Upon the invitation from the US Securities Industry and Financial Markets Association (SIFMA), NAFMII held the U.S. Bond Markets Senior Seminar (Session I) in New York from October 24th to November 4th.

The 20 trainees of the seminar are composed of senior managers and business elites from state commercial banks, joint-stock commercial banks, securities companies, large-sized state enterprises and other organizations. Through the seminar, the trainees have formed a comprehensive picture of the current climate of U.S. macroeconomics and bond markets status. Mr. Randy Snook, Executive Vice President of SIFMA, and Mr. Eraj Shirvani, Chairman of the International Swaps and Derivatives Association (ISDA), were presented and addressed at the seminar. Senior experts from JPMorgan Chase, Standard & Poor’s, Goldman Sachs, Bank of America Merrill Lynch, Bank of New York Mellon, Citigroup, Credit Suisse, Deutsche Bank and other renowned financial institutions as well as scholars from Harvard University delivered lectures on nine aspects including the history and characteristics of the U.S. bond markets, product structure and evaluation, credit rating, bonds risk management, bonds investment portfolio management and trading strategy, overview of structured product, the U.S. macroeconomics and the momentum in the money market, the latest trend of bond markets supervision, and financial innovation and supervision. During the classroom teaching, the trainees were actively interacted with the lecturers and took the opportunity to ask many questions. The atmosphere was very lively. During the time in the Sates, the NAFMII delegation also visited Goldman Sachs, Bank of America Merrill Lynch, Citigroup, Credit Suisse, the New York Stock Exchange and other institutions on site to understand the trading process of bonds. The delegation also held meetings with executives of Harvard Business School and the MIT Sloan School of Management for advanced training respectively. Both parties actively explored possible ways to conduct joint training programs.

The complete success of the seminar has not only enabled the trainees to learn the advanced experience of international financial markets and to master the latest supervisory dynamics after the financial crisis, but also helped promoting the development of China’s financial markets through interactive communication.

Group picture of the delegation at the Wall Streets on October 28th.

Group picture of the delegation and Goldman Sachs experts on October 26th.

The delegation visited the New York Stock Exchange and held meeting with experts on October 27th.

The Citigroup experts deliver a class on corporate bond market strategy on October 28th.

The ISDA Chairman gives a class on the dynamics of the credit derivative market, and had a group picture with the delegation on October 29th.

Harvard professor gives a class on financial innovation and supervision on November 1st.