Instructor
Jeff Kidwell
Jeffrey Kidwell graduated with a B.A. from Cornell University in 1982. He has been an active senior architect in the repo and securities lending industry ever since. From 1982 to 2004, Jeff worked at Morgan Stanley, where he was the Head of the North American Repo Desk (Trading and Sales) and an Executive Director and helped build the business into one of the top repo desks on the Street. While there, he also helped build the European Repo Desk and managed the Canadian Repo Desk.
He then became the Co-Head of the Global Repo Desk (Trading and Sales) and Managing Director for Cantor Fitzgerald from 2004-2008, where he helped build it into a successful, brand-new Primary Dealer of the Federal Reserve. Both of his jobs at Morgan Stanley and Cantor Fitzgerald had him based in New York City. But, after 26 years based in NYC, Jeff moved to Palm Beach Gardens, FL, and from 2008-2018, he was the Creator and Head of Direct Repoâ„¢, his OTC peer-to-peer financing, and the Director of AVM Solutions at AVM, L.P., a registered broker-dealer In Boca Raton, FL, affiliated with hedge fund III Capital Management.
Course Overview
Learn about the Repo business from inception how it is performed in the market place. This course also provides a comprehensive overview of the fixed income repo product. Learn about the economic motivations of market players, the main trading structures, delivery methods, risk elements, regulations and trade examples.
Course Objectives
• Learn about the creation of the Repo market and how the past has shaped the fundamental regulations and market behavior.
• Learn key concepts associated with essential terminology and definition of activities in the Repo market.
• Be able to distinguish between Bids and Offers, Repos and Reverse Repos, and the Specials market versus General Collateral market.
• You will learn about the regulations that are most important to the Repo market and what their impact has been or will be.
• Taught calculations and taught how to trade a Repo Matched Book and other examples in Repo Trading Strategies. This means, you should become very comfortable in trading a Repo Book for your own firm.
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