Session dates: 19 & 20 September
10:00 - 18:00 CEST | Time Zone Converter

(please complete and return the registration form to



The Collateral Management course is designed to provide a an solid understanding in the secure and controlled processing of collateral, with a focus on the operations aspects. Based on an element-by-element walk through of  various stages of trade and collateral management processing the participants gains knowledge of and the ability to process trades such as Repo and Derivates transactions while managing the required collateral.

Learning Outcomes

By completing this course you will be able to:

  • Describe collateral & the purpose it serves
  • Identify the various transaction types requiring collateral
  • Identify the different types of collateral & their characteristics
  • Understand the main collateral operational flow
  • Learn how to derive collateral values and what impacts such values
  • Be able to look at the risks in processing collateral and the controls to mitigate
  • Appreciate the numerous collateral-related transaction types
  • Describe the causes of exposure for financial institutions
  • Describe the reasons for legal protection & associated documentation
  • Identify the components in collateral call calculation
  • Understand the rationale for making & receiving collateral calls
  • Describe the handling of collateral substitution & income payments
  • Identify the primary risks and mitigating controls throughout.

Who should attend?

The course is suitable for collateral management personnel who would benefit from understanding the ‘big-picture’, those who have had limited exposure to collateral but who require a greater understanding of the relationships between their work and collateral and those who have recently been transferred to the collateral management department.

Certification and Programme Recognition

This course is certified by ICMA and the ICMA Centre, Henley Business School, University of Reading and accredited by CPD® Certification Service.

ICMA recommends that 20 learning hours can be associated with this course, based on attended/undertaken hours of study required to successfully complete the learning outcomes.

A Certificate of Attendance will be awarded to those who meet the minimum attendance requirements for this course.

ICMA is a member of the CPD® Certification Service, an FCA-approved qualifications provider and approved by the Securities & Futures Commission of Hong Kong as provider of Continuous Professional Training (CPT).

Please note that your course certificate of attendance or completion should be sufficient to satisfy any professional development requirements – if you require further evidence, please contact us at

The course content is divided into several topic areas, which are then broken down into multiple subtopics:

  • Fundamental Collateral Concepts
    Definition and purpose of collateral
    Why the increased focus on collateral?
    Overview of the collateral life-cycle
  • Types of Collateral
    Collateral impact on regulatory capital: overview
  • Transaction Types Necessitating Collateral
    Securities lending and borrowing
    Secured cash borrowing and lending
    OTC derivatives
    Cash borrowing at CSDs and custodians
    Tri-party collateral services
  • Legal Protection
    Necessity of legal protection
    Master agreements
    Credit support annexes
    ECB valuation haircuts
  • Static Data
    Concepts of static data
    Concepts of STP
    Static data and STP in collateral management
  • The Collateral Life-cycle
    Throughout lifetime of trade
           Trade reconciliation
           Collateral call calculation
           Making and receiving collateral calls
           Collateral substitution
           Income and corporate actions
    Trade termination
  • The Collateral Management Function
    Overview of responsibilities
    Centralised collateral function
    Cost centre vs. profit centre
  • Current Initiatives
    Clearing of OTC derivatives
    The regulators’ perspective
    Regulatory changes: overview
    Central clearing and collateral management

Livestreamed Course

ICMA courses are delivered via video conferencing accessed on our digital learning platform, using the most effective pedagogical approaches and incorporating interactive functions like virtual breakout rooms.

The Collateral Management livestreamed sessions are delivered in four 3.5 hour sessions over the course of two weeks. You will be given access to the course materials a week before the live sessions, and will have access to those for a total of three months from the first live session. During these three months you will have the option to keep working through the course materials at your own pace.

Livestreamed course fees

Members: EUR 2,100 (VAT not applicable)
Non-members: EUR 2,700 (VAT not applicable)


Classroom Course

Our classroom courses are delivered in-person at a confirmed location.

The Collateral Management classroom sessions will be delivered in London over 2 full days of training. Tea, coffee and light refreshments will be provided during the course but please note these courses are not catered. If you have any dietary requirements please let us know when you complete the registration form.

You will be given access to our learning management system and the course materials before the live sessions, and will have access to those for a total of three months. During these three months you will have the option to keep working through the course materials at your own pace. Please note to ensure you book and take the exam within these six months.

Location Address

110 Cannon Street

Classroom course fees*

ICMA Members: EUR 2,400 + VAT (if applicable)
Non Members: EUR 2,900 + VAT (if applicable)

*Our prices do not include travel/accommodation. Please do not book any logistics until you receive email confirmation that the course will go ahead. This will be provided 4 weeks in advance of the start date.


For security reasons, delegates who have not registered in advance will not be admitted to the live sessions.

Please note:

  • All payments must be made in Euro.



Should you have any queries, please contact

Test your knowledge

Please complete the fields below to get your quiz results

*mandatory fields

Mailing List*

Terms and conditions*

I agree that ICMA may retain the information supplied on this form on a database and use it for the purpose of administration only when applicable. 

Privacy, data and cookiesSubscribe/Update your preferences

Please tick here to agree to the terms and conditions
I agree to the above terms and conditions
Follow ICMA Education:

ICMA Zurich
T: +41 44 363 4222
Dreikönigstrasse 8
8002 Zurich

ICMA London
T: +44 20 7213 0310
110 Cannon Street
London EC4N 6EU
ICMA Paris
T: +33 1 8375 6613
25 rue du Quatre Septembre
75002 Paris

ICMA Brussels
T: +32 2 801 13 88
Avenue des Arts 56
1000 Brussels
ICMA Hong Kong
T: +852 2531 6592
Unit 3603, Tower 2
Lippo Centre
89 Queensway, Admiralty
Hong Kong (general enquiries) (education enquiries) (sustainable finance)
Copyright © 2024 International Capital Market Association.