Accounting & FinanceInvestment Management
Postgraduate Diploma in Applied Financial Engineering
- Course Code
- Application Code
- QF Level
- Study mode
- Start Date
- 02 Aug 2019 (Fri)
- Next intake(s)
- Mar 2020
- 1 year to 2 years
- Course Fee
- Module fee: $3900 (* course fees are subject to change without prior notice)
2 installment-:1st- five modules: $19500 and 2nd- six modules: $23400
The Postgraduate Diploma in Investment Management and Financial Intelligence...
Who would benefit from Postgrad Applied Financial Engineering:
1) one who already has basic knowledge of financial products;
2) one who has strong mathematics/statistics background;
3) one who does NOT want the pure theoretical nature of a Master degree;
4) one who wants to learn theories and real life applications in the same course.
Check out our tutors' bio below!
One of the STRONGEST teaching teams in Applied Financial Engineering.
Financial engineering requires the application of mathematical methods and information technology to analyze financial problems quantitatively. Financial engineers are responsible for creating structured financial products, building mathematical risk models as well as developing algorithmic trading system which facilitate effective investment decision making, managing financial and investment risk with quantitative modeling and computing technology. This programme is designed for those who plan to pave their career path as a financial engineer or quantitative analyst. The programme is taught by financial and investment practitioners, who are all senior professionals from investment banks or finance industry.
News about Applied Financial Engineering:
Are fintechs making an impact on treasury functions? by Euromoney
Wall Street's 'witches brew of hockey sticks and financial engineering' by Business Insider
Here's why ad tech is incorporating financial trading technology by Business Insider
金融科技2.0 人才需具「ABCD」技能 《香港經濟日報》
The programme aims to train students to establish financial and trading systems in a logical and scientific way; to deliver the financial and economic knowledge to students and to equip them with financial quantitative analysis capability. It will enable students to manage actual trading operations proficiently and become professional investment traders. After completing the programme, students can enhance their ability to analyze financial and economic issues; to construct hedge fund trading strategies and to calculate the pricing of financial derivatives. Besides, students can set up risk management policies and deal with complex and volatile financial market environments based on the principles of financial engineering and the derivations of applied mathematics.
The programme is taught by practitioners of the finance industry, who are all senior professionals from investment banks or finance firms. They include:
- Ms. Agnes Tse, CFA, is adept at analyzing the impacts of politics on global financial markets. With Master’s degrees in Business Administration and International Relations, her specializations are in monetary policies and currency markets, as well as geopolitics and energy markets. Currently the Head of Research of Action Forex, one of the top 10 global forex websites, Agnes previously worked as analyst for China Everbright Asset Management focusing on Greater China equity markets. She was later an advisor on the investment strategies of a mutual fund in Daiwa Asset Management. Agnes has been a guest speaker in universities in Hong Kong and Europe on topics of Hong Kong's political environment and the financial markets, and China's soft power.
- Mr. Alan Cheung, PRM, CQF, has solid experience in fintech in top tier investment banks, versed in architecting low latency, high frequency algorithmic trading systems. He is currently a Quantitative Strategist on the Equities Desk in Bank of America Merrill Lynch. Alan has a Masters in Mathematical & Computational Finance from the University of Oxford after graduating with First Class Honours in Mathematics with Statistics for Finance from Imperial College London.
- Mr. Sunny Leung, is the Director of Chian Everbright Assets Management. He has more than 10 years of experience in securities trading, risk management, quantitative investment, and automated algorithm trading in Hong Kong's financial markets. Mr. Leung has worked in Daiwa Capital Markets and China Everbright Holdings, focusing on trading system design, quantitative investment, derivative arbitrage, risk management system, artificial intelligence related fields of research. Mr. Leung graduated from the State University of New York, Stony Brook, with a bachelor of computer science and completed his master of finance from the University of Hong Kong.
- Dr. Zenki Kwan, FRM, CAIA, CB, is the investment director of a listed company and a family office in Hong Kong, responsible for investment strategy and portfolio management across equities, fixed income, currency, funds and structured products. He has previously worked in J.P. Morgan, UBS, McKinsey and Samsung Securities. In addition to his doctoral degree, Dr. Kwan also holds Master of Finance and Master of Applied Business Research degrees, and completed executive education programs at Harvard Law School and Oxford University Saïd Business School, respectively.
