Trading Related Qualifications

[lazerradial2003]

I'm just going into my final year of university and aim to go into trading when I finish. Can anyone give me any advice on well respected qualifications outside of university which I could take?

I already trade a (small - I'm a student lol) personal account and spend a lot of time reading around the subject but I'd like to bolster my CV with some well known, respected and ideally useful qualifications. If a qualification is well respected and likely to stand out on a CV then I think the time and cost would be well worth it.

Thanks, Ben.

 

[grantx]

Ben,

Look at the Securities Institute's exams.

Grant.

 

[lazerradial2003]

Ben,

Look at the Securities Institute's exams.

Grant.

Thanks for the reply, I've heard these qualifications mentioned before, are they the 'industry standard' so to speak?

The one which has been recommended to me before is the 'Certificate in Securities & Financial Derivatives.' Looking over the site they also have an introduction to investment. Which in your opinion is likely to be most useful? I already have a fairly strong understanding of the industry in general although my degree is in law so I have no official way of showing this. Is it likely that potential employers would accept that I must already have the basic knowledge if I have one of the higher level qualifications?

Has anyone done one of these qualifications who can advise me as to the amount of time needed to study them and the costs involved? I got the impression for the site it was something like £75 for the materials, £40 for membership and then something extra for the exam itself).

Thanks, Ben.

 

[grantx]

Ben,

It has certainly changed since I did the exams. The site isn't presented particularly clear. Have a look here:

SII Certificates (SII Certs) – About the SII Certificates - BPP Financial Services

I also agree the Certificate in Securities & Financial Derivatives is the way to go. However, it would be simpler to take Unit 1 (or Unit 6) - Regulation with Unit 3 (Derivatives) or Unit 2 (Securities). Then I would take Unit 7 (Financial Derivatives).

To advise clients Unit 8 (Investment and Risk) will also be needed. Next perhaps consider Unit 5 (Investment Management).

I found the Securities Unit harder than the Derivatives Unit.

I used these BPP previously and the material they provide is good. I would recommend these.

Another option is the Eurex Trader's Exam (futures and Options). The material is free from the Eurex website and the exam (in London) costs around £75. It is also more difficult than any of the SII units and therefore, I believe, more valuable.

This may seem a lot of work but the aim is to provide a broad basis on which to develop, while also providing for a greater range of options to present to potential employers.

Or perhaps you could do an MSc in a financial field, full-time for a year.

Grant.

 

[CHRISTO9HER]

Hi Ben,

I have revived this (semi) dead thread because I am also a student and I did the Certificate in Securities and Financial Derivatives last summer, so hopefully I can answer a few of the points you raise.

I will start with the negatives, then the positives.

Firstly, its not cheap and will set you back around £500 (assuming you pass them all first time).

The thing with the SII exams, is that they are really very introductory, (despite the fancy title). Also, they will teach you very little about trading. They are probably more suited to someone looking to go into a sell-side role. They are multiple choice and you end up sitting there for hours trying to remember that bonds are settled at T + 1 in the UK, T + 2 in the US etc etc (that is probably wrong but I am actually glad I have forgotten that rubbbish!)

However, as a student, these do show that you have real enthusiasm for financial markets and that you have actually got off your **** and done something about it. I have been through a whole lot of interviews this year for trading internships and can honestly say that every single interviewer loved the fact that I had some concrete evidence of my interest in markets.

Another good point is that they really dont take that long to do, they recommend 250 hours study I think but you can easily knock them out in far less.

So if you do them, know that you are doing it to signal interest, not because you are going to learn anything great.

Also, check out Grant's recommendation for the Eurex Trader's exam, this sounds as though it could be even better for you. If you are turning up to internship interviews with that under your belt then you will blow the competition out of the water. (most of them are going into the interviews trying to remember whether its "Buy low sell high" or "Sell low buy high".)

All the best

Chris

 

[grantx]

Chris,

"Buy low sell high" or "Sell low buy high". Stop teasing. Which one is it?

What I remember from my Reg Rep exam (would be Regualtion and Securities now) a long time ago: "Which exchanges have 5-day settlement"? Answer: New York, Sydney and Amsterdam. Tip - the three A's: America, Australia and Amsterdam. Never did get me a job as International Head of FX Arbitrage at Deutsche Bank.

