BerkshireBull
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I originally started learning the SII certificate, Units 1 & 4, but after speaking with a hedge fund manager, he advised me to do the IMC qualification instead, as they look for this as a pre-requisite for job interviews.
I did the IMC course as 'Distance Learning' with 7 City (7city United Kingdom: Financial Markets Training). Great course, and course materials.
I have the exam booked for 1 weeks time.
I guess the choice of SII or IMC depends on what job you want afterwards.
Magos
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What do you want to be??
Trader
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SII (Securities and Investment Institute
Unit 1 + Unit 2 Certificate in Securities
Unit 1 + Unit 3 Certificate in Derivatives
Unit 1 + Unit 2 + Unit 3 Certificate in Securities and Financial Derivatives
Fund Manager
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Investment Management Certificate (IMC) is the degree of UK Society of Investment Professionals (UKSIP)
and progress to CFA which is administrated by Chartered Financial Analyst (CFA) Institute
Courses in UK can be found either in one of the following
1. BPP
2. 7city
Good Luck
Trader
----------------------------------------
SII (Securities and Investment Institute
Unit 1 + Unit 2 Certificate in Securities
Unit 1 + Unit 3 Certificate in Derivatives
Unit 1 + Unit 2 + Unit 3 Certificate in Securities and Financial Derivatives
Fund Manager
-------------------------------
Investment Management Certificate (IMC) is the degree of UK Society of Investment Professionals (UKSIP)
and progress to CFA which is administrated by Chartered Financial Analyst (CFA) Institute
Courses in UK can be found either in one of the following
1. BPP
2. 7city
Good Luck
Apologies.
I want to be an interdelaer broker or work in sales at a bank.
I wasn't sure if IMC was relevant for that and whether the SII would be more relevant.
For what sort of positions did the hede fund manager say IMC was relevant? I imagine this would be more for a research analyst position no?
I want to be an interdelaer broker or work in sales at a bank.
I wasn't sure if IMC was relevant for that and whether the SII would be more relevant.
For what sort of positions did the hede fund manager say IMC was relevant? I imagine this would be more for a research analyst position no?
Magos
Established member
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Interdealer broker you have to do SII, but I think you can get exempt with IMC.
IMC is usually done if you are looking for a role as an Investment fund manager. IMC is junior qualification; they say that is a mile stone to CFA. Therefore IMC is for junior / analyst positions. If you want to become an Associate or go higher, that means that you have the IMC degree on board
IMC is usually done if you are looking for a role as an Investment fund manager. IMC is junior qualification; they say that is a mile stone to CFA. Therefore IMC is for junior / analyst positions. If you want to become an Associate or go higher, that means that you have the IMC degree on board
Magos
Established member
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If the company you work provides one of the regulated activities in the FSA web site:
Do I need to be authorised?
YOU MUST BE AUTHORISED, therefore you need the exams
Magos
Established member
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I am sure that if you work in ICAP or Man Group they will require you to do it. it looks for the company's image.
Magos, to clear this up, I am an interdealer broker and I DO NOT HAVE SII QUALIFICATIONS! In fact, on my desk, less than half the brokers are qualified. So why are you adamant that you must hold the qualifications?
An interdealer broker does not do any of the tasks listed on the FSA link you posted. We do not hold any financial positions or provide investment advice. We simply match buyers and sellers together!! :smart:
An interdealer broker does not do any of the tasks listed on the FSA link you posted. We do not hold any financial positions or provide investment advice. We simply match buyers and sellers together!! :smart:
Yesterday I was thinking of my Reg Rep (now Securities Rep) exam years ago and something came into my head and I couldn't work out what it was: "STOPWIRLY".
Then it came to me; these letters represent what aren't future expiry month codes. As long as you remember the first month - Jan - is F, it's simple. What a load of bollox. Helps neither Adviser or IDB.
Grant.
Then it came to me; these letters represent what aren't future expiry month codes. As long as you remember the first month - Jan - is F, it's simple. What a load of bollox. Helps neither Adviser or IDB.
Grant.
That’s right you don’t need SII to be an inter-dealer broker.
I think the main difference from a broking standpoint between an SII and an IMC is that an IMC allows you to trade at a discretionary level for a client rather than just the advisory level that the SII allows. Can you imagine a hedge fund trader calling its clients for every trade they want to put on?
Correct me if I am wrong but I believe that IMC is akin to the 'securities & derivatives' unit in the SII which does not allow you to advise on commodities unlike doing the lone securities unit and derivative unit respectively.
I think the main difference from a broking standpoint between an SII and an IMC is that an IMC allows you to trade at a discretionary level for a client rather than just the advisory level that the SII allows. Can you imagine a hedge fund trader calling its clients for every trade they want to put on?
Correct me if I am wrong but I believe that IMC is akin to the 'securities & derivatives' unit in the SII which does not allow you to advise on commodities unlike doing the lone securities unit and derivative unit respectively.
Magos
Established member
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Prospects updated the Trading career path (training):
it looks like the new traders will need CFA as well
Comprehensive on-the-job training is provided from day one and is often organised on a rotational desk basis. This usually consists of shadowing a more senior trader, watching and listening to what is going on and learning the trading language (how to phrase questions and trades). This training is supplemented by lectures, seminars and conferences. If traders are specialising in a product for a specific country, language training is frequently provided.
Before traders conduct any business, they must qualify to be placed on the stock exchange's list of people who are eligible to trade. You are required to become an Approved person by the Financial Services Authority (FSA)
The Securities and Investment Institute (SII) offers relevant FSA-approved qualifications for traders. The SII Certificates programme consists of a regulatory unit and a specialised technical unit. Traders often have to take the exams relevant to other European Exchanges. Those choosing to do further study often go on to the Chartered Financial Analyst (CFA) programmes (CFA Institute Home)
Most firms pay for examinations, but individuals are expected to contribute a lot of self-study time. Graduate trainees are expected to learn quickly from other traders when starting out and need to be prepared to take on some menial tasks in the early days to assist their traders.
it looks like the new traders will need CFA as well
Comprehensive on-the-job training is provided from day one and is often organised on a rotational desk basis. This usually consists of shadowing a more senior trader, watching and listening to what is going on and learning the trading language (how to phrase questions and trades). This training is supplemented by lectures, seminars and conferences. If traders are specialising in a product for a specific country, language training is frequently provided.
Before traders conduct any business, they must qualify to be placed on the stock exchange's list of people who are eligible to trade. You are required to become an Approved person by the Financial Services Authority (FSA)
The Securities and Investment Institute (SII) offers relevant FSA-approved qualifications for traders. The SII Certificates programme consists of a regulatory unit and a specialised technical unit. Traders often have to take the exams relevant to other European Exchanges. Those choosing to do further study often go on to the Chartered Financial Analyst (CFA) programmes (CFA Institute Home)
Most firms pay for examinations, but individuals are expected to contribute a lot of self-study time. Graduate trainees are expected to learn quickly from other traders when starting out and need to be prepared to take on some menial tasks in the early days to assist their traders.
Yes, I think now IMC is one of the best very short course with multipurpose movements fo Finance,its frist step to CFA too.I am doing IMC with no Distance or any Tuition or any Private class, all I bought their Official manual, now rest of result after exam, I am confident its simple just need to concentrate few hours daily:clap::clap:
