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ACI OPERATIONS CERTIFICATE

Sign up for
this course
(2-day programme / delegate fee 7.500 DKK  (1000 EUR))
 
DAY 1
 
Foreign Exchange
 
  • Spot, terminology
  • Forward outrights
  • FX swaps
historic rate rollovers
covered interest arbitrage
 
  • Short dates
  • NDF
  • Position keeping
  • EMU and the euro
 
Money Markets
 
  • Terminology
  • Short dates
  • Yield curves
  • Value dates
  • Interpolation
  • Basic interest calculation
  • Day/year conventions
  • Money market instruments
deposit, CD, CP, T-bill, MTN
 
  • Settlement calculations
 
Bonds
 
  • Overview
  • The issue process and secondary trading
  • Pricing concepts; clean/dirty price, accrued interest
  • Day/year conventions
  • Variations
FRN, index-linked
zero-coupon bonds
convertibles, calls, puts
index-linked bonds
 
  • Bond ratings
  • DvP
 
Repos
 
  • Classic repo
terminology
margin calls
treatment of coupon
documentation
 
  • Summary of securities lending
  • Applications
cash borrowing
covering short bond positions
central bank operations
 
FRAs
 
  • Mechanics, pricing and settlement of FRAs
  • Use by borrowers, lenders, speculators
covering a mismatched position
 
Homework
 
DAY 2
 
 
Review of previous day's homework
 
Interest rate futures
 
  • Comparison with FRA
OTC v exchange-traded
specifications
 
  • Exchange structure and margin
  • Major exchanges and contracts
 
Interest rate swaps
 
  • Basic mechanics and terminology
  • Hedging borrowing costs
  • Liability and asset swaps
  • Coupon swap, basis swap
 
Currency swaps
 
  • Overview
  • Exchange of principal at maturity
 
Options
 
  • Overview and terminology
  • Risk profile for buyer and writer
  • Straddle
  • Cap, floor, collar
 
Derivatives summary
 
  • ‘Off-balance sheet’, ‘cfd’, leverage
 
Life of a deal and the role of the back office
 
  • Trade capture and entry input, validation, settlement instructions, confirmation, netting, settlement, reconciliation
  • STP
  • Static data management
 
Settlement instructions
 
  • SSIs
 
Confirmation
 
  • Back office to back office
  • SWIFT MTs
  • Oral checks
  • Transmission
  • Timing
  • Checking
 
Settlement and clearing systems
 
  • Net, hybrid and RTGS
  • Domestic and EUR payment systems
  • Securities DvP settlement
  • SWIFT MTs, serial method / cover method
 
Nostro accounts and reconciliation
 
  • Correspondent bank, nostro, vostro/loro
  • SWIFT MTs
  • Purpose and mechanics of reconciliation
explanation of outstanding entries
 
  • Investigations
 
Cash management
 
Risk and control
 
  • Market risk
basis risk, liquidity risk
limits
marking-to-market
 
  • Credit risk
counterparty risk, replacement risk, settlement/Herstatt/delivery risk
limits, collateral, netting, DvP/PvP
 
  • Operational risk
back office risk, disaster risk, systems risk, fraud, personnel risk
disaster recovery and BCP
back-up systems
third-party payments
separation of functions
 
  • Systemic risk
  • Legal risk
 
Netting and documentation
 
  • Bilateral netting, multilateral netting
  • Obligation/settlement netting, close-out netting
  • Industry-standard documentation
  • CLS (PvP)
 
Money Laundering
 
  • Summary of the laundering process
placement, layering, integration
 
Model Code and regulation
 
  • Gifts and entertainment
  • Confidentiality
  • Professional behaviour
 
Homework and practice exams
 
 
 
A help line is available until each participant has passed the exam.
 
 
 

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Education

ACI Dealing certificate
The ACI Model Code
18-21 june 2013
ACI Dealing certificate
The ACI Model Code

Candidates are provided with the ACI's Model Code to study in advance of the course

Events

ACI World Congress 2019

We are pleased to share with you more details on the 58th ACI World Congress that will be held from 03rd to 05th October 2019 in Colombo, Sri Lanka.

03/10/2019 - 05/10/2019

Location: Colombo Hilton, 2 Sir Chittampalam A Gardiner, Mawatha, Colombo 00200, Sri Lanka

ACI UK & CISI - LIBOR Migration Panel

 

In a joint event with ACI UK, CISI will host a panel at 12:00 on Tuesday 8th October dedicated to the proposed changes to this important benchmark for financial markets.

 

08/10/2019 - 08/10/2019

Location: CISI - South Side Entrance, 3rd Floor, 20 Fenchurch Street, London, EC3M 8AF

https://www.acifma.com/events