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Global Standard in Financial Engineering
Certificate in Quantitative Finance
CERTIFICATE IN
FINANCE
CQF
www.cqf.com
Delivered by4 Chiswell Street, London, EC1Y 4UP 55 Broad Street,
3rd Floor, New York, NY 1000436 Robinson Road, #12-06, Singapore
068877
2801, Tower 2, Lippo Centre, 89 Queensway, Hong KongDubai
International Financial Centre, Al Fattan Currency House, Tower 2,
Level 8, Office No. 804, PO Box 482058
www.cqf.com
EMEA
Geoff BrownE: [email protected]
T: +44 (0)20 7496 8636
AMERICAS
Matthew PotterE: [email protected]
T: +1 646 943 6208
APAC
Fiona PhamE: [email protected]
T: +65 6572 9417
Connecting quantitative finance professionals
The CQF Institute promotes the highest standards in practical
financial engineering and provides
a platform for educating and building the quantitative finance
community around the globe.
Become a member and gain access to industry white papers and
networking opportunities
through local societies.
Join the Institute at www.cqfinstitute.org
@CQFInstitute
Certificate in Quantitative Finance
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Contents
About the CQF ................................................
3
Your CQF journey ............................................
4
Diverse delegate profile ....................................
6
CQF alumni .....................................................
8
Online learning resources ..................................
9
Flexible program delivery
.................................10
Mathematics for Quantitative Finance Primer ......11
CQF program content ......................................12
Lifelong Learning
............................................15
CQF faculty
....................................................16
How to apply
..................................................19
FAQs
.............................................................20
Our affiliates
...................................................22
CERTIFICATE IN
FINANCE
CQF
Dr. Paul Wilmott CQF Program founder
Real-world financial engineering
Finance is an increasingly sophisticated and competitive sector
to work in and the demand for education in quantitative finance has
never been greater. With a focus on the practical implementation of
quantitative techniques, the Certificate in Quantitative Finance
(CQF) is taught by leading practitioners and is designed to help
you advance in the financial landscape Once you qualify, our
ever-expanding Lifelong Learning library will support you
throughout your career.
To date, more than 3000 professionals worldwide have completed
the program and the Certificate has gained global recognition as
the benchmark qualification for anyone in, or aspiring to enter,
the
sphere of quantitative finance.
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3www.cqf.com
Founded by Dr. Paul Wilmott, the Certificate in Quantitative
Finance program is designed for individuals working in, or
intending to move into, derivatives, IT, quantitative trading,
insurance, model validation or risk management. Delivered via
online learning, the program comprises six modules and offers two
study options for completing the program, either in six months or
two three-month levels.
With a unique focus on real-world financial engineering, the CQF
program provides analysis of practical quantitative techniques used
in the industry and is taught by leading experts. Once certified,
you will gain access to our free continuing professional
development program to keep you up to date with the latest industry
developments.
Offered by the CQF Institute, the program is delivered by Fitch
Learning, a leading global training company with centers in London,
New York, Singapore, Hong Kong and Dubai.
Receive an internationally renowned professional
qualification
The CQF is a prestigious qualification that provides in-depth
analysis of practical quantitative methods for financial
markets.
Develop career-enhancing skills
The program is a key career development tool for professionals
from a rich diversity of backgrounds and responsibilities who want
to build their skills in quantitative finance.
Study part-time online
The program is offered via flexible online learning, starting
twice a year in January and June
Delegates will have permanent access to a cutting-edge online
learning environment
All lectures are streamed live over the internet and are
recorded and made available on the CQF Portal within 24 hours.
Choose between two study options
Full Program: complete the six modules in six months
Level I & Level II: complete the six modules in two
three-month levels. Levels can be taken in separate programs.
Benefit from expert teaching
The CQF faculty is a highly acclaimed team of experts combining
experienced practitioners and leading academics specializing in the
field of quantitative finance
Delegates receive a free one-year subscription to Wilmott
Magazine.
Take advanced electives in specialist areas
In module six you choose two electives to specialize in your
field.
Access our free Lifelong Learning library
CQF alumni gain access to our ever-expanding Lifelong Learning
library with over 660 hours of extra lectures on the latest
quantitative finance topics.
Become part of an influential global alumni network
CQF alumni benefit from a strong business community of more than
3000 quantitative professionals
We invest in the future of our alumni network through a range of
social and educational events.
About the CQFA world-class professional qualification in
quantitative finance
WHY TAKE THE CQF PROGRAM?
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4Your CQF journeySupporting you beyond the program
APP
LYONLINE
Submit your application online at www.cqf.com/apply. You will
receive a decision regarding your application within 48 hours.
Should you have any questions about the application process,
contact us at [email protected] or call +44 (0)845 072 7620.
REFR
ESH YOUR
MAT
HEM
ATICS SK
ILLS
The CQF program begins with the Mathematics for Quantitative
Finance Primer (optional) 12 hours of intensive training covering
all the mathematical preliminaries you need to know before starting
the quantitative finance lectures.
