Capital Markets Programme (formerly the Certificate in Investments)

The CISI Capital Markets Programme (formerly known as the Certificate in Investments) is a wide range of qualifications for individuals working within the financial services industry. Our CISI Capital Markets programme has been designed specifically for professionals looking to further their career in financial services. Passing these exams is one way to prove the competence required to achieve 'approved person' status.

Of course, you'll need to select the qualification that's most appropriate to you and your career goals. With BPP Professional Education, you can choose from all four options, including Securities, Derivatives, Financial Derivatives and Commodity Derivatives*. The Capital Markets Programme is accredited by Ofqual as the Level 3 Certificates in Investments.

The Level 3 Certificate in Corporate Finance develops the required knowledge to work within the corporate finance industry. It explores corporate finance legislation, regulation and techniques and provides you with an understanding of how corporate finance transactions are developed to meet the needs of a client. The Certificate in Corporate Finance is jointly offered by the CISI and ICAEW as part of the corporate finance programmes. This is aimed at individuals working in corporate finance, who need to demonstrate a sound understanding of the industry. The Certificate in Corporate Finance has its own regulatory unit, as well as a technical foundation unit.

We have an exceptional record of success – having guided over 50,000 delegates through the various Chartered Institute for Securities and Investment (CISI) Certificates.

BPP Professional Education prepares you for exams that are assessed and awarded by The Chartered Institute for Securities & Investment (CISI). All CISI awards are made by the professional body CISI. BPP Professional Education provides an excellent series of study programmes to prepare you for the CISI assessments. This is not a BPP University course.

* The CISI are retiring the Commodity Derivatives unit, which will be examined for the last time on 31st December 2014. There will be a planned syllabus update on 22nd March 2014, and syllabus v6 will be available until 31st December 2014. This period allows adequate time for any candidates preparing for the exam, and also allows for any re-sits.

Any candidate who needs a qualification that covers Commodity Derivatives can find this subject covered in depth in the CISI Capital Markets Derivatives unit. Please refer to the CISI website for further details.

Key details: Ways to Study |  Dates and prices

Key Information

  • BPP is a CISI accredited training provider
  • Proven online and printed study materials
  • A choice of training towards seven different CISI Certificates
  • Repeat the course free of charge should you not succeed first time
  • Study in London, with the option to sit your regulatory units in Edinburgh
  • Excellent first time exam pass rate
  • Experienced full-time tutors with industry experience
  • Classroom or distance learning options available
December 2012 booking form
Contact us: 03331 227 821
 Events

CISI exam changes

The Financial Services Bill received Royal Assent on 19th December 2012, becoming the Financial Services Act, and this came into force on 1 April 2013. This gives the Bank of England responsibility for protecting and enhancing financial stability. It also abolish the Financial Services Authority (FSA) and creates a new UK regulatory regime, consisting of the Financial Policy Committee (FPC), the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). As a result of these regulatory changes, the CISI Certificate regulatory units will now known as the 'UK Financial Regulation' unit (unit 1) and also the 'Principles of UK Financial Regulation' unit (unit 6).

Become FCA approved

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Achieving Financial Conduct Authority (FCA) 'approved person' status is a crucial step in moving your career forward if you work in the securities and derivatives market. Studying with BPP gives you the very best chance of success.

We offer a comprehensive programme of Certificates issued by the Chartered Institute for Securities & Investment (CISI), the professional body for those who work predominantly in the UK securities and investment industry.

Three-step process

Our study materials are designed to help you pass first time around. Whether you're a classroomdistance learning or Online Classroom Live delegate you'll benefit from our three steps to success:

  • Knowledge
  • Revision
  • Added support

This, combined with access to our online learning portal, gives you a fantastic opportunity to progress your career in a front-of-house position such as trading or investment advice.

Recently, the average pass rate for students sitting CISI Certificates with BPP was 93%, with a 100% pass rate for those sitting the technical foundations paper in CISI Corporate Finance.

