FINANCIAL MARKETS FOUNDATION COURSE

The course content places an even emphasis on introducing and explaining the key concepts of each subject area to develop candidates’ practical knowledge and skill sets.

By completing the programme you will understand:

• The key players in the financial markets including issuers, investors and intermediaries

• The interaction between cash and derivative markets

• The key features of both equity and debt products

• The structure of the FX market

Financial Markets Foundation Course

internationally recognised qualifications for the

financial market

The course was extremely relevant to my career in the capital markets. It was a great experience.

Hector L. Roy Senior Research Analyst, Thomson Reuters

The course was extremely relevant and helped provide a beneficial overview of the functions connected to my compliance role.

Sarah Bennett Compliance Officer, Morgan Stanley

A great overview of the financial markets for someone from a non-banking environment. Very practical knowledge gained and highly recommend the course!

Ira Focke Life-insurance project manager, AXA Group

Course OverviewThe Financial Markets Foundation Course is an introductory qualification intended for anyone entering into a career in the financial markets.

The programme is intended to provide ‘breadth of knowledge’ to make it relevant to people pursuing careers in the front office, middle office and operations areas.

Course ContentThe course content is divided into several topic areas, which are then broken down into multiple subtopics:

1. Overview of the Financial Markets• Introductiontofinancialmarkets• Conceptofdisintermediation• Explainhowbankingandfinancialmarketsco-exist• Identifyingthekeyplayersandtheirimpactonthe

market• Insideafinancialinstitution-roleoftrading&

sales,operationsandinvestmentmanagement• Casestudy-howthechangesinregulationare

impactingthemarket

2. Debt Markets• Long-termandshort-termdebt• Discountandinterest-bearingproducts• Interest rate and credit products• Deposits-banktocustomerandinterbankmarkets• LIBOR, EURIBOR and overnight indexed rates• Introductiontocreditdebt-commercialpaper• Introductiontointerestratedebt-treasurybills• Roleofprimarydealers• Calculating proceeds• Featuresofbondmarkets• Interestrateandcreditproductsinthelong-term

market• Governmentdebtindifferentcountries• Corporate bonds• Understanding credit spreads• Valuingbonds-accruedinterest• Casestudy-newissuesinthemarket

3. Equities• Comparingequitytodebt• Keyfeaturesofequityproducts• Equitynewissuance• Roleofequityindices• ImpactofMiFIDandMiFIDII• Role of MTFs• Impactofalgorithmictrading• Equityvaluation-understandingthecashflow• CaseStudy-studyofanIPO

4. FX• StructureoftheFXmarket• Howthemarkettrades:introducingtheOTC

model,interbankandcustomerbusinessandtheroleoftradingsystems

• UnderstandingFXprices-spotrates• Readingpricesandcalculatingsimplevalues• Calculating and understanding cross rates• Introduction to FX forwards

5. Derivatives• Interactionbetweencashandderivativemarkets• Keyusesofderivatives-riskmanagementandrisk

replication• OTCandexchange-tradedderivatives• ImpactoflegislationsuchasEMIRandDodd-Frank• Review of currency forwards• Developingthemodelforinterestratesandcredit• Structureofthefuturesmarket• Theroleofafuturesexchange• Processofmargining• Options-comparisonwithforwardsandfutures

Course FormatTheFinancialMarketsFoundationCourseisavailableintwoformats:

• Classroom-based: Threedaycourseheldfourtimesa year, taking place in destinations across Europe. ThecourseconcludeswiththeFMFCexamination.

• Online:Thisoptionallowstotalflexibilityascandidates work at their own pace (subject to a threemonthexamdeadline),intheirowntimeandlocation.

BothformatsentitlecandidatestoaccesstheFMFCOnlineCampusforcoursepreparation.Candidateswhochoosetostudyviatheonlineplatformwillreceiveongoing support, including regular web based review sessionswithanexperte-tutorandtheabilitytodiscusscourse topics with fellow candidates.

Target AudienceThecourseisrelevanttoawiderangeofjobfunctionsandareas;anyonewhowouldbenefitfromanunderstandingoffinancialmarkets,participantsandproducts–andhowtheyallcometogether.

