203 - FINANCIAL MARKETS

Master in Finance

1
 An international
program with all
courses in English
Increase your career opportunities to
leading jobs in the investment banking and
financial sector

COURSE OBJECTIVES
THE MASTER To train future specialists in financial markets who can put their skills
to work for banks and investment firms, asset management firms,
IN FIGURES consultancies, insurance companies or major firms. ADMISSIONS CURRICULUM
It trains students in all professions linked to investments on financial
instruments markets and financing based on market techniques. A 2-year Master’s program after a Bachelor’s

97 000
It is designed to provide students with an in-depth knowledge that is
theoretical, quantitative and operational, for all products traded on these
markets.
The heart of the program focuses on valuation and negotiation
Dauphine Alumni techniques, as well as investment strategies, arbitrage, hedging and risk
management.
Courses cover all products: Equities, interest rate instruments, exchange
2 3
The admissions procedure is open to all students
who have completed a Licence or a M1 at a French
university, graduates of engineering and business
schools (Grandes Ecoles) and students who have
successfully completed a Bachelor or a master’s
degree.
The latest information is available online.
degree, a French Licence or a French Grande
Ecole
3 semesters of courses
8 month internship per year or equivalent
(summer internship and/or graduate program)

1 282
1 master thesis
rate, commodities...with a special focus on derivatives markets. Downloading application forms
Application forms will be available via the A 1-year degree program after completing a
Université Paris-Dauphine website as of February. Master in Economics, Finance or Mathematics
Master Financial
Deadline for applications 2 semesters of courses
Markets - 203 Alumni KEY REASONS TO CHOOSE THE MASTER Check online 8 month internship or equivalent
FINANCIAL MARKETS - 203 (summer internship and/or graduate program)
Required documents
Quality teaching faculty Cover letter and CV in English, complete *Graduates from a French Grande Ecole may
Master alumni in World-class faculty and professional experts transcripts for each university year, TOEFL iBT and apply for the 1-year program. Admission is granted
GMAT results dating back no more than 2 years. by the Master’s director during the admissions

34
Rigorous intensive 2-year program process after examination of the student’s profile.
2 semesters of core courses, 1 semester of elective courses and 1 Admissibility and organization of oral tests for
semester internship short-listed candidates
Check online
Countries Convenient city location
Classes are mostly taught at La Défense, the business district of Paris. Oral tests

55% Students have also access to the Université Paris Dauphine - PSL
Campus in site.
Motivation interviews in English and tests of
spoken English
FRANCE
Université Paris Dauphine-PSL

will be organized sometimes. Dates are available

Robust and worldwide alumni network online.
Dauphine alumni: 92 700
Master Financial Markets - 203 alumni: 1216 Admissions
Master Financial Markets - 203 alumni in 29 countries (55% in France, Definitive admissions will be announced shortly
45% abroad) after the oral tests. Date is available online.

45% Master 203 students do not need to speak French to enroll in the
ABROAD program as all courses are offered in English.
 An international
program with all
courses in English
Increase your career opportunities to
leading jobs in the investment banking and
financial sector

COURSE OBJECTIVES
THE MASTER To train future specialists in financial markets who can put their skills
to work for banks and investment firms, asset management firms,
IN FIGURES consultancies, insurance companies or major firms. ADMISSIONS CURRICULUM
It trains students in all professions linked to investments on financial
instruments markets and financing based on market techniques. A 2-year Master’s program after a Bachelor’s

97 000
It is designed to provide students with an in-depth knowledge that is
theoretical, quantitative and operational, for all products traded on these
markets.
The heart of the program focuses on valuation and negotiation
Dauphine Alumni techniques, as well as investment strategies, arbitrage, hedging and risk
management.
Courses cover all products: Equities, interest rate instruments, exchange
2 3
The admissions procedure is open to all students
who have completed a Licence or a M1 at a French
university, graduates of engineering and business
schools (Grandes Ecoles) and students who have
successfully completed a Bachelor or a master’s
degree.
The latest information is available online.
degree, a French Licence or a French Grande
Ecole
3 semesters of courses
8 month internship per year or equivalent
(summer internship and/or graduate program)

1 282
1 master thesis
rate, commodities...with a special focus on derivatives markets. Downloading application forms
Application forms will be available via the A 1-year degree program after completing a
Université Paris-Dauphine website as of February. Master in Economics, Finance or Mathematics
Master Financial
Deadline for applications 2 semesters of courses
Markets - 203 Alumni KEY REASONS TO CHOOSE THE MASTER Check online 8 month internship or equivalent
FINANCIAL MARKETS - 203 (summer internship and/or graduate program)
Required documents
Quality teaching faculty Cover letter and CV in English, complete *Graduates from a French Grande Ecole may
Master alumni in World-class faculty and professional experts transcripts for each university year, TOEFL iBT and apply for the 1-year program. Admission is granted
GMAT results dating back no more than 2 years. by the Master’s director during the admissions