The Primer is multi-faceted and includes Visual Basic for
Applications (VBA), starting with the fundamentals and working up
to the more complex features of VBA using Windows Excel. These
lectures support the Primer in preparing for the CQF.
ATTE
ND AN
INFO
RMAT
ION SES
SION
Find out more about the CQF program by attending one of our
global information sessions or live online webinars, where you
can:
Meet members of the faculty
Discuss details about the program
Find out more about your career options.
Register for an information session at www.cqf.com
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www.cqf.com
5
STUDY FO
R TH
E CQF
The CQF program comprises six modules, which will need to be
completed to gain the CQF qualification.
Study options available to you:
Full Program complete the six modules in six months
Level I & Level II complete the six modules in two three-
month levels
Each module covers a different aspect of quantitative finance
and consists of lectures and discussions. At the end of modules two
to five, delegates take a written exam. In module six delegates
choose two electives and complete a practical project, developing
implementation skills.
Module One Building Blocks of Quantitative Finance
Module Two Quantitative Risk and Regulations
Module Three Equities and Currencies
Module Four Fixed Income and Commodities
Module Five Credit Products and Risk
Module Six Advanced Electives
Final Exam for Distinction (Optional) The final three-hour
examination takes place in exam centers worldwide. Delegates who
score 80% or above receive a distinction grade.
CONTINUE
LEARN
ING
We invest in the future of our CQF alumni by offering a free
continuing professional development (CPD) program, called Lifelong
Learning. It is designed to support you for the whole of your
career. Lifelong Learning consists of:
Lectures A library of over 660 hours of lectures on every
conceivable finance subject with regular new additions on the
latest topics and techniques being used in industry.
Masterclasses Over 100 hours of additional material to help you
delve deeper into subjects.
Certificate in Mathematical Methods (CM2) An intensive course of
54 recorded lectures (equivalent to more than the first two years
of a university mathematics degree).
C++ Over 70 hours of tuition across 28 recorded sessions
covering the theory of design and translating pricing models into
working C++ code.
JAVA Introductory Java course especially designed for
quants.
Trading Simulator Try out new ideas in a realistic setting,
incorporating real-time events based on live data from the
marketplace.
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6Diverse delegate profileEmployers and geographical
locations
DELEGATE OCCUPATION
Fund
m
anag
emen
tH
edge
fund
sTr
adin
g
Student
DELEGATE ACADEMIC DISCIPLINE
Physics
ABN AMRO Abu Dhabi Investment Authority
AccentureAlexia Asset Management
BanamexBank for International SettlementsBank of America Merrill
Lynch
BarclaysBNP Paribas
BP Gas TradingBritish Energy
CalyonChicago Trading Company
CitadelCitco
Citi GroupCommerzbankCrdit AgricoleCredit Suisse
DeloitteDerivative Trading Systems Ltd
Deutsche BankDuff & Phelps
EDF TradingErnst & Young
Fidelity InternationalFitch Ratings
GE Capital SolutionsGoldman SachsGordian Knot
HBOS HSBC IB
IBM ING
Intesa San Paolo
J.P. Morgan
KPMG
Lloyds Bank
Man FinancialMarshall Wace
Mellon Capital Management
Mitsubishi UFJ Securities InternationalMoodys
Morgan Stanley
Nationwide Building SocietyNationwide Financial
Nomura
Och-Ziff Capital
PAAMCO
RBSRWE
Schroders
Thomson ReutersTowers Watson
Trafigura
UBSUnicredit
Watson WyattWells Fargo
CROSS SECTION OF DELEGATE EMPLOYERS
CQF delegates come from a rich diversity of different
backgrounds and responsibilities, bringing a wealth of experience
to the program.
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7www.cqf.com
NORTH AMERICAUSA New York Chicago San Francisco Boston
Washington D.C. Los Angeles Florida Houston New Jersey Missouri
Texas California Pennsylvania Connecticut Minnesota OregonCanada
Toronto Quebec Ontario
SOUTH AMERICABrazil Sao Paulo Rio de Janeiro
ChileColombiaPeruParaguay
EUROPEUnited Kingdom GermanySwitzerlandSwedenThe
NetherlandsFranceRussiaItalyIrelandSpainLuxembourgDenmarkNorwayBelgiumAustriaPoland
MIDDLE EASTIsraelUAESaudi
ArabiaQatarLebanonAzerbaijanSyriaBahrainKuwait
AFRICASouth AfricaEgyptMoroccoNigeriaZimbabwe
ASIA PACIFICSingaporeChinaJapanIndiaAustraliaMalaysiaVietnam
86% of applicants work in the financial sector 80% of delegates
work full-time for the duration of the program
KEY STATS
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8CQF alumniAn influential network of quant professionals
The current alumni network is an exclusive global community,
which consists of over 3000 quantitative finance professionals. We
invest in the future of the network through a range of events,
publications, a directory and a dedicated portal.
In addition, the CQF Institute provides networking opportunities
to connect you with the wider quantitative finance community
through local societies.
