ICMA Securities Operations Foundation Course

Securities Operations Foundation Course (SOFC)

The EIMF is proud to present the Securities Operations Foundation Course offered by the International Capital Markets Association (ICMA).

The ICMA was established 50 years ago and is responsible for a significant contribution to the development of the international capital market by facilitating the interaction between all market participants: issuers, lead managers, dealers and investors.

The Securities Operations Foundation Course (SOFC) is an introductory level qualification intended for anyone entering a career in the securities operations area of the financial markets.

The course has been specifically designed to provide the essential information necessary for delegates to develop a thorough understanding of both the debt and equity markets and, in particular, securities operations concepts.

The course conveys numerous conceptual points, which are combined with emphasis on the practical aspects of securities operations, including day-to-day challenges.

In order to ensure focus and to test the delegates’ understanding of concepts, exercises will be introduced at numerous points during the course.

By completing the programme you will:

  • Understand the primary components of the securities trade life-cycle
  • Comprehend the similarities and differences between equities and bonds
  • Be able to demonstrate an understanding of how equities and bonds are brought to the marketplace
  • Appreciate the roles of the major securities market participants
  • Comprehend fundamentals of repo and securities lending & borrowing transactions

Who should attend

Who should study the programme?

The course is relevant to a wide range of job functions and areas; anyone who would benefit from an understanding of financial markets, participants and products – and how they all come together.

Candidates will come from organisations involved in both the sell-side and buy-side of the industry plus insurance, accounting, IT firms supporting the industry and the financial press.

The course does not assume any prior study or work experience other than a general knowledge of mathematics such as basic algebra and statistics.  For anyone without that quantitative background, pre-course reading with a further bibliography is provided to allow candidates to acquire that knowledge directly.

This course is directly relevant to people entering the world of securities operations and personnel currently working within this field who wish to gain a broader view of the subject. Although not a formal prerequisite for any other ICMA training course, the SOFC provides useful background study for those wishing to take the intermediate ICMA Operations Certificate Programme (OCP) and specialist 1-2 day operations courses.

Attendance of the course requires no prior study or work experience. Pre-course reading is provided to allow candidates to acquire essential understanding of the subject matter.

Course Content:

The SOFC course content is divided into two specific topic areas, which are then broken down into multiple subtopics:

1. Generic Operations Concepts

  • The financial services environment
  • Fundamental banking operations concepts

2. Securities Operations Concepts

  • Securities products
  • Equity and debt issuance
  • Trade and settlement concepts
  • External trading infrastructure
  • Internal trading infrastructure
  • External settlement infrastructure
  • Internal operations infrastructure
  • Trade cash value calculation
  • The securities trade life-cycle – an overview
  • Repos – an overview
  • Securities lending and borrowing – an overview

The course content is delivered over two and a half days with the SOFC exam taking place on the afternoon of day three.

The exam consists of 50 multiple choice questions which candidates have two hours to complete. In order to pass, candidates must answer a minimum of 30 questions correctly, with a score of 45 or more earning a distinction.

In order to aid understanding of the concepts delivered during the course, delegates will be sent pre-course reading material. To prepare for the exam and assist candidates with the course content, end-of-day review sessions are held at the end of the first two days and prior to the exam on day three.

DATES: 02/03/16 - 04/03/16

DURATION: 21 Hours

LOCATION: EIMF Premises, Nicosia

TIME: 09:00 - 17:30

FEES: £1,100.00

Online Registration

You can register for this course directly with the ICMA online here by following the ‘Register’ tab and choosing Cyprus as the location.


In-House Training

If you would like to discuss bringing this or another topic to your organization on an in-house basis please call us at 22274470 or email us at [email protected].