|
Livestreamed
|
|
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.
Course 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.
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.
Please note:
You will need a normal/standard calculator for use during the course and during the exam that is capable of accepting at least 12 digits (e.g. 999,999,999.99). Bond calculators are not permitted for this 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 50 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 3,450 + VAT (if applicable)
Non Members: EUR 4,490 + VAT (if applicable)
- 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
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 OCP live sessions are delivered over the course of five weeks, with two sessions of 3.5 hours every week. You will be given access to 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.
Livestreamed course fees
ICMA Members: EUR 3,450 + VAT (if applicable)
Non Members: EUR 4,490 + VAT (if applicable)
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.
Contact
Should you have any queries, please contact education@icmagroup.org.
