All Courses
All courses currently offered by FIA Markets Academy.
Market Conduct Courses
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Initial Ethics Training
Initial ethics training is specifically designed for those who are new to the industry and recently registered with the National Futures Association (NFA). This courses uses case studies to highlight ethical and regulatory responsibilities, combining law, compliance, and sound judgment. It helps firms meet training requirements as mandated by the Commodity Exchange Act and NFA Rule 2-9. CONTINUE READING -
Periodic Ethics Training
The IFM's Periodic Ethics Training helps firms and registrants meet ongoing training requirements as mandated by the Commodity Exchange Act (CEA) and National Futures Association (NFA) Rule 2-9. This interactive training is built upon case studies that incorporate several categories of pertinent information including law, regulation, professional ethics and sound judgment. CONTINUE READING -
Anti-Money Laundering Compliance Training
This course provides a clear understanding of various money laundering techniques and their threats to the financial industry. Learners will gain a better understanding of the regulations designed to detect, monitor, and prevent criminal actions. Interactive scenarios are designed to help industry participants detect, prevent and respond effectively to attempts to launder money through their firms and the futures markets. CONTINUE READING -
Market Conduct Fundamentals
This course provides a high-level overview of prohibited and disruptive practices on futures and options exchanges. It helps market participants avoid potential exchange violations and fines and/or regulatory actions and civil penalties. This course is designed to help meet regulatory training requirements for direct market access participants.
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Safeguarding Customer Funds
This course has been jointly developed by NFA, FIA, and industry professionals to help market participants understand the safeguards in place to protect customer funds in the futures market. It is designed to meet Commodity Futures Trading Commission Rule 1.11 that mandates annual training for all finance, treasury, operations, regulatory, compliance, settlement, and other relevant officers and employees within the organization. CONTINUE READING -
Understanding & Avoiding Spoofing Behavior
Preventing manipulation of derivatives markets, and spoofing behavior, in particular, is a priority for both exchanges and regulatory authorities. This course draws on recent cases to cover the basics of spoofing and how to avoid activity that may constitute or appear to be spoofing behavior. It also provides guidance on what to consider when designing a supervision and compliance program. CONTINUE READING
Global Exchange Courses
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Exchange Trading & Regulatory Fundamentals for Electronic Traders
The training is designed to provide a better understanding of the basics of electronic trading including activities likely to draw attention from regulators. It also covers exchange rules most likely to impact traders such as pre-execution communications, cross trades, self-match trades, test trades, position limits and order-to-trade ratios. CONTINUE READING -
Rules & Regulatory Guidance for CME Group Markets
This course has been produced jointly by FIA and the CME Group to help market users understand and comply with some of the most important trade practice rules of the CME, CBOT, NYMEX and COMEX. Topics include wash trades, position limits, disruptive trading practices, block trades and pre-execution communications. CONTINUE READING -
Rules & Regulatory Guidance for ICE US
This course, produced jointly by FIA and ICE US, is designed to help market users understand and comply with some of the most important trading rules of the exchange. Content covers disruptive trading practices, wash trades, position limits, block trades, exchange-for-related-positions, and pre-arranged trades. CONTINUE READING -
Key Regulatory & Trading Requirements for Eurex
This course has been produced jointly by FIA and Eurex. The training provides an overview of select rules and regulations that govern the daily activities of Eurex market participants. For traders of Eurex contracts and their supervisors, this course covers the supervisory structure, the trader admission process, reporting obligations and off-book trading T7 Entry Services. CONTINUE READING -
Trade Surveillance & Regulatory Guidance for the Singapore Exchange
This course has been jointly developed by FIA and the Singapore Exchange to help market participants understand and comply with key trading rules. It is accredited by the Institute of Banking and Finance (IBF) for a total of 2.0 training hours towards SFA Continuing Professional Development. CONTINUE READING -
Key Features and Regulatory Framework of the London Metal Exchange
This course has been jointly developed by FIA and the London Metal Exchange to help familiarize new and existing LME market participants with key features. The course covers member types and privileges, prompt date structure, lending rules, market abuse regulations, reporting, and post-trade functions. CONTINUE READING
Operations Courses
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Give-Up Specialist: 5 Course Package
Enroll your team in all five Give-Up Specialist courses and save. The series includes Anatomy of a Futures Broker, both Give-Up Essentials courses, Average Pricing, and Navigating Give-Up Agreements. Participants who complete all five earn the FIA Markets Academy micro-credential. It’s a cost-effective way to train a geographically distributed workforce.