This level of success is no coincidence. Our tutors have an average of seven years' teaching plus ten years' industry experience – no-one is better qualified to give you the support and knowledge that you need.

Personal and business success

CISI Certificates benefit you as an individual, as well as the organisation that you work for. You will be able to demonstrate a more thorough understanding of the products your company deals in. As an FCA 'approved person', you'll have the confidence of your clients and your organisation as a whole.

Dates and prices

For dates and prices and exam information, view the following forms:

Structure

In order to achieve any one of the four CISI Capital Markets programme qualifications you must first complete the UK Financial Regulation unit and then you will then need to add a further technical unit in either Securities, Derivatives, Financial Derivatives or Commodity Derivatives in order to achieve your Capital Markets qualification.

Please be aware that as a pre-requisite to sitting the Capital Markets programme exams, candidates must obtain either a grade A or grade B pass in the CISI Integrity Matters online test. This test highlights various ethical dilemmas that individuals may face in the workplace.

In additional to these Capital Markets units, there is also a Level 3 Certificate, known as the Certificate in Corporate Finance. This qualification has its own regulatory unit, as well as a technical foundation unit. Ideal for those involved within the corporate finance industry.

Please note the Principles of Financial Regulation is no longer available, having been retired by the CISI on 30th September 2013.

  • Capital Markets in Securities
  • Capital Markets in Derivatives
  • Capital Markets in Financial Derivatives
  • Capital Markets in Commodity Derivatives
  • Certificate in Corporate Finance

Unit 1: UK Financial Regulation

This unit considers the regulatory environment in the UK. The Financial Services Act came into force on 1st April 2013. This gives the Bank of England responsibility for protecting and enhancing financial stability. It will also abolish the Financial Services Authority (FSA) and creates a new UK regulatory regime, consisting of the Financial Policy Committee (FPC), the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).

The material also looks at the detail regulated activities and specified investments, the authorisation process for firms and the approval process for individuals performing controlled functions. Thereafter, we consider other sources of regulation including measures designed to prevent financial crime as well as considering a number of European Union (EU) Directives, with special emphasis on the Markets in Financial Instruments Directive (MiFID). 

The next part of the syllabus is extremely important since it considers the Conduct of Business Rules (COBS) and Client Assets Rules. MiFID has had a dramatic impact on these rules and this underlines the fact that regulation is increasingly being determined at the European level.

Unit 2: Securities

This unit considers the different securities traded in the financial markets including shares, warrants, bonds (with special emphasis on UK Government bonds) and currencies.

We then consider how securities are brought to market and discuss the role of stock exchanges. Initial Public Offerings as well as further issuances (including rights issues and bonus issues) are described. The rules around stakebuilding are also examined. The trading of securities is then described before we examine how securities trades are cleared and settled at securities depositories.

Attention is then given to regulations across a number of important markets with special emphasis on the rules relating to disclosure of interests in shares. Accounting is then addressed with an examination of the main financial statements that companies must produce before we move on to the analysis of accounts. Finally we examine investment management by considering the risk and reward associated with investing in various asset classes.

Unit 3: Derivatives

We begin with an introduction to futures and options and discuss much of the terminology that it is important to understand. We also consider the cash products that underlie derivative contracts. We then move on to discuss derivative exchanges and consider the trading platforms and clearing mechanisms used.

We analyse how futures and options are priced and examine a number of arbitrage trades. With particular emphasis on NYSE Euronext.liffe, we discuss trade reporting requirements, order types and the need for trade registration.

Over the counter (OTC) derivatives offer much more flexibility than exchange traded derivatives. We discuss a wide range of OTC products including forwards, swaps, structured products and options.

We then examine the principles of clearing, margining and settlement, with the emphasis on LCH.Clearnet. We will also consider how market participants employ a variety of options strategies when hedging or speculating. Finally, we look at how regulations are applied in the main derivatives markets.