- Mr. Jimmy Chow, CFA, has over 20 years of experiences in the financial services industry, across the US and Asia. He was a Director of JPMorgan and Citibank. He also worked in the New York office of the UK Barclays Capital designing structured products. He was also a director with Rothschild Bank in Hong Kong. The teacher, being a CFA holder, has a Master Degree in Finance from Columbia University, Certificate of Asset Management from NYU, a Bachelor Degree in Engineering from the CCNY in NY, being the first Asian student in the school’s history to receive the Alumni Award after earning a perfect GPA of 4.0/4.0.
- Mr. Jonathan Sum, Programme Director and Senior Lecturer, Institute of China Business, HKU SPACE
- Dr. Lai Man-Kit, CFA, is currently a professional trainer at Executive Training and Management Consultancy as well as a visiting scholar at HKUST. Dr. Lai has extensive knowledge in teaching adult continuing education. He was also an Assistant Professor at City University from 1994-2000.
Mr. Ferrix Lau, ACS, ACIS, CFA, FRM, has more than 10 years of teaching experience in business, accounting and finance modules at tertiary level. He has strong interest in teaching Financial Analysis, Financial Risk Management, Quantitative Analysis, Financial Accounting, Cost and Management Accounting as well as Corporate Governance. Also, he is a co-author of a Statistics book, Quantitative Analysis for Professional Studies and Projects. Ferrix has earned a Bachelor Degree in Social Science from The Chinese University of Hong Kong, major in Economics and minor in Computer Science. Besides, he holds a Master degree in Business Administration with Distinction from The University of Hong Kong, concentrating on the theme of Accounting Control and Financial Management.
Dr. Keith Wong, FRM, ASA, has product control (on interest rate derivatives) and global markets model review experiences in a top tier investment bank for more than 4 years. Prior to that Keith also worked in different areas in the finance industry, including treasury asset and liability management and actuarial analysis. In the meantime, Keith has tertiary teaching experience since 2014.
Mr. Ken Liu, co-founder and CTO of Datatact Ltd, a startup focus on AI, Machine Learning and Big Data analytics. He is a hands on expert in his specialized area for over 10 years. Prior to Datatact, Ken worked at Citi, HSBC, Goldman Sachs, Deutsche Bank and Credit Suisse as Algo-Trading developer. Ken earned a Master in Computer Science from USC and a Bachelor in Computer Science from University of Warwick.
On completion of the programme, students should be able to
- critically analyze the problems faced by the global financial markets and economic systems, in combination with the financial derivatives and hedging strategies to establish an appropriate investment strategy;
- systematically analyze the structure of derivatives and financial products;
- apply financial models efficiently with various principles and theories in quantitative finance and financial engineering;
- develop financial trading programmes in systematic and computerized methods and formulate trading tactics effectively with rational investment behaviours as well as proper risk management policies;
- set up investment trading systems and portfolios applicable to the actual investment environments with the integration of analysis of financial information, investment tools and strategies, financial engineering models and investment disciplines.
Graduates of the Postgraduate Diploma in Applied Financial Engineering may be able to articulate to Edinburgh Napier University’s Master of Science in International Banking and Finance with two exemptions for Financial Management and Financial Markets, Institutions and Banking.
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Days / Time
- Mon, Fri, Sat, Sun, -
All modules are 18 hours face-to-face lectures. Assessments will all be take home assignements or projects, unless indicated below. Student pursuing this programme must successfully complete the following 11 modules.
