ACI Diploma case studies
ACI Diploma · Put your knowledge to work in context.
The ACI Diploma is the advanced qualification in the education track of the ACI Financial Markets Association (ACI FMA), a long-established association of financial markets professionals with affiliated associations in Africa, Asia, the Americas, Europe and the Middle East. ACI FMA describes itself as "setting the benchmark in certifying the global financial industry," and its education programme spans the ACI Certificates, the Diploma and an online exam, alongside accreditation of ACI FMA exams and accredited trainers. The ACI Diploma case studies are 5 cases and about 3,702 words.
1The Pre-Announcement Whisper
You are a senior dealer on the sterling credit desk of a mid-sized UK bank and a member of the bank's new-issue committee. At 15:40 on Tuesday a relationship manager forwards you an email from a fund manager stating that a FTSE 250 issuer is "sounding out investors" for a £350 million seven-year bond "next week" and asking whether your bank can "indicate a level".
777 words, about 4 min2The Leveraged Collar That Was Called Free
You are an FX structuring analyst at a bank. A French industrial group with a 90 million payable due in 12 months asks for protection against EUR/USD falling below 1.0500 but refuses to pay an upfront premium.
720 words, about 4 min3The Fix Order and the Pre-Hedge
You are an FX dealer at a bank in London. At 15:35 a real-money client instructs your sales desk to buy €250 million against USD at the 16:00 WM/Reuters fix, "fix or better", with discretion over execution.
750 words, about 4 min4The Collateral Call at 07:00
You are the treasury front-office manager at a European bank. At 06:15 on Monday a rating agency downgrades the bank to BBB+.
745 words, about 4 min5The Submitter and the Swaps Trader
You are the compliance officer responsible for a bank's submissions to a major interest-rate benchmark. The bank is one of 12 contributors.
710 words, about 4 min