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 | INVESTMENT & SECURITIES MANAGEMENT |
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| INVESTMENT SECURITIES PROFESSIONAL CERTIFICATION PROGRAM (ISCCP) jointly offered by the De La Salle-College of Saint Benilde and the Capital Market Institute of the Philippines
The ISCCP is a professional development and management program for
practitioners in the capital market. It will extensively cover all aspects of brokering,
dealership, investment, regulation and actual operations in the finance and
securities markets.
OBJECTIVES
Achieve a government and industry professional qualification to practice
security analysis, investment advisory, brokering and dealership in line with
regulatory requirements
Promote the highest levels of ethics, responsibility, integrity and
professionalism and competency in the field of capital markets and its
sustainable development
Provide continuing upgrade of skills, knowledge and competencies on best
practices of practitioners and professionals in the securities markets
Transform the practice of securities management into a dynamic career and
profession that meets the current challenges and responds to challenges
and opportunities in the business, government and industry sectors
TARGET MARKET
Salesmen of equities and fixed income securities
Investment advisors
Security analysts and capital market research professionals
Securities Market Regulators
Traders/Market Makers
Portfolio Managers
Other professionals interested in pursuing a career in the capital market
Module 1: BEST PRACTICES IN THE FINANCE AND SECURITIES MARKET
June 26 - July 24, 2010
Php 9,000 for Member / Php 9,950 Non-Member
The Overview of Financial Markets and Practice Module introduces
the participant to the overall structure and organization, process of
Financial intermediation, financial instruments, and operational
infrastructure of the securities markets. The module further en-
compasses a functional overview of how the Philippine fixed income
and equity securities market operates from a practical perspective
- Overview of Financial System and Participants
- Role of Securities Markets: Money and Capital Markets
- Financial Instruments and Services: Cash and Derivative Products
- Market Structure and Organization: Organized vs. OTC Markets, Primary
and Secondary Markets
- Banking System, Non-banks and Other Indirect Financial Intermediation
- Market Infrastructure How the Securities Market Works Role of
Practitioners in the Capital Markets
Module 2: SECURITIES MARKET LAWS AND REGULATIONS
August 14 - September 11, 2010
Php 9,000 for Member / Php 9,950 Non-Member
The Securities Markets Laws and Regulations Module provides the
participants with an in depth working appreciation of the regulatory
and legal framework, relevant rules and regulations governing the
operation of the securities markets covering the Securities Regulation Code, BIR
securities taxation regulations, PERA, Law, REIT Law, Securitization Law,
investor protection, code of ethics, and various BSP and SEC capital market
examination guidelines. The current direction of reforms in the financial
markets in response to the global financial crisis and towards best practices
and regulations of OTC and organized exchange traded products, transparency
and disclosure, mark to market valuation, regulatory capital and liquidity,
Counter party risk, financial leverage and other regulations aimed at controlling
systemic risk are likewise integrated into the course SRC overview,
Fixed income OTC rules
- SRC rules: equities
- BIR regulations
- BSP CIRC 392, 524,AMLA , RA 9160, 9194, circular 503 etc.
- Capital markets examination manual.
- SRO guidelines: suitability, best execution, ethics, investor protection.
