CISI Global Securities Operations

It is a computer-based multiple-choice exam delivered at CISI test centres and, in many locations, by remote proctoring. The current question count, time allowance and pass mark are published by the CISI on its website and in the candidate handbook - confirm them there before you book, since they are reviewed periodically.

Moderate. The individual concepts are not complex, but the syllabus is broad and questions often ask you to apply a rule to a scenario rather than recall a definition. Candidates with day-to-day operations exposure find it manageable; career changers usually need a full read of the workbook plus substantial question practice.

Most candidates allow several weeks of part-time study, reading the official workbook chapter by chapter and then drilling questions. If you are new to securities operations, add time for the settlement cycle, corporate actions and custody chapters, which carry the most weight and are the most interdependent.

Yes. The CISI allows resits, and the number of attempts, waiting periods and any additional fees are set out in its exam regulations. Check the current policy on the CISI website before booking, and treat a failed attempt as diagnostic: identify which domains dragged the score down rather than rereading everything.

Start with the market environment, then trade execution and confirmation, then clearing and settlement - that sequence follows the trade lifecycle and makes later chapters easier. Move on to custody and corporate actions, then payments and FX, then reconciliation and controls, regulation, onboarding and KYC, and finally technology and resilience.

Clearing and settlement, and custody, asset servicing and corporate actions, together carry the largest share of the syllabus, followed by trade execution and confirmation, and the regulatory framework. Weighting alone should not drive your plan, but do not enter the exam weak on settlement fails or corporate action mechanics.

There is no operational experience requirement to take the exam; it is open to candidates preparing for or already in operations roles. Employers often use it for new joiners and for staff moving into custody, settlement or controls. Check the CISI entry requirements for your jurisdiction, as some local rules differ.

Confusing the roles of CCP, CSD and custodian; mixing up record date, ex-date and payment date in corporate actions; and misreading questions that turn on a single word such as 'buyer' or 'seller'. Slow, careless reading of scenario stems costs more marks than missing knowledge.

You will be asked to produce acceptable photo identification, and remote sittings require a quiet room, a working camera and a stable connection. Follow the CISI's candidate guidance on permitted materials - generally none - and arrive early, since late arrivals may be refused entry and treated as a no-show.

It is a well-known UK-origin qualification in securities operations and is used by banks, brokers and custodians, particularly in London and offshore centres. Recognition varies by firm and region, so check whether your target employer names it specifically. This page is independent study material and is not affiliated with or endorsed by the CISI.