The ICMA Centre

The ICMA Centre, University of Reading has an international reputation for providing quality undergraduate, postgraduate and executive education tailored to the capital markets industry. The ICMA Centre’s success is based not only on the integration of applied finance theory and industry specific training but also its considerable professional and academic expertise, and strong links with companies and trade associations in the global finance industry. As part of the University of Reading’s Business School, the ICMA Centre was awarded a rating of 5 in the most recent RAE, placing the group in 4th equal position out of 100 UK universities in this field of research.

Established in 1991 with funding provided by the International Capital Market Association (ICMA) in Zurich, the Centre is housed in a purpose-built modernist building with state-of-the-art facilities including two dealing rooms using software similar to those found in major investment banks. Due to the fantastic success of the Centre and growing demand for their programmes from a worldwide audience ICMA are investing a further £5million expansion to the building which will include an additional 50 seat dealing room, 150 seat lecture theatre as well as new seminar rooms and dedicated research area. The new building is expected to be open for students at the start of the 2008 academic session.

Postgraduate Degrees:

• MSc Capital Markets, Regulation and Compliance
  Covers a wide range of European, US and international issues, focusing on building expertise in markets and instruments, market mechanics, dealing knowledge and practical market regulation and compliance.

• MSc Finance and Real Estate (subject to approval)
  Prepares graduates for a career in the financial markets with a specialism in real estate through a combination of the theoretical and practical skills essential to succeed.

• MSc Financial Risk Management
  Setting the standards for postgraduate degrees in financial risk management all over the world, students take modules that are closely linked to the PRM™ Handbook. We have strong links with the Professional Risk Managers’ International Association (PRMIA) and after graduation our students will be qualified to sit the PRMÔ examinations.

• MSc International Securities, Investment and Banking
  Widely regarded as one of the leading applied finance programmes in Europe this degree has been specifically designed with the support of industry practitioners to equip graduates with the skills and knowledge needed to succeed in the challenging field of investment banking. Students can choose from two optional specialisms: Trading and Asset Management or Quantitative Finance.

• MSc Investment Management
  Provides theoretical knowledge of portfolio management and quantitative finance, together with an applied set of courses looking at industry structure and trends. Integral to the academic course is the parallel study of the Chartered Financial Analyst® program, Level 1.

All our masters degrees are available on a full-time, flexible and distance learning basis

Executive Education

• ICMA International Fixed Income and Derivatives (IFID) Certificate programme
• NASD Capital Markets, Regulation and Compliance Certificate and Diploma programmes
• PRMÔ Certification programme
• ICMA Centre Workshops and Simulated Trading Days

Five academic papers (pdf), searchable from their site search engine:

• Credit Derivatives Pricing with a Smile-Extended Jump Stochastic Intensity Model
  Damiano Brigo and Naoufel El-Bachir
• Optimal Hedging with Higher Moments
  C. Brooks, A. Cerny, and J. Miffre
• The Relative Merits of Investable Hedge Fund Indices and of Funds of Hedge Funds in Optimal Passive Portfolios
  Jacques Pezier and Anthony White
• Regimes in CDS Spreads: A Markov Switching Model of iTraxx Europe Indices
  Carol Alexander and Andreas Kaeck
• A False Perception? The relative riskiness of AIM and listed stocks
  John Board, Alfonso Dufour, Charles Sutcliffe and Stephen Wells