- Global securities regulations: post crisis reform
Module 3:FINANCIAL MATHEMATICS, MARKET ANALYSIS AND ACCOUNTING STANDARDS
September 25 - OCtober 23, 2010
Php 9,000 for Member / Php 9,950 Non-Member
The Financial Mathematics and Accounting Standards module is an in depth
course on mathematical techniques in finance and investments, Fundamental
and technical analysis of the fixed income and stock market, macro-economic
and industry analysis and forecasting, valuation methodology and securities
portfolio evaluation and risk management tools. The security analyst toolkit
covered by this course will also contain new statistical models and paradigms
to evaluate market behavior including the reflexivity theory as well as inter-
market dynamics and linkages
Financial Math
- Time Value of Money (PV, FV, Annuities, Compounding, Decompounding)
- Yield and Cost : Simple, Discount, Discount to
Yield, YTM , Current Yield, Zero Yield etc) and Yield
Conversions, Interpolation Techniques
- Bond Pricing Methodology
- Duration, Convexity, Modified Duration, Convexity
Adjusted Modified Duration
- Equity Return Calculations
- Basic Risk and Return Analysis Tools : Single Asset and Portfolio
- Portfolio Evaluation
Market Analysis
- Market Place Paradigm: Fundamentals, Technical and Reflexivity Models
- Macro-economic and Industry Indicators and Interpretation
- Financial Analysis and Interpretation
- Factors Influencing Security Prices and Interest Rates
- Inter market Linkages, Dynamics and Market Behavior
- Technical Analysis and the Elliot Wave Theory
- New Reflexivity Models and the Global Financial Crisis
Accounting Standards
- IFRS: Mark to Market Valuation and Accounting for Securities
Module 4: FINANCIAL INSTRUMENTS, TRADING / MARKET MAKING & INFRASTRUCTURE
November 6 - December 4, 2010
Php 9,000 for Member / Php 9,950 Non-Member
The Financial Instruments: Trading Practices, Market Making and Infra-
structure module focuses on the management of the securities business
covering trading and market liquidity management practices, securities
settlement and clearing, asset management, product development and
management programs in OTC and organized markets and international
And local securities accounting standards for cash and derivative
instruments. An overview of the electronic trading and payments systems
and solutions to promote efficiency and risk management and related
back office processes is also an integral content of the course.
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- Overview of Product Characteristics: Yield/Price, Risk and Liquidity
- GS, Corporate Bonds and Notes, CPs, LTCNDs , Tier 2 ,
- Sovereign Bonds, USTs , ETFs
- Equities and Equity Derivatives
- Private Placements
- UITFs
- Listing, Trading and Settlement Platforms.
- Securities Depository System
Module 5: RISK MANAGEMENT
January 29 - February 26, 2011
Php 9,000 for Member / Php 9,950 Non-Member
The Risk Management module covers risk identification, risk assessment, control and best
practice risk disclosure and transparency covering operational, credit and market risks
embedded in securities products and services including related fiduciary, reputational and
legal risks. The risk-return tradeoffs and capital allocation for risk at the product and
Portfolio levels, systemic risk and Basel 2 enhancements to micro and macro prudential
regulation in the area of securities financing, repos, re-securitization exposures, counterparty
risk and aimed at improving the resiliency of the financial markets, including the new BSP
rules on risk capital adequacy and good risk governance are also integrated into the course.
- Overview of Risk Management : ERM & Integrated Risk Organization
- Risk Management Process: Identification, Measurement, Control and Reporting
- Credit Risk Assessment: Issuer, Custodial and Counterparty Risk, PSR and
Settlement Risks, Risk Ratings: Trading and Investment of Securities
- Market Risk: Volatility and Value at Risk (VAR), Greeks,
- Liquidity and Interest Rate Risk in Trading and Repo/Securities Borrowing and Lending
- Operational Risk : Personnel, IT/Systems, Process, External Events, Legal Risk in
Securities Operations
- Fiduciary and Reputational Risks
- Risk Limits Management
- Systemic Risk
- Basel 2 and the Securities Risk Management
- Role of the Chief Risk Officer and Risk Governance Board
Module 6: GOVERNANCE AND CODE OF ETHICS
March 12 - April 16, 2011
Php 9,000 for Member / Php 9,950 Non-Member
The Good Governance and Code of Ethics module integrates the responsi-
bility ofbrokers-dealer s, fund managers, trustees and other securities profe-
ssionals to theirclients and to the public including fiduciary obligations,
suitability assessment and professional code of conduct. It also includes in-depth evaluation of
issues pertaining to conflicts of interest, confidentiality and regulatory mandates for transparency
And disclosure as an aftermath of the global financial crisis. BSP and SEC circulars and
their practical relevance and for the securities practitioners and their alignment with
best global practices are likewise covered in this module.
- Ethics,
- Confidentiality,
- Integrity of Capital markets,
- Responsibilities Accountability of Broker-Dealers/Bank,
- Fiduciary responsibility,
- Conflict of Interests,
- Professionalism,
- Compliance /Supervisory System: Board and Management
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