Amit Marwaha
Previous qualifications: MBA Finance, University of Texas at
Austin Current position: Research Analyst, Engery, Fidelity
Investments
The CQF was a good way of improving my math while working at the
same time. The CQF has definitely had an impact on my job. It has
given me the information, tools and the knowledge necessary to
speak to clients and price assets in an effective manner.
Elias-John Kies
Previous qualifications: HBBA, Business, Wilfrid Laurier
UniversityCurrent position: Director of Analytics, EDGAR Online
Inc.
I had a firm grasp on market fundamentals yet yearned for a
deeper technical perspective to analyze the increasingly complex
capital markets. The CQF filled this gap perfectly. The value of
the CQF increases every day as extra lectures are continually
added. I highly recommend the CQF to any serious investment
professional.
Anuj Gupta
Previous qualifications: MPhil in Advanced Chemical Engineering,
University of Cambridge Current position: Global Head, Equity &
Commodity Valuation Methodologies, UBS Investment Bank
The CQF not only teaches you the mathematics underpinning the
different financial models, it also highlights their main
assumptions and potentials dangers. It has certainly helped me
enhance my career aspirations while keeping abreast with
cutting-edge modeling developments.
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9www.cqf.com
All classes are recorded and then uploaded onto the CQF Portal.
Every delegate is provided with their own online account, allowing
them to access the following:
Live lectures
Recorded core lectures
Annotated class notes
Stimulating exercises
Sample code and spreadsheets
Recorded additional/non-examined classes
Lifelong Learning library (for Full Program and Level II
delegates)
Upload tool for modular exams
Dedicated CQF forum
Live one-to-one interactive lecturer support
Whiteboard facility
CQF Portal
Comprehensive learning portal
Online learning resourcesAllowing you to study in your own
time
The CQF is at the forefront of interactive online learning and
is continually developing new methods and tools as our global
audience expands. Our comprehensive online learning portal gives
24-hour, permanent access to all of the recorded lectures and
program materials. We also offer a CQF App which enables you to
access your learning materials on iOS and Android devices.
The CQF App demonstrates our dedication to deliver innovative
solutions for online learning. TheApp can be downloaded onto any
iOS or Android device and gives access to the Mathematics Primer
lectures, the VBA lectures and core lectures as the program
progresses.
Key features of the App:
Mathematics Primer lectures and lecture notes
VBA lectures
Core lectures and lecture notes
CQF App
Interactive CQF App
The CQF Portal and App are revolutionary tools allowing
delegates to access their CQF lecture materials whenever is
convenient for them. This flexibility allows the program to be
completed on a part-time basis around a busy work schedule and
while on the go.
Dr. Randeep Gug, CQF Program Director
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Flexible program delivery Two study options
The examined part of the CQF program comprises six modules,
which will need to be completed to obtain the CQF designation. You
can start the program in either January or June. Dedicated to
delivering flexible learning, the CQF offers two study options so
you can decide how to complete the program.
Option 1 Full Program
The program can be taken in full by completing the six modules
in six months. This option provides you with immediate access to
all of the materials you will need throughout the program and
Lifelong Learning.
Option 2 Level I & Level II
The program can also be completed in two levels with each level
comprising three modules, completed over a duration of three months
per level. Levels can be completed in separate programs.
Level I
Level I will give you an understanding of the essential tools
needed in the industry. Access to the program preparation and the
CQF App are just some of the benefits you will receive in Level I.
Upon completing this level, you will have an excellent knowledge of
the mathematical tools and concepts used in quant finance, covering
areas of quantitative asset management and risk management,
progressing onto pricing of equities and currency derivatives.
Level II
Building on the key skills and knowledge of Level I, Level II
will deepen your understanding and further your practical skills
leading you to completion of the CQF. Level II provides the
opportunity to complete an applied project as well as access to
expansive knowledge and topical information with Lifelong Learning.
Through completion of Level II, your knowledge will cover
fixed-income products and interest rate modeling, commodities, the
latest the latest techniques used in credit modeling and advanced
research level topics being developed in industry and academia.
12-hour intensive training to cover mathematical
preliminaries
Free Lifelong Learning includes over 660 hours of recorded
topical lectures, new topical lectures every month, C++, CM2,
Java and Trading Simulator
Full Program = Modules One to SixLevel I = Modules One to
ThreeLevel II = Modules Four to Six
Modules Two to Five ExaminedModule Six Applied Project
MATHEMATICS FOR QUANT FINANCE PRIMER
(optional)
CONTINUING PROFESSIONAL EDUCATION (included)
PROGRAM
PREPA
RATION
CQF
DESIGNATION
LIFELO
NG
LEARNING
LEVEL I
LEVEL II
FULL PROGRAM
OR+
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www.cqf.com
Mathematics for Quantitative Finance PrimerGetting prepared
The CQF program begins with the Mathematics Primer (optional),
12 hours of intensive training covering all the mathematical
preliminaries you need to know before commencing the CQF lectures.
