With complex financial instruments emerging across the globe, apex accounting body ICAI has come up with courses on derivatives, forex andtreasury management for the chartered accountants.

"The course becomes important because new financial instruments are evolving around the world and changes in foreign exchange impact businesses largely. We want our CAs to know everything about such instruments so that they take informed decision about them," Director of the courses, Charanjot Singh Nanda said here.

The courses cover foreign exchange and money markets, bond market operations and related financial products.

Forex and treasury management course aims at helping analyse the international finance environment within which banks, other intermediaries and companies operate and how it affects their operations in treasury.

The course on derivatives covers financial instruments such as forward contracts, futures contracts, options, swaps and other recently created derivatives.

This would enable chartered accountants to understand derivatives instruments in a wide range of hedging, trading and arbitrage purposes and would help them in making sound financial decisions in an international context.

Initially, the course would be started in New Delhi, Mumbai, Kanpur, Kolkata and Chennai, registration for which has started from October 15.

However, the institute is still working out the modalities of the duration of the course and how it would evolve.