Qualification
The ACI Dealing Certificate New Version Exam has been designed to cover the basic competence skills for the new entrants in dealing floors, and all other financial markets roles, related to foreign exchange, interest rate and commodity instruments.
Based upon the competence skills provided by the ACI Dealing Certificate New Version, future financial market professionals will be expected to prove their knowledge of, and adherence to, good market practices embedded in the FX Global Code and other relevant industry Codes.
The qualification is designed for:
- Recent entrants and junior dealers
- Middle office and operations personnel
- Compliance and risk officers
There are five core subject areas (Topics) in the ACI Dealing Certificate New Version:
- Financial Markets Environment
- Foreign Exchange
- Rates (Money and Bond Markets)
- Fixed Income, Currency and Commodity Derivatives
- Financial Markets Applications
Curriculum
- 6 Sections
- 53 Lessons
- 52 Weeks
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- TOPIC 1: FINANCIAL MARKETS ENVIRONMENT52
- 1.11.1 Introduction to Financial Markets
- 1.2Test – Financial Markets6 Questions
- 1.31.2 Financial Markets Segmentation
- 1.4Test – Financial Markets Segmentation5 Questions
- 1.51.3 Cash/Spot and Derivatives/Forward Markets
- 1.6Test – Cash/Spot and Derivatives/Forward Markets2 Questions
- 1.71.4 Regulated Markets and OTC Markets
- 1.8Test – Regulated Markets and OTC Markets12 Questions
- 1.91.5 Main Participants in Financial Markets
- 1.10Test – Participants in Financial Markets4 Questions
- 1.111.6 Phases of a Financial Markets Transaction/ Transaction Lifecycle
- 1.12Test – Transaction Lifecycle4 Questions
- 1.131.7 Segregation of Duties (SoD) in Financial Markets
- 1.14Test – SoD in Financial Markets6 Questions
- 1.151.8 Straight Through Processing (STP): Importance and Impact
- 1.16Test – Straight Through Processing (STP)6 Questions
- 1.171.9 Confirmations: Usefulness, Matching, and Automation
- 1.18Test – Confirmations6 Questions
- 1.191.10 SWIFT and Its Main Objectives
- 1.20Test – Swift7 Questions
- 1.211.11 Transaction Information Generation and Validation
- 1.22Test – Transaction Information7 Questions
- 1.231.12 Correspondent Banking, Nostro & Vostro Accounts
- 1.24Test – Correspondent Banking5 Questions
- 1.251.13 Payment Cut Off Times, Good Value & Short Dated Settlements
- 1.26Test – Payment Cut Off Times, Good Value & Short Dated Settlements6 Questions
- 1.271.14 Domestic and International Payment Systems
- 1.28Test – Domestic and International Payment Systems5 Questions
- 1.291.15 Types of Settlements in Financial Markets
- 1.30Test – Types of Settlements in Financial Markets5 Questions
- 1.311.16 Bilateral and Multilateral Netting Procedures
- 1.32Test – Bilateral and Multilateral Netting Procedures3 Questions
- 1.331.17 Booking, Processing & Reconciliation Systems
- 1.34Test – Booking, Processing & Reconciliation Systems2 Questions
- 1.351.18 Distinguish and Identify Mismatching Records and Figures
- 1.36Test – Distinguish and Identify Mismatching Records and Figures6 Questions
- 1.371.19 Controlling Incoming & Outgoing Cash & Securities Flows
- 1.38Test – Controlling Incoming & Outgoing Cash & Securities Flows6 Questions
- 1.391.20 Calculating & Agreeing Brokerage (Including Discount Verification)
- 1.40Test – Calculating & Agreeing Brokerage5 Questions
- 1.411.21 Resolving & Closing Outstanding Transaction Records
- 1.42Test – Resolving & Closing Outstanding Transaction Records6 Questions
- 1.431.22 Financial Communication Methods for Transactions
- 1.44Test – Financial Communication Methods for Transactions5 Questions
- 1.451.23 Position Keeping & Its Importance in Transaction Processing
- 1.46Test – Position Keeping & Its Importance in Transaction Processing4 Questions
- 1.471.24 FX Global Code, Global Precious Metals Code & UK Money Markets Code
- 1.48TEST – FX Global Code, Global Precious Metals Code & UK Money Markets Code6 Questions
- 1.491.25 Key Financial Market Regulations
- 1.50Test – Key Financial Market Regulations5 Questions
- 1.511.26 Transaction Reporting & Data Accuracy for Regulatory Compliance
- 1.52Test – Transaction Reporting & Data Accuracy for Regulatory Compliance5 Questions
- TOPIC 2: FOREIGN EXCHANGE16
- 2.12.1 Introduction to Foreign Exchange
- 2.2Test – Introduction to Foreign Exchange3 Questions
- 2.32.2 Responsibilities, Transaction Life Cycle Processes, and Controls for Foreign Exchange Instruments
