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  • A highly technical programme designed for candidates with strong mathematical skills
  • Gain knowledge of derivatives pricing tools and methods, as well as the use of programming languages such as C++,VBA and Python
  • Benefit from the combined expertiseof both the ICMA Centre and the Department of Mathematics
  • Be taught in a small-classroom setting for the specialist modules of the programme
  • Enhance your employability skills with our practice-oriented learning approach including the latest technology and financial software

Course overview

The ICMA Centre’s financial engineering degree is highly respected by quant analysts and departments. The need to develop more effective pricing and hedging models for complex financial products is more important than ever following the most recent global financial crisis. The quantitative finance skills that you will develop on the programme are sought after by major employers in the sector.

Our compulsory modules provide a firm grounding in probability theory, stochastic calculus, derivatives pricing, quantitative and numerical methods, structuring products, volatility analysis, and the modelling of credit, equity, foreign exchange and interest rate derivatives. We also provide a thorough training in C++ and other programming tools.

Optional modules will allow you to focus on risk analysis, portfolio management, designing trading strategies or econometric analysis. A good background in mathematics is required for acceptance to this programme (see entry requirements).

Learning options

Full-time: 9 months

Full-time: 12 months

Students will be resident and undertake full-time study in the UK. Under both, the 9 and 12-month programmes students take compulsory and/or elective modules in Part 2.

The 12 month option involves taking an elective 20 credit module between July and August, which would also mean a 20 credit reduction in the number of taught modules taken in the spring term.

Course structure

October – December: Part 1 Autumn Term

January: Part 1 Exams

January-April: Part 2 Spring Term

May – June: Part 2 Exams

June – August (12 month programme only): Part 3

August/Sep (12 month programme only): Part 3 Coursework deadlines

Careers

Many of our financial engineering graduates are now working as Quants in large London banks and other financial institutions. Others have pursued PhDs and have successful academic careers. Financial instruments are becoming ever more sophisticated, so graduates that understand complex modelling techniques are always in great demand. The high quantitative content of this programme opens many doors to a wide range of careers. You could structure and develop new debt or equity solutions to meet clients funding and hedging needs, or you could become a proprietary trader in exotic derivatives, or a software specialist or a quantitative analyst supporting the traders.

There are excellent opportunities on the buy-side, with hedge funds and investment institutions, as well as in investment banking and in software analytics. Opportunities in quantitative research, or with a rating agency, are among the many other attractive alternatives. Outside of mainstream banking and investment, you might also consider firms involved in commodity and energy trading, or the treasury divisions of leading multinationals and management consultancies.

Find out more about graduate destinations and career opportunities on our Henley Careers page

Professional accreditation

ICMA Fixed Income Certificate

To obtain the requisite knowledge to pass the rigorous FIC exam, students are required to take the ICMA Centre Fixed Income Cash and Derivatives Markets module at Part 2. In order to receive the FIC certificate, students will need to register and pass the FIC exam through ICMA.

Further information is available regarding exemptions in MScs and Professional Qualifications


Visit the Financial Engineering MSc page on the University of Reading website for more details!

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