Agenda

Agenda

Agenda

09:00 – 09:30

Registration and refreshments

09:00 - 09:30

09:30 – 11:00

The markets

09:30 - 10:00

  • Evolution of capital markets and securities trading
  • Differences between commercial and investment banking 
  • The role of financial markets today 
  • The trade lifecycle 
Participants in the financial markets

10:00 - 10:30

  • Buy Side and Sell Side 
  • IDBs 
  • Exchanges and the lesser regulated trading venues 
  • Supporting services 
The internal functions of financial institutions

10:30 - 11:00

  • Front, Middle and Back Office Functions
  • Trading, Research, Portfolio Management 
  • Risk Management, Pricing 
  • Clearing and Settlement 
  • Direct Market Access and Auto Execution

11:00 – 11:30

Morning break

11:00 - 11:30

11:30 – 13:00

Market oversight and regulation

11:30 - 12:00

  • The supervisory landscape 
  • Governments 
  • The Bank of International Settlement (BIS) 
  • Central Banks 
  • Types of Regulation 
  • Regulators 
Major asset classes

12:00 - 12:30

  • Equities
  • Stocks, Shares and Equity-linked Securities
  • Fixed Income 
  • Government, Municipal and Corporate Bonds 
  • Asset-Backed Securities 
  • Floaters, Convertibles, Islamic Bonds
  • Short/Medium Term Debt 
  • FX Markets 
  • Commodities
  • Derivatives
  • Futures, Options and Swaps and Credit Derivatives 
  • Structured Products 
Issues and challenges – the markets

12:30 - 13:00

  • Global – Basel I, II, III
  • The US Markets – From RegNMS to Dodd Frank
  • The European Union – From MiFID to MiFID II / MiFIR 
  • Origins and Impacts of the Credit Crunch 
  • Challenges in Asia 

13:00 – 14:00

Lunch

13:00 - 14:00

14:00 – 15:30

Market data sources

14:00 - 14:30

  • Contributed Data 
  • Exchange Data
  • Regulated Markets, Reported Data, Data Packages 
  • Lesser Regulated Trading Venues 
  • Vendor Generated Data 
  • Internal Sources, Added Value Data
Types of market data

14:30 - 15:30

  • What do we mean by Market Data? 
  • Data Packaging 
  • Fundamental Data 
  • Company and Economic Fundamentals 
  • Delivery Options 
  • Historical and Time Series Data 
  • Types and Uses 
  • Valuations Data 
  • Regulatory Drivers 
  • The Importance of Independent Valuations 
  • Credit Ratings Data 
  • The Uses of Ratings Data 
  • Ratings Scales, Ratings Agencies 
  • Indices 
  • Index Calculation Methods 
  • Index Providers, Index Licensing 
  • News and Commentary - types of news and commentary, major providers, machine readable news 
  • Messaging 
  • Reference data 
  • Instrument and Counterparty Reference Data 
  • Corporate Actions 

15:30 – 16:00

Afternoon break

15:30 - 16:00

16:00 – 17:30

Standards: essential for straight-through processing and good data quality

16:00 - 17:30

  • Standards Goals for Achieving STP 
  • The Challenges for Standards – Role of ISO 
  • Instrument and Business Entity Identifiers – CUSIPs, RIC Codes, Bloomberg FIGI, LEI etc 
  • Data Model for Instruments – ISO 20022 and the EDM Council 
  • Messaging Standards – ISO 15022 and FIX 
Issues and Trends – The Data

17:00 - 17:30

  • ECB market utility for securities reference data 
  • Impact of ‘socially responsible investing’ 

09:00 – 09:30

Refreshments

09:00 - 09:30

09:30 – 11:00

Summary of technology building blocks

09:30 - 10:00

  • Hardware
  • Operating Systems
  • Software Development, Buy or Build
  • Programming Languages
  • Connectivity and Hosting
  • Distribution Strategies and Protocols
  • Network Components
  • Wide and Local Area Networks
  • Bandwidth and Latency Considerations
  • Hosting and Co-location
  • Reliability and Stability
Summary of datafeeds

