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Introduction to ACI FX Global Code Certificate Exam

The ACI FX Global Code Certificate Exam is the new exam version that has replaced the well known ACI Model Code exam (3I0-002). As Model code exam was retired in 2017, this document will only focus on the ACI FX Global Code Certificate Exam.

The ACI FX Global Code Certificate Exam tests the comprehension of the six topics and 55 principles set out in the Global Code by a person and is an excellent first step in demonstrating compliance with the new Code and a possible differentiator in terms of career advancement. The program is designed for market participants (as specified by the FX Global Code), including buying and selling groups, intermediaries, regulators and central banks, and is applicable to individuals engaged in front-end trading, middle-class, working, compliance and risk functions.

This certification aims to ensure that market participants operate to the highest standards of ethical conduct and best market practices. This Credential is an exemplary first step in demonstrating conformity to appropriate competent authorities with the latest Global Code and a potential differentiator in terms of ‘Code compliance' and career growth.

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How to study the ACI FX Global Code Certificate Exam

In an approved Test Centre, all ACI examinations are delivered electronically in a regulated environment. The ACI Financial Markets Association is an examination body and third parties, such as training firms, business schools and authors, provide resources for exam preparation. Syllabus, sample questions and other resources could be found at the ACI's official website. Practice can be improved if FX Global Code practice exams are taken before apperaing for the exam. Refer to the links below to access them. Students are highly encouraged to access the ACI Accredited Trainers section from the links down below as they are very helpful when it comes to exam preparation.

Syllabus Sample Questions ACI Trainers

ACI 3I0-002 Exam Syllabus Topics:

SectionObjectives
Topic 1: Foreign Exchange and Money Markets- FX instruments
  • 1. Spot and forward FX
    • 2. FX swaps
      - Money market instruments
      • 1. Certificates of deposit
        • 2. Deposits
          Topic 2: ACI Model Code of Conduct- Market practices
          • 1. Dealing standards
            • 2. Confidentiality rules
              - Ethics and professional behavior
              • 1. Code of conduct principles
                • 2. Conflicts of interest
                  Topic 3: Settlement and Operational Risk- Settlement processes
                  • 1. SSI usage
                    • 2. Payment vs delivery mechanisms
                      - Operational controls
                      • 1. System access controls
                        • 2. Risk management principles
                          Topic 4: Financial Markets Environment- Market conventions
                          • 1. Settlement conventions
                            • 2. Day count conventions
                              - Market participants and structure
                              • 1. Interbank market operations
                                • 2. Banks, brokers, and counterparties

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