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Last Updated: Jun 16, 2026

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ICMA FMFQ Exam Syllabus Topics:

TopicDetails
Topic 1
  • Overview of the Financial Markets
  • Background to the capital markets
Topic 2
  • Introduction to the Foreign Exchange Markets Spot FX, Forward FX, Cross Rates
Topic 3
  • The key players in the financial markets including issuers, investors and intermediaries
  • The structure of the FX market
Topic 4
  • Core Features of Equity Products
  • Issuance and Trading Practice
  • Equity Valuation
Topic 5
  • The key features of both equity and debt products
  • Basics of the Derivatives Market

Reference: https://www.icmagroup.org/executive-education/courses/financial-markets-foundation-qualification-fmfq-2/

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