Financial MarketsFoundation Course (FMFC)I C M A E X E C U T I V E E D U C AT I O N

Course OverviewThe Financial Markets Foundation Course (FMFC) is a first level (introductory) qualification intended for anyone

entering into a career in the financial markets. It does not assume any prior study or work experience other than

a general knowledge of mathematics such as basic algebra and statistics. For those without that quantitative

background, pre-course reading with a further bibliography is provided to allow candidates to acquire that

knowledge directly.

The programme is intended to provide ‘breadth of knowledge’ to make it relevant to people pursuing careers in

the front office, middle office and operations areas. Although not a formal pre-requisite for any other ICMA course,

it would provide useful background study for those taking further ICMA intermediate courses, in particular the

International Fixed Income and Derivatives (IFID) Certificate programme.

The Certificate places an even emphasis on introducing and explaining the key concepts of each subject area

and then developing practical knowledge and skills of each area. This reflects the fact that it is both introductory,

requiring the introduction and explanation of key concepts, but also intended for market practitioners requiring

applied thinking.

Course TopicsThe FMFC syllabus is organised around two broad subject areas with a final exam review to consolidate

the learning:

1. Overview of Financial Markets and Participants:

Financial intermediation

Real assets, commodities and foreign exchange

Securities and markets

Securities operations management

3. Review and Exam

Review

Examination (2 hours)

2. The Main Financial Securities

Money markets

Bond markets

Credit markets

Equity markets

Financial Derivatives

“The course was extremely relevant and helped provide a beneficial overview of the functions connectedto my compliance role.”

Sarah Bennett, Compliance Officer, Morgan Stanley

The FMFC syllabus is organised around the two broad subject areas noted before,

together with case studies, exercises and a final examination review to consolidate

the learning:

1. Overview of Financial Markets and Participants: explore the nature of savings

and flow of funds in an economy, the principal participants and their motivations.

2. The Main Financial Securities: the focus here is on understanding the

principal asset classes and basic valuation models.

3. Exam Review: the final session is a 90 minute review of the first nine sessions

to prepare candidates for the exam in the afternoon. There will also be a brief

discussion on how the topics relate to current market events.

Target AudienceThe FMFC is intended to be relevant to a wide range of job functions and areas;

anyone who would benefit from an understanding of markets, participants and

products – and how they all come together.

Candidates will come from organisations involved in both the sell-side and buy-side

of the industry plus insurance, accounting, IT firms supporting the industry and the

financial press.

The course is open to ICMA members and non-members.

Course Content and Format

“Great overview of financial markets for someone from a non-banking environment.Very practical knowledge gained, I recommend it!”

Ira Focke, Life-insurance project manager, AXA Group

Gail Rolland: has ten years of fixed income experience in London and New York

in the areas of sales and trading and new product structuring. Since the mid-

1990s she has worked with ICMA Executive Education in addition to running

her own financial markets training firm and has particular expertise in advising

the insurance industry on capital market investment strategies. Gail is also the

online tutor for the IFID Certificate Programme.

Programme Director & Speakers

“With an easy to follow tutor, the course was useful in improving my comprehension on how the economyand political events affect the financial markets.”

Yvonne Kugelmeier, Organisation & Services, WestLB AG

Course Information and Registration

“The course was so relevant to my career in the capital markets. It provided me with the view of the financialmarkets and opportunities in the financial world. It was a great experience....”

Hector L. Roy, Senior Research Analyst, Thomson Reuters

FeesUK Course

The cost is GBP 1,875 for ICMA members and GBP 2,450 for non-members

with further discounts as follows:

2 to 4 candidates – 5% discount each*

5+ candidates – 10% discount each*

*Please note that discounts are applied by way of a refund to the organisation when registration

has closed and the final number of candidates from the firm has been determined.

Payment can be made by secure online credit card or by invoice. Please note that

selecting the invoice method will add GBP 50 (administration fee) to the course price.

Continental Europe Course

The cost of the FMFC in continental Europe is EUR 1,875 for ICMA and IFBL

members and EUR 2,450 for non-members.

Please note that anyone who requires accommodation during the programme

must make their own arrangements; it is a class-based but non-residential course.

Further Information and Course RegistrationTo register please use our online registration system:

www.icmacentre.ac.uk/exec_registration

For any questions about the course, please contact:

David Senior

Business Development Director

Email: david.senior@icmagroup.org

Tel: +44 (0)20 7213 0329

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International Capital Market Association(ICMA)Talacker 29PO Box CH-8022 ZurichSwitzerland

Tel: :+41 (0)44 363 4222Fax: +41 (0)44 363 7772Email: education@icmagroup.orgwww.icmagroup.org

International Capital Market Association Limited(ICMA Ltd)23 College HillLondon EC4R 2RPUK

Tel: +44 (0)20 7213 0310Fax: +44 (0)20 7213 0311Email: education@icmagroup.orgwww.icmagroup.org

ICMA CentreHenley Business SchoolUniversity of ReadingWhiteknightsReading RG6 6BA, UK

Tel: +44 (0)118 378 8239Fax: +44 (0)118 931 4741www.icmacentre.ac.uk

The ICMA Centre, University of Reading has an international reputation for providing

quality teaching programmes tailored to the capital markets industry. Established in

1991 with funding provided by the International Capital Market Association (ICMA),

the Centre is housed in a purpose-built modernist building with state-of-the-art

facilities including two dealing rooms. In 2008, ICMA enabled an expansion

to the building that now includes an additional 50 seat dealing room, 170 seat

lecture theatre as well as new seminar rooms and a dedicated research area.

ICMA Centre

The International Capital Market Association is the self-regulatory organisation

and trade association representing constituents and practitioners in the international

capital market worldwide. ICMA’s members are located in 50 countries across the

globe, including all the world’s main financial centres, and currently number some

400 firms in total. ICMA performs a crucial central role in the market by providing

and enforcing a self-regulatory code of industry-driven rules and recommendations

which regulate issuance, trading and settlement in international fixed income and

related instruments.

The International Capital Market Association

ICMA Executive EducationFor many years ICMA Exective Education has made investment in executive

education for the financial markets a priority. Its courses are administered and

overseen by the ICMA Centre at Henley Business School, University of Reading.

Five Certificate Programmes are offered:

• Financial Markets Foundation Course (FMFC)

• Securities Operations Foundation Course (SOFC)

• International Fixed Income and Derivatives (IFID) Certificate

• Operations Certificate Programme (OCP)

• Primary Market Certificate (PMC)

All are recognised as certificates of competence in the capital markets and are

successfully completed by large numbers of international participants each year.