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Session dates: 4, 5, 6, 7 & 8 November
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OVERVIEW
COURSE SYLLABUS
COURSE DETAILS
TEST YOUR KNOWLEDGE

The ICMA Operations Certificate Programme (OCP) is regarded as an essential qualification for professionals intending to develop their knowledge of financial market operations.

The syllabus has been specifically designed to convey the information necessary for candidates to develop their understanding of operations relating to A) equity and debt securities, and to B) OTC derivatives. This includes detailed training on subjects such as (for securities) the trade lifecycle, repos, securities lending & borrowing, corporate actions, and (for OTC derivatives) collateral management, centrally cleared and non-centrally cleared trades under EMIR.


Learning Outcomes

By completing the course, you will be able to:

  • Develop a broader knowledge of financial market operations which may be outside the scope of your current job
  • Understand at a deeper level the fundamental nature of key financial products
  • Be fully aware of the processing steps necessary to maintain control and to mitigate internal and external processing risks
  • Understand mandatory external regulation as it relates to the central clearing of OTC derivatives
  • Be part of a network of securities operations professionals around the world


Who should attend?

The course is primarily intended for candidates working in operations and back office roles within a bank or fund management company, although it has become increasingly popular with those working in the middle office, collateral management and compliance areas. Other candidate profiles include those working for financial IT service companies, exchanges, data vendors and central securities depositories.

Candidates attending the OCP are typically (but not exclusively) in the following job functions; securities settlement, corporate actions, derivative operations, collateral management, middle office, reconciliation, static data, risk, compliance, accounting and IT.

Assessment

The exam consists of 75 multiple choice questions of which candidates must answer a minimum of 45 questions, or 60%, correctly in order to pass. You will have six months in which to study the material, book and complete an online, fully invigilated exam.

We use a third-party exam invigilation service called ProctorU to administer the exams on our assessed courses. We recommend you take a few minutes to watch this video before you take your exam, which provides information on what to expect on the day. You can also take a look at some further information here.

More information regarding your specific exam will be attached to your joining instructions and on Canvas, the ICMA training platform.


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 50 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 Completion will be awarded to those who successfully pass the final exam of this course – see Assessment section for more details.

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 education@icmagroup.org.


Course Trainers

  • Terminology Usage
    Definition of ‘Securities’
    Dates Associated with Trades
    Definition and Types of ‘Position’
    Central Securities Depositories versus Custodians
    Settlement Instructions versus Standing Sett Instructions
  •  The Securities Trade Lifecycle
    Overview
    Orders
    Trade Execution
    Trade Capture: Front Office and Operations
    Trade Enrichment and Trade Agreement
    Settlement Instructions and Settlement Instruction Statuses
    Failed Settlement
    Trade Settlement
    Updating Books & Records
  • Securities Bookkeeping
    Double Entry Bookkeeping
    When Entries Must Be Passed: Trades and Settlements
    Application in Different Transaction Types

  • Reconciliation
    Types of Reconciliation
    Urgency and Frequency of Reconciliation
    Performing and Methods of Reconciliation
    Resolving Discrepancies
  • Securities Financing
    Repo
           Introduction
           Cash-Based Repo: Introduction
           Classic Bilateral Repo: Main Features, Regulation and Documentation
           The Repo Trade Lifecycle and Repo Trade Lifecycle Simulation
           Other Repo Structures
                 Buy/Sell Backs
                 Tri-Party Repo
    Securities Lending & Borrowing
           Why Securities are Lent and Borrowed
           Characteristics of an SL&B Trade      
           SL&B Market Participants
           Routes to Market
           Documentation
           Securities-Based Repo
           Securities Lending & Borrowing vs Repo
  • Corporate Actions
    Definition of Corporate Actions
    Fundamental Concepts
    Corporate Action Lifecycles: Overview
    Event Type Characteristics & Impacts
    The Generic (Mandatory Event) Lifecycle: Overview
  • Derivative Fundamentals
    Definition & Purpose
    The Derivatives Marketplace
    Basic Derivative Types
    Investment Appeal of Derivatives
    Structural Aspects of OTC Derivatives
    Legal Documentation
    Overview of ISDA Master, Schedule, Credit Support Annex
  •  OTC Derivative Products & Their Processing Characteristics
    Interest Rate Swaps
    Credit Default Swaps
  • Collateral Management for OTC Derivatives
    Collateral Concepts for OTC Derivatives
    Collateral Impact on Regulatory Capital
    OTCD Collateral Lifecycle: Overview
    Cash & Bond Collateral for OTC Derivatives
    Credit Support Annex: Detail
  • The OTC Derivative Collateral Lifecycle
    Pre-Trading: Legal Documentation and Static Data
    Trading: Trade Execution, Trade Capture and Trade Confirmation
    Throughout Lifetime of Trade
  • Regulatory Change for OTC Derivatives
    Introduction
           Overview, Background and Organisations Initiating Changes
           EMIR and Dodd-Frank
    Trading on Exchanges
    Central Clearing
    Capital Requirements
    Trade Repositories
  • Central Clearing & its Impact on Collateral Management
    Central Clearing Primary Concepts
    Central Counterparty Membership Structure
    Multiple Central Counterparty Implications
    Risk Management within Central Counterparties
    Operational Implications of Central Clearing
    Non-Centrally Cleared (Uncleared) Trades: Overview
    Legacy Trades
    Legal Documentation
    Central Counterparty Supervision
  •  Central Clearing & Collateral Transformation
    Collateral Transformation Methods
    Operational Implications of Collateral Transformation  

 

Livestreamed Course

Our livestreamed 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 OCP livestreamed sessions are delivered in 10 webinars spread over the course of four weeks. You will be given access to the course materials a week before the live sessions begin, and you will have access to those for a total of six months. During these six 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.


Livestreamed course fees

ICMA Members: EUR 3,950 + VAT (if applicable)
Non Members: EUR 4,950 + VAT (if applicable)


Classroom Course

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

The OCP classroom sessions will be delivered in Brussels over 5 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.

We are pleased to announce that on Thursday (September 28) at 12:00-13:00, Mr. John Berrigan, Directorate-General for Financial Stability, Financial Services and Capital Markets Union, European Commission will be the guest speaker at a lunch that is kindly being sponsored by Euroclear. All OCP attendees are invited to attend this event at Vlerick Business School where lunch will be provided – this is a great opportunity to network with professionals from the markets including Vlerick Business School alumni, ICMA members from Belgium and ACI members, all of whom have been invited to attend this event.

Delegates 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 six months. During these six 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

TBC


Classroom course fees*

ICMA Members: EUR 4,850 + VAT (if applicable)
Non Members: EUR 6,200 + 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 sessions.


Please note:
  • All payments must be made in Euro.


Contact

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


 

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