Module 1 - Global Finance and Economics (Examination based)
- Topics: Analysis of Global Economic Development, International Trade and International Relations, Financial Market System, Financial and Capital Market Policy, Financial Development and Market Operations
Module 2 - Statistical and Quantitative Methods in Finance
Topics: Modern Finance and Mathematical Methods, Application in Statistics, Tools of Quantitative Finance
Module 3 - Derivatives and Investment Strategy (Examination based)
- Topics: Development and operation of the financial derivatives market, Types of financial derivatives, Hedge fund operations, Investment strategy application analysis
Module 4 - Financial Time Series Analysis
- Topics: Two variables and multivariate linear regression analysis, The linearity of Non Linear Model, Simultaneous Equation Models, Time-Series Models
Module 5 - Mathematical Modeling in Finance
- Topics: Introduction to Financial Engineering and Development Motivation, Development of Financial Engineering and Theories in Finance, Financial Derivatives Pricing Model, Other underlying asset options and exotic options
Module 6 - Fixed Income Securities and Interest Rate Models Analysis
- Topics: Bond Interest Rate Risk Analysis, Fixed Income Securities Pricing, Pricing of Mortgage -Backed Bonds and Asset-Backed Bonds and Mortgage Pass Through Securities, Fixed-Income Securities Trading Strategies, Common Interest Rate Models, Application of Interest Rate Models
Module 7 - Techniques and Software in Applied Financial Engineering
- Topics: Monte Carlo, Random Number and Random Variable Generation, Sample Path Construction, The Variance Reduction Techniques, Matlab, Practical Application and Case Studies
Module 8 - Financial Risk Management and Optimization
- Topics: Financial Engineering Applications Overview, Interest Rate Risk, Market Risk, Credit Risk, Portfolio Optimization
Module 9 - Logics and Operations of Algorithmic Trading
- Topics: Introduction to Algorithmic Trading, Operation of Algorithmic Trading, Programme Trading Operations, Risk Control and Financial Management Systems
Module 10 - Behavioural Finance (Examination Based)
- Topics: The Efficient Market Hypothesis and the Challenges, Expected Utility Theory and Its Challenges, Investor’s Cognition , Emotion And Behavioural Bias, Behaviour Investment Strategy
Module 11 - Final Project
- Students must complete the other 10 modules before taking this
i) hold a bachelor’s degree awarded by a recognized institution, with 3 years’ relevant work experience; OR
ii) possess a recognized qualification in financial industry such as CFA, FRM, etc. with 3 years’ relevant work experience;
B) provide evidence of English proficiency (if the degree or equivalent qualification is from an institution where the language of teaching and assessment is not English) such as:
i) an overall band of 6.0 or above with no subtests lower than 5.5 in the IELTS; or
ii) a score of 550 or above in the paper-based TOEFL, or a score of 213 or above in the computer-based TOEFL, or a score of 80 or above in the internet-based TOEFL; or
iii) HKALE Use of English at Grade E or above; or
iv) HKDSE Examination English Language at Level 3 or above; or
v) equivalent qualifications.
Applicants with other professional qualifications and relevant work experience will be considered on individual merit.
HK$150 (Non-refundable)Course Fee
- Module fee: $3900 (* course fees are subject to change without prior notice)
2 installment-:1st- five modules: $19500 and 2nd- six modules: $23400
Online Application Apply Now
Application Form Application FormEnrolment Method
HKU SPACE provides 24-hour online application and payment service for students to make enrolment for most open admission courses (courses enrolled on first come, first served basis) and selected award-bearing programmes via the Internet. Applicants may settle the payment by using either PPS, VISA or Mastercard online.
Complete the online application form
Applicant may click the icon on the top right hand corner of the programme/course webpage to make online application, and then follow the instructions to fill in the online application form.
Some programmes/courses may be admitted by selection, and may require applicants to provide electronic copy of any required documents (e.g. proof of qualification) as indicated on the programme/course webpage. Only file format in doc, docx, jpg and pdf are supported.
Make Online Payment
Pay the programme/course fees by either using:
PPS via Internet - You will need a PPS account and a PPS Internet password. For information on how to open a PPS account and how to set up a PPS Internet password, please visit http://www.ppshk.com.
Credit Card Online Payment - Course fees can be paid by VISA or Mastercard including the “HKU SPACE Mastercard”.
To know more about online enrolment and payment, please refer to the user guide of Online Enrolment and Payment:
In Person / Mail
For first time enrolment
Applicants must provide all the required information on the application form and any additional information as required after the intial application assessment. Otherwise the School may not be able to process the admission/enrolment further.
- For first come, first served short courses, complete the Application for Enrolment Form SF26 and bring or post the completed form(s), together with the appropriate application/course fee(s) and any required supporting documents to any of the HKU SPACE enrolment centres.
- Award-bearing and professional courses may require other information. Forms are usually available at the enrolment centres or on request from programme staff. Bring or post the completed form(s), together with the appropriate application/course fee(s) and any required supporting documents to any of the HKU SPACE enrolment centres.
For continuing enrolment in the same course
In person or by post
- The standard ‘Enrolment/Payment Slip’ is designed for students of award-bearing programmes or remaining programmes in a suite of programmes requiring continuing enrolment and it applies to most programmes.
