Today the World Federation of Exchanges (“The WFE”), the global industry group for exchanges and CCPs, opened applications for its 2025 Market Infrastructure Certificate (MIC) programme.
The programme, the first and only one of its kind, aims to educate the next generation of financial services leaders. It helps those that need to engage with, and understand, the functioning and role of the organisations that underpin public markets such as exchanges, clearing and settlement organisations, central counterparties, payment systems, and central securities depositories.
Working with its university educational partner, Bayes Business School (formerly Cass), which is part of City, University of London, the WFE’s MIC serves the learning needs of senior managers and mid-career professionals.
The MIC alumni come from a range of geographies, organisations and roles. Working in diverse areas from Risk, to Product, Cyber, Sustainability, Communications and many more. The qualification is relevant to all professionals working and interacting with public markets, from central banks, buy-side and sell-side firms, exchanges, clearing houses and regulatory bodies. The programme supports the students to enhance their business network and form valuable connections with their peers and other industry professionals on the course.
MIC candidates who successfully complete the programme will be awarded a postgraduate certificate, the Market Infrastructure Certificate, and receive 60 credits from Bayes Business School, City University of London. The MIC is at the same level as an MSc (i.e., Higher Education Level 7 in the UK).
The programme focuses both on the theoretical and practical aspects of market infrastructures (MIs) and features an online and a residential component. The online component includes recorded sessions which participants can access at a time convenient to them and a series of live interactive webinars. The residential component consists of a residential academic week in London and an industry practitioner week which will be hosted by Cboe, in Chicago, USA.
The programme begins on 1st September 2025, with the London residential week running from 22nd-26th September 2025, and the Chicago residential week will run from 27th-31st October 2025. The teaching will complete on 12th December 2025 and final projects will be submitted in January 2026.
On successful completion of the programme candidates will have:
- Developed a broader and deeper knowledge of how MIs operate, their interrelations, their regulatory environment, and their role in achieving financial stability and supporting sustainable and inclusive economic growth.
- An updated knowledge of the current best practices in MIs.
- A deeper understanding of how different risks are managed by each MI.
- Assessed the implications of recent financial and technological innovations.
- Studied the role of ESG and ethics in the working of modern MIs.
Nandini Sukumar, CEO of The WFE commented: “As part of our mission to educate stakeholders on how exchanges and CCPs serve the economy, we created the Market Infrastructure Certificate to address the educational needs of industry professionals eager to explore and learn about the key topics impacting the industry. We are excited to open applications for the next cohort of MIC candidates. Our alumni are the next generation of industry leaders, who are committed to advancing their careers and gaining insights into the market infrastructures fundamental to global financial systems.”
Please click here to go to the MIC page on the WFE website which contains all details including application, course dates and fees. Applications are reviewed on a first come first served basis and will close once the course intake limit is filled.