34
Rigorous intensive 2-year program process after examination of the student’s profile.
2 semesters of core courses, 1 semester of elective courses and 1 Admissibility and organization of oral tests for
semester internship short-listed candidates
Check online
Countries Convenient city location
Classes are mostly taught at La Défense, the business district of Paris. Oral tests

55% Students have also access to the Université Paris Dauphine - PSL
Campus in site.
Motivation interviews in English and tests of
spoken English
FRANCE
Université Paris Dauphine-PSL

will be organized sometimes. Dates are available

Robust and worldwide alumni network online.
Dauphine alumni: 92 700
Master Financial Markets - 203 alumni: 1216 Admissions
Master Financial Markets - 203 alumni in 29 countries (55% in France, Definitive admissions will be announced shortly
45% abroad) after the oral tests. Date is available online.

45% Master 203 students do not need to speak French to enroll in the
ABROAD program as all courses are offered in English.
 Thibault GODBILLON TARGETED JOBS CORE COURSES
Policy Expert, Supervisory Review, Recovery and
Resolution, EBA
Front office Applied Time Series (24h)
Benoit GUILLEMINOT Trading, Sales and Structuring of financial Careers Oriented Courses (48h)
Director of Research and Innovation, Riskelia
instruments Commodities (24h)
Karen HERRGOTT Derivative Pricing and Stochastic Calculus I & II (48h)
Collaborative Communication facilitator
Asset management Derivatives I & II (48h)
Juan IMBET Investment fund management, Alternative Ethics, Professional Standards, & Global Compliance (24h)
Assistant Professor, Université Paris Dauphine - PSL
investments (hedge funds, commodity Financial Econometrics I & II (48h)
Aymeric KALIFE investments, private equity), Technical analysis, Financial Markets & the Economy (21h)
Head of Unit-Linked Guaranteed Products, AXA Group,
Adjunct professor - Université Paris Dauphine - PSL Buy-side financial analysis Fixed Income I & II (48h)
International Finance (24h)
Thierry KUAGBENU
Head of Invetsment Solutions, Aviva Investors France Middle office and front office support services Investment & Financial Markets (36h)
Quantitative finance, Data Scientist, Pricing of Machine Learning in Finance (24h)
Alexandre LEDUC
Legal Counsel Société Générale financial assets and derivatives, Development of Programming for Applied Finance:
FACULTY Gaëlle LE FOL
financial business software, Risk management, VBA (I) and Python (II) (48h)
Professor of Finance, Head of the Master 203, Université Financial modelling for algorithmic trading Risk Management (60h)
Paris Dauphine - PSL Soft Skills (18h)
Hafid AGOUZOUL
Head of the model validation and risk methodologies Guillaume LEENHARDT Financing
team, National Bank of Abu Dhabi CEO, Gentle Finance Origination, Syndication, IPOs, Structured
Kenza AKALLAL
Sustainable Investing, Vice President, BlackRock
Arnaud LEVRY-RUEFF
Managing Partner, ExotikEquation
finance, Trade finance ELECTIVE COURSES
Clémence ALASSEUR Johan MABILLE Financial intermediation Advanced Asset Management (24h)
Head of R&D Team - Energy and Financial Markets, Risks Co-Founder, QuantStack
and Valuation at EDF Brokerage, Sell-side financial analysis Alternative Finance (21h)
Alberto MANCONI Behavioral Finance (21h)
Kaiza AMOUH Assistant Professor of Finance, Bocconi University, Milan
Vice President - Head of Flow Rates, Inflation and Credit Insurance C++ Programming (21h)
IT Natixis - CIB Guillaume MONARCHA Risk analysis and management, Asset Computational Finance (21h)
Head of Quantitative Research, Orion Financial Partners management
Guillaume ANDRIEUX Cross-Cutting Project (4 month)
Principal Quantitative Researcher, Man AHL, London Philippe NARDONE Economics and Geopolitics of Energy (21h)
Compliance Officer, Group Compliance Department, Consulting
Fabian ASTIC
Managing Director - Global head - Model Group, Credit
Crédit Agricole S.A 4 5 Consulting in risk management, Consulting in
Electronic Markets (21h)
Exotic Options & Structured Products (18h)
Policy, Moody’s Investor Service, New York Evgenia PASSARI corporate and investment banking, Development Mergers & Acquisitions (18h)
Assistant Professor in Financial Economics, Université
Thierry BECHU Paris Dauphine - PSL of information systems Regulation and Financial markets (21h)
CIO, Aequam Capital
Brice PÉRIN Sustainable Finance (21h)
Anne BELMONT Co-Head Multi-Assets and Absolute Return, La Banque Volatility Trading Strategies (21h)
Compliance Officer - Financial Security - International Postale Asset Management
Sanctions, Crédit Agricole SA
Jiang PU
Sylvain BENOIT Lecturer and Researcher, ESILV
Assistant Professor in Economics, Université Paris
Dauphine - PSL Nicolas RAYMOND
Compliance Officer, Group Compliance, Crédit Agricole
Paul BESSON Graduate destination,
36% 55%
Group
Head of the Quantitative research, Euronext
Marc RINGEISEN May 2021
Xavier BOCHER Deputy Director of the Centre Opérationnel Production All former students, Sales & Trading Sales & Trading
Head of Operational Research Group, Crédit Agrictole Marchés, EDF
since 1981
14% 17%
SA
Fabrice RIVA
Schlomy BOTBOL Professor, Université Paris Dauphine - PSL
Quantitative analyst, Comgest Asset Management Structuring
Vincent TENA
Nathalie Yaël COHEN
Leadership Coach, Tel Aviv, Israël
Assistant Professor, Université Paris Dauphine - PSL

