A key to professional recognition

In partnership with the Australian Financial Markets Association (AFMA), our Financial Markets Certificate provides a benchmark industry-based qualification.

This course is for:

  • financial markets professionals who require accreditation and either want to learn more about finance or are interested in pursuing more senior roles
  • individuals who do not work directly in finance but who require financial markets knowledge and skills.

If you do not work for an AFMA member firm, you must have at last two years’ professional work experience or an undergraduate degree in order to apply. You can enrol in one or all of the six units.

Key course details

Study options

Part-time

Online

Duration

6 weeks (per unit)

8 months (complete program)

4–6 months (with RPL)

Fees

General public

$1540 (per unit)

$6160 (complete program)


AFMA member firms

$1375 (per unit)

$5500 (complete program)

At the end of the program, participants will be able to:

  • critically assess the functions of financial markets and their environments to evaluate the implications for all relevant stakeholders
  • analyse financial market products, their relevance, and how to execute transactions in accordance with relevant regulation and within a risk management framework
  • evaluate ethical issues and develop relevant actions using the AFMA ethical decision-making framework
  • apply skills in a specified product area, selected from debt, energy or foreign exchange
  • interact appropriately with clients and colleagues by using effective communication skills.

There are six terms per year, and each of the six units (three core units and three elective units) are offered each term.

The minimum estimated workload for each unit is 75 hours. This estimate includes time spent completing unit readings and working on assessments. Studying two units simultaneously is not recommended.

You must complete four units (three core units and one elective unit) sequentially, over the course of four terms and within 18 months in order to qualify for the Financial Markets Certificate and apply for your accreditation. We cannot issue the certificate if this timeframe is exceeded unless an exception is approved by the program director.

Units must be taken in the following order:

  1. Financial Markets Concepts
  2. Financial Markets Transactions
  3. Risk Management Principles
  4. Your choice of elective.
Core modules

You will need to complete all three core modules.

1. Financial Markets Concepts

This unit provides a broad overview of the Australian ‘over-the-counter’ and exchange-traded financial markets. It introduces financial market sectors, participants, and the economic environment. Participants will assess how the Reserve Bank of Australia’s monetary policies and the business cycle affect the money, bond, and FX markets.

Leading economic indicators and their effects on economic output and financial markets are also examined. Participants will analyse longer-term macroeconomic developments and their effect on financial markets such as inflation targeting and quantitative easing.

Download Financial Markets Concepts unit outline PDF.

2. Financial Markets Transactions

This unit provides an overview of the financial products traded in financial markets.

Participants will:

  • identify the underlying key features of products, who uses them and how and why they are used.
  • examine the deal lifecycle of a financial transaction to gain an appreciation of how to execute transactions and to recognise that institutions have their own specific requirements.
  • review, through the lens of regulatory frameworks, ongoing requirements of a general nature that govern how market participants should conduct themselves.

We evaluate issues using professional codes of conduct and ethical principles.

Download Financial Markets Transactions unit outline PDF.

3. Risk Management Principles

This unit examines the risk landscape of financial markets in Australia and the principles that influence how this risk is managed.

Participants will:

  • evaluate ethical issues and apply the AFMA professional code of conduct and ethical decision-making framework to develop suitable actions.
  • examine the principles and practices used by institutions to manage financial market risks, and also the risk management services provided to clients by financial institutions.

This unit will outline the global risk management frameworks for banks and securities firms, and consider the risk management process defined in the international risk management standard and its application to financial markets and the risks arising in the deal lifecycle. Participants will discuss the controls used to manage these risks, including the client suitability framework applied by financial institutions to assess and manage clients.

Download Risk Management Principles unit outline PDF.

Elective units

You will need to select one of the following three units to complete.

Debt Markets

This unit provides the foundational knowledge and skills required to work effectively in debt financial markets, within both regulatory and organisational requirements.

You will be equipped with an understanding of:

  • how debt markets operate
  • the primary debt products and how they are used by market participants
  • the processes for developing risk management strategies, pricing transactions, and managing trading exposures.

