Fintech in the Capital Markets
New dates TBC - e-mail education@icmagroup.org to register your interest

 

 

OVERVIEW
COURSE SYLLABUS
COURSE DETAILS

The goal of this course is to provide delegates with an accessible review of the role of technology in debt capital markets, focusing on the need for technology in the primary capital markets across several key themes including the role of technology, how it is currently being used (and how it might be used in the future) and the opportunities and challenges technology presents to this sector of the financial markets


Learning Outcomes

By completing the programme you will be able to:

  • describe the role technology plays in modern capital markets
  • explain key concepts and themes for primary market technology, including digitization of book-building, new issue automation, the impact of artificial intelligence
  • understand high-level aspects of technology development and how to engage with Fintechs
Describe the types of market participants and appreciate why these firms engage in SLB, and their impact on capital markets and retail investors
Understand the operational, legal and regulatory risks and issues involved 
Comprehend the advantages/disadvantages of using different types of collateral 
Appreciate the impact that corporate actions have on the lent security and on securities collateral
Discover some relevant anecdotes and SLB case studies


Who should attend?

The course is targeted at those who have a capital markets background and want to expand their knowledge of the technology sector with the ambition to understand the potential impact of new technologies in the financial business and key aspects of implementing innovative technical/digital solutions.
 

Certificate and Programme Recognition

ICMA is a member of the CPD® Certification Service, an FCA-approved qualifications provider and approved by the Securities & Futures Commission of Hong Kong as provider of Continuous Professional Training (CPT).

This course is certified by ICMA and the ICMA Centre, Henley Business School, University of Reading.

ICMA recommends that 20 learning hours can be associated with this course, based on attended/undertaken hours of study required to successfully complete the learning outcomes.

A Certificate of Attendance will be awarded to those who meet the minimum attendance requirements for this course.

Please note that your course certificate of attendance or completion should be sufficient to satisfy any professional development requirements – if you require further evidence, please contact us at education@icmagroup.org

 

Course Trainer

Martin Hillebrand is Professor for Quantitative Methods at XU Exponential University, Germany. His current research focuses on capital market dynamics, investor behaviour, sustainable finance and digitalisation. Prior to this, he held different quantitative positions at the European Stability Mechanism, German Finance Agency (Deutsche Finanzagentur), Sal. Oppenheim jr. & Cie. and Deutsche Bank. Martin is a Review Editor of the Journal for Artificial Intelligence in Finance.

The syllabus content is divided into several key topic areas, including:

  • The Role of Technology, Digitization, and Automation
  • Essential Tech Vocabulary
  • Data Management
  • Common Standards
  • Digital Communication
  • Digital Bookbuilding
  • The Evolving Vendor Landscape in Primary Markets
  • Investor Relations & Tech
  • Legal Technology in Primary Markets
  • Regulation & Technology
  • Fintech & Innovation – Internal, External, Hybrid Solutions
  • Carrying out a Fintech Project

 

 

Securities Lending & Borrowing (SLB) – The Fundamentals 
What is Securities Lending?
The Purpose: Why Do Lenders Lend & Borrowers Borrow?
Participants & Structure
Trading Strategies
Examples
SLB Trade Lifecycle - An Overview
Short Selling, Naked Short Selling
Locates, Trade Execution & Fails
Margin
Corporate Events
Billing
The Marketplace – Participants & Stakeholders
Lenders, Borrowers and Intermediaries 
Examples
The Lender’s Perspective: Motivations and Considerations
The Borrower’s Perspective: Motivations and Considerations
Global custodians
Third-party lending agents
Central counterparties
Anecdotes
SLB Trade Lifecycle
Pre-trading, Locates
Trade execution
Pre-settlement
Settlement 
Buy-ins
Mark to Market 
Margin calls
Recall/return of lent settlements
Fees & Billing
Assets & Collateral
Equity vs Fixed Income 
Fundamental collateral concepts
Margin: Purpose & use 
Types of collateral
Rehypothecation
Legal Documentation
GMSLA
Securities lending agency agreement
GMRA
Updating Books & Records
Securities bookkeeping: Definition & purpose
Importance of updating books & records
Updating books and records for lent/borrowed securities, cash and non-cash collateral, fees and rebates
SLB and Corporate Actions
Corporate actions: Overview 
Income
*Cash dividends
*Lent securities
*Short sale proceeds
*Lent/borrowed equity
Voting 
Withholding tax
Risks in Securities Lending & Borrowing 
Market Risk
Credit Risk
Operational Risk
Legal Risk
Reputational Risk 
Regulation
Introduction
EU short selling & financial transactions tax
CSDR 
Reporting to a central trade repository
Recent SLB Scandals & Controversies
The Lehman saga uncover

Classroom Course

Our classroom courses are delivered in-person at a confirmed location.

The Fintech in the Capital Markets classroom course will be delivered in London over 2 full days of training. Tea, coffee and light refreshments will be provided during the course but please note these courses are not catered. If you have any dietary requirements please let us know when you complete the registration form.

Delegates will be given access to our learning management system and the course materials before the live sessions, and will have access to those for a total of three months. During these three 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 three months.

Location Address

Venue TBC


Classroom course fees*

ICMA Members: EUR 2,400 + VAT (if applicable)
Non Members: EUR 2,900 + VAT (if applicable)

*Our prices do not include travel/accommodation. Please do not book any logistics until you receive email confirmation that the course will go ahead. This will be provided 4 weeks in advance of the start date


For security reasons, delegates who have not registered in advance will not be admitted to the live sessions.

 


Please note:
  • All payments must be made in Euro.


Contact

Should you have any queries, please contact education@icmagroup.org.


 

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