The Primer has been designed to get you back up to speed with your
mathematics.
Calculus and Differential Equations Refresher
Calculus: Functions and Limits Differentiation and Integration
Complex Numbers Functions of Several Variables
Differential Equations: First-order Equations Second and
Higher-order Equations
Linear Algebra and Probability Refresher
Linear Algebra: Matrices and Vectors Systems of Linear Equations
Eigenvalues and Eigenvectors
Probability: Probability Distribution Function Cumulative
Distribution Expectation Algebra Key Discrete and Continuous
Distributions including the Normal Distribution
Central Limit Theorem
Statistics: General Summary Statistics Maximum Likelihood
Estimator Regression and Correlation
For more information about the Mathematics Primer, visit
www.cqf.com/program
THIS PROGRAM COVERS THE FOLLOWING:
Visual Basic for Applications
The Primer is multi-faceted and includes Visual Basic for
Applications, starting with the basics and working up to the more
complex features of VBA using Windows Excel.
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CQF program contentOutlining the modules
Building Blocks of Quantitative Finance This module introduces
the rules of applied It calculus as a modeling framework. We build
tools in both stochastic calculus and martingale theory and look at
simple stochastic differential equations and their associated
Fokker-Planck and Kolmogorov equations.
Random Behavior of Assets Important Mathematical Tools and
Results Taylor Series Central Limit Theorem Partial Differential
Equations Transition Density Functions Fokker-Planck and Kolmogorov
Stochastic Calculus and Its Lemma Manipulating Stochastic
Differential Equations Products and Strategies Martingale
Fundamentals Martingale Advanced The Binomial Model for Asset
Prices
Fixed Income and CommoditiesThis module reviews the plethora of
interest rate models used within the industry. We discuss the
implementation and limitations of these models and the need for a
more sophisticated framework in order to understand these
processes. Many of the ideas seen in the equity-derivatives world
are encountered again here but in a more complex form.
Fixed-Income Products and Market Practices Yield, Duration and
Convexity OIS Discounting Stochastic Spot-Rate Models Affine
Stochastic Models Probabilistic Methods for Interest Rates Change
of Numraire Heath, Jarrow and Morton Calibration Data Analysis
Libor Market Model SABR Model Monte Carlo Methods, Brownian Bridge,
Advances Schemes Quasi-Monte Carlo Methods, Sobol and more
Mathematica for Quantitative Finance Energy Derivatives:
Speculation and Risk Management
MODULE ONE
MODULE FOUR
LEVEL I
FULL PROGRAM
LEVEL II
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www.cqf.com
Modules Two to Five are examined at the end of each respective
module. For Module Six all delegates have to complete a practical
project and apply their theoretical knowledge to real-world
problems.
Quantitative Risk and RegulationsThis module deals with the
classical portfolio theory of Markowitz, the Capital Asset Pricing
Model and more recent developments of these theories. We
investigate risk and reward, looking at risk management metrics
such as VaR. We also examine current regulation and its impact on
the industry from both a trading and investment perspective.
Modern Portfolio Theory Capital Asset Pricing Model Sharpe Ratio
and Market Price of Risk Arbitrage Pricing Theory Portfolio
Optimization for Portfolio Selection The Black-Litterman Model Risk
Regulation and Basel III Value at Risk Impact of Risk Regulation on
Investment and Trading Volatility Clustering and Other Stylized
Facts Properties of Daily and High-Frequency Asset Returns
Volatility Models: the ARCH Framework Co-integration: Modeling
Long-term Relationships
Credit Products and RiskCredit risk plays an important role in
current financial markets. This module looks at the major products
and examines the most important models. The modeling approaches
include the structural and the reduced form as well as copulas.
Structural Models Reduced-Form Model and the Hazard Rate Credit
Risk and Credit Derivatives X-Valuation Adjustment (CVA, DVA, FVA,
MVA) CDS Pricing, Market Approach Synthetic CDO Pricing Risk of
Default, Structural and Reduced Form Implementation of Copula
Models Statistical Methods for Estimating Default Probability
Correlation Sensitivity and State Dependence NAG and Excel for
Quantitative Finance
Equities and CurrenciesThe Black-Scholes theory, built on the
principles of delta hedging and no arbitrage, has been very
successful and fruitful as a theoretical model and in practice.
This module explains the theory and results using different kinds
of mathematics to make the delegate familiar with techniques in
current use.
The Black-Scholes Model Hedging and the Greeks Option Strategies
Early Exercise and American Options Finite-Difference Methods Monte
Carlo Simulations Exotic Options Volatility Arbitrage Strategies
Martingale Theory for Pricing Girsanovs Theorem Advanced Greeks
Derivatives Market Practice Advanced Volatility Modeling in
Complete Markets Non-probabilistic Volatility Models Markets-based
Valuation of Equity Index Options Using Python
MODULE TWO
MODULE FIVE
MODULE THREE
MODULE SIX
Advanced Electives In this module you choose two from the
following six online electives to specialize in your area of
interest. You will also be required to complete a practical project
relating to the electives you have chosen.