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Give Up Essentials 2: Troubleshooting Real-World Scenarios
Give-Up Essentials, the pre-requisite to this course, uses give-up trade flows to show how the process works when everything runs smoothly. This course examines problems that can arise during give-up trade processing. It identifies where failures occur and explores how problems can be resolved. CONTINUE READING -
Give Up Essentials
Whether you’re a customer or an employee at a broker, exchange, or CCP, understanding give ups and the complexities they add to the trade flow is essential. This online course illustrates how the introduction of give ups alters the trade flow for futures and options on futures. CONTINUE READING -
Average Pricing
This course provides a comprehensive overview of average pricing, including how and why futures and options trades are average priced. It explains how fund managers achieve fair and equitable distribution of trades among their customers by using average pricing or best fit methodologies. CONTINUE READING -
Navigating Give Up Agreements
This course provides an in-depth explanation of the different versions of the FIA International Uniform Give-Up Agreement, what it covers, clarifies the roles and obligations of each party, and illustrates the Give-Up Agreement workflow. Interactive scenarios offer practical ways to troubleshoot everyday issues. CONTINUE READING
Futures Operations Courses
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Clearing 101: Safeguards for the Futures Market
Whether you're a futures industry professional, commercial hedger, fund manager or professional trader, it is important to understand the critical role that clearing plays in reducing the risk of counterparty default, guaranteeing the financial performance of all contracts and safeguarding customer funds. CONTINUE READING -
Commodities 101: From Physical to Futures
Commodities 101 is a foundational course designed to introduce you to the world of commodities (both physical and futures) and how they're traded. This comprehensive introductory course demystifies the world of commodities by exploring their structure, market dynamics, key participants, and the tools used to manage risk and gain exposure. CONTINUE READING -
Swaps 101: OTC vs. Listed Derivatives
Swaps 101 is a foundational course designed to introduce you to the world of swaps, including both over-the-counter and listed derivatives. This comprehensive introductory course demystifies the world of swaps by exploring their structure, market dynamics, key participants, and the tools used to manage risk and gain exposure. CONTINUE READING -
Anatomy of a Futures Brokerage Firm
Anatomy of a Futures Brokerage Firm offers an inside look at how futures brokerage firms are structured. It explores the role and responsibilities of the Front, Middle and Back Offices, as well as the cross-functional teams—Legal, Compliance, Risk Management, and Financial Management that advise, monitor, and support them. CONTINUE READING
Get Smart Courses
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Transforming the Position Transfer Process
With the release of a new DMIST standard, the industry now has a framework to accelerate processing times, more efficiently collect the data needed to effect the position transfer and set the stage for automating the process. Representatives from brokerage firms, clients and clearinghouses share their insight on how clients, clearing members and clearinghouses can work together to streamline the Position Transfer process and reduce risk. CONTINUE READING -
Stablecoins Explained: Crypto’s Big Bang Moment?
For years, Wall Street banks kept stablecoins at arm’s length. But now, even the most conservative parts of traditional finance are starting to recognise their potential. It feels like a seminal moment, but, as always with technological innovation, there are risks and challenges and questions of hype vs reality. CONTINUE READING -
Improving the Timeliness of Give-Up Processing
How is the industry addressing friction points that cause delays in give-up processing? This webinar features members of the Derivatives Market Institute for Standards who have been actively implementing the 30/30/30 Standard. Representatives from brokerage firms and clients share how they identified and resolved issues causing processing delays, reduced risk and increased the percentage of trades in the right account on T+0. CONTINUE READING -
US Treasury Market Gears Up for Central Clearing
Banks, broker-dealers, asset managers and other participants in the US Treasury market are scrambling to comply with a regulatory mandate to step up their use of central clearing. The adoption of central clearing will require market participants to implement a host of changes to their processes, systems and counterparty relationships. CONTINUE READING -
Perpetual Futures Contracts
Long used offshore, this novel product has arrived in the US. First launched in 2016 by BitMEX, the crypto industry has popularised perpetual futures contracts in offshore markets with increasingly strong interest. Learn more about perpetual futures and why they are so popular.
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Books & Exam Prep
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Futures and Options
A "must read" for prospective and new participants in the derivatives industry as well as market regulators and other stakeholders who must build market knowledge. It serves as a valuable educational resource for the aspiring professional — whether from the buy or sell-side — and as a basic component in any personal finance library.
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Guide to U.S. Futures Regulation
A practical application of U.S. derivatives regulations that serves as desk reference and a study manual for the regulation portion for the Series 3 exam, and the Series 32 exam for current professionals of the UK & Canada who must meet U.S. proficiency requirements.
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Introduction to Derivatives
A basic guide for knowledge seekers wishing to understand the markets, players, products and regulatory structure. Our guide offers an overview on how markets work and how the products they trade are used to solve real-world problems. The guide includes a glossary of definitions and industry jargon. CONTINUE READING -
Series 3 PassMaster
Series 3 PassMaster is a 2-part exam prep software. The Tutorial is a "flash card" section that uses Q&A to test your knowledge by topic area and level of difficulty. After responding to a question, you receive instant feedback with an explanatory answer and rationale. The Exam Simulator offers an unlimited number of timed tests. It mimics the format of the Series 3 Exam with results scored like the actual test. CONTINUE READING -
Series 3 Exam Standard Set
Our most popular set helps build your confidence for test day! The set includes Futures and Options and U.S. Futures Regulation plus PassMaster online flash cards and practice exam. This blended learning set provides an excellent way to learn as well as test your knowledge and retention of important concepts and regulations. CONTINUE READING -
Series 3 Exam Basic Set
Whether you’re preparing for the Series 3 exam, building a career in the industry, or simply need a stronger grasp of the futures and options markets for your role, this two-book set is an essential resource. Futures and Options—written by market practitioners—blends theory with real-world insights, while U.S. Futures Regulation clarifies how derivatives regulations are applied in practice. CONTINUE READING
