TMA Treasury Markets Certificate study guide
TMA Treasury Markets Certificate · Work through your exam, one topic at a time.
The Professional Certificate in Treasury Markets is a professional credential listed by the Treasury Markets Association (TMA), a Hong Kong industry body, alongside its Postgraduate Certificate in Banking and Corporate Treasury Management and the ECF-TM education track. The TMA site shows the Professional Certificate delivered as an e-learning course, with a scheduled run on 05 DEC 2026. The qualification targets practitioners working in, or moving into, treasury, markets and bank or corporate treasury functions who want a structured grounding in how money, FX and funding markets operate and how they are governed. The published domain structure spreads coverage evenly across four areas: Treasury Markets; Banking and Corporate Treasury Management; the Code of Conduct and Practice of TMA; and Market Data and FX Global Code. The TMA Treasury Markets Certificate study guide has 4 sections and about 1,472 words.
01Treasury Markets
Treasury Markets tests how cash, FX, bonds and derivatives are priced, quoted and settled, and whether you can apply market conventions without being misled by quotation direction. Expect questions on HIBOR, money-market day counts, FX spot/forward links, yield curves and simple hedging maths.
377 words, about 2 min02Banking and Corporate Treasury Management
Banking and Corporate Treasury Management tests whether you understand treasury as a balance-sheet and cash-flow function, not just a trading desk. Questions often contrast bank treasury (liquidity, funding, ALM, capital) with corporate treasury (cash, working capital, FX/rate hedging, counterparty risk).
369 words, about 2 min03Code of Conduct and Practice of TMA
Code of Conduct and Practice of TMA tests market-conduct standards for treasury professionals in Hong Kong: integrity, fair dealing, confidentiality, conflicts of interest, order handling, recording and escalation. The exam wants you to identify conduct breaches in realistic desk situations, not recite slogans.
340 words, about 2 min04Market Data and FX Global Code
Market Data and FX Global Code tests the integrity of prices, benchmarks and reference data used by treasury, plus the conduct expectations of the FX Global Code. Questions often ask whether a rate source, last-look practice or pre-hedge is acceptable, and what evidence should exist.
386 words, about 2 min