Algorithmic Trading Advanced Computational Methods Advanced Risk
Management and Regulation Advanced Volatility Modeling Advanced
Portfolio Management Counterparty Credit Risk Modeling
* Electives are subject to change. Visit our website www.cqf.com
for an up-to-date list.
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14
Lifelong Learning is very important to me and the CQF is
outstanding compared to alternatives. I will continue learning from
the masterclasses and extra lectures because for me learning is key
and I enjoy doing it all the time.
Name: Lilan LiPrevious qualifications: Master of Engineering,
Information Systems & Management, Institut National des
Sciences Appliques de Lyon
Current position: Credit Valuation Methodology, UBS Investment
Bank
CQF ALUMNI PROFILE
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www.cqf.com
15
Lifelong LearningContinuing professional development throughout
your career
Our free Lifelong Learning program for alumni contains a library
of over 660 hours of lectures on every conceivable finance subject.
Delivered by some of the most eminent practitioners and academics,
the content is ever expanding, with additional lectures continually
taking place. CQF alumni have permanent, unrestricted access to CQF
lectures and the entire Lifelong Learning library, allowing them to
maintain and further their professional development at no
additional cost.
LECTURES Largest component of Lifelong Learning Library of over
660 hours of lectures on every conceivable finance subject
Delivered by some of the most eminent practitioners and
academics
Ever-expanding and up-to-date content
CERTIFICATE IN MATHEMATICAL METHODS Intensive program with 54
lectures Covers a variety of mathematical methods applicable to
real-world problems
Equivalent to more than the first two years of a university
mathematics degree course
JAVA Introductory Java course with seven interactive lectures
especially designed for quants
Covers everything you need to know about the basic framework of
how Java works
MASTERCLASSES Delve deeper into specific subjects Over 100 hours
of additional material Delivered by experts such as Dr. Paul
Wilmott, Dr. Peter Jckel, Dr. Espen Gaarder Haug, Dr. Alonso Pea
and Dr. Sbastien Lleo
C++ Over 70 hours of tuition across 28 recorded sessions
Critical to a role as a modern quant in a top-tier investment
bank
Covers the theory of design and translating pricing models into
working C++ code
TRADING SIMULATOR Expands on the core lecture Incorporate
real-time events based on live data from the marketplace
Includes multiple interaction types and in-depth reporting
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Dr. Paul Wilmott Paul is internationally renowned as a leading
expert on quantitative finance and founder of the CQF. His research
work is extensive, with more than 100 articles in leading
mathematical and finance journals, as well as several
internationally acclaimed books on mathematical modeling and
derivatives, including Paul Wilmott on Quantitative Finance. He has
extensive consulting experience with leading US and European
financial institutions, founded a volatility arbitrage hedge fund
and a university degree course.
Dr. Riaz AhmadRiaz is Head of CQF Faculty and teaches
Mathematical Finance, C++ programming and Mathematical
Methods-based courses. Riaz is an applied mathematician with
teaching and research interests in the mathematical and
computational aspects of financial derivatives in particular,
stochastic volatility and jump diffusion models, exotic options and
interest rate modeling. Amongst others, Riaz has lectured in
Mathematical Finance at University College London and Oxford
University.
Dr. Espen Gaarder HaugEspen has worked in derivatives trading
and research for more than 20 years. He worked as a proprietary
option trader at J.P. Morgan in New York, and as an option trader
for two multibillion dollar hedge funds, Amaranth and Paloma
Partners. He also worked as an option market maker for Chase
Manhattan Bank (now JPMorgan Chase). He has been involved in almost
every option market, including equity, currency, fixed income,
energy and commodities. He has a PhD from the Norwegian University
of Science and Technology.
Neil GrahamNeil joined Barclays International in 1985 initially
in the foreign exchange, money markets and derivatives operations
areas before moving to the trading room in 1991. Here, his roles
included both inter-bank and sales positions in spot and forward
FX, money markets and treasury derivatives. After leaving Barclays
in 1995, Neil became a local on the London International Financial
Futures and Options Exchange (LIFFE), trading own account positions
in interest rate, bond and equity derivatives.
Dr. Sbastien LleoSbastien is a lecturer on the CQF program,
Associate Professor of Finance and Director of Doctoral Program at
NEOMA Business School in France, and a Visiting Lecturer at the
Frankfurt School ofFinance and Management in Germany. Previously,
he held a research position at Imperial College London in the UK.
Before that, he worked for seven years in the investment industry
in Canada and held consulting positions. He holds a PhD in
Mathematics from Imperial College London.
Dr. Randeep GugRandeep is the Head of Professional
Qualifications at Fitch Learning and the CQF Program Director. He
spent five years working in the Equities division at Salomon Smith
Barney and later traded futures and options on the Indian National
Stock Exchange (NSE). A qualified teacher, he has a first-class
honors degree and a PhD for research in semiconductor physics.
