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ICMA’s Diploma in Securities & Derivatives is the definitive programme for the fixed income and related derivatives markets, giving a thorough grounding in the characteristics and benefits of the products through to the skills needed for their trading, investment analysis and risk management. The diploma builds on our widely recognised flagship qualification the Fixed Income Certificate (FIC).
Comprised of four parts – two foundation courses, an advanced course and a specialist-level course – and covering everything from the provision of the basic quantitative tools to the fundamentals of analysing fixed income securities, through to an in-depth analysis on the construction and management of a portfolio of fixed income assets, this is THE diploma for professionals in the secondary markets.
Diploma Outcomes
By completing this diploma you will:
- Become proficient in the basic maths of the fixed income and derivatives market.
- Develop a broad understanding of the risk and return characteristics of fixed-income securities, including sovereign bonds, investment-grade and high-yield corporate bonds, inflation-linked bonds, securitisations, and covered bonds and the relationship between cash bond and derivatives markets.
- Use and interpret market-standard measures of interest rate risk and credit spreads, as well as how to apply these measures to construct and evaluate trades that express views about the level of interest rates, the shape of the yield curve, and relative value in credit risky bonds.
- Develop an understanding of topics including inflation-linked bonds, securitisations and covered bonds, structured securities, CDS and Interest Rate Derivatives and their uses, plus techniques on rates trading and hedging.
- Develop working knowledge of current best market practice and regulatory considerations for fixed income and derivative markets and how regulatory changes and technological development are transforming fixed-income markets.
How do I get a Diploma?
The Dubai Programme: Diploma in Securities & Derivatives has been designed to deliver the technical skills needed by capital market professionals to excel in their jobs and to advance their employment opportunities.
The programme is certified by ICMA - the trade body at the heart of the debt capital markets and the standard setter for many areas of market practice including primary market issuance, secondary market trading, repo and collateral and sustainable finance.
The programme is made up of four courses which run consecutively over six months (Jan-June 2025). To achieve the diploma you will need to complete the following:
- Two foundation courses – starting with the Financial Market Foundation Qualification to learn about the different asset classes used in the financial and capital markets, participants will then take the Introduction to Bond Market Qualification to learn more about the fundamentals of bonds and the global markets
- One advanced course – next is our flagship course for secondary fixed income markets, the Fixed Income Certificate which looks at the structures, trading and risk management strategies of cash securities, interest rate derivatives and credit
- One specialist level course – finally participants will take the unassessed Introduction to Digital Assets & Securities to learn more about the future of the security markets
Pricing
To promote professional development opportunities in the region, ICMA and the UAE Financial Markets Association are excited to offer a special discounted price on this programme of EUR 7,000 per person.
Who should attend?
The diploma is designed for those working in the origination, syndication and transaction management areas of investment banks or securities houses and for those who roles include raising funds in the international capital markets.
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 course is certified by ICMA, the UAE Financial Markets Association and the ICMA Centre, Henley Business School, University of Reading and accredited by CPD® Certification Service
ICMA recommends that up to 120 learning hours can be associated with this programme to successfully complete the learning outcomes
Please ask ICMA Education for more details on the CPD details of your diploma on education@icmagroup.org.
The Diploma in Debt Capital Market can be achieved by completing one/two Foundation, one Advanced and one/two Specialist courses:
Please ask about other eligible courses by contacting education@icmagroup.org.
Foundation
- Financial Markets Foundation Qualification (FMFQ) This course is intended to provide ‘breadth of knowledge’ to make it relevant to people pursuing careers in the front office, middle office and operations areas. The syllabus content places an even emphasis on introducing and explaining the key concepts of each subject area to develop candidates’ practical knowledge and skill sets
- Introduction to Bond Market Qualification (IBMQ) This is an introductory level programme intended for anyone seeking a sound foundation in the analysis of fixed income securities. The syllabus offers an overview of fixed income market products and participants and explains the key features of fixed income securities including government bonds, corporate bonds and many more. In addition, it provides candidates with the basic quantitative tools they will need to begin analysing fixed income securities.
Advanced
- Fixed Income Certificate (FIC) This course has been an essential qualification for market professionals for almost 50 years. With its emphasis on developing practical skills for trading, investment and risk management, the training will build upon your existing knowledge of the fixed income markets to give you the skills to compete in the global marketplace
Specialist:
- Introduction to Digital Assets & Securities An introductory level programme intended for anyone seeking a foundation in digital assets. The syllabus offers an overview of digital assets (including Bitcoin and Ethereum), distributed ledger technology as well as the key underpinnings of blockchain technology. In addition, the programme offers candidates an understanding of the regulatory space as well as important cash-leg tokens such as CBDCs and stablecoin
