Profit & Loss understands that ACI UK is working with Corellian Trading Academy to pilot a two-day training programme on the FX Global Code of Conduct. At the end of the programme delegates will have the option to take the ACI Global Code Certificate examination, which was launched by ACI globally in May 2018.
The new course will be led by Darryl Hooker, a long standing ACI UK executive committee member, member of the ECB FX Working Group and a participant in the Global Foreign Exchange Committee. Hooker will be joined by FX industry experts from the Corellian Training Academy, a training group that is part of the Corellian Global Investment firm set up by former FX traders Graeme King and Peter Wells. The firm uses a stable of trading course mentors for its courses, including Peter Allington, formerly of Standard Chartered; Maurice Pommery, formerly of UBS and Dresdner; Derek Shewring, last at Bank of Montreal; former JP Morgan trader Chris Lloyd, Helen Culverhouse, former FX trader at Standard Chartered; and Richard Adcock, formerly of HSBC, UBS and Brevan Howard. The Corellian team also now includes former Barclays trader Chris Ashton who recently joined the firm after being acquitted of FX market manipulation by a New York court last year.
“ACI has a long and proud history of promoting best practice through its Model Code which forms the foundation of the FX Global Code,” says Sue Attwood, president of ACI UK. “By leveraging ACI’s unrivalled knowledge and expertise we are seeking to deliver a course that will offer our members tangible benefits as their institutions seek to further embed the Code in their businesses.”
The course will cover the FX Global Code’s principles and associated industry best practices, including compliance and adherence requirements, as well as associated regulatory body expectations. This will lead to the optional ACI Global Code Certificate exam which provides a recognised qualification and attestation to the delegate’s Code knowledge and understanding.
The course syllabus is structured around seven key elements that form the basis of the ACI exam. These are the development, basis and application of the Code and the six leading principles that form it. The style of teaching is interactive and aims to provide delegates with practical learning takeaways to apply the Code in their day to day roles. Day One will discuss the shift of regulators towards personal accountability, leading to development of the Code, Ethics, Governance and Execution aspects of the Code, while day two covers the remaining three core principles: Information Sharing; Risk Management and Compliance; Confirmation and Settlement. The remainder of day two involves preparation and practice for the ACI Global Code examination (for those who are planning on sitting the exam).
ACI UK says it is offering “a substantial discount” to participate in the pilot session for this new course at £400 for current ACI UK members and £600 for non-members with an additional £250 for the ACI Global Code examination. The pilot session is planned for 3 and 4 June with other course dates to follow, although in the pilot the Global Code exam will be taken on a later date at an authorised test centre.