The World Federation of Exchanges to Create New Educational Certification for Market Infrastructure
London, May 4 – The World Federation of Exchanges (“The WFE”), the global body for exchanges and CCPs, today announced the creation of a new Market Infrastructure Certificate (MIC) programme, the first of its kind, which is aimed at educating the next generation of financial services leaders globally.
The WFE has chosen Bayes Business School as the university educational partner for the programme. The MIC programme, which is the only one of its kind, will be purpose-built to serve the learning needs of all senior managers and mid-career professionals who need to engage with, and understand, the functioning and role of the organisations that underpin public markets. It’s expected to support professionals at central banks, buy-side and sell-side firms, exchanges, clearing houses and regulatory bodies.
The MIC will operate a blended learning approach, with both online and face to face elements, including two residential weeks: one at Bayes in London with teaching by faculty and the other at a WFE member for an industry immersion experience. The MIC will be an accredited programme and successful participants will obtain from Bayes Business School a post-graduate certificate worth 60 credits upon completion.
The programme will consist of online webinars covering the theory of the core principles, case-based examples and a mix of academic and industry leader led sessions. The online component will include recorded sessions which participants can access at a time that suits them and a series of live webinars which will be highly interactive.
The taught modules will be:
- Module 1 – Payments and Market Infrastructures,
- Module 2 – Exchanges, Asset classes and Market Micro-Structure,
- Module 3 – Regulation, ESG and Ethics
- Module 4 – Industry Project
To register interest or to receive updates about the programme please email [email protected]. Applications will open later this year.
Nandini Sukumar, Chief Executive Officer of the WFE, said: “This programme is designed to equip any mid-career professional with an understanding of market infrastructure, the vital industry that sits at the centre of financial markets, and the pillars that underpin public markets everywhere. The programme is designed to complement a traditional capital market course and will be a mark of excellence for professionals around the world. We are delighted to partner with Bayes, who demonstrated a deep breadth of knowledge on the issues that are relevant to today’s market infrastructures.”
Professor Andre Spicer, Dean of Bayes Business School, said: “Financial market infrastructures are changing rapidly. The MIC programme will give financial professionals cutting edge skills and insights to navigate these changes. The programme will bring together our world class faculty at Bayes with top professionals in the field. It will create leaders who not only have a depth of knowledge but have the breadth which is required. I am sure the programme will be a springboard for the leaders who will transform the sector in years to come.”
About the WFE:
Established in 1961, the WFE is the global industry association for exchanges and clearing houses. Headquartered in London, it represents around 300 market infrastructure providers, including standalone CCPs that are not part of exchange groups. Of our members, 34% are in Asia-Pacific, 45% in EMEA and 21% in the Americas. WFE’s 91 member CCPs collectively ensure that risk takers post some $1.3 trillion (equivalent) of resources to back their positions, in the form of initial margin and default fund requirements. WFE exchanges are home to 57,656 listed companies, and the market capitalization of these entities is over $101.17 trillion; around $146.29 trillion (EOB) in trading annually passes through WFE members (at end 2022).
The WFE is the definitive source for exchange-traded statistics and publishes over 350 market data indicators. Its free statistics database stretches back more than 40 years and provides information and insight into developments on global exchanges. The WFE works with standard-setters, policy makers, regulators and government organisations around the world to support and promote the development of fair, transparent, stable and efficient markets. The WFE shares regulatory authorities’ goals of ensuring the safety and soundness of the global financial system.
With extensive experience of developing and enforcing high standards of conduct, the WFE and its members support an orderly, secure, fair and transparent environment for investors; for companies that raise capital; and for all who deal with financial risk. We seek outcomes that maximise the common good, consumer confidence and economic growth. And we engage with policy makers and regulators in an open, collaborative way, reflecting the central, public role that exchanges and CCPs play in a globally integrated financial system.
About Bayes Business School:
Bayes Business School (formerly Cass) is a leading global business school driven by world-class knowledge, innovative education, and a vibrant, inclusive community. The School has been at the forefront of business education for more than 50 years, developing leaders who help businesses thrive through change and uncertainty.
Located in the heart of one of the world’s top financial centres, the School has strong links to both the City of London and the thriving entrepreneurial hub of Tech City.
The faculty members are experts in their fields, producing cutting-edge research with real-world impact. The last Research Excellence Framework results assessed 92 per cent of its research to be world-leading or internationally excellent.
The School is a signatory of the Principles of Responsible Management Education (PRME). It is home to the renowned Centre for Banking Research, the ETHOS Centre for Responsible Enterprise, and the Centre for Charity Effectiveness, one of the UK’s leading non-profit and philanthropy centres.
The School educates nearly 5,000 students each year on globally renowned courses across all levels of study including undergraduate, postgraduate and Executive Education. On graduating, students join a strong alumni community of 50,000 from 160 countries.
The new name Bayes Business School replaces Cass Business School. In June 2020, there was increasing awareness of the links between Sir John Cass and the slave trade, which made the School, and its stakeholders, reflect on whether such a link was consistent with the School’s values. The School decided that it should change its name and increase its focus on diversity, equity, and inclusion. Read more about Diversity, Equity, and Inclusion work at Bayes.
The School had carried the Cass name between 2002 and 2020 after a donation from the Sir John Cass Foundation, an educational charity which has now been renamed The Portal Trust.