I still think the Eurex exam is the best (and cheap). It will also instill German stoicism, efficiency and self-discipline.

Grant.

 

[CHRISTO9HER]

Chris,

"Buy low sell high" or "Sell low buy high". Stop teasing. Which one is it?

What I remember from my Reg Rep exam (would be Regualtion and Securities now) a long time ago: "Which exchanges have 5-day settlement"? Answer: New York, Sydney and Amsterdam. Tip - the three A's: America, Australia and Amsterdam. Never did get me a job as International Head of FX Arbitrage at Deutsche Bank.

I still think the Eurex exam is the best (and cheap). It will also instill German stoicism, efficiency and self-discipline.

Grant.

Im surprised that kind of knowledge didnt get you in!! Maybe you should have been clearer in your interviews that you knew exactly which exchanges had 5 day bond settlement? :cheesy:

Wow, I was way off with the T+2 then!! Maybe I'm just not cut out for this trading stuff Its things like that that really make you start to doubt yourself.

And I cant remember whether its buy high sell low or sell high buy low. (Was that even in the course?)

 

[grantx]

Chris,

Can't remember buy/sell high/low? It's not important - all trades are 50/50 anyway, so either is good enough.

I said similar during an interview with Deutsche Bank. I was asked my position regarding absorption probababilities in the context of Markov chains. "Who gives a flying fck? Toss a coin". Maybe it was that knowledge that didn't get me in.

Grant.

 

[bypath3]

Would I be right in thinking that I need to be working for a Eurex registered firm before applying to be registered as a trader, and would I be right in thinking I need to do this before applying for the Eurex traders exam?

Cheers

 

[bypath3]

Anyone?

 

[KillPhil08]

Eurex - Admission Requirements

HTH

 

[bypath3]

For the purpose of proof of admission requirements according to the Admission Regulation for Exchange Traders at Eurex Deutschland, the following documents and evidence must be enclosed with the application for admission:
Application for Admission as exchange trader at Eurex Deutschland (application form).

For proof of professional qualification (functional knowledge and practical experience), the following documents have to be enclosed with the application:

Expertise:
a) Copy of the exam certificate according to section 3 paragraph 3 of the Admission Regulation of a successfully passed Trader Examination at Eurex within the two years prior to the time of application

but then it says

If you do not have the functional knowledge as well as the practical experience the above mentioned, please apply for the Eurex Trader Examination and the Eurex System Training for Trading under the following link:

1. Eurex Trader Examination
2. Eurex System Training for Trading

The registration for the Eurex Trader Examination and the Eurex System Training for Trading is only possible if the admission as exchange trader at Eurex Deutschland has been applied for at the same time.

Please correct me if I'm wrong, but are they saying I need the certificate for the trader exam to apply for admission as a trader, but to apply for the exam in the first place I need to be applying for the trader admission at the same time!?

 

[blancspa]

It will be good if someone competent will clarify the conditions and give away some guidance to newbies

Regards

 

[Pazta]

Hi Guys,

Ive just started studying for my unit 2 securties and was wondering if anyone had any advice on how to appraoch it...seems like a lot of material to get through

 

[tpearl]

Hi Guys,

Ive just started studying for my unit 2 securties and was wondering if anyone had any advice on how to appraoch it...seems like a lot of material to get through

It certainly is a lot of material to study. I used 7Vcity when I did mine several years ago and found their online seminars very useful. ALOT of guys I know failed this simply by not doing enough hard grafting. There is no short cut to passing this exam. Nothing in it is complex, there is just a lot of info to learn. Make sure you learn from the book and don't go for the route of learning from the exam questions. Once you know everything in the course boom you will pass. Try 2 hours revision a day minimum. Preferaby 6-8 hours a day. Then like every one else who has passed you will forget 80% of the content and never need to use the information ever again. Crazy but that's how it works...

 

[Pazta]

Investment and risk Qualifications

Hello guys,

I have recently completed my Certificate in Securities (unit 1 and 2) and I am now studying for my unit 8. There seems to be an endless amount of information to get through and I was told that unit 8 was easier than unit 2 but there is sooooooooo much more information. Has anyone got any advice on how difficult the exam is or how to approach the studying?

Also I have all the learning material for unit 1 and unit 2 including past exams papers and I am selling it for a deeply discounted price. If anyone is interested please email me on [email protected].

Please someone reply!

Thanks

Pazta