The ACI Dealing Certificat






CONTENTS

Foreword

The Aim of This Book

List of Abbreviations

Recognized ISO Currency Codes

1 How to Use This Book Introduction The ACI Dealing Certificate examination Prometric electronic delivery examination

2 Introduction to the International Money Markets, the Foreign Exchange Markets and Their Associated Derivative Markets

Setting the scene Foreign exchange market Market participants Foreign exchange derivatives Basic market concepts



SYLLABUS PART 1

Topic 1 · Background

Pre-Second World War Post-Second World War ACI – The Financial Markets Association


Topic 2 · Basic Interest Rate Calculations


Topic 3 · Money Market

Products Introduction The cash market LIBOR Yield curves Position keeping Negotiable financial instruments Repos


Topic 4 (part) · Money Market Derivatives

Introduction Derivation of forward/forward interest rates Financial futures Forward rate agreements Longer-term interest rate derivatives – interest rate swaps


Topic 5 · Spot Foreign Exchange

Introduction Spot date Target Currencies traded Market makers/market users Spot rate Spot rate spread Spot rate calculations Cross currency calculations Interbank dealing methods Rates information Position keeping


Topic 6 · Forward Foreign Exchange

Introduction Forward FX transactions Premium/discount Forward rate quotation terminology Forward exchange price calculations Outright forward cross currency calculations Corporate FX business Interbank forward exchange operations Other forward exchange calculations Interest arbitrage


And more


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