Agenda

Agenda

Market Data & Trading Technology 2019 - Agenda

FISD-1-The Financial Markets

This course unit aims to provide a comprehensive overview of the financial markets, the players within them and the assets they trade. Delegates will gain a clear understanding of the entire markets eco-system and the inter-relationship between the market participants.

08:3009:00

Registration and Introductions

08:30 - 09:00

Brief introduction to FISD and the FIA Exam

09:0010:00

The Global Markets

09:00 - 10:00

  • Evolution of Capital Markets and Securities Trading
    • Differences between Commercial and Investment Banking
  • The Role of Financial Markets today
  • The Trade Lifecycle
     

10:0010:45

Participants in the Financial Markets

10:00 - 10:45

  • Buy Side and Sell Side
  • IDBs
  • Exchanges and the lesser regulated Trading Venues
  • Supporting Services

10:4511:15

Morning Break

10:45 - 11:15

11:1512:15

The Internal Functions of Financial Institutions

11:15 - 12:15

  • Front, Middle and Back Office Functions
    • Trading, Research, Portfolio Management
    • Risk Management, Pricing
    • Clearing and Settlement
    • Direct Market Access and Auto Execution

12:1513:15

Lunch

12:15 - 13:15

13:1514:30

Market Oversight and Regulation

13:15 - 14:30

  • The Supervisory Landscape 
    • Governments
    • The Bank of International Settlement (BIS)
    • Central Banks
    • Types of Regulation
    • Regulators
       

14:3015:00

Afternoon Break

14:30 - 15:00

15:0016:00

Major Asset Classes

15:00 - 16:00

  • Equities
    • Stocks, Shares and Equity-linked Securities
  • Fixed Income
    • Government, Municipal and Corporate Bonds
    • Asset-Backed Securities
    • Floaters, Convertibles, Islamic Bonds
  • Short/Medium-Term Debt
  • FX Markets
  • Commodities
  • Derivatives
    • Futures, Options and Swaps, Credit Derivatives

16:0017:00

Exam Preparation – After Day 1

16:00 - 17:00

  • Simple Sample Exam Questions
  • Vendor and Product Categorization Exercise
     

17:0017:00

End of Day 1

17:00 - 17:01

Day 2 will focus on 2 course unit - FISD 2: Market Data & FISD 3: Technology Basics.

08:3009:00

Registration and refreshments

08:30 - 09:00

09:0012:30

FISD 2: Market Data - Market Data Sources

09:00 - 09:30

  • Contributed Data
  • Exchange Data
    • Regulated Markets, Reported Data, Data Packages
    • Lesser Regulated Trading Venues
  • Vendor Generated Data
    • Internal Sources, Added Value Data
       
Types of Market Data

09:30 - 10:30

  • What Do We Mean by Market Data?
    • Data Packaging
  • Fundamental Data
    • Company and Economic Fundamentals
    • Delivery Options
  • Historical and Time Series Data
    • Types and Uses
  • Valuations Data
    • Regulatory Drivers
    • The Importance of Independent Valuations
  • Credit Ratings Data
    • The Uses of Ratings Data
    • Ratings Scales, Ratings Agencies
  • Indices
    • Index Calculation Methods
    • Index Providers, Index Licensing
  • News and Commentary
    • Types of News and Commentary, Major Providers
    • Machine Readable News
  • Messaging
  • Reference Data
    • Instrument and Counterparty Reference Data
    • Corporate Actions
       
Standards: Essential for Straight-Through Processing and good Data Quality

10:30 - 11:30

  • Standards Goals for Achieving STP
  • The Challenges for Standards
    • Role of ISO
  • Instrument and Business Entity Identifiers
    • CUSIPs, RIC Codes, Bloomberg FIGI, LEI etc
  • Data Model for Instruments
    • ISO 20022 and the EDM Council
  • Messaging Standards
    • ISO 15022 and FIX
       

12:3013:30

Lunch

12:15 - 13:15

13:3016:30

FISD 3: Technology Basics - Summary of Technology Building Blocks

13:30 - 14:00

  • Hardware
  • Operating Systems
  • Software Development, Buy or Build
    • Programming Languages
  • Connectivity and Hosting
    • Distribution Strategies and Protocols
    • Network Components
    • Wide and Local Area Networks
    • Bandwidth and Latency Considerations
    • Hosting and Co-location
    • Reliability and Stability
       
Summary of Datafeeds

14:00 - 14:30

  • Principles of Datafeed Delivery including Data Representation
    • Primitive Data Types, Datafeed Packaging, Datafeed Protocols
  • Aggregated and Hybrid Datafeeds
    • Comparison of Vendors
  • Direct Datafeeds
    • Examples from Exchanges, MTFs and Brokers
       
Market Data Distribution Systems (Workstations and Platforms)

14:30 - 15:00

  • Workstations, Bloomberg and Eikon
  • Refinitiv Enterprise Platform (inc TREP & RMDS)
  • Summary of non-Thomson Reuters Platforms and Messaging Systems
  • IBM, Infomatica (29West), Vela (inc NYSE &Wombat), Activ Financial, Tibco
Overview of Financial Sector Specific Applications

15:00 - 15:30

  • Charting & Technical Analysis
  • Risk Management
  • Traditional Trading Systems inc OMS & EMS
  • Pricing Systems
     
Algorithmic Trading from a Business Perspective

15:30 - 16:00

  • The anatomy of an Algo Trading system
  • Differentiators
     
Price Publishing and Contributions

16:00 - 16:30

  • Publishing and Multi-vendor Contributions Systems
    • Refinitive (Thomson Reuters), Arcontech, MDX
  • Fixing Rates
    • Regulatory Concerns inc. The Libor and FX fixing scandals
       

16:3017:00

Exam Preparation – After Day 2

16:30 - 17:00

  • Hard Sample Exam Questions
  • Flash Cards
  • Market Data Dictionary and Glossary

17:0017:00

End of Day 2

17:00 - 17:01

Day 3 will focus on 3 course units - FISD 4: Market Data Management and the Vendor Landscape, FISD 5: Industry Issues and Trends & FISD 6: Preparation for Taking the FIA Exam.

08:3009:00

Registration and refreshments

08:30 - 09:00

09:0012:30

FISD 4: Market Data Management and the Vendor Landscape - Users and Uses of Market Data

09:00 - 09:30

  • Human Use of Data
  • Local Applications
  • Shared Applications
  • Algorithmic-based Applications
     
Market Data Usage in Consumer Firms

09:00 - 09:30

  • Front Office
  • Mid office and Risk Management
  • Back Office
  • Compliance
     
Summary of the Commercial Frameworks for Distribution and Use of Market Data

09:00 - 09:30

  • Example Commercial Frameworks
    • Bloomberg, Refinitiv (Thomson Reuters)
  • Unit of Count
  • Datafeed Licensing
  • Contracts, Compliance and Audits
  • Data Usage Reporting and Inventory Management
    • DACS, OPEN DACS, DART, MDM, FITS, INFOmatch
       
The Vendor Landscape

09:00 - 09:30

  • Overviews of:
    • Bloomberg, Refinitive (Thomson Reuters)
    • ICE Data, Six Financial, Morningstar
    • Standard & Poor’s, Dow Jones, FactSet, IHS Markit
  • Sample Exchanges and MTFs
    • NYSE, LSE, DBG, BATS, Chi-X
  • Regional Niche Players
  • Specialist Players
     
Summary of Market Data Job Functions

09:00 - 09:30

  • Consumer Firms
  • Vendor Firms
  • Exchanges & Regulators
     
Providers and Industry Groups

09:00 - 09:30

  • General Data Providers
  • Exchanges and Trading Venues
  • Technology Providers
  • Peer Groups and Trade Associations
     

12:3013:30

Lunch

12:15 - 13:15

13:3015:00

FISD 5: Industry Issues and Trends - Issues and Challenges – The Markets

13:30 - 14:00

  • Global
    • Basel I, II, III
  • The US Markets
    • From RegNMS to Dodd-Frank
  • The European Union
    • From MiFID to MiFID II / MiFIR
  • Includes Origins and Impacts of the Credit Crunch
  • Challenges in Asia
     
Issues and Trends – The Data

13:30 - 14:00

  • ECB Market utility for Securities Reference Data
  • Impact of ‘Socially Responsible Investing’
     
Issues and Trends – The Technology

13:30 - 14:00

  • HTML5 & Web 2.0
  • Clouds, Grid and Virtual Computing
  • The Algo and HFT Debate
     
Issues and Trends – Data Management and the Vendor Landscape

13:30 - 14:00

  • Symbology Licensing
  • Derived Data & Data Piracy
  • SLAs
     

15:0015:30

Afternoon Break

14:30 - 15:00

15:3017:00

FISD 6: Preparation for Taking the FIA Exam - FISD and The FIA Exam

15:30 - 16:00

  • FISD the Organization
  • The aims and objectives of the FIA exam
  • Registration for the FIA Exam
  • Exam Locations
  • Moving and Rescheduling the Exam
  • Discounts
     
Exam Preparation

15:30 - 16:00

  • Syllabus Review
  • Accessing additional KSS-T training support
     

17:0017:00

End of course

17:00 - 17:01