Read more about the partnership between ACI FMA and Raiffeisen.
In the fast-changing world that we live in, it is paramount that financial market professionals enhance their knowledge and competence on a continuous basis, as the development of these markets constantly demands that highly skilled individuals can perform their roles in an efficient manner and follow good market practices.
In that regard, ACI Financial Markets Association (“ACI FMA”) and Raiffeisen Schweiz Genossenschaft (“Raiffeisen”) have established a partnership that allows professionals from this important Swiss-based bank to acquire further expertise on relevant topics for financial markets.
As a first step, staff members from Raiffeisen were able to train for the ACI Dealing Certificate New Version, an exam launched in April 2020 that covers areas such as Financial Markets Environment and Applications, Foreign Exchange, Rates and Derivatives.
After the training sessions were concluded, all candidates successfully passed this ACI exam, which clearly shows how deeply committed Raiffeisen’s staff were in this project that allowed the enhancement of their understanding of these topics.
Recently, and in order to demonstrate adherence and attestation to good market practices advocated by the FX Global Code, both institutions have also reached a long-term agreement that will grant access to Raiffeisen’s staff members to ACI FMA’s ELAC Portal, a web-based tool designed for learning, attestation and certification on industry Codes.
Therefore, on an ongoing basis, Raiffeisen’s users will now be able to ensure proof of adherence to the FX Global Code and demonstrate how its principles can be applied in a ‘real life’ environment, as ELAC includes market practice scenarios aimed at testing the practical implementation of those principles in their daily roles.
The tailor-made setup of ELAC for Raiffeisen is currently being organised, as the Portal advocates the principle of proportionality and allows total flexibility so that the specific requirements of each entity are met.
As referred by Michael Paprotta, Head of FX, Precious Metals, Banknotes Trading and Cash Supply at Raiffeisen, this is an important partnership for the bank as it “allows us to be in sync with the ever-evolving market and regulatory environment of the FX market ”.
On behalf of ACI FMA, our former Chairman Bruno Langfritz, who originated and led this partnership, mentioned that the Association is “extremely happy to have gained the confidence and support of Raiffeisen to its educational tools, as we are firm believers that continuous learning, formal testing and qualifications will reassure Raiffeisen’s senior management that their staff fully embed and are prepared with the appropriate technical knowledge and good market practices”.
Both entities will continue to look at ways to further develop this partnership, as they trust that sustained and ongoing education will always be essential for the development of competences of all financial market professionals.