- 2.4Test – Responsibilities, Transaction Life Cycle Processes, and Controls for Foreign Exchange Instruments5 Questions
- 2.52.3 Characteristics of Value Today (TOD) and Value Tomorrow (TOM) Outrights
- 2.6Test – Characteristics of Value Today (TOD) and Value Tomorrow (TOM) Outrights6 Questions
- 2.72.4 Historic Rate Rollovers & Early/Late Settlement in FX Transactions
- 2.8Test – Historic Rate Rollovers & Early/Late Settlement in FX Transactions8 Questions
- 2.92.5 Mechanics and Roles of Benchmark Fixings for FX Rates
- 2.10Test – Mechanics and Roles of Benchmark Fixings for FX Rates7 Questions
- 2.112.6 Deliverable vs. Non-Deliverable Currencies & Non-Deliverable Forwards (NDFs)
- 2.12Test – Deliverable vs. Non-Deliverable Currencies & Non-Deliverable Forwards6 Questions
- 2.132.7 Features and Characteristics of Precious Metals
- 2.14TEST – Features and Characteristics of Precious Metals8 Questions
- 2.152.8 Precious Metals: Operations, Delivery, and Fixings
- 2.16TEST – Precious Metals: Operations, Delivery, and Fixings10 Questions
- TOPIC 3: RATESMoney Markets & Interest Rate Capital Markets – Instruments, Lifecycle & Controls This section is fundamental for understanding how interest rates are managed and risk is taken in financial markets. For young professionals in treasury operations, a solid grasp of money market (MM) and interest rate capital market (IRCM) instruments, their lifecycle, and associated controls is crucial for ensuring efficient funding, liquidity management, and risk mitigation.14
- 3.13.1. Characteristics of Main Instruments in Money Markets and Interest Rate Capital Markets
- 3.2TEST – Characteristics of Main Instruments in Money Markets and Interest Rate Capital Markets9 Questions
- 3.33.2 Interest Rate Benchmark Indices: Definition, Calculation, Methodologies, and Usage
- 3.4TEST – Interest Rate Benchmark Indices8 Questions
- 3.53.3 Settlement Processes & Close-Out Calculations for Money Markets & Interest Rate Instruments
- 3.6TEST – Settlement Processes & Close-Out Calculations for Money Markets & Interest Rate Instruments8 Questions
- 3.73.4 Islamic Money Market Instruments: Characteristics and Settlement
- 3.8TEST – Islamic Money Market Instruments6 Questions
- 3.93.5 Short-Term Securities, Bond Instruments, and Their Lifecycle
- 3.10TEST – Short-Term Securities, Bond Instruments, and Their Lifecycle9 Questions
- 3.113.6 Repurchase Agreements (Repos)
- 3.12TEST – Repurchase Agreements (Repos)9 Questions
- 3.133.7 Securities Financing Transactions (SFTs) & Collateral Management
- 3.14TEST – Securities Financing Transactions (SFTs) & Collateral Management6 Questions
- TOPIC 4: FICC DERIVATIVESExchange-Traded vs. OTC Derivatives Derivatives are financial instruments whose value is derived from an underlying asset, rate, or index. They play a crucial role in risk management, speculation, and arbitrage across various asset classes, including Fixed Income, Currency, and Commodities (FICC). For treasury operations professionals, understanding the distinct characteristics of exchange-traded and Over-The-Counter (OTC) derivatives is fundamental due to their differing operational processes, risks, and regulatory landscapes.14
- 4.14.1 Introduction to Derivatives
- 4.2TEST – Introduction to Derivatives9 Questions
- 4.34.2 Plain Vanilla Interest Rate Derivatives
- 4.4TEST – Plain Vanilla Interest Rate Derivatives7 Questions
- 4.54.3 Money Market Futures
- 4.6TEST – Money Market Futures10 Questions
- 4.74.4 Collateral Management in Money Market Futures
- 4.8TEST – Collateral Management in Money Market Futures6 Questions
- 4.94.5 Interest Rate Options
- 4.10TEST – Interest Rate Options9 Questions
- 4.114.6 Currency Options
- 4.12TEST – Currency Options8 Questions
- 4.134.7 Mark-to-Market (MTM) Calculation for Derivatives
- 4.14TEST – Mark-to-Market (MTM) Calculation for Derivatives7 Questions
- TOPIC 5: FINANCIAL MARKETS APPLICATIONS10
- 5.1Basel Accords
- 5.2TEST – Basel Accords9 Questions
- 5.3Risk Models & Third-Party Payment Risks
- 5.4TEST – Risk Models & Third-Party Payment Risks8 Questions
- 5.55.1 Static Data Management & Operational Controls
- 5.6TEST – Static Data Management & Operational Controls8 Questions
- 5.75.2 Disaster Recovery (DR) and Business Continuity Plan (BCP) Principles
- 5.8TEST – Disaster Recovery (DR) and Business Continuity Plan (BCP) Principles9 Questions
- 5.95.3 Financial Markets Documentation: Types & Best Practices
- 5.10TEST – Financial Markets Documentation11 Questions
- Exam Preparation & Mock Tests1
Instructor
