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Miriam College is a premier women's college in the Philippines. Founded in 1924, Miriam College offers programs at the basic, tertiary, post-graduate and adult education levels.

The institution supports specialized centers engaged in curriculum development, research, community outreach and advocacy in the fields of social development, peace education, environmental studies and women’s empowerment.

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Certified Capital Markets Specialist Course

The course consists of five (5) independent five (5) hour modules that aim to provide participants with a comprehensive knowledge about the debt and equities markets in the Philippines.

It is envisioned to provide individuals with the skills necessary for investing, trading, analyzing and managing a variety of financial securities available in the Philippine Stock Exchange (PSE), The Philippine Dealing & Exchange (PDex) in preparation for careers as either serious investors or as market practitioners. 

The program shall be offered ONLINE jointly by the Capital Markets Institute of the Philippines (CMIP), through its deputized representative NQ Capital Markets Consultancy & Training Services, and Miriam College - College of Business, Entrepreneurship, and Accountancy (MC CBEA).

What will I study

Below are the content of each module. You have the option to take the whole course or take each course independently:

MODULE 1: Overview of the Philippine Capital Markets

This module serves as the foundation for the whole program. It provides a general idea of the entire Philippine financial system including the Capital Markets, Foreign Currency Exchange, Derivatives and Money Markets.

From this macro point of view, the module narrows down to the capital (debt and stock) markets as it covers extensively the relevant financial Intermediaries (exchanges, trading participants, clearing house & participants, custodian & participants, transfer agents etc.), Philippine Government Regulators, regulations, policies and relevant laws.

This module discusses in detail the Philippine Debt (Fixed Income) Market including the definition of a bond, the various types, classes and ratings. 

It covers the organization and operations of the Philippine Dealing System and the Philippine Dealing and Exchange (PDex) its products (Government & Corporate Debt Securities), trading rules & regulations, transaction charges, clearing and settlement, listing process, reportorial requirements, listing rules and regulations and bond origination process. 

Another focus of this module is the Philippine equities market including, the definition of a stock, types & classes, primary and secondary markets, market participants as well as the organization and operations of the Philippine Stock Exchange (PSE) including its products (stocks, warrants, stock rights, ETF, Shariah, DDS) trading rules & regulations, transaction charges, clearing and settlement, disclosure rules, listing rules and regulations and the underwriting process.

The module concludes with the basics of investing in stocks. It is made up of lessons on the concept of an investment, return and risk trade off, dividends, investor rights and protection.

MODULE 2 : Fundamental Analysis

This module is a study about the quantitative and qualitative valuation techniques employed in capital (bond and stock) market investments. It covers the methodologies used in examining the financial, economic and industrial factors that affect the performance of a specific security.

A quick review of accounting and the analysis and use of financial statements lay the groundwork for this module. The bulk of the lessons pay specific attention to macroeconomic and industry analysis, company analysis and stock valuation, relative valuation techniques and measures of value added, which form part of the “Top-down Approach”.

The module involves other fundamental approaches such as Intrinsic Value Based Model, Asset & Liability Based Models, Residual Value Based Models, Management Efficiency Based Models and Earnings & Price Based Models.

MODULE 3: Technical Analysis

Also known as technical charting, this module is all about the analysis of financial security charts and how statistics generated by price and volume movements in the market are used in forecasting future performance.   
To put things in perspective, technical analysis is compared with fundamental analysis at the beginning of this module. It then covers the evolution of charting in the East and in the West.

The eastern evolution consists of Candlesticks, Equivolume, Renko, Kagi and Ichimoku charting while the western evolution covers Elliot Wave and Classical Charting also known as the Dow Theory.

The main focus of this module is Classical Charting, which discusses extensively the basic principles, price fields, chart composition & scaling, arithmetic charts, logarithmic charts, types of charts.

The advanced stages of the module include trend analysis, retracements, pattern or formation analysis, volume, gap analysis, pitchforks, Fibonacci fanlines and arcs.

It also includes practical exercises on current global charts using specific leading and lagging indicators or oscillators such as Bollinger Bands, Various Moving Averages, Moving Average Convergence Divergence (MACD), Parabolic Oscillator, Stochastics and Relative Strength Index (RSI).

MODULE 4: Portfolio Management

This module covers theories and portfolio management models commonly used by various fund or asset managers and institutional players in the Philippine capital markets industry.

It starts off with a review of statistics, probability and efficient markets. Risk management is also dealt with in detail. The module progresses with lessons on the composition and use of security market indices.

Advanced lessons cover Modern Portfolio Theory and Practice, Portfolio Management and Performance Evaluation, Asset Pricing Model, Risk-Free Asset, Capital Asset Pricing Model (CAPM), Differential Borrowing and Lending Rates, Zero-Beta Model, Transaction Costs, Heterogeneous Expectations and Planning Periods, Taxes, Systematic Risk and Return, Multifactor Model of Risk and Return, and Arbitrage Pricing Model (APM).

The module also offers ample discussions on covered theories versus actual practice or case studies.

MODULE 5 : Philippine Capital Market Intergrity Mechanisms

This module shall cover the various mechanisms established to ensure the integrity of the Philippine Capital markets. It shall also cover codes of ethics observed in the Philippine financial markets such as, but not limited to, the Chartered Financial Analyst (CFA) Institute’s codes and standards of Ethics.

