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Introduction to Fixed Income (IFI)
 
The Introduction to Fixed Income (IFI) course is an introductory level qualification intended for anyone seeking a sound foundation in the analysis of fixed income securities. It can serve as an essential introduction to fixed income markets in its own right, or as the basis for more advanced study on the ICMA Fixed Income Certificate (FIC) course.

The programme offers an overview of fixed income market products and participants, and explains the key features of fixed income securities and interest rate swaps. In addition, it provides candidates with the basic quantitative tools they will need to begin analysing fixed income securities.


By completing the programme you will be able to:
  • Describe the key features of fixed income securities and markets
  • Calculate and interpret accrued interest, settlement amounts, bond price and yield, basis point value (BPV) and other quantitative measures used in fixed income markets
  • Understand how monetary policy and other factors affect interest rates
  • Understand how bonds can be used to express views about interest rates
  • Understand how interest rate swaps can be used to identify relative value opportunities in fixed income markets, including opportunities that involve bonds denominated in different currencies

Who should attend?

The programme is intended for candidates who are either entering the fixed income market or who have limited experience and wish to develop a clear understanding of how the market works. Candidates should have basic quantitative skills, but no prior study or work experience is required.


Test your knowledge

Unsure if this is the right course for you? Click here to take a short sample exam.
Download brochureClick here to see the full course syllabus.

The course content is divided into several topic areas:

1. Fixed income markets

2. Interest rates


3. Money market instruments

4. Bonds


5. Bond prices and accrued interest


6. Bond price and yield


7. Monetary policy and the yield curve


8. Interest rate risk and bond trading strategies


9. Introduction to interest rate derivatives and foreign exchange (FX) risk


10. Bond issuance, regulation and trading platforms



The course content is delivered over two and a half days with the exam taking place on the afternoon of day three.

The exam consists of 50 multiple choice questions which candidates have two hours to complete. In order to pass, candidates must answer a minimum of 30 questions correctly, with a score of 45 or more earning a distinction.

To prepare for the exam and assist candidates with the course content, end-of-day review sessions are held at the end of the first two days and prior to the exam on day three.



Details of the next seminar



LondonICE Education

19-21 October 2016

  
ICE Education
5th Floor Milton Gate
60 Chiswell Street
London EC1Y 4SA
United Kingdom

Based at ICE Education London offices: IntercontinentalExchange® (NYSE: ICE), is a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets.



Cost

£1,875.00 for ICMA Members and £2,450.00 for non-members

The course fee includes all lunches, coffee breaks and training materials.

Course materials will be provided to candidates in electronic format prior to the start of programme. Please ensure that you have access to this document during the course by either printing off a copy or by downloading it on your laptop, iPad or tablet.

Payment can be made by secure online credit card or by invoice. Please note that selecting the invoice method will add £50 (administration fee) to the course price. Multiple candidates from the same company can request one invoice, reducing the overall administration fee.


Terms and conditions

Please click here to view our terms and conditions before registering.


Contact

Should you have any queries, please contact education@icmagroup.org.
 
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