The book is primarily intended for financial professionals who wish to acquire a working knowledge of the structure and operation of the foreign exchange and money markets, and their core products (including derivatives), and the basic skills required for competent participation, including the ability to apply the fundamental mathematics used in these markets. In addition the ACI (The Financial Markets Association) Model Code is discussed in depth.
The book can be used as an introduction for new entrants and junior dealers (0-18 month s experience) in the dealing room, middle office and operations personnel, auditors and compliance officers The book is especially useful for dealers, settlements specialists or anyone involved in Foreign exchange, Treasury or Capital markets operations who you are thinking about taking ACI Dealing Certificate examination. The reader is introduced to the topics of the examination syllabus, the styles of questions and marking methodology. Hints are provided in approaching the multiple choice format questions and selecting the correct answers in the examination.
TABLE OF CONTENTS
2. Setting the scene
3. Basic interest rate ad cash money markets theory and calculations
4. Forward/forwards, FRAs and money market futures and swaps
5. Foreign exchange (and precious metals)
7. Principle of Risk
8. The model code
9. Approaching the ACI dealing certificate examinations
The book is available to purchase either alone (this edition) or with a WinForex lite CD (CD edition available at Amazan with ISDN 978-90- 79304-01-1) containing libraries of multiple choice questions and other study aids for the exam. Check the ACI website for updated information and new exam requirements in 2014.
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Phil J.L. Parker ACIB, Managing Director of Lywood David International Limited, has over forty years experience of the financial markets. He spent his banking career with Lloyds Bank Group in a number of senior Treasury roles. Since forming his own company in 1992 Phil has regularly presented open courses in London and overseas financial centers and in-house training on behalf of client institutions world-wide. In recent years Phil has developed a range of training courses and distance learning products towards ACI Education qualifications.Review:
Currency markets, and those involved in them, must rise to the challenge and responsibility of ensuring that financial systems are liquid, robust, honest and transparent, and serve the needs of those who can only benefit from economic growth. This opportunity to contribute is unique, and we should be grateful that we have the chance to play our part. To do so requires a thorough understanding of how markets operate at a grass root level.
Subsequently, practitioners can engage in the production of sophisticated products, but there is no substitute for learning the underlying mathematics and dynamics of price discovery, the responsibilities of market making, and how trades are accounted for and settled.
The ACI Dealing Certificate and How to Pass it is not just for those whose ambition it is to wield a phone or keyboard in a dealing room, but also for the increasing number of risk managers, operations staff, compliance officers and auditors who have the task of ensuring a safe and profitable environment for their bank or financial institution. This book is an educational tool and there is much to learn and understand from it, and, used and coached correctly, it will enhance the health and wealth of our market as well as providing guidance for ACI Dealing Certificate candidates its main purpose. --David W. Clark, non president ACI, in foreword
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