It covers relationship and responsibilities to the profession, professional conduct, relationship and responsibilities to the employer, disclosure of conflict, relationship and responsibilities to the clients, investment decisions, research report: fact or opinion, independence and objectivity, fiduciary duties and “sort dollars”, fair dealing, preservation of confidentiality, priority of transactions, prohibition against misinterpretation, disclosure of conflicts to clients and prospects, and disclosure of referral fees, among others.

It also focuses on relationship and relationship to the investing public, more specifically the prohibition against use of material non-public information, and market manipulation.

Discussions are also anchored on the Securities Regulation Code, the PSE Rules and Regulations, particularly the Trading Rules and, Disclosure Rules and other relevant Philippine Laws. Additional discussions include the PSE Bell Awards, Maharlika Board, MAP Best Annual Report Award, SharePHL, and the Capital Market Integrity Corporation.

The module also provides for other examples on ethical standards such as the Code of Ethics and Business Conduct for Employees of New York Stock Exchange, Code of Professional Conduct for Employees of Etrade Financial Corporations.

Further case studies include the BW Resources Scandal, Enron scandal, and the Satyam Computer Services scandal.

Framework for Modules

To maximize learning especially for working participants, the classes shall be scheduled on 5 (five) consecutive Saturdays. Below is the breakdown for each:

MORNING SESSION (9:00 AM-12:00 NN)
  1. Knowledge & Concepts
    • Course orientation (framework, coverage, methodology)
    • Theories and concepts reviewed and explained
    • Course requirement/project in relation with Industry Paper
       
  2. Course Integration
    • Applications to different industries
    • Orientation with global and ASEAN stock markets Group discussion, experiences and insights sharing
AFTERNOON SESSION (1:00 PM - 3:00 PM) 
  1. Application & Analysis
    • Case analysis
    • Case development (if applicable) Case discussion and processing Problem assignment
       
  2. Competency & Course Evaluation
    • Individual or group presentation
    • Presentation analysis
    • Course wrap up
    • Evaluation 

Why take the Certified Capital Markets Specialist Course at MC?

  • Our faculty pool are leading market practitioners in the Philippine capital markets (expert fund managers, brokers, traders analysts, regulators, investment bankers); government regulators and agencies related to the capital markets, and market operatives from foreign chambers, market data vendors & industry associations.
  • Outcomes, practical, and industry based learning methods shall be utilized where participants are given the chance to practice investing in the Philippine capital markets products and the subsequent experiences are shared and processed in class with guidance of professors. On-line accounts shall be opened with select PSE On-line brokers.
  • Team Teaching shall be employed as a main strategy for instruction. A team of professors composed of industry practitioners and academicians shall work together to lay out and implement learning activities throughout the course period.
  • Student centered learning shall be achieved with the team of professors acting as facilitators providing expert guidance while participants undergo activities designed to learn various subject matters.
  • Shared Learning shall be a two-way approach wherein professors and participants learn alike. This set up shall enrich classroom discussions and appreciation of the course. Activities along this line shall include presentations and group dynamics.
  • Case studies shall be one of the main learning outputs of each course. Professors will provide close- to-reality, if not real life, cases to be evaluated by participants to enhance their communications, analytical, strategic thinking, and decision making skills. Case studies shall be focused on the ASEAN stock markets and related industries. Case studies inspired from experiences may also be formed by the participants themselves that will widen local setting situations for probing and study.
  • Multimedia platforms and laboratory hours such as videos and audio books shall be used to complement online class discussions. Online class hours are also dedicated for special demonstrations for market data vendor platforms such as Thomson Reuters, Factset Bloomberg, and/or Technistock.
  • Eligibility
  • Course Fee and Inclusions

Any individual of legal age interested in how the Philippine capital markets work may join the course.

College graduates of any course in any university or college are highly encouraged. Non-degree holders who are keen to learn about the topic are most welcome to join.

Since this course shall be totally online, it is ideal for participants to have the following: 

  1. Stable internet connection 
  2. Any device [laptop (most preferred), mobile phone or tablet/iPad] with a microphone, camera and can run at least Powerpoint, PDF, mp4, mp3 files
     

Full Package Payment Basis:

The full package amounts to PHP 11,000 (eleven thousand pesos) covering all five (5) modules, course materials and certification examination.

  • A “Certificate of Attendance” shall be awarded at the end of each module.
  • The “CAPITAL MARKETS SPECIALIST CERTIFICATE” shall be awarded by CMIP to those who pass the certification examination.


Per Module Payment Basis:

The fee for each module is PHP 2,500 (two thousand pesos). A Certificate of Attendance will be awarded at the end of each module.

  • A “Certificate of Attendance” shall be awarded at the end of each module.
  • A person who is able to take all five modules on a “per module” basis has the option to take the certification examination for a fee of PHP 1,000.00 (one thousand pesos) in order to be awarded the “CAPITAL MARKETS SPECIALIST CERTIFICATE”.
  • Number of Modules: 5
    Course Fee:
    PhP 11,000 (full course) / PhP 2,500 (per module)
  • Class Schedule: 
    October 17 - November 14
    5 consecutive Saturdays, 6 hrs per module

  • Open to any individual of legal age. College graduates and non-degree holders are highly encouraged to join the course.