- Students should complete the “Enrolment/Payment Slip” which will be made available by relevant programme staff and return the slip to any HKU SPACE enrolment centre or post it to the relevant programme staff with appropriate fee payment.
If you are in doubt about the procedures, please check the individual course details, or contact our programme staff or enrolment centres.
Please note the followings for programme/course enrollment:
- Applicants should not leave the online application idle for more than 10 minutes. Otherwise, applicants must restart the application process.
- Only S-MILES and Early Bird Discount are supported in Online Applicants (Application). To enjoy other types of discount, please visit one of our enrolment centres.
- During the online application process, asynchronous application and payment submission may occur. Successful payment may not guarantee successful application. In case of unsuccessful submission, our programme staff will contact you shortly.
- Applicants are reminded that they should only apply for the same programme/course once through counter or online application.
- For online enrolment, payment confirmation page would be displayed after payment has been made successfully. In addition, a confirmation email would also be sent to your email account. You are advised to keep your payment confirmation for future enquiries.
- Fees paid are not refundable except as statutorily provided or under very exceptional circumstances (e.g. course cancellation due to insufficient enrolment).
- If admission is by selection, the official receipt is not a guarantee that your application has been accepted. We will inform you of the result as soon as possible after the closing date for application. Unsuccessful applicants will be given a refund of programme/course fee if already paid.
The School provides a platform for online services for a selected range of products it offers. While every effort is made to ensure timeliness and accuracy of information contained in this website, such information and materials are provided "as is" without express or implied warranty of any kind. In particular, no warranty or assurance regarding non-infringement, security, accuracy, fitness for a purpose or freedom from computer viruses is given in connection with such information and materials.
The School (and its respective employees and subsidiaries) is not liable for any loss or damage in connection with any online payments made by you by reason of (i) any failure, delay, interruption, suspension or restriction of the transmission of any information or message from any payment gateways of the relevant banks and/or third party merchants for processing credit/debit/smart card or other payment facilitation mechanism; (ii) any negligence, mistake, error in or omission from any information or message transmitted from the said payment gateways; (iii) any breakdown, malfunction or failure of those gateways in effecting online payment service or (iv) anything arisen out of or in connection with the said payment gateways, including but not limited to unauthorised access to or alternation of the transmission of data or any unlawful act not permitted by the law.
1. Cash or EPS
Cash or EPS are accepted at any HKU SPACE Enrolment Centres.
2. Cheque or bank draft
Course fees can also be paid by crossed cheque or bank draft made payable to “HKU SPACE”. Please write the programme title(s) and the applicant’s name on the back of the cheque. You may either:
- in person by submitting the payment, completed form(s), and required supporting documents to any of our enrolment centres; or
- by mailing the above documents to any of our enrolment centres, specifying “Course Application” on the envelope.
Course applicants, who are holders of HKU SPACE Mastercard, can enjoy a 10-month interest-free instalment period for courses of HK$2,000 and over. For enquiries, please contact our enrolment centres.
4. Online payment
Online payment for short courses (first come, first served) and selected award-bearing programmes is available using PPS, VISA or Mastercard. Please refer to the Online Services page on the School website.
- For general and short courses, applicants may be required to pay the course fee in cash or by EPS, Visa or Mastercard if the course is to start shortly.
- Fees paid are not refundable except under very exceptional circumstances (e.g. course cancellation due to insufficient enrolment), subject to the School’s discretion. In exceptional cases where a refund is approved, fees paid by cash, EPS, cheque or online PPS will be reimbursed by a cheque; fees paid by credit card will be reimbursed to credit card account used for payment.
- In addition to the published fees, there may be additional costs associated with individual programmes. Please refer to the relevant course brochures or direct any enquiries to the relevant programme teams for details.
- Fees and places on courses are not transferrable. Once accepted onto a course, the student may not change to another course without approval from HKU SPACE. A processing fee of HK$120 will be levied on each approved transfer.
- HKU SPACE will not be responsible for any loss of payment, receipt, or personal information sent by mail.
- For additional copies of receipts, please submit a completed form, a sufficiently stamped and self-addressed envelope, and a crossed cheque for HK$30 per copy made payable to ‘HKU SPACE’ to any of our enrolment centres. Such copies will normally be issued at the end of a course.