Read the trade
Understand cashflows, conventions, lifecycle events, and the economic purpose of each product.
Rates / Curves / Options
Mastering Interest Rate Derivatives
Build the desk-ready intuition and practical workflow to price, risk, and hedge SOFR swaps, curves, caps, floors, and swaptions.
IRDERIVS25_SEP_2026
Offer ends September 30
12Focused modules
20-25HVideo and applied work
SOFR / SWAPS / SWAPTIONSFrom market conventions to model risk
What you will build
Move from product language to a working pricing and risk process.
The course connects market conventions, cashflows, curves, valuation, and risk into one coherent rates workflow. Examples are grounded in the way products are discussed across trading floors, treasury teams, and risk functions.
Build the market
Translate liquid instruments into discount and projection curves with explicit assumptions.
Price end to end
Move from trade economics and market data to present value, par rate, and sensitivities.
Explain the exposure
Interpret Greeks, model choices, hedges, and the behavior of optional rates products.
Your instructor
Tim Glauner
Finance professional with FICC trading-floor and treasury experience
Tim brings more than 25 years of capital-markets experience from New York, London, and Paris. His teaching connects the mathematics to the desk conversation, making complex products understandable without sanding away the details that matter.
25+ years in capital markets
500+ professionals trained
NY / LON / PAR market perspective
The curriculum
Twelve modules. One connected rates framework.
Start with the language of rates, then progress through valuation, curve construction, options, market infrastructure, and real-world use cases.
Grasp the core concepts behind interest rates and the forces that shape their movement.
- Yield curves and term structure
- Economic factors affecting rates
- Interest rate theories and models
Understand the structures, purposes, and market uses of the core rates instruments.
- Forwards, futures, and options
- Swaps and structured products
- Trading and hedging applications
Price fixed and floating cashflows, derive par rates, and connect valuation changes to risk.
- Swap pricing fundamentals
- Present value and par rate
- Risk-management applications
Walk from entered trade economics and market inputs to curves, value, and Greeks.
- Step-by-step pricing process
- Curve construction and calibration
- Greeks calculation and interpretation
Construct the discount and projection curves used to price and risk-manage modern rates products.
Value caps and floors and understand their role in managing asymmetric interest-rate exposure.
Study swaption types and use cases, callable swaps, and the Bachelier and Hull-White pricing models.
Connect swap structures to practical hedging, funding, relative-value, and asset-liability decisions.
Relate rates to foreign exchange through interest-rate parity and main-money currency concepts.
Understand how collateral terms, discounting, and operational choices affect derivative valuation.
Place rates markets within the institutions and funding structures that influence liquidity and monetary transmission.
See how trading, sales, structuring, risk, treasury, operations, and technology work together across the product lifecycle.
Built for the market
Technical enough for practitioners. Clear enough to build from first principles.
Analysts
Build a rigorous product foundation for trading, risk, treasury, or operations roles.
Finance students
Add practical market workflows to an academic finance or economics foundation.
Senior professionals
Refresh product depth and connect specialist concepts across adjacent functions.
Engineers and quants
Link implementation work to the economic meaning of trades, curves, and risk.
Student perspective
Clear explanations, practical depth.
"I started this course knowing almost nothing about interest rate derivatives - now I feel like I've unlocked a whole new world. It's clear, engaging, and builds your understanding from the ground up."
"Great course. The professor added swaptions and is even further evolving the course. He also answers questions if needed."
"The teacher has deep knowledge and explains in a way that is both clear and high-quality. Many important concepts are included."
September 2026 course offer
Take the full rates workflow with you.
Enroll through Udemy for lifetime access to all 12 modules, downloadable resources, practice materials, future updates, and a certificate of completion.
30-day money-back guarantee
Subject to Udemy's refund policy.
Subject to Udemy's refund policy.
Before you enroll
Frequently asked questions.
Course access and payment are handled by Udemy. The curriculum is designed to meet learners where they are and build depth progressively.
A basic understanding of finance is helpful, but not required. The course starts with fundamentals and progressively builds toward more complex products and models.
You have lifetime access to the course content through Udemy, including future course updates.
Yes. Udemy provides a certificate of completion that can be added to LinkedIn or your resume.
The material follows end-to-end workflows and real market use cases, linking product theory to inputs, pricing, sensitivities, and risk decisions.
Udemy offers a 30-day money-back guarantee, subject to its refund policy and eligibility rules.
Many learners can apply concepts from the early modules immediately. The complete course takes approximately 20-25 hours, but each module is designed to stand on its own.
Master the curve
Understand what the desk sees.
Move from rates fundamentals to practical valuation and risk with one connected course.
Start the course