Financial Markets Regulatory Practices (FMRP) Examination

The Singapore Foreign Exchange Market Committee ("SFEMC") introduced the Financial Markets Regulatory Practices (FMRP) Examination in June 2012 as the professional certification programme for all dealers and brokers engaged in wholesale dealing of over-the-counter (OTC) foreign exchange, money market instruments and derivative products in Singapore.

The FMRP Exam focuses on assessing dealers & brokers' understanding of wholesale dealing practices and market conduct based on the Singapore Guide to Conduct & Market Practices for Treasury Activities (commonly referred to as "The SFEMC Blue Book"), as well as relevant Singapore laws and regulations. The purpose of the FMRP is to ensure that all market participants have sufficient knowledge that would guide them to act in a way that best safeguards the soundness of the financial markets.

Upcoming Revision to the FMRP Exam and FMRP Non-Examinable Course

The FMRP Examination will be updated based on key changes to the Blue Book, to include principles from the Foreign Exchange Global Code ("FX Global Code") and revised guidance on name disclosure, handling of client orders and recording of communications.

The revised FMRP Study Guide and Exam will be launched on 31 May 2018 and 29 June 2018 respectively. Individuals may register for the revised FMRP Exam from 1 June 2018. The new examination fees of $150 (IBF Members) / $180 (Non Members) will apply to the revised FMRP Exam.

Individuals who have are FMRP-certified before 29 June 2018 or who were exempted from the FMRP Exam at the time of introduction of the the FMRP in 2012, will be required to complete the FMRP NEC if they continue to be engaged in the wholesale financial markets in Singapore. The FMRP NEC will be available through th eLearn@IBF mobile app from 2 July 2018 to 31 December in 2018.

Useful Links

Blue Book FAQs - Applicability and changes to the Blue Book
FMRP FAQs and IBF Exams Rules & Regulations - Info on the FMRP Exam, NEC & Exam Admin matters
Learn@IBF User Guide  - Info on Learn@IBF for individual users

FI Admin User Guide - Info on Learn@IBF for FI Administrators of the FMRP NEC

•​ FMRP NEC Reporting Guid​​e​ - User Guide for FI Administrators to Download FMRP NEC Completion Data​

  • - Introduction
  • - Ethics, Behavioural Standards and Professional Conduct
  • - Confidentiality and Information Sharing
  • - Goverance, Risk Management and Compliance
  • - Execution and Handling of Orders
  • - Confirmation and Settlement
  • - Handling Market Disruptions
  • - Benchmark Rate Setting
  • Format: 100 MCQs (computer-based)
  • Duration: 2 hours
  • Pass mark: 75%

The exam results will be displayed on the computer screens after the exam. Printed result slips will not be issued.

Fees before GST
1st Attempt Subsequent Attempt
Corporate Members $150 $130
Non-Members $180 $160
This paper is eligible for IBF-STS Funding. Please click here​ for more information.​

There is no exemption for the FMRP Examination.

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