Nadia TORTEL-UBAYSI
8% 13%
Laurent DAHAN Global Head of Talent, Candriam Structuring Data Sciences & Quantitative Analysis
Head of Markets risk, Crédit Agricole CIB

Alain DURRÉ
Olivier TOUTAIN
Executive Director, Scope Ratings, Adjunct professor - 7% 6%
Chief Economist, Goldman Sachs France Université Paris Dauphine - PSL Risk Management Asset Management
Jean-Louis DUVERNEY-GUICHARD Thibaud VIENNE
Partner - M&A Financial Services, EY Co-Founding Partner and Lead Data Scientist,
5% 3%
Université Paris Dauphine-PSL

Clevergence
Helen ENSARGUEIX Data Sciences & Quantitative Analysis Risk Management
Consultant in Organisation and Project Management , Redouane ZAD
HSX Consulting
4% 6%
Founding Executive Director, Cristalys Graduate destination,
Marius-Cristian FRUNZA May 2021
Head of Structuring, Sagacarbon-CDC Advisory - Auditing - Consulting Other
Last 6 years of former
26%
Paul GASSIAT
Assistant Professor - Université Paris Dauphine - PSL students
Other
 Thibault GODBILLON TARGETED JOBS CORE COURSES
Policy Expert, Supervisory Review, Recovery and
Resolution, EBA
Front office Applied Time Series (24h)
Benoit GUILLEMINOT Trading, Sales and Structuring of financial Careers Oriented Courses (48h)
Director of Research and Innovation, Riskelia
instruments Commodities (24h)
Karen HERRGOTT Derivative Pricing and Stochastic Calculus I & II (48h)
Collaborative Communication facilitator
Asset management Derivatives I & II (48h)
Juan IMBET Investment fund management, Alternative Ethics, Professional Standards, & Global Compliance (24h)
Assistant Professor, Université Paris Dauphine - PSL
investments (hedge funds, commodity Financial Econometrics I & II (48h)
Aymeric KALIFE investments, private equity), Technical analysis, Financial Markets & the Economy (21h)
Head of Unit-Linked Guaranteed Products, AXA Group,
Adjunct professor - Université Paris Dauphine - PSL Buy-side financial analysis Fixed Income I & II (48h)
International Finance (24h)
Thierry KUAGBENU
Head of Invetsment Solutions, Aviva Investors France Middle office and front office support services Investment & Financial Markets (36h)
Quantitative finance, Data Scientist, Pricing of Machine Learning in Finance (24h)
Alexandre LEDUC
Legal Counsel Société Générale financial assets and derivatives, Development of Programming for Applied Finance:
FACULTY Gaëlle LE FOL
financial business software, Risk management, VBA (I) and Python (II) (48h)
Professor of Finance, Head of the Master 203, Université Financial modelling for algorithmic trading Risk Management (60h)
Paris Dauphine - PSL Soft Skills (18h)
Hafid AGOUZOUL
Head of the model validation and risk methodologies Guillaume LEENHARDT Financing
team, National Bank of Abu Dhabi CEO, Gentle Finance Origination, Syndication, IPOs, Structured
Kenza AKALLAL
Sustainable Investing, Vice President, BlackRock
Arnaud LEVRY-RUEFF
Managing Partner, ExotikEquation
finance, Trade finance ELECTIVE COURSES
Clémence ALASSEUR Johan MABILLE Financial intermediation Advanced Asset Management (24h)
Head of R&D Team - Energy and Financial Markets, Risks Co-Founder, QuantStack
and Valuation at EDF Brokerage, Sell-side financial analysis Alternative Finance (21h)
Alberto MANCONI Behavioral Finance (21h)
Kaiza AMOUH Assistant Professor of Finance, Bocconi University, Milan
