
1Five-step lessons
The same arc for every product, plus a worked example with real numbers.
- What it is
- How it works
- Why it is used
- The key terms
- The risks to watch
OTC derivatives
OTC Learn teaches the over-the-counter derivatives behind institutional finance, one product at a time, in lessons short enough to finish on a commute.

The catalogue
Each free product page on this site carries the full lesson, a worked example with real numbers and the key terms. The question bank and the review queue live in the app.
Swaps, swaptions, FRAs, caps and floors
Forwards, options, cross-currency swaps
CDS, indices, total return swaps
Equity swaps, variance, autocallables
Commodity swaps, options, spreads
Collateral, clearing, documentation
Barriers, digitals, accumulators and target redemption forwards
DV01, delta and gamma, vega, CS01, P&L attribution and value at risk
Twelve failures, from Barings and Orange County to the gilt LDI crisis and Archegos
Perpetual swaps and basis, freight, power, catastrophe bonds and longevity swaps
How it teaches

The same arc for every product, plus a worked example with real numbers.

Quizzes are weighted toward the questions you have missed, with the options reshuffled. Every answer is explained, even the ones you get right.

Progress is a mastery score per product, not a tick, and it moves gradually.
The free catalogue
The thirty-six products the app shipped with are free with no account and no time limit. An optional subscription adds the asset classes released since, and anyone who installed before it existed keeps those too.


See it in under a minute
Before you install
Yes, and permanently. The thirty-six products the app shipped with — six asset classes, with their lessons, worked examples and question banks — are free with no account and no time limit. An optional subscription adds the asset classes released since, and anyone who installed the app before the subscription existed keeps those too.
Yes. Every lesson, worked example and question ships inside the app, so a session on a train behaves exactly like one at a desk. Nothing is fetched to read a lesson or answer a question.
No. There is no sign-up, no ads and no tracking, and progress is stored on the device. An optional account exists only so a new phone does not start you over, and it can be deleted from inside the app.
Interest rate, FX, credit, equity and commodity derivatives, plus the market foundations all five run through — collateral, clearing and documentation — and, by subscription, exotics, risk and the Greeks, case studies and alternative underlyings. Each product has a five-step lesson, a worked example with real numbers, six key terms and a bank of twelve questions.
No. It is educational content only — nothing in the app is advice, an offer to trade, or a recommendation to buy or sell any instrument.
No account needed and progress stays on your device. Follow the desk quiz on WhatsApp for a derivatives question or case study a few times a week.