CCS - Certified Clearing Specialist 2015 - Certificate Program
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CCS – Certified Clearing Specialist 2015 Certificate Program CAPITAL MARKETS ACADEMY
Certificate Program CCS –
Certified Clearing Specialist
Back office staff operate in a continually changing environment. Following the financial
crisis of 2008, regulators and policy makers have released a multitude of global regulatory
standards and jurisdictional rules, which are creating additional obligations for mid-back
office processes in many areas. The Clearing Obligation for OTC derivatives, more stringent
requirement on collateral and new reporting rules are only some of many concepts that
will define European clearing market structure and the way back office operations are run
in the future.
CONTINUAL PROFESSIONAL One program – two qualifications -Eurex Exchanges
DEVELOPMENT (CPD) In order to tackle the challenges -Frankfurt Stock Exchange/
The program has been approved for 32.5 CE involved and ensure smooth day to Irish Stock Exchange (ISE)
credit hours by the CFA Institute. Participants
can also claim CISI CPD hours.
day operations, clearing houses need -Eurex Repo
to warrant high qualification levels of -Eurex Bonds
DURATION
clearing member staff. Eurex Clearing -Securities lending
Five days, 09:30 –17:00 CET daily
plus examination.
thus requires all General and Direct -EurexOTC Clear IRS
Clearing Members to have at least
LOCATIONS
one Qualified Clearing Staff (QCS) Learning objectives
Deutsche Börse AG Deutsche Börse AG
U.K. Representative Office Mergenthalerallee 61
available during market-specific In the course of the program, partici-
11 Westferry Circus 65760 Eschborn business hours for each clearing pants will
London E14 4HE Germany license they hold. • get to know the current regulatory
United Kingdom
context and agenda within Europe
FEES
This course prepares participants for • get an outlook on upcoming market
EUR 3,200 (GBP 2,650) this demanding role, as it is specifically infrastructure changes
EUR 2,950 (GBP 2,450) for early bookings up
to six weeks before the start of the program designed to expand the delegates’ • explore the role and function of
WEB knowledge of clearing processes, the clearing house as a CCP
counterparty risk, margining, collat- • examine the different markets and
www.deutsche-boerse.com/ccs
eralization and regulation. major products which are included in
More information and
online registration:
the clearing service of Eurex Clearing
Course participants who pass the asso- • get an overview of delivery mana-
ciated examination will be granted gement for physical deliveries and
the title “Certified Clearing Specialist” netting types
DATES 2015 and qualify to register as QCS for • study the different risk management
all markets cleared by Eurex Clearing. methods: learn details about accepted
02.11.– 06.11.2015 (course in London)
15.12.2015 (next possible exam date) collateral, collateral processing and
Early booking discount until 21.11. 2015 Currently the following clearer test default management
23.11.– 27.11.2015 (course in Eschborn) modules are covered by the CCS • find out how transaction manage-
16.12.2015 (next possible exam date) examination: ment for listed derivatives works
Early booking discount until 12.10. 2015
• Basic Module
The final exam can be taken once a month
at all our representative offices. Please note
• Market Modules for:
that the exam can be taken in English or
German at both locations.
2Unit I Unit II Unit III Unit IV QCS – Qualified Clearing Staff 1
(1 day) (1 day) (2 days) (1day)
Regulatory Eurex Clearing Core clearing Transaction
landscape for fundamentals knowledge management
the clearing listed derivatives
business
Final CCS Exam CCS – Certified
Clearing Specialist
Preparation course Preparation course
QCS clearer test QCS & QBO
Basic Module clearer test Eurex
Exchanges
QBO – Qualified Back-Office Staff 2
1 QCS: Employees of General and Direct Clearing Members of Eurex Clearing AG can register as QCS for the respective market.
2 QBO: Employees of Non-Clearing Members trading on Eurex Exchanges can register as QBO.
Target audience to allocate their time according to their Exam
The qualification will be of particular needs. Participants can choose from Only participants who attend all
interest for employees of different dates to attend any of the units are allowed to take the final
• Clearing Members units. Each unit of this program can exam “Certified Clearing Specialist”.
-who run processes to clear and be booked separately. It is available in German and English.
settle transactions The exam is conducted electronically.
-who reconcile systems by checking Unit I provides fundamentals on It includes multiple choice and
that the data flows from the reve- the current regulatory landscape for open questions and covers all units.
nue-generating front office to the the clearing business in Europe. Participants are given 2 hours to
operations systems answer 150 questions which are
-who monitor the activity and reports Unit II gives an overview of the markets randomly picked out from a question
of daily transactions and maintain cleared by Eurex Clearing and provides pool. The pass mark is 75 percent.
accounts basic product knowledge which is re-
• employees of General and Direct quired for each market specific module Certification
Clearing Members of Eurex Clearing of the QCS clearer test. After passing the final exam, partici-
who are looking to attain funda- pants receive the title “CCS – Certified
mental knowledge of core clearing Unit III is a two-day session and also Clearing Specialist” and can register
functions and need to fulfill the serves as preparation course for for a Clearing Member to receive
requirements of Eurex Clearing to the Basic Module of the clearer test the additional title “Qualified Clearing
receive the title Qualified Clearing which is required for all candidates Staff” (QCS) or for a Eurex Non-
Staff (QCS) who need to register as Qualified Clearing Member as a “Qualified Back
• employees of Non-Clearing Members Clearing Staff for a Clearing Member. Office Staff” (QBO).