Dr. Richard Vladimir DiamondRichard advises family offices on
private equity, asset allocation, investment performance and
effectiveness of hedges. He designs and executes trades his
specialties are volatility regimes modeling and VIX futures
arbitrage. Richard earned his doctorate from the University of
Southampton (UK), studying complexity and project risk of IT
operations in banking. Since 2005, he has been teaching in
operations management, statistics and financial mathematics,
recently at Cass Business School and Regents College in London.
Dr. Iris MackIris earned a Harvard doctorate in Applied
Mathematics and a London Business School MBA. She is also a former
derivatives quant/trader who has worked in financial institutions
in the US, London, Asia and the Caribbean. Iris serves on a
National Academy of Sciences Research Advisory Board and on the
Advisory Boards of the Women Mentor Women Foundation.
Dr. Peter JckelPeter is the founder and Managing Director of OTC
Analytics. He received his DPhil in Physics from Oxford University
in 1995. Peter migrated into quantitative analysis and financial
modeling in 1997 when he joined Nikko Securities. When Nikko closed
down its European operations in 1998, he changed to NatWest, which
later became part of the Royal Bank of Scotland group. In 2000, he
moved to Commerzbank Securities product development group. From
2004 to 2008, he was with ABN AMRO as Global Head of Credit,
Hybrid, Inflation, and Commodity Derivative Analytics. Peter is the
author of the book Monte Carlo Methods in Finance (2002).
Dr. Alonso PeaAlonso is SDA Professor at the SDA Bocconi School
of Management in Milan. He has worked as a quantitative analyst in
the Structured Products group for Thomson Reuters Risk and for
Unicredit Group in London and Milan. He holds a PhD from the
University of Cambridge on finite element analysis. He has lectured
and supervised graduate and postgraduate students from the
universities of Oxford, Cambridge, Bergamo, Pavia, Castellanza and
the Politecnico di Milano. His area of expertise is the pricing of
financial derivatives, in particular structured products.
CQF facultyWorld-renowned practitioners and academics
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www.cqf.com
Dr. Si-Yi ZhouSi-Yi is an Associate Lecturer for the CQF. He
teaches applied quantitative finance in volatility arbitrage,
stochastic interest rate models and credit derivative pricing and
risk management. Before joining Fitch Learning, Si-Yi worked as a
senior risk analyst in a City of London-based consulting firm,
providing constructive solutions to leading banks and insurance
companies. He has worked on many projects in counterparty credit
risk and market risk management. Currently he is working at Moodys
Analytics, based in London.
Dr. Patrick HaganPatrick received his BS and PhD in Applied
Mathematics from Caltech. Over the years he has worked at Bloomberg
and several banks designing trading systems for fixed income,
credit, and foreign exchange derivatives, as well as developing the
component models, calibration methods, and numerical algorithm.
Before entering finance he was Deputy Director of the CNLS and a
member of the Computer Research and Applications group at Los
Alamos. He has also worked at Exxon Science Laboratories, and has
taught at Caltech, Stanford, the Institute for Mathematics and its
Applications, and NYU.
Professor Stephen TaylorStephen has held a Chair in Finance at
Lancaster University Management School since 1993. His degrees are
in Mathematics and Operational Research. He teaches financial
econometrics at Lancaster and in recent years has been a Visiting
Lecturer at universities in Norway, China, Australia and New
Zealand. His seminal work on stochastic volatility and GARCH models
is incorporated in the highly cited book on Modelling Financial
Time Series (Wiley 1986 & World Scientific 2008). His most
recent research interests are density forecasts for asset prices
obtained from option prices and the jump intensity of asset prices
inferred from high-frequency prices.
Dr. Yves HilpischYves is the founder and Managing Partner of The
Python Quants, an analytics software provider and financial
engineering group. He is the author of Python for Finance (OReilly,
2014) and Derivatives Analytics with Python (Wiley, 2015). Yves
also lectures on computational finance and organizes meet-ups and
conferences about Python for Quant Finance in New York and
London.
Dr. Jon GregoryJon is a consultant specializing in counterparty
risk related projects and a senior advisor at Solum Financial
Partners Ltd. He has worked on many aspects of credit risk in his
career, being previously with Barclays Capital, BNP Paribas and
Citigroup. He is author of the book Counterparty Credit Risk: The
New Challenge for Global Financial Markets (now in its second
edition) and Central Counterparties: The Impact of Mandatory
Clearing and Bilateral Margin Requirements on OTC Derivatives. He
holds a PhD from Cambridge University.
Edward TalisseEdward is a global capital markets professional
with more than 25 years of experience gained at Morgan Stanley and
UBS. He is the founding partner and Chief Executive Officer of
Chelsea Global Advisors, an investment management and advisory firm
based in New York City, providing specialist advice in the area of
global capital markets. His primary areas of interest are in G3
fixed income and equity trading, investment strategies as well as
capital structure optimization and operating leverage efficiency.
He received an MBA from the State University of New York and has
done advanced course work at Fordham University and the University
College of London.
