Accredited Training

As an approved, accredited training provider by ACI Financial Markets Association (ACIFMA), we offer all ACI exam preparatory workshops.

ACI Dealing Certificate
ACI Operations Certificate
ACI Diploma
ACI FX Global Code Certificate

The ACI Dealing Certificate is designed for:

These certifications have become mandatory in many regions for wholesale foreign exchange and money market professionals.

  • Recent entrants and junior dealers in the Global and Treasury markets

  • Middle office and operations personnel

  • Compliance and risk officers

  • "Experienced forex and money market dealers" that require a refresh on the theory that will enhance their skills and allow then to keep abreast of market changes.

There are five core subject areas:

  • Financial Markets Environment

    The overall objective of this topic is for candidates to understand the functions performed by finanical markets in the economy and to explain its different segments, their scope and instruments. Candidates will be able to understand the basic concepts of efficient markets and the impact of regulation and codes in financial markets.

  • Foreign Exchange

    The overall objective of this topic is for candidates to understand and to be able to explain basic foreign exchange rate quotations, their terminology, mechanics and the principal risks associated wth FX spot and forward instruments.

  • Rates (Money and Interest Rate Markets)

    The overall objective of this topic is for candidates to understand the principles of time value of money, the function of the interest rate markets, the characteristics of money market instruments as well as interest rate capital markets instruments.

  • FICC (Fixed Income, Currency and Commodities) Derivatives

    The overall objective of this topic is for candidates to understand how derivatives work and their function in financial markets. Candidates will be able to describe the mechanics of currency derivatives and how to use them.

  • Financial Markets Application

    The overall objective of this topic is for candidates to understand the importance that risk has in defining the financial institutions business models and to understand the relevance of effective risk management framwork as a key driver for sustainability of the business.