(NCM) trading on Eurex Exchanges
who want to get an overview of the Unit IV prepares for the clearer test
transaction management of Eurex Market Module “Eurex” using the
Clearing for listed derivatives and Eurex Clearing system in the simula-
need to fulfill the requirements of tion environment for practical case
Eurex Clearing to receive the title studies. Passing this Market Module Approved by:
Qualified Back-Office Staff (QBO) leads to the title “Qualified Back
Office Staff” for Eurex NCMs –
Program structure in combination with passing the Basic
The structure of this program accom- Module to the title “Qualified
modates busy professionals with its Clearing Staff” for GCMs/DCMs.
flexible schedule in order to allow them
3Agenda 2015
Unit I Unit II Unit III Unit III Unit IV
Regulatory land- Eurex Clearing Core clearing Core clearing Transaction manage-
scape for the clearing fundamentals knowledge knowledge ment listed derivatives
business
QCS Basic Module QCS Basic Module QBO preparation
preparation course preparation course course
Overview of the regulatory Role of a clearing house Clearing Members Understanding risk Product knowledge
agenda • Functions of a clearing • Clearing licenses • What are the main types derivatives
house • Requirements of risk?
Background and motivation Transaction management
• Bilateral vs. CCP clearing • Types of clients • Which types of risk occur
(e.g. flash crash, G20, crisis) listed derivatives
• Concept of novation and • Outsourcing of clearing during the clearing process?
European financial framework open offer functions Eurex Clearing system
Risk management
training
Overview of regulatory Overview cleared Clearing models – • Risk-based Margining
initiatives markets and products Client Asset Protection • Portfolio-based margin Trade management
• G20 at Eurex Clearing approach (Prisma) • Trade transfers
Delivery management
• Committee on Payment • Eurex Exchanges • Trade adjustment
• Overview and Gross Delivery Collateral management
and Settlement Systems • Frankfurt Stock Exchange • Give-up/ take-up
Management System • Eligible collateral
(CPSS) and International • Eurex Bonds • Close-out
• Trade day and settlement • Collateral reports
Organization of Securities • Eurex Repo (GC Pooling)
day netting • Relevant windows Eurex Position management
Commissions (IOSCO) • Securities lending
• Settlement day netting Clearing GUI • Account structure
• Basel III • EurexOTC Clear
Options for Eurex Repo and • Collateral processing • Position transfer
• Dodd Frank
Eurex Bonds • Xemac® (re-use of collateral) • Exercise /assignment
• Regulation National Market
• Default settings by Clearing • Notification /allocation
System (RegNMS) Default management
Members • System functionalities
• European Market Infra- • Default Management
• Late delivery handling
structure Regulation (EMIR) Committee Risk management (system-
• Corporate action processing
• Capital Requirement • Default Management based risk control)
• Reporting
Directive (CRD IV) Process • Pre-trade risk controls
• Market in Financial Instru- • Post-trade controls
ments Regulation / Directive
Collateral management
(MiFIR /MiFID)
• Specific equity collateral
Governance aspects of assignment
Frankfurter Wertpapierbörse
and Eurex AG
Exchange rules and clearing
conditions
Tutors Program management
Patrick Deierling is senior expert at Susanne Panzer has been active as Sarah Taines
Eurex Clearing and responsible for a trainer for Xetra trading, clearing Program manager at
regulatory compliance. and settlement for more than 10 years. Deutsche Börse Group
Christian W. Jennes has more than Ann-Kathrin Schleicher started at Deutsche Börse AG
20 years of experience in trading, risk Deutsche Börse in 1997 where she Mergenthalerallee 61
and asset management. sets up and runs courses on German 65760 Eschborn
cash market subjects. Germany
Matthias Luck is specialized in
derivatives, structured products and Catrin Schneider has more than T +49-69-211-1 38 89
risk management. 10 years of experience as a trainer F +49-69-211-1 37 63
for Eurex trading and clearing. sarah.taines@deutsche-boerse.com
Paul North is an independent deriva-
tives tutor, with experience of working www.deutsche-boerse.com/cma
and teaching in the derivatives industry
at a variety of levels.
© Eurex, March 2015
Published by Eurex Zürich AG www.eurexchange.com
Eurex Frankfurt AG Löwenstrasse 3
Order Number
Mergenthalerallee 61 8021 Zurich
E2E-176-0115
65760 Eschborn Switzerland
Germany 764 ARBN Number
Eurex Frankfurt AG ARBN 100 999 764F +49-69-211-1 37 63
Eurex Frankfurt AG, Capital Markets Academy,
Mergenthalerallee 61, 65760 Eschborn, Germany
Certificate Program
CCS – Certified Clearing Specialist
Registration
Personal details
NAME FIRST NAME
PLACE AND DATE OF BIRTH
Invoice address
STREET / POB
POSTCODE / TOWN
PHONE / FAX E-MAIL
The invoice will be sent six weeks prior the start of the certificate program.
Professional experience
YEARS IN TOTAL YEARS IN THE FINANCIAL SECTOR
Course details
Unit I Unit II Unit III Unit IV
London 02.11. 2015 03.11. 2015 04.+ 05.11. 2015 06.11. 2015
Eschborn 23.11. 2015 24.11. 2015 25.+ 26.11. 2015 27.11. 2015
Declaration of consent
I would like to receive information on the current training courses offered by Capital Markets Academy, Deutsche Börse AG.
I hereby expressly agree to the terms and conditions. I understand that I have the right to revoke the contract within two weeks,
insofar as I am not a commercial customer (Kaufmann) within the meaning of the German Commercial Code (HGB).
If you require hotel accomodation, please contact your travel agent. We regret that we cannot provide a booking service. In the event
that a seminar is cancelled for any reason whatsoever, Eurex Frankfurt AG will not reimburse any travel/accommodation costs.
PLACE / DATE STAMP / SIGNATURE
NAME IN BLOCK LETTERS
5Terms and conditions
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