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ACI OPERATIONS CERTIFICATE
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(2-day programme / delegate fee 7.500 DKK (1000 EUR))
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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
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
Repos
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
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
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
Cash management
Risk and control
basis risk, liquidity risk
limits
marking-to-market
counterparty risk, replacement risk, settlement/Herstatt/delivery risk
limits, collateral, netting, DvP/PvP
back office risk, disaster risk, systems risk, fraud, personnel risk
disaster recovery and BCP
back-up systems
third-party payments
separation of functions
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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ACI Dealing certificate
The ACI Model Code
Candidates are provided with the ACI's Model Code to study in advance of the course |
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ACI Australia is delighted to invite you to an evening to explore the latest developments in the FX Global Code of Conduct, its impact on the market so far and what to expect in the near future.
08/14/2019 - 08/14/2019
Location: Four Seasons Sydney, Studio Rooms: 199 George St, The Rocks NSW 2000, Austrália
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Recently, the ACI Financial Markets Association has created its Crypto Working Group (CWG) to study the impact of virtual currencies (and their variations) in the global financial markets.
20/09/2019 - 20/09/2019
Location: Rua Dom Luis de Noronha, 4 - 8th Floor, 1050-072 Lisboa - Portugal
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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
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