Vice President - Head of Flow Rates, Inflation and Credit Insurance C++ Programming (21h)
IT Natixis - CIB Guillaume MONARCHA Risk analysis and management, Asset Computational Finance (21h)
Head of Quantitative Research, Orion Financial Partners management
Guillaume ANDRIEUX Cross-Cutting Project (4 month)
Principal Quantitative Researcher, Man AHL, London Philippe NARDONE Economics and Geopolitics of Energy (21h)
Compliance Officer, Group Compliance Department, Consulting
Fabian ASTIC
Managing Director - Global head - Model Group, Credit
Crédit Agricole S.A 4 5 Consulting in risk management, Consulting in
Electronic Markets (21h)
Exotic Options & Structured Products (18h)
Policy, Moody’s Investor Service, New York Evgenia PASSARI corporate and investment banking, Development Mergers & Acquisitions (18h)
Assistant Professor in Financial Economics, Université
Thierry BECHU Paris Dauphine - PSL of information systems Regulation and Financial markets (21h)
CIO, Aequam Capital
Brice PÉRIN Sustainable Finance (21h)
Anne BELMONT Co-Head Multi-Assets and Absolute Return, La Banque Volatility Trading Strategies (21h)
Compliance Officer - Financial Security - International Postale Asset Management
Sanctions, Crédit Agricole SA
Jiang PU
Sylvain BENOIT Lecturer and Researcher, ESILV
Assistant Professor in Economics, Université Paris
Dauphine - PSL Nicolas RAYMOND
Compliance Officer, Group Compliance, Crédit Agricole
Paul BESSON Graduate destination,
36% 55%
Group
Head of the Quantitative research, Euronext
Marc RINGEISEN May 2021
Xavier BOCHER Deputy Director of the Centre Opérationnel Production All former students, Sales & Trading Sales & Trading
Head of Operational Research Group, Crédit Agrictole Marchés, EDF
since 1981
14% 17%
SA
Fabrice RIVA
Schlomy BOTBOL Professor, Université Paris Dauphine - PSL
Quantitative analyst, Comgest Asset Management Structuring
Vincent TENA
Nathalie Yaël COHEN
Leadership Coach, Tel Aviv, Israël
Assistant Professor, Université Paris Dauphine - PSL

Nadia TORTEL-UBAYSI
8% 13%
Laurent DAHAN Global Head of Talent, Candriam Structuring Data Sciences & Quantitative Analysis
Head of Markets risk, Crédit Agricole CIB

Alain DURRÉ
Olivier TOUTAIN
Executive Director, Scope Ratings, Adjunct professor - 7% 6%
Chief Economist, Goldman Sachs France Université Paris Dauphine - PSL Risk Management Asset Management
Jean-Louis DUVERNEY-GUICHARD Thibaud VIENNE
Partner - M&A Financial Services, EY Co-Founding Partner and Lead Data Scientist,
5% 3%
Université Paris Dauphine-PSL

Clevergence
Helen ENSARGUEIX Data Sciences & Quantitative Analysis Risk Management
Consultant in Organisation and Project Management , Redouane ZAD
HSX Consulting
4% 6%
Founding Executive Director, Cristalys Graduate destination,
Marius-Cristian FRUNZA May 2021
Head of Structuring, Sagacarbon-CDC Advisory - Auditing - Consulting Other
Last 6 years of former
26%
Paul GASSIAT
Assistant Professor - Université Paris Dauphine - PSL students
Other
 DIRECTOR
Gaëlle LE FOL
Professor at Université Paris Dauphine-PSL

ADMINISTRATION
Pauline de Saint-Quentin
master203@dauphine.psl.eu
Tel : +33 (0)1.41.16.76.19

UNIVERSITÉ PARIS DAUPHINE-PSL

Place du Maréchal de Lattre de Tassigny
75775 Paris cedex 16
dauphine.psl.eu