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The ACI 3I0-003: ACI SETTLEMENTS CERTIFICATE Exam is the new exam version that has replaced the well known ACI Model Code exam (3I0-002). As the Model code exam was retired in 2017, this document will only focus on the ACI 3I0-003: ACI SETTLEMENTS CERTIFICATE Exam. The ACI 3I0-003: ACI SETTLEMENTS 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 ACI 3I0-003), 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.
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| Section | Weight | Objectives |
|---|---|---|
| Settlement, Netting and Clearing | 20% | - Correspondent banking, Nostro and Vostro accounts - Delivery versus Payment (DvP) - Domestic and international payment systems - Continuous Linked Settlement (CLS) - Netting mechanisms (bilateral/multilateral) |
| Reconciliations and Investigations | 15% | - Settlement discrepancies and claims - Account reconciliation processes - Exception investigation and resolution |
| Risk Management, Controls and Documentation | 10% | - Internal controls and segregation of duties - Compliance and industry best practices - Settlement and operational risk - Business continuity planning |
| Deal Capture and Confirmations | 15% | - Confirmation mechanisms and standards - Trade processing and validation - Amendments, cancellations and novations |
| Financial Instruments and Settlement Processes | 20% | - Short-term bonds and notes - Money market instruments - Derivatives and associated settlement - Foreign exchange instruments |
| Financial Markets and Treasury Operations | 15% | - Front, middle and back office functions - Roles of market participants - Front-to-end transaction lifecycle - Overview of financial markets |
| Treasury Systems and Data Management | 5% | - Communication and processing systems - Static/reference data management - Standard Settlement Instructions (SSI) |
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