Unit 5: Investment Management 

Please be aware that the current syllabus version 12 is valid until 31st December 2013 at which time this unit is being retired by CISI. Therefore, the last date for examinations in this unit will be 31st December 2013. Further details can be found on the CISI website if required.

We will cover the fundamental approaches and methods used within the investment management industry. The course gives a solid grounding in financial maths, covering statistical techniques such as calculating standard deviation and variance, as well as approaches for discounting cash flows to obtain present values. The basic principles of financial maths are carried over into the asset valuation section as the characteristics of bonds, equities and derivatives are covered, alongside various valuation methodologies.

In order to understand businesses the fundamentals of accounting are covered along with an introduction to financial statement analysis. The use of resources within the economy is also examined with sections on both micro and macro economics. The jigsaw is completed with a look at portfolio management and techniques for constructing portfolios, as well as methods for evaluating and measuring investment performance.

Financial Derivatives

This unit begins with an introduction to futures and options. We consider derivative exchanges and the trading platforms and clearing mechanisms used. We analyse how futures and options are priced and examine a number of arbitrage trades, as well as trade reporting requirements, order types and the need for trade registration on NYSE Euronext.liffe.

Over the counter (OTC) derivatives offer much more flexibility than exchange traded derivatives. We discuss a wide range of OTC products including forwards, swaps, structured products and options.

We then examine the principles of clearing, margining and settlement, with the emphasis on LCH.Clearnet. We will also consider how market participants employ a variety of options strategies when hedging or speculating. Finally, we look at how regulations are applied in the main derivatives markets.

Unit 9: Commodity Derivatives

We begin with an introduction to futures and options and discuss much of the terminology that it is important to understand. We also take a look at underlying commodity markets before considering other markets such as debt, equity and foreign exchange. We then move on to discuss derivative exchanges and consider the trading platforms and clearing mechanisms used.

We analyse how futures and options are priced and examine a number of arbitrage trades. With particular emphasis on UK exchanges, we discuss trade reporting requirements, order types and the need for trade registration.

Over the counter (OTC) derivatives offer much more flexibility than exchange traded derivatives. We discuss a wide range of OTC products including forwards, swaps and options.

We then examine the principles of clearing, margining and settlement, with the emphasis on commodity derivatives. We will also consider how market participants employ a variety of options strategies when hedging, speculating or trying to exploit arbitrage opportunities. Finally, we look at how regulations are applied in the main derivatives markets.

The CISI are retiring the Commodity Derivatives unit, which will be examined for the last time on 31st December 2014. There will be a planned syllabus update on 22nd March 2014, and syllabus v6 will be available until 31st December 2014. This period allows adequate time for any candidates preparing for the exam, and also allows for any re-sits.

Any candidate who needs a qualification that covers Commodity Derivatives can find this subject covered in depth in the CISI Capital Markets Derivatives unit. Please refer to the CISI website for further details.

Certificate in Corporate Finance

The Certificate in Corporate Finance is the first part of the Corporate Finance Qualification (CFq). This tests your understanding of basic corporate finance concepts and the regulatory environment. 

The full certificate includes both the regulation and technical foundations units, the contents of which are shown below. These units can be taken as a full course or booked individually.

Corporate Finance Regulation

We consider the regulatory environment in the UK and the Financial Conduct Authority (FCA). The role of the FCA is considered as well as the content of the FCA Handbook. 

The material also looks at the detail of The Financial Services and Markets Act 2000 (FSMA), defining regulated activities and specified investments, the authorisation process for firms and the approval process for individuals.

We also consider money laundering and insider dealing within financial crime, the City Code on Takeover and Mergers, the Companies Act and finally the equity capital markets, including the UKLA Listing rules.

