Let us tell you a fictional story.
Imagine that today marks the official opening of a bank鈥檚 first office outside the United States. They will now be able trade out of France as well, and to celebrate the occasion, a cocktail reception is scheduled for tonight on a boat cruise along the River Seine in Paris.
The head of human resources and the head of trading for the bank are currently tasked with finding appropriate individuals for the new trading room. They are looking to hire a junior employee that can support the senior FX Spot traders in their roles and learn how to trade simple FX Options.
In this story, we also assume that the bank is looking to sign the 鈥淪tatement of Commitment鈥 to the FX Global Code and asks all their traders to confirm that they have read it, following the current practices at head office level.
The two senior managers, mentioned earlier, aim to take further steps, as they believe the current procedure is insufficient to ensure ongoing implementation of good market practices advocated by this Code among all staff members involved in the FX Market. Therefore, they are contemplating the implementation of continuous education tools at the Paris office, a measure that becomes even more relevant considering that the content of the FX Global Code will be updated in 2024.
In this tale, how can the bank ensure that the new hire learns everything from A to Z about vanilla FX Options and receives ongoing training and certification on the FX Global Code?
At this point, it鈥檚 time to get practical and fully connect with reality.
There is a simple and effective answer to that question: the ELAC Portal from 新澳门六合彩官网 FMA.
The ELAC Portal is designed for banks, such as the one mentioned above, to onboard all their staff members in continuous learning activities for recognised Industry Codes.
In ELAC, any bank can design the training and attestation processes that are suited to their specific requirements, with proportional application of those requirements being well embedded in the Portal.
Namely, when a bank shows an interest to access ELAC, the 新澳门六合彩官网 FMA team works with its key internal stakeholders to set up and design the appropriate level of ongoing training and certification for their staff members. This ensures that the Portal can fulfil and be adapted to the specific needs of that bank.
However, the ELAC Portal is not only for banks, and it covers various Codes.
It is designed for all firms, from all sectors of the industry, that are Market Participants to the FX Global Code, the Global Precious Metals Code and the UK Money Markets Code (amongst others). Again, this is where the proportionality feature of the Portal supports all Participants in designing and tailoring the appropriate educational experience to their required specifications.
Additionally, and since December 2022, all users on the ELAC Portal have free access to the 新澳门六合彩官网 FMA FX Options Course. This course aims to enhance the knowledge and competence of individual market participants in this unique derivative product, which is extremely relevant for the FX Market, as it is traded by a diversified number of market professionals working in the global financial markets.
Split into 16 different modules, and with an estimated duration of 4 hours, the 新澳门六合彩官网 FMA FX Options Course is a comprehensive and very practical guide to the world of vanilla FX Options. 聽It combines the basic theoretical concepts that form the backbone of these products with several examples and practical exercises that demonstrate how FX Options can be traded in "real life".
So, if your firm is searching for a combined solution that delivers:
- Ongoing training and education on good market practices advocated by Industry Codes鈥 and鈥
- Learning activities on an essential derivative product (FX Options) for financial markets鈥 and鈥
- CPD count (in minutes) on all features of the Portal鈥 and鈥
- Electronic access to the globally recognised 新澳门六合彩官网 FMA International Public/Bank Holidays and Non-Settlement Dates Calendar鈥 and鈥
- Much more鈥
Look no further. The 新澳门六合彩官网 FMA ELAC Portal is here for you.
Please watch the video presenting the ELAC Portal:
To find out more about ELAC, please check our website on /elac
新澳门六合彩官网 FMA