Professor Adrian Bell to present at the Financial Services Forum annual conference 2013

The ICMA Centre at Henley Business School, University of Reading is delighted to announce that students on seven of its Masters degrees will be granted the well regarded ICMA International Fixed Income and Derivatives (IFID) Certificate upon successful completion of their degree.

If you live in the UK, you may have seen the Channel 4 television programme on 28th February this year (2013) entitled ‘Bank on Dave’. Burnley Savings and Loans to give it its other name, is a company (not a bank) which offers 5% ‘deposit’ rates to lenders and offers loans to those who cannot obtain funding from the high street banks. So how does Dave do this when the high street banks offer no interest at all or perhaps only ½ or 1%? In fact ‘Dave’ is one of a new breed of ‘brokers’ who simply introduce lenders and borrowers to each other. The key difference from banks is that banks have a balance sheet with a depositor contract on one side and a separate contract with its borrowers on the other whereas a peer to peer company has no such contracts and indeed is not even involved at all in borrowing or lending! This is because in P2P, lending contracts are directly between borrower and lenders and the P2P company does not take ‘deposits’ on to its own balance sheet or keep the loans its customers make on its balance sheet.

Two of the ICMA Centres top performing MSc students were awarded with the Eurekahedge prize. First place was awarded to Vladimir Zdorovenin, MSc International Securities and Investment Banking, with Duncan Green, studying on the MSc Investment Management programme as the runner-up.