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18
The CQF has helped me look inside the world of financial
markets, derivatives and risk management systems to gain an insight
which would not be possible through practice alone. The program has
given me the tools to price financial instruments and
systematically manage market and credit risk with confidence.
Name: Stewart ButtonPrevious qualifications: Bachelor of
Engineering with First-class Honors, University of Tasmania Current
position: Quantitative Analyst/Developer Algorithmic Trading and
Risk Management, Onyx Financial
CQF ALUMNI PROFILE
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Fees
The CQF fees cover:
Tuition Examination CQF App Reading material Mathematics Primer
course Lifelong Learning lectures C++ programming course Access to
the CQF Alumni Network
ScholarshipsA number of scholarships are available to assist
with the support of tuition fees for select delegates. Candidates
wishing to apply for a scholarship will need to be able to
demonstrate why they will benefit from taking the CQF and why they
should be worthy recipients of the discounted tuition.
Thomson Reuters Scholarship
The Thomson Reuters Scholarship will be awarded to one applicant
per program from the Americas, whereby the recipient will have
his/her program tuition discounted. All applications and supporting
documents must be submitted at least two months prior to the
program start date.
Wiley Scholarship
The Wiley Scholarship will be awarded to one applicant per
program from Asia, whereby the recipient will have his/her program
tuition discounted.
Wilmott Scholarship
For those who are unemployed, full-time students orliving on a
low income, the Wilmott Scholarship covers a portion of the tuition
fees.
19
www.cqf.com
How to applyEnrolling on the program
The application has been designed to keep the process simple.
Should you have any questions about the application process, please
do not hesitate to contact us at [email protected] or call +44 (0)845
072 7620.
For more information on the above, visit www.cqf.com/apply
1.
2.
3.
4.
Apply online at www.cqf.com/apply
The CQF Admissions team will come back to you within 48 hours
indicating whether you have been granted preliminary acceptance
onto the program, and the timescale within which you must make your
decision on the offer. We might also invite you to be interviewed
over the phone.
You will then be required to fill out a short enrollment form,
accepting your place on the CQF. As part of completing this
enrollment form, you will be required to pay a non-refundable
deposit which will entitle you to reserve a place on the program
and get access to preliminary program materials and lectures,
including the Mathematics Primer.
You will also be required to complete a Mathematics Aptitude
Indicator before the program begins. This will indicate to us what
areas of mathematics are your strongest and weakest. You may
complete this test up to one week after taking the Mathematics
Primer.
18
Name: Stewart ButtonPrevious qualifications: Bachelor of
Engineering with First-class Honors, University of Tasmania Current
position: Quantitative Analyst/Developer Algorithmic Trading and
Risk Management, Onyx Financial
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20
FAQsQuestions and answers
Should I attend the program?The Certificate will be of special
interest to those working in: Derivatives Risk Management
Structuring Trading Fund Management IT Investment Banking Hedge
Funds Financial Software Consulting Universities Regulation
Insurance
How long is the program?The examined core part of the program is
six months long. Dedicated to delivering flexible learning, the CQF
offers two study options so you can decide how to complete the
program and gain the CQF designation.
Full Program
The program can be taken in full by completing the six modules
over six months, providing you with immediate access to all of the
materials you will need throughout the program and access to our
Lifelong Learning lectures.
or
Level I & Level II
The alternative option involves taking the CQF in two levels of
three months per level. Level I consists of the Mathematics Primer
and Modules One to Three. Level II consists of Modules Four to Six
and Lifelong Learning.
What happens if I fail an exam?If a delegate is struggling with
a module they are encouraged to contact us as soon as possible so
that a member of the CQF faculty can give them extra help and
support. If a delegate fails one of the modules the CQF faculty
will meet and review their position. On the basis of this meeting
they will then recommend the delegate either retakes the
examination or defers to the next program using this extra time
to revise the relevant topics. There is no cost to defer the CQF
program.
When does the program start?The program is delivered twice a
year, commencing in January and in June.
Can I get help with funding?We offer the Thomson Reuters, Wiley
and Wilmott Scholarships, which provide funds to enable certain
individuals in specific situations to attend the Certificate in
Quantitative Finance. These awards will be made at the discretion
of the Scholarships Committee to outstanding candidates who meet
the scholarship requirements and who, in the opinion of the
committee, are deserving and will gain the most from the
program.
What level of mathematics is required?Delegates should have a
numerate academic qualification and should have familiarity with
spreadsheet and computational problem-solving. Delegates who feel
their mathematics is a little rusty are encouraged to complete our
pre-program Mathematics Primer (see page 11) prior to commencing
the CQF. This course is offered to CQF delegates at no extra
cost.
How do I apply?Simply go to www.cqf.com/apply and fill in the
application form. Class sizes are restricted and places are awarded
on a first-come, first-served basis, provided a delegates
application has been approved and the Mathematics Aptitude
Indicator has been completed successfully.
How long will it take to receive a decision on my
application?The CQF Admissions team will come back to you within 48
hours indicating whether you have been granted preliminary
acceptance onto the program.
