Online Self-Study
Start date: 1 January
Duration: 6 weeks (recommended)

 

 

OVERVIEW
COURSE SYLLABUS
COURSE DETAILS
TEST YOUR KNOWLEDGE

The Introduction to Bond Market Qualification (IBMQ) is an introductory level programme intended for anyone seeking a sound foundation in the analysis of fixed income securities. The syllabus offers an overview of fixed income market products and participants and explains the key features of fixed income securities including government bonds, corporate bonds and many more. In addition, it provides candidates with the basic quantitative tools they will need to begin analysing fixed income securities.

Course Outcomes

By completing this course you will be able to:

  • acquire a sound understanding of the risk and return characteristics of fixed-income securities, including sovereign bonds, investment-grade and high-yield corporate bonds, inflation-linked bonds, securitisations, and covered bonds
  • learn how to use and interpret market-standard measures of interest rate risk and credit spreads, as well as how to apply these measures to construct and evaluate trades that express views about the level of interest rates, the shape of the yield curve, and relative value in credit risky bonds
  • learn how inflation-linked bonds protect investors from inflation risk and provide opportunities for trading views on expected inflation, and how securitisations and covered bonds expand opportunities for investors while diversifying financing sources for financial institutions
  • learn how bonds are issued and traded, and how regulatory changes and technological development are transforming fixed-income markets


Who Should Attend?

The course is intended for anyone who requires a firm grounding in global bond markets and fixed-income analysis as part of their professional development.  It is particularly directed at candidates who are entering or have recently entered positions in fixed-income markets, or whose responsibilities require an understanding of fixed-income securities and markets.  This might include, for example, professionals whose primary responsibilities are legal, regulatory or technology-related, as well as those working directly in fixed-income trading and investment management.

The IBMQ may also serve as a useful introduction to bond markets for candidates who intend subsequently to study for the ICMA Fixed Income Certificate (FIC).

The names of successful candidates will be included in our list of certificate holders.

Online courses start on the 1st of each month – please note that payment must be received BEFORE access to these courses are provided.


Frequently Asked Questions

This course answers questions including:

What are bond (fixed income) markets?

What is the difference between the dirty price  and clean price of a bond?

What is a bond?

What is a yield curve?

Who participates in bond markets?

   


Assessment

The exam consists of 50 multiple choice questions of which candidates must answer a minimum of 30 questions correctly, with a score of 45 or more earning a distinction.

If you’re taking the classroom-based course, review sessions will be held prior to the exam to help candidates prepare for the assessment and assist with course content.

If you’re taking the online or livestreamed course you have six months in which to study the material, book and complete an online, fully invigilated exam. The exam is hosted on our online learning platform and invigilated by a live proctor via the camera and microphone on your computer. This allows you to choose a time and place of your convenience to take the exam, while guaranteeing secure exam conditions.
 
Prior to the exam, you will need to login with the proctor to check that your chosen exam equipment and space is adequate for the exam - you will receive further guidance when you register for the course.


Certification and Programme Recognition


This course has been accredited by the CPD® Certification Service and approved by the Securities & Futures Commission of Hong Kong for Continuous Professional Training (CPT).
ICMA recommends that 24 learning hours can be associated with this course, based on attended/undertaken hours of study required to successfully complete the learning outcomes.

The course is certified by ICMA and the ICMA Centre, Henley Business School, University of Reading. A Certificate of Attainment will be awarded to those who successfully pass the final exam of this course – see Assessment section for more details.

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 education@icmagroup.org.


Pricing

ICMA Members: EUR 1,150 + VAT (if applicable)
Non-members: EUR 1,650 + VAT (if applicable)



Course Trainer

David Oakes


The course syllabus is divided into the following key topic areas:

Bonds
•    Fixed Income Markets
•    Fundamental Features of Bonds
•    Bond Types and Market Sectors

Analysing Bonds
•    Bond Price Quotation and Accrued Interest
•    Calculating Accrued Interest
•    Bond Price and Yield
•    Calculating Yield to Maturity

Government Bonds and the Yield Curve
•    The Yield Curve
•    Monetary Policy and the Yield Curve
•    Interest Rate Risk
•    Trading the Yield Curve

Corporate Bonds
•    Credit Risk in Corporate Bonds
•    Credit Ratings and Credit Spreads
•    Securitisation
•    Covered Bonds

Inflation-Linked, Green, and Social and Sustainability Bonds
•    Why Investors Care About Inflation
•    Inflation-Linked Bonds
•    Green Bonds
•    Social and Sustainability Bonds

Issuing and Trading Bonds
•    Issuing Bonds in the Primary Market
•    Secondary Market Trading
•    Regulation



Online Course


Delegates who sign up to online courses will have access for 6 months to enable them to take advantage of the additional online resources, discussion boards and other functions of our new digital learning platform.

Online courses start at the beginning of each month – please note that payment must be received BEFORE access to these courses are provided.

Online course fees

Self-study online course fees:

  • ICMA Members: EUR 1,150 + VAT (if applicable)
  • Non-members: EUR 1,650 + VAT (if applicable)
Costs include full access to the online campus, associated learning materials and the examination fee.

Please note that:
  • Payment for online courses must be received before the start of the course.
  • All payments must be made in Euro.

As an indicative guide, we would recommend a total of 24 study hours is required to go through the material. Please note this is an approximate guide only.



Contact

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


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:

linkedin
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 70 17 64 72
62 rue la Boétie
75008 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
 
info@icmagroup.org (general enquiries)
education@icmagroup.org (education enquiries)
Copyright © 2022 International Capital Market Association.