ACI – The Financial Markets Association has signed an Education Managing Services Agreement” with the Frankfurt School of Finance & Management (FSFM), which was formerly known as Bankakademie. The agreement makes FSFM ACI’s official academic partner in delivering ACI’s suite of examinations.
“Frankfurt School of Finance & Management is an ideal academic partner for us, verifying and quality checking our exams,” says Manfred Wiebogen, President of ACI – The Financial Markets Association. “Likewise we, ACI, as the largest global trade association in the wholesale financial markets offers the FSFM a worldwide communication and cooperation network to business schools and universities.
“Frankfurt School looks back on a great history and has excellent reputation amongst several organisations such as IFC, EBRD, KfW, GTZ, World Bank and ADB as well as commercial banks and non-bank financial institutions,” he adds. “Our common goal will be to strengthen the benchmark of the ACI Dealing Certificate, the ACI Diploma and the ACI Operations Certificate to the benefit of each individual but also for their employer and the whole financial industry.”
Professor Dr. Duo Steffens, Frankfurt School’s President and CEO, adds: “The new cooperation provides enormous potential for both of us but also for the whole industry. The financial markets are one of the outmost sensible industries on this planet – reacting immediately on news, either politically or economically driven or just by rumours. Our common intention is to have well-educated staff on the gearshift. Together we will use our theoretical and practical market experience not only offering quality proofed exams on a global treasury standard but also to provide career planning for individuals and their employer.”
Christoph Niggli, Head of Education Money Markets, Currencies and Commodities, Investment Bank Switzerland, UBS, chairs ACI’s Board of Education. He concludes: “Education is a key element for personal, but also for the employer’s, development. For many years, ACI offers to their members (mainly traders from Treasury departments within financial institutions) a certification programme which is largely and worldwide used.
“One of the main topics within the exams, for example the ACI Dealing Certificate, comprises the ‘code of conduct’. This, ‘The Model Code’, formulates guidelines, both technical and ethical, concerning the operations of the markets and professional activities of ACI members,” he adds. “Many headlines refer to “rogue trading” in some areas within banks. Luckily our traders were not involved in past scandals but they do have to persist in the daily challenges resulting from them. We, as ACI, are happy to offer such a certification programme which we consider to be a ‘must have’ for traders demanded by authorities in some regions. This should be considered as a ‘minimum requirement’ for trading in financial markets but also helping to raise ethical standards in our highly sensible markets.”