Objectives

This course aims to provide new entrants to the operational side of the securities industry with a thorough knowledge of the life cycle of a securities transaction and an understanding of the various processes that result in a transaction being settled and the securities either going into or being taken out of custody.
 

Click here to download the SOFC course brochure.
 

Target Audience

This course is valuable for anyone entering the securities operations area or for those already working in the area in a processing and operations function.  It is relevant to securities operations in all types of financial institutions from banks to fund managers to central securities depositories.

The course is also a valuable area of study for those who aspire to a managerial role in operations and intend to study the Operations Certificate Programme (OCP) at a later time in their career.

 

Course Outline

Introduction
• Description of the essential operational concepts
• An introduction to the life cycle of a transaction
• The ways a typical securities house is structured

Reference Data Management
• The importance of accurate and secure information on securities, counterparties and clients
• The impact on operations
• Sources of reference data

Security Forms & Types of Transactions
• Operational aspects of bearer and registered securities
• The different types of transaction
• Calculation of transaction cash amounts including accrued interest on bonds

Role of the Custodian & Safe Custody
• Describe the safekeeping of securities and cash
• The regulatory requirements
• The role of the custodian

Life Cycle of a Trade - Pre Settlement
• Confirmation of transactions with counterparties
• Reporting to local regulator
• Preparing delivery/receipt/payment instructions for submission to the clearing house

Life Cycle of a Trade - Funding
• The importance of accurate & timely cash/securities forecasting
• Methods to produce a forecast
• Controlling cashflow

Life Cycle of a Trade - Settlement & Fails Management
• How settlement occurs
• The reasons behind settlement failures
• The actions that can be taken to resolve settlement failures

Settlement Simulation
The settlement simulation provides candidates with an opportunity to put into practice the “Life Cycle of a Trade” processes.

Securities Lending & Borrowing
• Motivations of lenders and borrowers
• Life Cycle of a securities loan
• The Need for Collateral

Corporate Actions
• The main types of Corporate Action
• Operational Issues & Challenges
 

Click here to download
the detailed SOFC syllabus
 

 SOFC syllabus - PDF

The SOFC certificate is a two and one half day taught course with pre-course reading. It is delivered in ten sessions with two additional 60 minute review sessions at the end of days one and two. On the afternoon of the third day, candidates sit an examination consisting of 50 multiple choice questions.
 

Accreditation
 

The ICMA Securites Operations Foundation Course is an accredited course under the Solicitors Regulation Authority (formerly The Law Society’s) CPD Scheme. Solicitors may claim 16 hours CPD credit for their attendance on the full course programme.
 

Programme Director and Speaker

Keith Dickinson
Keith is Programme Director for ICMA Executive Education's suite of Operations courses, including the Operations Certificate Programme (OCP). Following a twenty-year career at senior levels within the operations areas of the equities, fixed income and derivatives markets for securities houses and financial institutions in London, he has spent almost twenty years training all aspects of the operational business. 
 
 

Details of the next Securities Operations Foundation Course (SOFC) seminars
 

ICE Education, London, have a look at the venue.
10-12 September 2012

  

Hosted at:
ICE Education
Milton Gate, 60 Chiswell Street
London
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. ICE's diverse markets offer contracts based on crude oil and refined products, natural gas, power and emissions, agricultural commodities including canola, cocoa, coffee, cotton, orange juice and sugar, as well as credit derivatives, foreign exchange and Russell Index futures and options. 
 
 

Brussels
12-14 March 2012

  

Iskander, Singapore/Malaysia
11-13 June 2012



Venue:
Address TBC

Approved accommodation:
Thistle Johor Bahru
Jalan Sungai Chat, 80720 Johor Bahru, Johor, Malaysia
Phone: +607 222 9234
Fax: +607 222 0153

To make a reservation at the hotel, please contact them directly and quote "University of Reading" to receive your preferential rate.
 
Please remember that it is your responsibility to ensure your accommodation is organised in advance as we are regrettably unable to assist in these matters.

 

Cost

UK based Course, Continental Europe Based Course and Iskander based course
The cost of the SOFC is £1,500.00 for ICMA Members and £1,950.00 for non-members with the following discount scale being offered:
2-4 candidates – 5% discount each*
5+ candidates – 10% discount 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
 

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.

Note that anyone requiring accommodation to take the course will be required to arrange this on their own; it is a class-based but non-residential certificate programme.
 

Contact us

 
David Senior on +44 (0)20 7213 0329
E-mail education@icmagroup.org.