Course curriculum

    1. How to navigate through this course

      FREE PREVIEW

    2. The ACI FMA Education Programme

      FREE PREVIEW

    3. About the ACI Dealing Certificate

      FREE PREVIEW

    4. The ACI exam structure

      FREE PREVIEW

    1. The Financial System as a whole

      FREE PREVIEW

    2. The Financial Markets Environment course materials

    3. Global Markets

    4. Cash and spot markets VS Forwards and Derivatives markets

    5. Primary VS Secondary markets

    6. The function of the financial markets

    7. The participants in the financial markets

    8. The Global Code

    9. Module 1 | Test your knowledge

    1. The Foreign Exchange Market - course materials

    2. Market Structure

      FREE PREVIEW

    3. The spot market

    4. Forex Bid/Ask worked example

    5. Quotation Conventions

    6. Cross Rates

    7. Indirect Quotes (Reciprocals)

    8. Foreign Exchange_Mid Module Assessment

    9. Position Keeping (calculating profit and loss)

    10. Forward Exchange Contracts (FEC's)

    11. Spot Hedge of an FEC

    12. Creating Forward Exchange Contracts (FEC)

    13. Foreign Exchange Swaps

    14. The use of a swap - An importer example

    15. Hedging a swap using an FX spot transaction

    16. Inside spot value date - Short-dated Forwards

    17. Inside spot value date worked examples

    18. Historical Rollover

    19. Creating Synthetic Assets and Liabiliteis

    20. Summary

    21. Module 2 | Test your knowledge

    1. Rates - Course materials

    2. Basic Interest Rate Calculations

    3. Simple Interest

    4. Compound interest

    5. Day count conventions and conversions

    6. Straightline Interpolation

    7. Interest rates yields VS discounts

    8. Term Structure of Interest Rates

    9. Rates_Mid Module Assessment

    10. Money and Capital markets definitions

    11. Treasury Bills

    12. Implied yield calculations

    13. Interbank Deposits and Loans

    14. Certificates of Deposit (CD)

    15. Worked example - Deposits

    16. Trading Interest Rate Instruments (Hold to maturity vs Trading)

    17. Repurchase Agreement (REPO) definition

    18. Mechanics and benefits of a REPO Agreement

    19. Classic Repo - Margin % and Haircuts

    20. Worked example - Classic REPO

      FREE PREVIEW

    21. Module 3 | Test your knowledge

    1. Download Workbook: FICC Derivatives

    2. The Derivatives Market

    3. Forward Forwards

    4. Forward Rate Agreement (FRA)

    5. Worked Forward Rate Agreement examples

      FREE PREVIEW

    6. The Futures Market

    7. Interest Rate Futures

    8. Interest Rate Swaps

    9. FICC Derivatives_Mid Module Assessment

    10. Introduction to Options

    11. The price of an option

    12. Option terminology

    13. Put Call Parity

    14. Option Risk Reversals

    15. Option payoff profiles

    16. Implying the price and intrinsic values of vanilla Calls or Puts

    17. The Greeks - Delta

    18. The Greeks - Gamma and Theta

    19. The Greeks - Vega

    20. Module 4 | Test your knowledge

    1. Financial Market Applications Workbook

    2. Principles of Assets and Liabilities

    3. Managing Assets and Liabilities

    4. Principles of risk

    5. Module 5 | Test your knowledge |

About this course

  • $549.00
  • 86 lessons
  • 12.5 hours of video content
  • Content available for 12 months from date of purchase

Instructor

Meet who you will learn with

Billy Viljoen

Course Director

Billy has over 20 years of experience in the financial markets. He currently acts as a consultant to some of South Africa’s major corporate clients on treasury risk management. He has held senior positions at two of South Africa’s major financial institutions both in South Africa and New York with the most recent being director and head of FX Options sales at ABSA Capital where he was responsible for the bank’s FX structuring business across South Africa. He is considered a subject matter expert in foreign exchange derivatives Billy through his years has obtained unparalleled dynamic hedging experience as a corporate client advisor and derivative structurer to clients located across Africa, Europe and the Americas.

Social proof: testimonials

“The course was very insightful with relevant examples provided during the training. The material shared was applicable in the scenarios and it made the training practical. The training pack is excellent and can be used as a reference in the future.”

Ontibile Baakile, Finance Director | BancABC

“The workshop exceeded my expectations and improved my Knowledge. I will definitely recommend it to my other colleagues.”

Candice C.H Nyamuda | BancABC

“A very informative and well run workshop. Highly recommend! ”

Karin Hendrickz | AECI

“WOW! I highly recommend to anyone who needs more understanding of financial instruments.”

Thuli Poktia | Aluwani Capital Partners

“It is a really eye opening program, and extremely important for any Financial Market Dealer. ”

Akeem Akorede | United Bank of Africa

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FAQ about the ACI Exams

ACI Dealing Certificate, the ACI Operations Certificate, the ACI Diploma and the FX Gllobal Code Certificate.

  • Do I need to be a member of the ACI to take the exam?

    No, anyone may take the exam.

  • How do I become an ACI member?

    To join, please go to https://acifma.com/joinacifma for more information.

  • Where can I take the exam?

    The exam is computerised. You can take it at any of the many testing centres around the world. If you need help finding a testing centre, please email us.

  • How much does the exam cost?


    The Dealing Certificate exam EUR 230 for ACI members and EUR 280 for Non-members

    The Diploma costs EUR 350

    The Operations Certificate EUR 230 for ACI members and EUR 280 for Non-members.

  • May I take a calculator to the exam?


    Yes you are allowed a calculator. Most 'normal' calculators are acceptable - choices range from Hewlett Packard HP12C, HP17B or HP19B, or any other hand-held calculator which is not text-programmable.

    A 'Windows' calculator is available on the computer screen while you are taking the exam.

  • I studied for the exam a long time ago - has the exam changed?

    Yes, there is a new version for all certifications as at November 2020, the previous version of the ACI Dealing Certificate was retired as at 31 March 2021.

  • Will I need any books other than the training material provided by your company?

    No, the material we provide is complete, including exercises and practice exams.

  • How does the monthly payment work?

    When you choose the monthly payment option for our course, you'll have full access to all the course content as long as you continue your monthly payments.
    Here's how it works:

    Access: You'll receive access to the course materials immediately after your first payment, and you'll keep that access as long as you maintain your monthly subscription.

    Cancellation: If at any point you decide you're ready to cancel, you can easily manage your subscription via the Paystack link provided in your order confirmation email. Simply follow the link and cancel the subscription there.

    Refunds: Please note that any payments already made are non-refundable. You’ll retain access until the end of your current billing cycle.

    By opting for the monthly payment plan, you can enjoy flexible access to the course without paying the full price upfront.