Corporate Finance Technical Foundations

This unit requires a good knowledge of the mathematics behind risk assessment and valuation methods. We consider various quantitative methods, as well some detailed accounting analysis. We also look at how a business can raise finance and the cost of capital associated with their capital structure. 

We then consider the four methods used to value a business. Finally, we look at the motivations behind acquisitions and disposals, and finish by discussing the documentation used in corporate finance.

Introduction to Financial Maths 

Attend this new one-day course to prepare for the financial maths you will encounter on your Certificate in Investment Management training.

Tailored to meet the needs to CISI Certificate in Investment Management and IMC delegates the Introduction to Financial Maths is ideal if you want to brush up your maths skills or simply want to recap, so that you get the most out of your training. Step by step our tutors will cover the topics listed and provide guided question practice and support:

  • Location and Dispersion (means, medians and mode)
  • Financial Maths (basic discounting and compounding, annuities, perpetuities, mortgage repayments)
  • Statistical Measures (standard deviation, normal distribution, covariance)
  • Share Valuation and Return
  • Bond Valuation and Return Measures (include duration calculations and riding yield curve calculation)
  • Return Measures (HPY, time weighted, money weighted)
  • NPV and IRR

Flexible learning

The BPP CISI courses are designed to fit around your personal and business life. Choose to study either on a classroom-based course or, at your own pace, via distance learning.

Taught courses

CISI taught courses focus on teaching the more technical aspects of the syllabus, running through examples and practising questions to help you get to grips with the complex issues involved.

All our courses are taught by tutors with both academic and professional experience. The classroom environment is fully interactive, meaning you can ask questions and get immediate feedback from your tutor.

Online Classroom Live

Our Online Classroom Live classes will consist of 4 half day sessions that utilise a web based platform. You can learn from the comfort of your own home, or office, and interact with your tutor and other delegates during a live online session. These sessions will also be recorded, so if you are unable to attend an online session live you can catch up with these class recordings.

watch CFA online

Distance learning

The BPP distance learning options allows you to study when, where and how you want – using online tutorials, revision kits and study guides, as well as MP3 and MP4 downloads. You'll also receive tutor support at every stage – with contact via phone and email.

Key study points

  • MP3 and MP4 downloads
  • Online tutorials and revision kits
  • Full tutor support, whether learning in the classroom or distance learning
  • Rapid email response
  • Mock exam papers and consolidation exercises
  • Study guides for time management tips and learning techniques
  • PowerPoint course slides of class tutorials

Flexible start dates

We offer start-dates for unit courses throughout the year. For more information please email us at financialservices@bpp.com

Entry requirements

The CISI Capital Markets programme (formerly Certificate) courses are aimed at people who currently work, or aim to work in front-of-house positions advising on investments and securities. In order to achieve any one of the four CISI Capital Markets programme units, you must first complete the UK Financial Regulation unit, followed by a technical unit, in either Securities, Derivatives, Financial Derivatives or Commodity Derivatives.

Please be aware that as a pre-requisite to sitting the Capital Markets programme exams, candidates must obtain either a grade A or grade B pass in the CISI Integrity Matters online test. This test highlights various ethical dilemmas that individuals may face in the workplace.

Alternatively, you may undertake the Level 3 Certificate in Corporate Finance, that has its own regulatory unit, followed a technical foundation unit. There is currently no requirement to sit and pass the CISI Integrity Matters test prior to the Certificate in Corporate Finance exams.

 

Study locations

You can study for a CISI Capital Markets programme or a CISI Certificate in Corporate Finance face-to-face at our London centre in the City. Here you'll find state-of-the-art facilities and comfortable, high-quality classroom environments. But remember, if you prefer to study from home or overseas, you can also study for either the Capital Markets regulatory unit in Edinburgh.


In-house training

In-house training for a CISI Capital Markets or a CISI Certificate in Corporate Finance qualification can be a cost-effective and convenient way for multiple members of staff to take the CISI. To find out how we can help your business, please email in-house@bpp.com