Course Overview
Course Content and Format
Target Audience
Programme Faculty

Course Overview

The International Capital Market Association (ICMA) Executive Education’s OCP Certificate is an intermediate and examined qualification that places strong emphasis on developing practical skills based on a thorough understanding of the main operational processes for cash markets securities (equities, bonds and hybrid securities). It is very valuable for persons who manage operational departments and need to have a broad and in-depth understanding of the operations area as a whole.

The syllabus is built around the more advanced topics in the text (provided to all candidates in advance of the course): “Securities Operations: A Guide to Trade and Position Management” published by Wiley Finance in 2002 and written by Michael Simmons, one of the course instructors.  Particular emphasis is placed on:

• Reference/static data management
• The trade life cycle
• Settlement and fails management
• Securities lending and borrowing
• Safe custody
• Corporate actions
• Cash funding
• Reconciliations

The OCP was completely updated in 2008 and provides current and authoritative content in all its areas.

As an intermediate qualification, the OCP requires that the candidate should have familiarity with the key topics listed below (note that Background Reading is provided on these topics for those who require reading on any of the topics):

• The Securities Marketplace
• Definitions and Feature of the Main Types of Corporate Actions
• Forms and Types of Securities

The OCP is a “Recommended Exam” on the Wholesale Banking/Operations list, compiled by the FSSC (Financial Services Skills Council) in the United Kingdom.

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"The OCP covered a lot of areas I work in, so it has certainly helped me directly in my job.  It is pitched at the right level providing a good overview of the sector and yet at the same time getting down to the important detail. Tutors were easy to follow and were happy to answer questions on their own or in class. I have already recommended it to my colleagues!"

Diane Wood, Capital Markets Settlements, HSBC


"The programme has helped my career progress. I was in need of developing my Capital Market skills, especially REPO, securities settlements, clearing and custody. The debate I had with attendees from different areas of the world made me understand the business in depth. The training programme is one of the best I have attended in my career. Words can't describe the knowledge I have gained. I really thank ICMA for conducting such event."

Ahmed Al Refaei, Wholesale Operation Center, National Bank of Abu Dhabi

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Course Content and Format

The course is presented in lecture style by the teaching faculty and is interspersed with group exercises and a settlement simulation model. Time is set aside for course review and examination revision.

The course sessions are as follows:

1. Participation in the Securities Industry
2. Reference Data Management
3. The Role of the Front Office
4. The Role of the Middle Office
5. The Trade Lifecycle: Pre-Settlement
6. The Trade Lifecycle: Settlement & Fails Management
7. Securities Lending & Borrowing
8. Case Study/Summary: Settlements
9. Safe Custody
10. The Role of the Custodian
11. Group Exercise: Settlement Simulation (Double Session)
12. Corporate Actions (Double Session)
13. Cash Funding
14. Case Study/Summary: Custody & Corporate Actions
15. Regulation & Compliance
16. Reconciliation

Case studies from industry participants will be included.

Click here to download the OCP course brochure

OCP course brochure - PDF

Click here to download the detailed OCP syllabus

OCP syllabus 2010 - PDF

Target Audience

The OCP Certificate is intended primarily for two types of candidate.  Firstly, operations practitioners within their first ten years in the industry and secondly, operations managers who would benefit from a broader knowledge of the various operational functions in the industry.

Candidates will come from organisations involved in both the sell-side and buy-side of the industry plus Central Banks, Central Securities Depositories, International Central Securities Depositories, Global Custodians, Stock Exchanges and Regulators.

The training course is open to ICMA members and non-members.
 

Programme Faculty

The OCP is a professionally-taught programme using trainers with both practitioner experience and training expertise both gained over many years in the securities industry. The members of the faculty are:

• Keith Dickinson

Keith Dickinson is Programme Director for the Operations Certificate Programme (OCP) and Visiting Fellow at the ICMA Centre, The University of Reading. His career spans almost 40 years, formerly in operations management, both in securities and banking as well as fund management, and latterly the training business. His training covers a wide variety of operational topics and has delivered courses internationally.

• Myles Allison

Myles Allison is Senior Director for the Financial Industry Regulatory Authority (FINRA) in London and is responsible for EMEA in the FINRA joint venture with the ICMA Centre. His degrees are from Queen’s University in Canada and the London Business School. He has 20 years of financial services experience in Canada, the UK, France, and the Netherlands, with specialisation in regulation and compliance issues as they arise across financial services processes.

• John D. Evans CFA

John Evans is a full-time member of the academic staff of the ICMA Centre, University of Reading and is also Program Director for the Centre's MSc Investment Management. He is also Programme Director for the ICMA International Fixed Income & Derivatives Course and Financial Markets Foundation Course certificate programmes. Prior to academia, John spent twenty years in the fixed income market in Toronto, New York and London in areas of research, origination and sales & trading.

• Neil Schofield

Neil Schofield is a Visiting Fellow at the ICMA Centre and principal for FMT Limited a UK-based firm that specializes in providing training in financial markets.  He lectures on both the MSc degrees at the Centre and also with ICMA Executive Education.   Previously, he was Global Head of Financial Markets training at Barclays Capital.  He holds a BSc in Economics from Loughborough University and an MBA from Manchester Business School.  He was elected as a Fellow of the IFS School of Finance (formerly the Chartered Institute of Bankers) in 1999.  Neil is author of the book ‘Commodity Derivatives' published by Wiley in November 2007.

• Mike Simmons

Mike Simmons is an independent training consultant and has been involved with the capital markets and operations throughout his career, focusing originally upon securities settlement and more recently on the broader aspects of operations (e.g. derivatives, trade finance, payments, corporate finance and corporate lending). Mike is also the author of two books on the subject published by Wiley Finance, including the book “Securities Operations: A Guide to Trade and Position Management”, published in 2002, which all candidates are provided with for the OCP.

Details of the next seminar
(only one OCP per annum)

Venue: Dolce La Hulpe
March 21 - 27, 2010
Brussels, Belgium
Registration deadline: March 14, 2010


Course Registration

To register, please use our online registration system.

Please note that you should follow the online guidance regarding course confirmation and making payment.

Course Fees

Included in the course fee is accommodation at the Dolce la Hulpe Brussels hotel from Sunday, 21st March with departure on Saturday, 27th March. Also included are all meals, coffee breaks plus course handouts and supplies. There is a welcome reception on Sunday the 21st starting at 18:00, just before dinner.

£3,500.00 for ICMA Members and £4,550.00 for non-members

Discounts are available as follows:
2 to 4 candidates – 5% discount each*
5 to 9 candidates – 10% discount each*
10+ candidates - 15% each*

*Please note that discounts are applied by way of a refund to the organisation when registration has closed and the final number of candidates from the firm has been determined.

Contact Details

Should you require further information, please contact:
Mike Kirkman, Executive Education
Email: mike.kirkman@icmagroup.org
Tel: +44 (0)20 7517 3243

Should you have any specific questions regarding the content of the course, please contact:
Keith Dickinson, Programme Director
E-mail: k.dickinson@icmacentre.ac.uk
Tel: +44 (0)20 7193 8650

OCP certificate holders

The names of the successful candidates from previous examinations are included in our list of Certificate holders.