Course Objectives

The ACI Dealing Certificate Training is a foundation program that allows candidates to acquire a working knowledge of the structure and operation of the major foreign exchange and money markets, including the ability to apply the fundamental mathematics used in these markets, and their core products (cash, forwards and derivatives).

The ACI Dealing Certificate is the 'benchmark' examination for treasury personnel and for those whose work requires an understanding of the workings of the treasury department of their organization. It is the first step towards qualifying for "ACI Diploma"

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Basic Interest Rate Calculations
To understand the principles of the time value of money. To be able to calculate short-term interest rates and yields, including forward-forward rates, and to use these interest rates and yields to calculate payments and evaluate alternative short-term funding and investment opportunities.

Cash Money Markets
To understand the function of the money market, the differences and similarities between the major types of cash money market instrument and how they satisfy the requirements of different types of borrower and lender. To know how each type of instrument is quoted, the quotation, value date, maturity and payment conventions that apply and how to perform standard calculations using quoted prices.

Foreign Exchange
To understand and be able to apply spot exchange rate quotations. To understand basic spot FX dealing terminology and the role of specialist types of intermediary. To recognize the principal risks in spot and forward FX transactions. To calculate and apply forward FX rates, and understand how forward rates are quoted. To understand the relationship between forward rates and interest rates. To be able to recognize and use quotes for precious metals, and demonstrate a basic understanding of the structure and operation of the international market in precious metals.

Forward-forwards, FRAs and Money Market Futures & Swaps
To understand the mechanics of and how to use money market interest rate derivatives to hedge interest rate risk.

Options
To understand the fundamentals of options. To recognize the principal classes and types, and understand the terminology, how they are quoted in the market, how their value changes with the price of the underlying asset and the other principal factors determining the premium, how the risk on an option is measured and how they are delta hedged. To recognize basic option strategies and understand their purpose.

Principles of Risk
To identify and distinguish between the principal types of risk in the markets, and to explain the main policies and procedures used to mitigate these risks. To understand the principles of position keeping and valuation, using spot FX as an example.

The Model Code
For candidates to have a thorough knowledge of the provisions of the Model Code and market practices, with particular emphasis on high standards of integrity, conduct and professionalism as well as the monitor and control mechanisms to be introduced to protect individuals and their institutions from undue risks and resultant losses.
 

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André holds Bcom degree from UNISA and is a CAIB (SA) with the Institute of Bankers in SA. He has represented the Association of African Institute of Bankers as a subject matter expert in Financial Markets.
Andre is a Fellow of The Institute of Financial Markets and served as a Governor on the board for 9 years. He has extensive knowledge of banking, treasury and finance products. He is currently involved in managing his own consultancy that offers financial market and finance related training throughout Africa Middle East, and Asia.

André worked in the treasury at Nedcor for 9 years, where he traded money and bond markets. While at Nedcor, he was instrumental in establishing the interest rate derivative trading desk. André worked at two major interdealer brokers as a Director responsible for Interest rate derivative broking.
André worked at ABSA as Head of their agricultural derivatives trading desk in 1994. During his time at ABSA, André sat on the executive committee of the SA futures Exchange Agricultural Markets Division.

André worked for the SA Futures Exchange for a year as Assistant General Manager responsible for interest rate product development.
André is the lead facilitator for the South African Banking Treasury Operations Forum-SABTOF for their financial product training programs.
The ACI Financial Markets Association recognizes André as a training provider for both the ACI Dealing and Operations Certificate programs and his students have achieved excellent results in these examinations.

Andre is extensively traveled and has facilitated workshops and training interventions for many of the large multinational financial institutions from introductory to advanced level in Singapore, Hong Kong, Dubai, Malaysia, China, Uganda, Malawi, Zimbabwe, Zambia, Namibia, Kenya, Nigeria, Ghana, and South Africa. He consults to a number of companies on treasury product implementation and hedging.

André authored a book titled “Introduction to Derivatives – A South African Perspective”. The book was prescribed by UNISA for 3rd year B.com students from 2002 to 2005.

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