Course description
The Introduction to Securities Operations Qualification (ISOQ) is an introductory level programme intended for anyone entering a career in the securities operations area of the financial markets.
The syllabus has been specifically designed to provide the essential information necessary for candidates to develop a thorough understanding of both the debt and equity markets and, in particular, securities operations concepts.
Upcoming start dates
Suitability - Who should attend?
This qualification is directly relevant to people entering the world of securities operations and personnel currently working within this field who wish to gain a broader view of the subject.
Although not a formal prerequisite, the ISOQ provides useful background study for those wishing to study theOperations Certificate Programme (OCP)and our advanced level operations training courses.
Candidates should have basic quantitative skills but no prior study or work experience is required.
Outcome / Qualification etc.
By completing this course you will be able to:
- Identify the similarities and differences between equities and bonds
- Demonstrate an understanding of how equities and bonds are brought to the marketplace
- Identify and understand the roles of the major securities market participants
- Recognise the primary components of the securities trade life-cycle
- Demonstrate how Operations manages the securities through its various activities
- Identify fundamentals of trade management, including repo and securities lending & borrowing transactions
- Recognise and identify corporate actions
Training Course Content
An Introduction to International Securities
- Key players
- Debt and Equities
- The Primary Market: How Deals are Brought to the Market
- The Secondary Markets
The Pre-trade environment
- Pre-Trade Function
- Role of Client Onboarding
- Understanding KYC
- Master Agreements
- Static Data Collection
Trade Execution and Immediate Post-trade
- Trading Paradigms: Flow and Proprietary Trading
- Trade Execution Systems
- Trade Capture and Confirmation
- Role of Middle Office
Trade Clearing and Settlement
- Role of Custodians
- Central Securities Depositories
- Payment Systems
- Trade Cash Values
- Central and Bilateral Clearing Systems
- Updating Books & Position Reconciliation
- STP
Position Management
- Trading & Settled Positions
- Funding Positions
- Covering Shorts
- Basics of Repo and Securities Lending & Borrowing
- P/L calculation
Regulatory reporting
- Regulatory Reporting Requirements
- Role of Operations
Asset Servicing
- Managing Securities
- Corporate Actions
Course delivery details
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.
Livestreamed Course
Learning in a digital environment has a number of advantages and is growing in popularity as a medium of instruction. 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 SOFQ live sessions are delivered over the course of five 3.5 hour sessions over the course of two weeks. 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
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. You will have six months in which to study the material, book and complete an online, fully invigilated exam.
Expenses
Online course fees
- ICMA Members: EUR 1,300 (VAT not applicable)
- Non-members: EUR 1,900 (VAT not applicable)
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International Capital Market Association
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