Financial Markets Foundation Course (FMFC)


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Financial Markets Foundation Course

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Financial Markets Foundation Course (FMFC)

  1. 1. Financial Markets Foundation Course (FMFC) I C M A E X E C U T I V E E D U C AT I O N
  2. 2. Course Overview The Financial Markets Foundation Course (FMFC) is a first level (introductory) qualification intended for anyone entering into a career in the financial markets. It does not assume any prior study or work experience other than a general knowledge of mathematics such as basic algebra and statistics. For those without that quantitative background, pre-course reading with a further bibliography is provided to allow candidates to acquire that knowledge directly. 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. Although not a formal pre-requisite for any other ICMA course, it would provide useful background study for those taking further ICMA intermediate courses, in particular the International Fixed Income and Derivatives (IFID) Certificate programme. The Certificate places an even emphasis on introducing and explaining the key concepts of each subject area and then developing practical knowledge and skills of each area. This reflects the fact that it is both introductory, requiring the introduction and explanation of key concepts, but also intended for market practitioners requiring applied thinking. Course Topics The FMFC syllabus is organised around two broad subject areas with a final exam review to consolidate the learning: 1. Overview of Financial Markets and Participants: 2. The Main Financial Securities Financial intermediation Money markets Real assets, commodities and foreign exchange Bond markets Securities and markets Credit markets Securities operations management Equity markets Financial Derivatives 3. Review and Exam Review Examination (2 hours) “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
  3. 3. Course Content and Format The FMFC syllabus is organised around the two broad subject areas noted before, Target Audience together with case studies, exercises and a final examination review to consolidate The FMFC is intended to be relevant to a wide range of job functions and areas; the learning: anyone who would benefit from an understanding of markets, participants and 1. Overview of Financial Markets and Participants: explore the nature of savings products – and how they all come together. and flow of funds in an economy, the principal participants and their motivations. 2. The Main Financial Securities: the focus here is on understanding the principal asset classes and basic valuation models. 3. Exam Review: the final session is a 90 minute review of the first nine sessions Candidates will come from organisations involved in both the sell-side and buy-side of the industry plus insurance, accounting, IT firms supporting the industry and the financial press. The course is open to ICMA members and non-members. to prepare candidates for the exam in the afternoon. There will also be a brief discussion on how the topics relate to current market events. “Great overview of financial markets for someone from a non-banking environment. Very practical knowledge gained, I recommend it!” Ira Focke, Life-insurance project manager, AXA Group
  4. 4. Programme Director & Speakers Gail Rolland: has ten years of fixed income experience in London and New York in the areas of sales and trading and new product structuring. Since the mid1990s she has worked with ICMA Executive Education in addition to running her own financial markets training firm and has particular expertise in advising the insurance industry on capital market investment strategies. Gail is also the online tutor for the IFID Certificate Programme. “With an easy to follow tutor, the course was useful in improving my comprehension on how the economy and political events affect the financial markets.” Yvonne Kugelmeier, Organisation & Services, WestLB AG
  5. 5. Course Information and Registration Further Information and Course Registration Fees To register please use our online registration system: UK Course The cost is GBP 1,875 for ICMA members and GBP 2,450 for non-members with further discounts as follows: For any questions about the course, please contact: 2 to 4 candidates – 5% discount each* David Senior 5+ candidates – 10% discount each* Business Development Director *Please note that discounts are applied by way of a refund to the organisation when registration Email: has closed and the final number of candidates from the firm has been determined. Tel: +44 (0)20 7213 0329 Payment can be made by secure online credit card or by invoice. Please note that selecting the invoice method will add GBP 50 (administration fee) to the course price. Continental Europe Course The cost of the FMFC in continental Europe is EUR 1,875 for ICMA and IFBL members and EUR 2,450 for non-members. Please note that anyone who requires accommodation during the programme must make their own arrangements; it is a class-based but non-residential course. “The course was so relevant to my career in the capital markets. It provided me with the view of the financial markets and opportunities in the financial world. It was a great experience....” Hector L. Roy, Senior Research Analyst, Thomson Reuters
  6. 6. ICMA Executive Education For many years ICMA Exective Education has made investment in executive • Operations Certificate Programme (OCP) education for the financial markets a priority. Its courses are administered and • Primary Market Certificate (PMC) overseen by the ICMA Centre at Henley Business School, University of Reading. All are recognised as certificates of competence in the capital markets and are Five Certificate Programmes are offered: successfully completed by large numbers of international participants each year. • Financial Markets Foundation Course (FMFC) • Securities Operations Foundation Course (SOFC) • International Fixed Income and Derivatives (IFID) Certificate ICMA Centre The ICMA Centre, University of Reading has an international reputation for providing facilities including two dealing rooms. In 2008, ICMA enabled an expansion quality teaching programmes tailored to the capital markets industry. Established in to the building that now includes an additional 50 seat dealing room, 170 seat 1991 with funding provided by the International Capital Market Association (ICMA), lecture theatre as well as new seminar rooms and a dedicated research area. the Centre is housed in a purpose-built modernist building with state-of-the-art The International Capital Market Association The International Capital Market Association is the self-regulatory organisation 400 firms in total. ICMA performs a crucial central role in the market by providing and trade association representing constituents and practitioners in the international and enforcing a self-regulatory code of industry-driven rules and recommendations capital market worldwide. ICMA’s members are located in 50 countries across the which regulate issuance, trading and settlement in international fixed income and globe, including all the world’s main financial centres, and currently number some related instruments. International Capital Market Association Limited (ICMA Ltd) 23 College Hill London EC4R 2RP UK ICMA Centre Henley Business School University of Reading Whiteknights Reading RG6 6BA, UK Tel: :+41 (0)44 363 4222 Fax: +41 (0)44 363 7772 Email: Tel: +44 (0)20 7213 0310 Fax: +44 (0)20 7213 0311 Email: Tel: +44 (0)118 378 8239 Fax: +44 (0)118 931 4741 Designed & printed by The PD Group – International Capital Market Association (ICMA) Talacker 29 PO Box CH-8022 Zurich Switzerland