I am about to undertake the SII certificate course...

[Escobar 07]

Hi guys,

I am on the verge of paying for course material and exams for the SII certificate, but I have a few reservations

Ideally, I would like to persue a career in the trading sector. Maybe as an assistant trader, or in sales to begin with, but working my way up to eventually become a trader on the live floor.

I am aware that the Financial Regs are a must do, but I am not sure whether I should opt for the Securities or Derivatives modules also. I am thinking that the derivatives will be more likely, especially for my desired career path.

Also, could anyone recommend other websites that may be able to provide me with the course material (past papers, books, exam tuitions etc) other than 7 city.

All input would be greatly appreciated.

Thanks in advance!!!

 

[Escobar 07]

any advice anyone?

 

[Charlton]

any advice anyone?

Try contacting the SII training providers link at:

http://www.securities-institute.org.uk/web5/infopool.nsf/HTML/rAccredited

Charlton

 

[jkplay]

Hi guys,

I am on the verge of paying for course material and exams for the SII certificate, but I have a few reservations

Ideally, I would like to persue a career in the trading sector. Maybe as an assistant trader, or in sales to begin with, but working my way up to eventually become a trader on the live floor.

I am aware that the Financial Regs are a must do, but I am not sure whether I should opt for the Securities or Derivatives modules also. I am thinking that the derivatives will be more likely, especially for my desired career path.

Also, could anyone recommend other websites that may be able to provide me with the course material (past papers, books, exam tuitions etc) other than 7 city.

All input would be greatly appreciated.

Thanks in advance!!!

Once you do the regs you can actually do the securities and derivatives together. I found that it's the best option because eventually in your career your gona need both and doing them together equals less questions - it will look good on your CV too!!

http://www.bppfinancialservices.com/website/si_certs/securities_derivatives/overview.aspx

Dont buy anything until after the 17th of november because its all changing with MIFID.

JK

 

[Escobar 07]

Thanks Charlton for looking, I actually found it shortly after making the topic.

JK Play thanks for that also. I hope that they do not combine the costs for the two individual modules now that they have been joined together!

 

[bypath3]

I'm in the same boat mate, I think the joint securities and derivatives module is the one to take, it seems to include all of the 2 seperate ones with the exception of commodities. Also, I think you have to do a third module on investment and risk from november for the certificate to hold as a regulation thingy. I'm a bit pissed off that the materials from somewhere like 7city are around 200 with class room, but 150 without, for some bloody paper. I don't see why I should subsidise people who want it fed to them. I'm just a bit apprehensive from getting the actual sii self made material. I know it's hardly exciting stuff to begin with, but am I right thinking that the sii material is going to be a bit dull and not so well written as the others(7city, bpp, etc.)?

 

[iagho]

I've just got my SII Certificate (Securities and Financial Derivatives). I'm not working yet, but have been advised that it would have provided a good basic knowledge about the financial markets and a little boost to my CV. They were right 'cause what I couldn't find in other books in preparation of a 'Sale & Trading' job interview I found it there, clear and summarized. Therefore, having been in your situation short ago, my suggestion is: go for it!

But, I have a question too:
I chose unit 4 (Sec & Der) + unit 6 (Principles of Regulation). The Certificate awarded is the same (in the name) goin' through unit 1 or 6, but will a company or investment bank consider it as the same? Should I go back and sit unit 1?

Tks - Alex

 

[papav]

I've just got my SII Certificate (Securities and Financial Derivatives). I'm not working yet, but have been advised that it would have provided a good basic knowledge about the financial markets and a little boost to my CV. They were right 'cause what I couldn't find in other books in preparation of a 'Sale & Trading' job interview I found it there, clear and summarized. Therefore, having been in your situation short ago, my suggestion is: go for it!

But, I have a question too:
I chose unit 4 (Sec & Der) + unit 6 (Principles of Regulation). The Certificate awarded is the same (in the name) goin' through unit 1 or 6, but will a company or investment bank consider it as the same? Should I go back and sit unit 1?

Tks - Alex

hi
sorry for late reply . I am about undertake same certification and will be very appretiate
if you let me know which traning provider you had been using.
Many thanks.

 

[Papa Lazarou]

Guys. I passed the 'Certificate in Derivatives' with BPP... SII Certificates

but there are various certificates you can complete (widely known in the industry as your 'reggie reps' (registered representative)) , depending on what area of business - Are you working in financial derivatives, commodity derivatives, securities, investment management etc?

Consider the following though before you proceed.....

1) You do not need these exams if you are not dealing with clients. i.e. if you are going to be trading your own account then there is no need. They are largely for people who deal with private clients, so that the FSA can give some kind of assurances to end clients that staff of FSA registered firms actually know what they are talking about (to a benchmark level at least!).

2) After passing these exams you need to be registered by your firm with the FSA to gain 'Approved Person' status as working in a 'Customer Function' (i.e. broking). If you do not become registered within a year these exams become obsolete and you have to retake. I believe the same applies if you stop working in a customer function as your firm is required to delist you if you stop working in that function or leave the company.

3) As of 17 November 2007 the syllabus for these exams completely changes 1: to include MIFID, 2: (in the case of the derivatives cert at least) to include much more on Credit Derivatives rather than bog standard ETD's. Therefore be careful when buying the books off other people as they may be obsolete.


My general advice would be... If you are not already working for an FSA firm then don't bother with these exams until you are. I don't know a single company that wouldn't pay for you to take these exams provided you are working in an area that actually requires you to have them (i.e. one where you could be required to give clients investment advice).


Hope this helps.

Dave!

 

[maximm2008]

If you do choose to do the Securities and Financial Derivatives course then I sat the exams seperate of each other rather than all in one go. If you sit the exam as one if you fail one you automatically fail the other one regardless of if you passed or not.

Just thought I would let you know that.....

 

[papav]

Many thanks for advice.

 

[pcbbsuk]

I work in a software company providing Software for Fund Managers, any point in these exams?

 

[Papa Lazarou]

I'd be inclined to say none what-so-ever. Unless you're offering financial advice to them? Best way to check is see if your company is FSA registered?

The only situation i can see you needing them for in a software role is if you were on a help desk for a software company and someone's trading system crashed and they needed you to place an order in the system for them.

Ask your company to pay for these exams - their reply will probably tell you all you need to know!!

All the best.

 

[majicka]

Back to what a previous poster said: I do in fact believe that having passed the SII Certificate helped give me an advantage over other candidates when I was looking for a job. It may not mean much but it shows willingness and an enthusiasm for the job which I found employers appreciated.

If employers can save money and get someone who already has the exam, they'll gladly do it.