Livestreamed
Live sessions: September 21, 22, 23, 28, 29 and 30
10.00-13.30 CEST | Time Zone Converter

 
OVERVIEW
COURSE SYLLABUS
COURSE DETAILS
TEST YOUR KNOWLEDGE


Financial technology – or FinTech – is having an enormous impact on the financial services industry and nowhere is this more noticeable than in the changes taking place in DCM. This course is designed to provide participants with an accessible review of the role of technology in the primary markets, both now and in the future.


Course Outcomes

By completing the course you will be able to:

    • describe the role technology plays in modern capital markets
    • explain key concepts and themes for primary market technology, including digitization of book-building, new issue automation, the impact of artificial intelligence, digital assets
    • understand high-level aspects of technology development, including the tech stack, intellectual property rights, licensing and user experience 
    • recap the work that ICMA does with respect to technology
Describe the types of market participants and appreciate why these firms engage in SLB, and their impact on capital markets and retail investors
Understand the operational, legal and regulatory risks and issues involved 
Comprehend the advantages/disadvantages of using different types of collateral 
Appreciate the impact that corporate actions have on the lent security and on securities collateral
Discover some relevant anecdotes and SLB case studies

Who should attend?


This course is appropriate for those who have capital markets experience but do not have a background in technology.

Certification and Programme Recognition
 
This course has been approved by the Securities & Futures Commission of Hong Kong for Continuous Professional Training (CPT).
ICMA is also a member of the CPD® Certification Service which helps organisations formalise knowledge into a structured and recognised approach to meet professional development expectations.

ICMA recommends that 30 learning hours can be associated with this course, based on attended/undertaken hours of study required to successfully complete the learning outcomes.

The course is certified by ICMA and the ICMA Centre, Henley Business School, University of Reading. A Certificate of Completion will be awarded to those who meet minimum attendance requirements. Please note that while course recordings will be made available to delegates, it is a course requirement that delegates meet the minimum attendance requirements to be eligible for a certificate. Please contact education@icmagroup.org if you have any questions regarding certification.

Please note that your course certificate of attendance or completion should be sufficient to satisfy any professional development requirements – if you require further evidence, please contact us at education@icmagroup.org.
 
Pricing

Members: EUR 2,450 + VAT (if applicable)
Non-members: EUR 3,150 + VAT (if applicable)

Course Trainer

Duncan Philips

The course syllabus is divided into the following key topic areas:

  • The Role of Technology
    • Defining the terms “technology”, “information technology” and “financial technology” and developing context
    • Reviewing major developments and themes in technology and computing and their impact on the world
    • Thinking about why technology is needed and the problems it solves.
    • Course overview
  • Digital Bookbuilding
    • Key bookbuilding workflows and the value of technology
    • A review of 20 years of technology development
    • Impact on workflows and practices
    • Potential future developments
  • Digitization, Automation and Structured Data
    • Defining and differentiating these terms
    • How to capture and process structured data
    • Where is automation viable and not viable?
    • Impact on the primary market
  • Digital Assets
    • Digital assets and distributed ledger technology
    • Blockchain and Cryptoassets
    • Major initiatives and projects
    • The case of central bank digital currencies
  • Legal Implications
    • Why technology is relevant to security documentation
    • How to automate the creation of legal documents
    • Protecting technology - intellectual property rights
    • Key aspects of licensing technology
  • Building Technology
    • How is technology actually built
    • The developmental process - Agile practices
    • Functional, Non-functional requirements
    • Business Analysis
    • Tech company org structures & roles.
  • The tech stack
    • Hardware
    • Software and applications
    • Networks, Client / server, front-end / back-end
    • Programming languages
  • Cloud
    • Modern cloud computing
    • Cloud deployment models
    • Cloud service models - IaaS, PaaS, SaaS
    • Virtualization / Containerization
  • Funding FinTechs
    • A review of funding methods
    • Case studies
Securities Lending & Borrowing (SLB) – The Fundamentals 
What is Securities Lending?
The Purpose: Why Do Lenders Lend & Borrowers Borrow?
Participants & Structure
Trading Strategies
Examples
SLB Trade Lifecycle - An Overview
Short Selling, Naked Short Selling
Locates, Trade Execution & Fails
Margin
Corporate Events
Billing
The Marketplace – Participants & Stakeholders
Lenders, Borrowers and Intermediaries 
Examples
The Lender’s Perspective: Motivations and Considerations
The Borrower’s Perspective: Motivations and Considerations
Global custodians
Third-party lending agents
Central counterparties
Anecdotes
SLB Trade Lifecycle
Pre-trading, Locates
Trade execution
Pre-settlement
Settlement 
Buy-ins
Mark to Market 
Margin calls
Recall/return of lent settlements
Fees & Billing
Assets & Collateral
Equity vs Fixed Income 
Fundamental collateral concepts
Margin: Purpose & use 
Types of collateral
Rehypothecation
Legal Documentation
GMSLA
Securities lending agency agreement
GMRA
Updating Books & Records
Securities bookkeeping: Definition & purpose
Importance of updating books & records
Updating books and records for lent/borrowed securities, cash and non-cash collateral, fees and rebates
SLB and Corporate Actions
Corporate actions: Overview 
Income
*Cash dividends
*Lent securities
*Short sale proceeds
*Lent/borrowed equity
Voting 
Withholding tax
Risks in Securities Lending & Borrowing 
Market Risk
Credit Risk
Operational Risk
Legal Risk
Reputational Risk 
Regulation
Introduction
EU short selling & financial transactions tax
CSDR 
Reporting to a central trade repository
Recent SLB Scandals & Controversies
The Lehman saga uncover

Livestreamed Course


ICMA courses are delivered via video conferencing accessed on our digital learning platform, using the most effective pedagogical approaches and incorporating interactive functions like virtual breakout rooms.

The Primary Market Financial Technology live sessions are delivered in six 3.5 hour sessions over the course of two weeks. You will be given access to the course materials before the live sessions, and will have access to those for four weeks from the first live session. During these four weeks you will have the option to keep working through the course materials at your own pace.

Live sessions: September 21, 22, 23, 28, 29, 30
10.00-13.30 CEST | Time Zone Converter


 


Livestreamed course fees


Members: EUR 2,450 + VAT (if applicable)
Non-members: EUR 3,150 + VAT (if applicable)

For security reasons, delegates who have not registered in advance will not be admitted to the live sessions.

Please note:

  • All payments must be made in Euro.
  • Invoices for single registrations are subject to an additional Euro 50 to cover administration costs*. No administration fee applies for invoices covering two or more registrations.

*Administration costs cover the provision of supporting documents, which are often requested along with the invoice, to become an approved supplier.



Contact

Should you have any queries, please contact education@icmagroup.org.


 

Test your knowledge

Central Bank Digital Currency
Central Bank Distributed Cryptocurrency
Commercial Bank Digital Currency
Commercial Bank Distributed Cryptocurrency
HTML
HTML and Javascript
Javascript
HTML, Javascript and CSS
A network of remote servers
The internet
The world wide web
A database
Top end and bottom end
Inside tech and outside tech
Front end and back end
Cloud tech and ground tech
Converts to equity upon a qualifying funding round
Converts to equity at a discounted valuation
Pays interest in cash or payment-in-kind
All of the other options

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