The World Federation of Exchanges (“The WFE”), the global industry group for exchanges and CCPs, has opened applications for its 2026 Market Infrastructure Certificate (MIC) programme. 

The MIC is designed to develop the next generation of financial services leaders who work with the institutions that underpin global public markets including exchanges, clearing and settlement organisations, central counterparties, payment systems, and central securities depositories. 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. Our 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 programme is delivered in partnership with Bayes Business School (formerly Cass), which is part of City, University of London. It is at the same level as an MSc (i.e., Higher Education Level 7 in the UK). 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 programme focuses both on the theoretical and practical aspects of market infrastructures (MIs) and features both an online and residential component. The online component includes recorded sessions which participants can access at any time and a series of live interactive webinars. The residential component comprises a residential academic week in London and an industry practitioner week, with sessions run by the leaders of the market infrastructure space, which will be hosted by Cboe, in Chicago, USA. 

The programme begins on 1st September 2026, with the London residential week running from 21st-25th September 2026, and the Chicago residential week running from 26th-30th October 2026. Teaching will complete on 4th December 2026 and final projects will be submitted in January 2027.

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, said, “We developed the Market Infrastructure Certificate to meet the learning needs of professionals who want to gain valuable insights on the key issues shaping our industry. Our growing alumni base represents the next generation of industry leaders who have chosen to deepen their understanding into the processes, infrastructure, and stakeholders that underpin the financial ecosystem.”   

Please click here to go to the MIC page on our website which contains all details including the 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.

For more on the WFE’s educational programmes, see here.