Candidateswillcomefromorganisationsinvolvedinboththesell-sideandbuy-sideoftheindustryplusinsurance,accounting,ITfirmssupportingtheindustryandthefinancialpress.

Course DirectorGailRollandhas30years’experienceinfinancialmarkets.Workinginitiallyintradingandsalesofmajorinternational banks in London and New York, Gail subsequentlystartedherownfinancialmarketstrainingandconsultancyfirm.Gailhasbroadmarketexperienceonagloballevel,butaparticularexpertiseinfixedincomeandmarketinfrastructure.Gailistheauthorof“MarketPlayers:AGuidetoInstitutionsintheFinancialMarkets”.ShehasworkedwithICMAsincethe1990sandisalsotheonlinetutorfortheFixedIncomeCertificate.

Financial Markets Foundation Course

internationally recognised qualifications for the

financial market

ICMA Executive EducationFormanyyearsICMAExecutiveEducationhasbeenregardedasthebenchmarkintrainingforboththefrontofficeandoperationsareasofbusiness.Our courses are internationally recognised and arerequiredtrainingbymanyofourmemberfirms.ICMAExecutiveEducationisuniqueinthatICMAandtheICMACentre,HenleyBusinessSchool, University of Reading work together to deliver training courses, taught by current and formerfinancialmarketspractitionerswhichblendpracticalandacademicknow-how,sothatcandidates have a thorough understanding of the topics being discussed.

FiveCertificateProgrammesareoffered:

• Financial Markets Foundation Course (FMFC)

• Securities Operations Foundation Course (SOFC)

• Fixed Income Certificate (FIC)

• Operations Certificate Programme (OCP)

• Primary Market Certificate (PMC)

Allarerecognisedascertificatesofcompetenceinthecapitalmarketsandaresuccessfullycompletedbylargenumbersofinternationalparticipantseachyear.Inadditiontoourcertificateprogrammes,wealsoofferaselectionofspecialistcoursesthroughouttheyear.Theseprogrammesare single topic subjects, covered within our intermediatecourses,butinmuchmoredepth. Thecoursesarefocussedandprovideanopportunityto network and discuss the issues affecting the financialmarketswithyourindustrypeers.

ICMAExecutiveEducationisabletoprovideanyofourpubliccoursesonanin-housebasisifrequired,ifanorganisationwishesanumberofdelegatestoattendaspecificcourse.

ICMA CentreTheICMACentre,UniversityofReadinghasaninternationalreputationforprovidingqualityteachingprogrammestailoredtothecapitalmarketsindustry.Establishedin1991withfundingprovidedbytheInternationalCapitalMarketAssociation(ICMA),theCentreishousedinapurpose-builtmodernistbuildingwithstate-of-the-artfacilitiesincludingtwodealingrooms.In2008,ICMAenabledan expansion to the building that now includes anadditional50seatdealingroom,170seatlecturetheatreaswellasnewseminarroomsandadedicated research area.

The International Capital Market AssociationTheInternationalCapitalMarketAssociationisthetrade association representing constituents and practitionersintheinternationalcapitalmarketworldwide.ICMA’smembersarelocatedinover50countries across the globe, including all the world’s mainfinancialcentres,andcurrentlynumberinexcessof470firms.ICMAperformsacrucialcentralroleinthemarketbyprovidingandenforcingaself-regulatorycodeofindustry-drivenrulesandrecommendationswhichregulateissuance,tradingandsettlementintheinternationalfixedincomeandrelatedinstruments.

Further Information And Course RegistrationForfurtherinformationandtoregisterforany ofourcourses,pleasevisit: www.icmagroup.org/education orcontactusat:education@icmagroup.org

International Capital Market Association Limited23CollegeHill,LondonEC4R2RPUnitedKingdomTel:+44(0)2072130310Fax:+44(0)2072130311Email:education@icmagroup.orgwww.icmagroup.org

ICMAandtheUniversityofReadingworktogetheras“ICMAExecutiveEducation”underanoperatingagreement.Coveringtechnicalproduct/marketsandoperations,theprofessionalqualificationsandtrainingprogrammesaredeliveredinmajorfinancialcentresaimedatmarketpractitionersinthefinancialmarkets.