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The ICMA-Certified Primary Market Professional programme is a professional development pathway designed for capital markets participants involved in debt issuance, particularly in the investment-grade markets. Combining two market-recognised courses — the Primary Market Certificate (PMC) and Introduction to Securitisation — this industry-certified programme provides both deep technical expertise and a broader understanding of how primary issuance connects to wider market practices.
Who is it for?
The ICMA-Certified Primary Market Professional is tailored for those working in the primary bond markets across a variety of firms including investment banks, securities dealers/brokers, law firms, sovereign or corporate issuers, regulators, market infrastructures and more.
It’s ideal for individuals with several years of experience in roles such as DCM origination and syndication bankers, salespeople and structurers, capital markets lawyers, compliance and regulatory specialists, auditors and more — those who already understand their day-to-day responsibilities but want to:
- Deepen their technical expertise and stay current with evolving regulatory frameworks
- Understand how different functions align, from mandate to market, improving cross-team collaboration
- Enhance commercial awareness of how issuers, investors, and intermediaries interact
- Build a network of peers and practitioners across the industry
- Gain a recognised industry certification that demonstrates both competence and commitment
How does it work?
The programme is structured around two ICMA training courses:
Primary Market Certificate (PMC) – ICMA’s flagship course on the primary bond markets, covering syndication, bookbuilding, documentation, regulation, investor considerations and much more
Introduction to Securitisation - an accessible, practical overview of securitisation structures, market participants, regulation, and the evolving role of securitised products within capital markets.
Participants can take both courses back-to-back or separately within a 12-month period. Upon successful completion of both exams , candidates will receive the ICMA-Certified Primary Market Professional designation.
Format & Fees
Courses can be taken in-person, via livestream or a combination of both:
- In-person only OR in-person + livestream: ICMA Members €5,500 | Non-members €6,500 (Save 25–30% on individual course prices.)
- Livestream only: ICMA Members €4,500 | Non-members €5,500 (Save 25–30% on individual course prices.)
Assessment
The ICMA-Certified Primary Market Professional programme consists of two separate exams comprising multiple choice questions. The pass rate for these exams is 75%, with a score of 90% or more earning a distinction. You will have six months from the finish date of each course in which to book and complete an online, fully invigilated exam.
Following the successful completion of your final exam you will receive an ICMA-Certified Primary Market Professional certificate, a secure digital credential that you can share on social media which can be verified online ensuring transparency of your qualification.
More information regarding your specific exam will be available in the Exam Orientation page on Moodle, the ICMA training platform.
For more information about ICMA digital certifications, please visit https://www.icmagroup.org/executive-education/icmacertified
Programme Recognition
ICMA is an FCA-approved qualifications provider, approved by the Securities & Futures Commission of Hong Kong as provider of Continuous Professional Training (CPT) and a member of the CPD® Certification Service.
This programme is certified by ICMA and the ICMA Centre, Henley Business School, University of Reading and accredited by CPD® Certification Service.
ICMA recommends that 70-80 learning hours can be associated with this programme, based on attended/undertaken hours of study required to successfully complete the learning outcomes.
An ICMA-Certified Primary Market Professional certificate will be awarded to those who successfully pass both exams for this programme – see Assessment section for more details.
Please note that your programme 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.
i Please note that given the nature of this industry-certification, the pass rate of each exam is 75%
