1. Introduction
ICMA’s Primary Market Certificate (formerly known as the IPMA Diploma) is a second level qualification intended for persons working in the origination, syndication and transaction management areas of investment banks or securities houses. It is also a valuable qualification for capital markets lawyers looking to expand their understanding of the workings of the primary markets and for those employed in institutions that may be looking to raise funds in the international capital markets.
The Programme is most suited to those in the early stages of focussing on primary market activities, but is open to anyone who would benefit from a more complete knowledge of the debt primary markets.
This unique certificate programme examines the entire life cycle of bond issuance, from considering the financing choices through to the closing of transactions in the marketplace. While the course examines the theoretical principles underpinning the markets and the instruments and financing techniques that are available, emphasis is placed on interpreting and using that knowledge in practical case studies.
In addition, due to the dynamic nature of the primary markets, the programme emphasises current market practice and much use is made of market practitioners to discuss key areas. Candidates who gain this qualification therefore will have all the requisite tools to add value now to their company’s activities in the Primary Markets.
As a second-level qualification the PMC syllabus requires that the candidate should already have some familiarity with:
• Fundamental numeric skills, the time value of money, PV, yields and yield curves • The main debt market sectors, products and key players
The academic content of the PMC is overseen by the ICMA Centre at the
University of Reading, England.
Accreditation
The ICMA Primary Market Certificate