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21
www.cqf.com
When do I need to submit the Mathematics Aptitude Indicator?We
advise all delegates to complete the application form first. They
should then start working through the Mathematics Aptitude
Indicator, and complete and return it by email before the start of
the program. Delegates are welcome to delay handing in the test
until after they have completed the Mathematics Primer.
What equipment do I need to view the webcast?To view the webcast
live or recorded, delegates will need a computer with a sound card
and a speaker. Delegates will also need broadband internet
access.
Can I sample a webcast?Absolutely, go to
www.cqf.com/sample-lecture and submit your details to get direct
access to free sample lecture videos.
How long will I have access to the recorded lectures
for?Delegates have permanent access to the recorded lectures.
What if it takes me longer to complete the program?If you cannot
complete the program within the allocated study time, we offer the
flexibility to defer completion of the CQF to the next program
(there is no charge for doing this and you must complete the CQF
within six programs).
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22
Our affiliatesWorking in partnership
WilmottWilmott is the leading resource for the quantitative
finance community with active users comprised of both practitioners
in financial services and academics involved in research and
teaching. It is led by Dr. Paul Wilmott, founder of the CQF.
CFA InstituteThe CFA Institute has a commitment to continuing
education (CE) and as such, CQF coursework is eligible for 40 CE
credits (equivalent to two years recommended minimum) and will be
automatically recorded in CFA Institute members CE Diaries.
GARPThe Global Association of Risk Professionals (GARP) is a
not-for-profit global membership organization dedicated to
preparing professionals and organizations to make better informed
risk decisions. CQF is registered with GARP as an Approved Provider
of continuing professional education (CPE) credits for FRMs and
ERPs. The CQF program qualifies for 40 credit hours.
WolframWolfram is one of the worlds most respected software
companies as well as a powerhouse of scientific and technical
innovation. A wide range of companies rely on Mathematica to
maintain their competitive edge in a sector which is constantly
changing and the CQF is proud to offer this software to its
delegates and alumni.
WileyWiley is a leading global publisher of scientific and
technical information. It publishes books authored by various CQF
faculty members, including the founder Dr. Paul Wilmott and Dr.
Espen Gaarder Haug, and works in conjunction with the program to
ensure the delivery of quality learning and teaching resources.
NAGThe Numerical Algorithms Group (NAG) delivers trusted,
high-quality numerical computing software and high performance
computing (HPC) services and prides itself on decades of research
and developments which form the foundation of its powerful,
flexible and accurate software. The software is relied upon by tens
of thousands of users, companies, and learning institutions as well
as numerous independent software vendors. NAG regularly works in
conjunction with the CQF program to deliver topical and informative
events and masterclasses.
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Contents
About the CQF ................................................
3
Your CQF journey ............................................
4
Diverse delegate profile ....................................
6
CQF alumni .....................................................
8
Online learning resources ..................................
9
Flexible program delivery
.................................10
Mathematics for Quantitative Finance Primer ......11
CQF program content ......................................12
Lifelong Learning
............................................15
CQF faculty
....................................................16
How to apply
..................................................19
FAQs
.............................................................20
Our affiliates
...................................................22
CERTIFICATE IN
FINANCE
CQF
Dr. Paul Wilmott CQF Program founder
Real-world financial engineering
Finance is an increasingly sophisticated and competitive sector
to work in and the demand for education in quantitative finance has
never been greater. With a focus on the practical implementation of
quantitative techniques, the Certificate in Quantitative Finance
(CQF) is taught by leading practitioners and is designed to help
you advance in the financial landscape Once you qualify, our
ever-expanding Lifelong Learning library will support you
throughout your career.
To date, more than 3000 professionals worldwide have completed
the program and the Certificate has gained global recognition as
the benchmark qualification for anyone in, or aspiring to enter,
the
sphere of quantitative finance.
-
Global Standard in Financial Engineering
Certificate in Quantitative Finance
CERTIFICATE IN
FINANCE
CQF
www.cqf.com
Delivered by4 Chiswell Street, London, EC1Y 4UP 55 Broad Street,
3rd Floor, New York, NY 1000436 Robinson Road, #12-06, Singapore
068877
2801, Tower 2, Lippo Centre, 89 Queensway, Hong KongDubai
International Financial Centre, Al Fattan Currency House, Tower 2,
Level 8, Office No. 804, PO Box 482058
www.cqf.com
EMEA
Geoff BrownE: [email protected]
T: +44 (0)20 7496 8636
AMERICAS
Matthew PotterE: [email protected]
T: +1 646 943 6208
APAC
Fiona PhamE: [email protected]
T: +65 6572 9417
Connecting quantitative finance professionals
The CQF Institute promotes the highest standards in practical
financial engineering and provides
a platform for educating and building the quantitative finance
community around the globe.
Become a member and gain access to industry white papers and
networking opportunities
through local societies.
Join the Institute at www.cqfinstitute.org
@CQFInstitute
Certificate in Quantitative Finance
