The FASTEST way to learn the dynamics of the FX market
For over 30 years the ACI FX Dealing Simulation Course, created and run by ACI Australia, has been providing new participants to the FX market with a unique and unparalleled opportunity to gain a strong understanding of the fundamentals of the industry in a matter of days.
We’ve been fortunate to host many courses here in the UK over the years and we are delighted to announce that it is returning again this autumn. Why should you consider being a participant or sending newer members of your team on the course? Here’s FIVE reasons!
1. Access to presenters’ invaluable wealth of knowledge and extensive international industry experience
The ACI FX Dealing Simulation Course continues to attract the highest quality speakers from segments of the industry. The presenters are current and past market participants, who each have in excess of 30 years’ industry experience. All this knowledge will be at your fingertips.
2. Personalised Performance Report
At the end of the program, a detailed report is completed by the presenters for each individual. The report highlights delegate’s strengths and overall commitment to the program, providing invaluable insight to management, around risk control and conduct.
3. A perfect networking opportunity for the delegates
The ACI FX Dealing Simulation Course will allow you to establish relationships and form alliances early on in your career (with not only other course delegates but also with key active industry players and the course presenters). Such relationships are invaluable to both the participant and their employers.
4. A comprehensive course structure reflective of today’s world
The four day residential course has evolved as markets have evolved to continue to provide practical, relevant experience.
The course is fully electronic with the broking desk removed and replaced by an extra liquidity provider on the electronic trading system to boost liquidity there, as well as an additional CLOB to help teach VWAP, as well as TWAP, execution techniques. We have also dramatically increased the amount of customer business the teams see, via RFQ and the chat mechanism in the form of orders.
We continue to use an RFQ function as we believe this provides detailed insight and education into the processes behind the technology, so that delegates understand how the price is formed, the different ways to manage risk, and the challenges of quoting prices to clients in even the toughest circumstances. This has seen more delegates attend the course from middle office, compliance and surveillance functions, as well as from technology teams to complement delegates traditionally, and still, sent from the front office.
The course fully recognises that much of the market today benefits from greater automation however we feel there is still real value in providing that background knowledge as to what happens behind the machines. Likewise, while we understand that algos squeeze the time horizon for trading news events, it is important delegates understand why and how the market moves. Therefore at the heart of the course remains the principle of learning through experience. While we have reduced the emphasis on P&L in recent years, it is still a useful tool for quantifying the difference between a proactive and passive response to events, flow, and other information.
Ethical debates have been added to the agenda to ensure that delegates understand key issues still facing the FX industry and the grey areas that are inevitable in a principles-based document like the FX Global Code. These debates, which use real-life cases to provide context, are on subjects such as the repapering of trades; best execution; last look; and stop-losses. There are also ongoing discussions around incidents that arise during the live dealing sessions on the course.
The Chat Room is used for customer business, options execution and for market colour. This has proven very useful on the courses to help put FX Global Code principles into action and to provide discussion points for the post-session brief.
Teams may also be required to use technical analysis to help with trading, options decisions and communication with clients to pass trading ideas and market colour.
The teams are now made up of two or three persons, with three principal roles
1) Liquidity provider and execution trader
2) Sales function and options trader
3) Technical analysis
Brought together all of the above course features and characteristics help provide participants with the necessary grounding in risk management and liquidity expected in a modern market structure framework.
5. Don’t just take our word for it!
Here’s a few of the comments shared on LinkedIn after the 2022 course run in the UK:
Thank you Chris and team for such an excellent week! Hard work but I thoroughly enjoyed myself, learnt valuable leasons and built some great relationships. Highly recommend to anyone in the FX industry whether you have experience in the dealing room or not.
I attended ACI Dealing Simulation Course in London last month. Four full days filled with interesting lectures, dealing simulation – sessions and networking with fellow financial professionals! Excellent and educational course – I highly recommend!
Well done Chris, Colin and team for keeping this amazing course running!
Early Bird Registration (apply by 20th October 2023)
£3,050 ACI Members
£3,550 ACI Members