Participants will learn to evaluate ethical issues and apply the AFMA professional code of conduct and ethical decision-making framework to develop suitable actions.

Download Debt Markets unit outline PDF.

Energy Financial Markets

This unit examines Australian power markets. The unit describes:

  • the establishment and development of the national physical electricity market in Australia
  • the resultant development of a financial market to manage the risks faced by its participants
  • the different financial market products available, along with their use and applications.

This unit includes an exploration of the gas and environmental markets in Australia. It also examines changes occurring in the local power industry, pricing benchmarks and trading, and the impact of renewables.

Participants will learn to evaluate ethical issues and apply the AFMA professional code of conduct and ethical decision-making framework to develop suitable actions.

Download Energy Financial Markets unit outline PDF.

Foreign Exchange Markets

This unit provides participants with a core framework of knowledge of the functioning of the foreign exchange (FX) market, the fundamental trading, advising and risk management skills.

The unit outlines:

  • the structure of the FX market
  • the pricing and usage of various FX instruments
  • strategies to manage FX exposures and provide appropriate advice to clients
  • developments in global FX markets, including new global principles of good conduct in the foreign exchange market.

Download Foreign Exchange Markets unit outline PDF.

Unit content is available on our custom-built online learning platform. You will have access to discussion forums where you can ask facilitators questions throughout the term.

Assessments include:

  • online quizzes
  • online participation
  • short answer questions/exercises
  • a report/case study.

An ethics component is incorporated into the core units Financial Markets Transactions and Risk Management Principles, as well as each of the elective units.

Upon successful completion of the program, participants will receive their Financial Markets Certificate, a digital microcredential issued by Macquarie University.

This is a key step toward gaining your AFMA accreditation, or a Macquarie University postgraduate degree.

Pathway to AFMA accreditationAFMA logo

Participants from AFMA member firms who successfully complete the Financial Markets Certificate will satisfy the education precondition for AFMA accreditation.

The next step is to contact AFMA and apply for AFMA Accredited Status (member firm endorsement required).

Soon after you receive your final results from Macquarie Business School, AFMA will communicate with all eligible individuals regarding next steps in the application process.

If you do not hear from AFMA within 10 working days of your results being released (and you believe you are eligible), contact education@afma.com.au.

Operations accreditation

If you work in an operations role for an AFMA member organisation you will be eligible to apply for AFMA Accredited (Operations) Status (member firm endorsement required).

To obtain this status, you are only required to complete the three core units with Macquarie University.

Note: the Financial Markets Certificate will only be issued after completion of four units (three core units and one elective).

For further enquiries, or to commence the application process, contact education@afma.com.au.

Pathway to Macquarie postgraduate studies

The Financial Markets Certificate program provides partial credit toward our Graduate Certificate of Finance and, by extension, the Master of Applied Finance.

Each successfully completed unit is worth five credit points (cp) which means you will earn 20cp overall for the certificate.

View our postgraduate finance courses:

Timetables and registration

We have designed this program to suit busy professionals. Course content is available online, so you can study in your own time, and complemented by workshops designed to reinforce learning.

Each unit involves the following compulsory events:

  • a live online welcome session in Week 1
  • a live online workshop in Week 4.

If you are unable to attend a welcome session or workshop, you will need to apply for special consideration.

Enrolments are not currently open for Term 1.

Register for Term 2.

Unit name

Online welcome session

Online workshop

Debt Markets

Tuesday 8 March
6.30pm – 7.30pm AEDT

Thursday 31 March
10am – 3pm AEDT

Energy Financial Markets

Wednesday 9 March
6.30pm – 7.30pm AEDT

Friday 1 April
10am – 3pm AEDT

Financial Markets Concepts

Monday 7 March
5pm – 6pm AEDT

Monday 28 March
10am – 3pm AEDT

Financial Markets Transactions

Tuesday 8 March
5pm – 6pm AEDT

Tuesday 29 March
10am – 3pm AEDT

Foreign Exchange Markets

Monday 7 March
6.30pm – 7.30pm AEDT

Tuesday 29 March
10am – 3pm AEDT

Risk Management Principles

Wednesday 9 March
5pm – 6pm AEDT

Wednesday 30 March
10am – 3pm AEDT

Register for Term 3.

