Computing for Financial Markets MSc/Postgraduate Diploma/Postgraduate Certificate

Financial Computing

www.cs.stir.ac.uk/entrants/cfm

The banking and financial sectors are heavily dependent on computer systems. Analyses of the stock market and processing of everyday banking transactions are based on computer systems. This programme covers the application and development of computer technologies as used in banking and financial systems, as well as financial and economic principles. This allows you to acquire knowledge in three areas: computing, economics and finance, together with the analytical skills required for a successful career in the financial sector.

The programme has a distinct international dimension as financial markets today are international in scope: trading in equities, bonds, derivatives and other securities occurs across borders and on a global scale. The programme emphasises the key characteristics of today’s globalised financial world.

Programme Objectives

The MSc in Computing for Financial Markets is a one-year programme for those who wish to obtain an up-to-date knowledge of computing technologies used within the financial sector, including decision support systems, object-oriented design and programming, and databases.

The programme further includes key financial and economic topics, such as the pricing and use of derivative financial products and portfolio management. The programme also offers a more detailed view of energy markets and environmental finance.

The MSc in Computing for Financial Markets will significantly enhance the employment prospects of students. Career prospects for computing postgraduates in the financial sector are excellent. You will have expertise in the computing, financial and economics fields making you an ideal candidate for positions in the financial sector. You will have gained specific vocational skills in the design and development of computer applications and networks plus expertise in financial tools and markets.

Entrance Requirements

Applicants normally require a first or second class Honours Degree from an institution recognised by the University of Stirling.

English Language Requirements

If English is not your first language, you must provide evidence of your proficiency such as a minimum IELTS score of 6 (minimum 5 in each skill) or TOEFL 550/213/79 (Paper/Computer/Internet).

Funding

Support for the Diploma element of the programme is available from the Student Awards Agency for Scotland (SAAS) for eligible Scottish and EU students on a quota basis. Details are available from www.saas.gov.uk

To be eligible for SAAS awards applicants must be normally resident in Scotland or be non-British European Community residents.

For further information on possible sources of funding: www.stir.ac.uk/postgrad/finance

Modes of Study

Full-time:

MSc: 1 year; Diploma: 9 months

Programme Start Date

September

Programme Directors

Dr Mario Kolberg

Department of Computing Science & Mathematics

Structure and Content

The programme comprises three elements: two 15-week semesters of taught modules and a three-month dissertation. Semester 1 concentrates on fundamental techniques. Semester 2 integrates, develops and applies these skills.

In the Autumn semester you will take the following modules:

• Financial Economics: Financial instruments and how they are traded; the key tools used by financial economists; the major topics in financial economics including portfolio theory, diversification and mean variance analysis; asset-pricing models, efficient market hypothesis and market anomalies; the pricing of bonds, stocks, and other financial instruments.
• Quantitative Methods in Finance: The statistical and computing skills which are necessary to understand fully and perform modern financial analysis.
• Principles and Practice of Programming: This module will cover the design and testing of programs written in Java. You will study good practice in program construction, programming with data structures and graphical user interfaces.
• Database Principles and Applications: This module provides a critical understanding of the role of database management systems and the ability to creatively design and implement practical databases.

During the Winter break there is an extended programming assignment using Java.

Then, in the Spring semester you will study:

• Decision Support Systems: This module covers the use of IT methods and techniques in the support of decision-making in organisations, in particular modelling, simulation and intelligent decision support systems.

Plus one of each of the following three pairs of modules:

• Object-oriented Software Design: This module focuses on how to analyse and model requirements and develop object-oriented software, through the use of UML and CASE tools.
• Networking: This module investigates the principles of data communications, including layered network architecture, services and protocols, such as TCP/IP, SMTP and SNMP.
• Derivatives: This module provides an understanding of the uses and the valuation of the main derivative financial instruments. It covers the trading mechanisms used on derivative markets and explains the fundamental principles underlying the pricing of derivatives and their use in portfolio management, and risk management.
• Investments and Portfolio Management: This module provides an understanding of portfolio management principles and the valuation of equities and fixed-interest securities. The basic principles of modern portfolio theory and asset pricing are applied to the asset allocation decision and the measurement of portfolio performance.
• Energy Markets: The function of the major markets for energy: oil, coal, natural gas, electric power, and alternative/renewable energy in a national and international context; the environmental issues related to energy use and consumption; the effect on energy markets of national and international environmental policy.
• Environmental Finance: An introduction to the field of environmental finance, encompassing all instruments designed to transfer environmental risk and to generate environmental quality.
  

You may graduate with the Postgraduate Diploma after two taught semesters, or you may continue with a three-month project and dissertation to qualify for the award of the MSc degree. The subject of the dissertation will usually be a computer application for a financial purpose.

Timetable

Contact the Department for information on your timetable and reading lists.

Career Opportunities

This MSc will significantly enhance the employment prospects of students. Career prospects for computing postgraduates are excellent and are likely to remain so.

Stirling computing graduates have a good track record in finding well-paid jobs and have been very successful in obtaining suitable employment – some with small companies, others with major international organisations, as well as with local authority and government bodies.

Research Opportunities

Our main strands of research are:

• Applied Formal Methods: Practical techniques; tools for supporting the development of correct systems (hardware and software); theoretical aspects; application to biological and medical systems
• Computational Intelligence:New techniques based on biology and naturally-occurring systems are applied to problems in a wide range of disciplines, from neural systems to control systems to dementia diagnosis
• Communications and Service Engineering: Creation and deployment of software-based communications services; traditional telephony and new developments in internet telephony; home networks; care delivery; web services; grid computing; presence and availability; policy-based control
• Care Technology:a multi-disciplinary research group spanning Computing Science, Mathematics, Management, Nursing and Midwifery, and Psychology, with research interests including medical, home monitoring, decision making, safety-critical medical systems and interfaces for computer users with impairments
• Mathematical Biology:Applied mathematics research at Stirling is centred on the Mathematical Biology Research Group. We work on: the dynamics and control of infectious diseases in animals and plants; scaling from individuals up to population-level behaviour; Bayesian parameter estimation techniques for stochastic models; models of contact networks; evolution of populations and age/stage structured population dynamics

More detailed information about the research interests of the Department is available at: www.cs.stir.ac.uk/research

Research Centres

The Department has informal links with centres in a number of Departments, e.g. Applied Social Science (Centre for Ageing Research), Nursing and Midwifery (Cancer Care Centre), and Psychology.

RAE Rating

The UK-wide Research Assessment Exercise (RAE) confirmed the quality of the work being done by our researchers. 85% of the University of Stirling’s research has been judged to be internationally excellent and internationally recognised, with the top 10% of that judged to be world class.

View the full outcomes of Stirling’s RAE performance

Use the online enquiry service to find out more or to request a prospectus.

If you are ready to apply you can fill out an online application form now.