Programme in preparation

ACI Dealing Certificate Preparation Course

in collaboration with the House of Training Quality Cercle ACI Luxembourg

The strategy, format and contents of ACI's education and examination programs are defined by the ACI Board of Education. The ACI Dealing Certificate is a foundation program that allows candidates to acquire a working knowledge of the structure and operation of the major foreign exchange and money markets, including the ability the fundamental mathematics used in these markets and their care products (cash,forwards and derivatives) and the basic skills required for competent participation, including the ability to apply the fundamental mathematics used in these markets. Candidates should also be able to apply The Model Code to their situation. The ACI Dealing Certificate is a precursor to the ACI Diploma.

Objective

The ACI Dealing Certificate is a foundation program that allows candidates to acquire a working knowledge of the structure and operation of the major foreign exchange and money markets, including the ability to apply the fundamental mathematics used in these markets, and their core products (cash, forwards and derivatives), and the basic skills required for competent participation, including the ability to apply the fundamental mathematics used in these markets.
Candidates should also be able to apply The Model Code to their situation.

Programme

  • Basic Interest Rate Calculations
  • Cash Money Markets
  • Foreign Exchange
  • Forward, FRAs and Money Market Futures & Swaps
  • Options
  • Principles of Risk
  • The Model Code


Material: A guide to ACI Dealing Certificate (will be provided)
Syllabus (incl. details of each topic and examination procedures):
www.acilux.com

Target group

  • New entrants and junior dealers (0-18 months experience in the dealing room)
  • Middle office and operations personnel
  • Auditors and compliance officers of commercial banks and financial institutions

Knowledge assessment

The ACI Dealing Certificate examination is electronically delivered in English and German by Prometric. (http://www.register.prometric.com/Index.asp?tcl=1)

The examination lasts 2 hours and consists of 90 multiple-choice questions (10 topics baskets). The overall pass level is 60% (54 correct answers), assuming that the minimum score criteria for each of the topic baskets is met. There is a minimum score criteria of 60% for topic basket 10 The Model Code and a 50% one for each one of the other topic baskets.

Successful candidates will be granted the "ACI Dealing Certificate" and will automatically be awarded a tittle which may be put on their business cards (ACI DC).

Location and Duration

in Luxembourg: 5 days
in HoT-ATTF partner countries:  6-7 days

Detailed programme Explode

Basic Interest Rate Calculations and Money Markets

  • Introduction to Financial Instruments
  • Interest Rate Calculations
  • Accumulation Factors and Discount Factors
  • Yield Curves
  • Calculation of Forward Yields
  • Money Market
  • Money Market Paper
  • Repurchase Agreements

Foreign Exchange

  • FX Quotations
  • Cross rates and FX Forward Rates
  • FX Forwards and Ex Ante Trading
  • FX Swaps
  • O/N and T/N swaps, Forward forward swaps
  • NDFs and time options
  • Performance Measurement with FX Trading Positions
  • Covered interest arbitrage
  • Precious Metals

 

Interest Rate Derivatives and Options

  • FRAs
  • Money Market Futures
  • Interest Rate Swaps
  • Features of Options
  • The Greeks
  • Delta position and delta hedging
  • Strangles and Straddles
  • Interest Rate Options

 

Asset & Liability Management (ALM)

  • Overview of the Basel Rules
  • Asset & Liability Management
  • Capital requirements
  • Liquidity Risk
  • NSFR and LCR
  • Securitisation and Credit default Swaps
  • Interest Rate Risk
  • Gap analysis and modified duration analysis
  • Funds Transfer Pricing

 

Risk Management

  • Market Risk
  • Sensitivity indicators, Var analysis and Stress tests
  • Credit Risk
  • Risk mitigating measures: CLS, netting, collateral
  • CVA
  • Standardized Approach and Internal Ratings Based Approach
  • Operational Risk

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