Unit name

Online welcome session

Online workshop

Financial Markets Concepts

Monday 2 May
5pm – 6pm AEST

Monday 23 May
10am – 3pm AEST

Financial Markets Transactions

Tuesday 3 May
5pm – 6pm AEST

Tuesday 24 May
10am – 3pm AEST

Risk Management Principles

Wednesday 4 May
5pm – 6pm AEST

Wednesday 25 May
10am – 3pm AEST

Debt Markets

Tuesday 3 May
6.30pm – 7.30pm AEST

Thursday 26 May
10am – 3pm AEST

Foreign Exchange Markets

Monday 2 May
6.30pm – 7.30pm AEST

Tuesday 24 May
10am – 3pm AEST

Energy Financial Markets

Wednesday 4 May
6.30pm – 7.30pm AEST

Friday 27 May
10am – 3pm AEST

Register for Term 4.

Unit name

Online welcome session

Online workshop

Financial Markets Concepts

Monday 27 June
5pm – 6pm AEST

Monday 18 July
10am – 3pm AEST

Financial Markets Transactions

Tuesday 28 June
5pm – 6pm AEST

Tuesday 19 July
10am – 3pm AEST

Risk Management Principles

Wednesday 29 June
5pm – 6pm AEST

Wednesday 20 July
10am – 3pm AEST

Debt Markets

Monday 27 June
6.30pm – 7.30pm AEST

Thursday 21 July
10am – 3pm AEST

Foreign Exchange Markets

Tuesday 28 June
6.30pm – 7.30pm AEST

Tuesday 19 July
10am – 3pm AEST

Energy Financial Markets

Wednesday 29 June
6.30pm – 7.30pm AEST

Friday 22 July
10am – 3pm AEST

Register for Term 5.

Unit name

Online welcome session

Online workshop

Financial Markets Concepts

Monday 22 August
5pm – 6pm AEST

Monday 12 September
10am – 3pm AEST

Financial Markets Transactions

Tuesday 23 August
5pm – 6pm AEST

Tuesday 13 September
10am – 3pm AEST

Risk Management Principles

Wednesday 24 August
5pm – 6pm AEST

Wednesday 14 September
10am – 3pm AEST

Debt Markets

Monday 22 August
6.30pm – 7.30pm AEST

Thursday 15 September
10am – 3pm AEST

Foreign Exchange Markets

Tuesday 23 August
6.30pm – 7.30pm AEST

Tuesday 13 September
10am – 3pm AEST

Energy Financial Markets

Wednesday 24 August
6.30pm – 7.30pm AEST

Friday 16 September
10am – 3pm AEST

Register for Term 6.

Unit name

Online welcome session

Online workshop

Financial Markets Concepts

Monday 17 October
5pm – 6pm AEDT

Monday 7 November
10am – 3pm AEDT

Financial Markets Transactions

Tuesday 18 October
5pm – 6pm AEDT

Tuesday 8 November
10am – 3pm AEDT

Risk Management Principles

Wednesday 19 October
5pm – 6pm AEDT

Wednesday 9 November
10am – 3pm AEDT

Debt Markets

Monday 17 October
6.30pm – 7.30pm AEDT

Thursday 10 November
10am – 3pm AEDT

Foreign Exchange Markets

Tuesday 18 October
6.30pm – 7.30pm AEDT

Tuesday 8 November
10am – 3pm AEDT

Energy Financial Markets

Wednesday 19 October
6.30pm – 7.30pm AEDT

Friday 11 November
10am – 3pm AEDT

Macquarie Business School is a leader in Applied Finance education. This program is a new benchmark for Financial Markets accreditation.

David Lynch CEO, AFMA

The course content was relevant, up to date and the course structure was very open and engaging. The content was very applicable to the real-world economy and refers to current economic developments and the broader economic environment.

Financial Markets Certificate participant

More information