10:00 - 10:30

  • Principles of Datafeed Delivery including Data Representation
  • Primitive Data Types, Datafeed Packaging, Datafeed Protocols
  • Aggregated and Hybrid Datafeeds
  • Comparison of Vendors
  • Direct Datafeeds
  • Examples from Exchanges, MTFs and Brokers
Market data distribution systems (workstations and platforms)

10:30 - 11:00

  • Workstations, Bloomberg and Eikon
  • Refinitiv Enterprise Platform (inc TREP & RMDS)
  • Summary of non-Thomson Reuters Platforms and Messaging Systems
  • BM, Infomatica (29West), Vela (inc NYSE &Wombat), Activ Financial, Tibco

11:00 – 11:30

Morning break

11:00 - 11:30

11:30 – 13:00

Overview of financial sector specific applications

11:30 - 12:00

  • Charting & Technical Analysis
  • Risk Management
  • Traditional Trading Systems inc OMS & EMS
  • Pricing Systems
Algorithmic trading from a business perspective

12:00 - 12:15

  • The anatomy of an Algo Trading system 
  • Differentiators 
Price publishing and contributions

12:15 - 12:45

  • Publishing and Multi-vendor Contributions Systems 
  • Refinitive (Thomson Reuters) Arcontech, MDX
  • Fixing Rates
  • Regulatory Concerns Inc. The Libor and FX fixing scandals
Issues and trends – the technology

12:45 - 13:00

  • HTML5 & Web 2.0
  • Clouds, Grid and Virtual Computing
  • The Algo and HFT Debate

13:00 – 14:00

Lunch

13:00 - 14:00

14:00 – 15:30

Users and sses of market data

14:00 - 14:15

  • Human Use of Data
  • Local Applications
  • Shared Applications
  • Algorithmic-based Applications
Market data usage in consumer firms

14:15 - 14:30

  • Front Office
  • Mid office and Risk Management
  • Back Office
  • Compliance
Summary of the commercial frameworks for distribution and use of market data

14:30 - 14:45

  • Example commercial frameworks - Bloomberg, Refinitiv (Thomson Reuters)
  • Unit of Count
  • Datafeed Licensing
  • Contracts, Compliance and Audits
  • Data Usage Reporting and Inventory Management - DACS, OPEN DACS, DART, MDM, FITS, INFOmatch
The vendor landscape

14:45 - 15:15

  • Overviews of: Bloomberg, Refinitive (Thomson Reuters), ICE Data, Six Financial, Morningstar, Standard & Poor’s, Dow Jones, FactSet, IHS Markit
  • Sample Exchanges and MTFs: NYSE, LSE, DBG, BATS, Chi-X
  • Regional Niche Players
  • Specialist Players
Summary of market data job functions

15:15 - 15:30

  • Consumer Firms
  • Vendor Firms
  • Exchanges & Regulators
Providers and industry groups

15:15 - 15:30

  • General Data Providers
  • Exchanges and Trading Venues
  • Technology Providers
  • Peer Groups and Trade Associations
Issues and trends – data management and the vendor landscape

15:15 - 15:30

  • Symbology Licensing
  • Derived Data & Data Piracy
  • SLAs

15:30 – 16:00

Afternoon break

15:30 - 16:00

16:00 – 17:30

FISD and the FIA exam

16:00 - 16:30

  • FISD the organization
  • The aims and objectives of the FIA exam
  • Registration for the FIA Exam
  • Exam Locations
  • Moving and Rescheduling the Exam
  • Discounts
Exam preparation - after day one

16:30 - 17:00

  • Simple Sample Exam Questions
  • Vendor and Product Categorization Exercise
Exam preparation – after day two

17:00 - 17:30

  • Hard Sample Exam Questions
  • Flash Cards
  • Market Data Dictionary and Glossary
  • Accessing additional KSS-T training support