Первый съезд ACI Russia – The Financial Markets

AssociationМосква, 31 марта 2005 года

http://ACIRussia.narod.ru

Godfried De VidtsPresident

ACI – The Financial Markets Associationpresident@aciforex.com

1st AGM of ACI Russia

What is ACI ?

Founded in Paris in 1955 as Association Cambiste International

Initially aimed at members of the FX & Money-market community

Name changed in 1995 to ACI – The Financial Markets Association

Largest trade association in the wholesale financial markets

In excess of 13,000 members - national associations in 64 countries

We celebrate 50 years in Sweden (26/28 May) and in Paris (28 Oct)

Main Committees and ServicesCommittee for ProfessionalismCommittee for Professionalism

Market and Regional Representatives

The Model Code – Arbitration – Dispute Resolution – Lobbying

Board of EducationBoard of Education

International and Professional Staff representation

Management, Promotion Quality-Control of Education programme

€€uribor ACI Committeeuribor ACI Committee

Part of the continued construction and development of the financial markets in Europe.

Participation in management of the Euribor and Eonia indices

S.P.G.S.P.G.

Special Projects Group , world-wide representation and initiatives

The Model Code

Launched at ACI’s Congress in Paris in 2000

The guideline to best market practices globally

Updated regularly by the CFP to reflect market changes‘Soft Copy’ on the ACI website amended as required with the hard-copy version republished every 3 years

A growing number of countries have accepted The Model Code in its entirety or in part - copy for you

Current work : looking at Central Counterparties in light of the CPSS/IOSCO recommendations

ACI Education ProgrammeAnnmcgoff@aol.com

ACI Dealing Certificate:ACI Dealing Certificate:

Basic Interest rate Calculations, Cash Money Market (to include calculations), Foreign Exchange (to include calculations), Forward-Forward/Money Market, Futures/FRA’s/Swaps, Options, Principles of Risk, The Model Code

ACI Settlements Certificate:(under review)ACI Settlements Certificate:(under review)

Risk Environment & Control, Payments & Confirmations, Derivatives, Money Markets, Foreign Exchange, Market Conventions, Settlements & Accounts, Documentation

ACI Diploma:ACI Diploma:

Foreign Exchange, Money Markets, Foreign Exchange , Derivatives, Short Term Interest Rate Derivatives, Repos, Capital Markets & Long Term Interest Rate Derivatives, Risk Management, Fundamental & Technical Analysis, Foreign Exchange Calculations, Money Market Calculations, Short Term and FX Derivatives Calculations, Repo Calculations, Capital Markets Calculations

Target Groups

ACI Dealing Certificate:ACI Dealing Certificate: New entrants to the market

Traders with some experience

Financial analysts

Staff working for vendors e.g. Reuters, EBS, Bridge, Cognotec etc

ACI Settlements Certificate:ACI Settlements Certificate: Operations & middle office personnel

Traders

ACI Diploma:ACI Diploma:

Experienced traders and middle management

Additional training by ACI Australia: simulation course for FX

Board of Education advisory role

0

100

200

300

400

500

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700

DealingCertificate

ModelCode

SettlementsCertificate

ACIDiploma

WMBA

2000 2001 2002 2003 2004

Total Exam Numbers 2000 - 2004

€€uribor ACI Committeeuribor ACI Committee

Initiative started with the creation of the €€

MMLWG (money market & liquidity working group)

Derivatives working group

STEP working group

EU Commission

Work with Central Banks, Regulators, European Banking

Federations (Euribor and Eonia swap index and the

European Repo Council Eurepo fixing), other Associations

Export our experience and knowledge to others (Gulf States, Africa)

European Repo CouncilEuropean Repo Council

ISMA sponsored ( merger into ICMA !)

Basle 1 & 2

From unsecured to secured money markets

Growth in European Repo Markets

Dec 2002 = €€ 3,377 billion

Dec 2003 = € 3,788 billion€ 3,788 billion

Dec 2004 = € 5,000 billionDec 2004 = € 5,000 billion

4 th European Repo Seminar joint initiative from ISMA & ACI : 4 th European Repo Seminar joint initiative from ISMA & ACI :

15 & 16 Nov 2005 Milan hosted by Banca Intesa 15 & 16 Nov 2005 Milan hosted by Banca Intesa

Members of both associations get discount , book early !Members of both associations get discount , book early !

Communication with MembersACI BriefingACI Briefing

Published on behalf of ACI by P & L Publications

Six issues published annually

Industry information plus news from Associations and Committees

Distributed to all members of ACI

ACI Website – www.aciforex.comACI Website – www.aciforex.com

Current postings of press releases, opinions, etc.

Information on education, global events and national associations

Updated version of The Model Code available on-line for easy access

ACI in the Future

Excom looking at new Business Plan

Increase communication both internally and externally

Monthly letter from President - information

Increase lobbying activities

World-wide conferences Basle 2 - Brussels October 7 th

Respond to suggestions and consultations from Central Banks, Regulators,

financial institutions and market participants

ACI Russia Hard Currency Ruble Project = ACI has always helped

emerging markets as we promote open markets as the best way forward for economic growth - make Ruble convertible by 2007

Adopt Model Code = acceptance by ACI community as prove of professionalism

Open communication with your Central Bank and regulator

= use the Euribor ACI example

Inform your members of Education = ACI Foundation can give financially support to individual members

Join the European education events - you will meet your counterparties - they want to meet you too !!!!!!