about the cmt 2016

Advancing the discipline of technical analysis for over 40 years.

Proprietary and confidential. Please do not redistribute or post on the Internet without written permission. The information provided does not constitute investment advice and it should not be relied on as such. All material has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. Past performance is not a guarantee of future results.

© 2015 Market Technicians Association, Inc.

The Chartered Market Technician Program

MTA History Began in 1970 in New York - Over 45 years on Wall St. Incorporated as a not-for-profit Association in 1973.

61 BROADWAY, SUITE 514 | NEW YORK, NY 10006 | PH: 646-652-3300 | WWW.MTA.ORG

Over 35,000 participants Nearly 5,000 Members & Affiliates

Representing over 85 countries•New Chapters: • Athens • Kuala Lumpur• Rio de Janeiro• Johannesburg• Caracas• Riyadh • Taipei


The MTA Today

Technical analysis provides the tools to successfully navigate the gap between intrinsic value and market price across all asset classes through a disciplined, systematic approach to market behavior and the law of supply and demand.


Philosophical Statement

THE GAPIntrinsic Value Market Price


Drivers of Intrinsic Value Cash flows from existing assets Growth in cash flows Quality of growth

Drivers of Price• Market moods & momentum• Surface stories about fundamentals

Accounting Estimates

Valuation Estimates

Sentiment

Supply & Demand

Slide originally published by Aswath Damodaran

Price versus ValueWhy is the market so often wrong?


Munehisa Homma1724-1803 Munehisa Homma, was a rice merchant from Sakata, Japan who traded in the Dojima Rice market in Osaka during the Tokugawa Shogunate.

Authored: The Foundation of Gold, 1755

Technicians are sought out for their market wisdom by hundreds of financial journals and reporting agencies in print, television and online media.


Bottom-up Demand


Shanghai Composite vs. New Trading Accounts


BEIJING BAOFENG

TECHNOLOGIES – IPO 23RD MARCH

29 Chinese IPO’s in April 2015ALL limit up EVERY day of the month

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20150

500

1000

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2500

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4000

4500Members


Membership Growth

• Analysts• Portfolio Managers• Strategists• Advisors• Traders• Quants• Allocators


Who are MTA Members?

Membership Growth

16%

17%

9%2%

55%

0%0%

Europe, Middle East or Africa

Asia

Canada

South & Central America

United States

Australia

Other


Global Distribution

Membership Growth

1% 23%

3%

7%

19%6%9%

20%

13%

Technical Analyst

Fundamental Analyst

Strategist

Portfolio Manager

Broker

Investment Advisor

Individual Investor/Trader

Other


Job Titles

Membership Growth

28%

43%

29%

1-5 Years6-15 YearsMore than 15 Years


Industry Tenure

To establish and maintain the highest professional standards among technical analysts by educating the investment community about the theory, practice and application of technical analysis.

To advance the discipline of technical analysis


The MTA Mission

CMT Program – Professional industry credential for Technical AnalysisKnowledge Base - Interactive, flexible, and dynamic repository of key Technical Analysis information. Technically Speaking – Monthly Magazine containing market research, articles, book reviews, interviews, etc…Educational Web Series – Global online presentations. Three live webcasts per month, archived for future reference.MyMTA – Professional network for MTA members only.


Executing our Mission

The Chartered Market Technician® (CMT) credential is the preeminent, global designation for practitioners of technical analysis. The designation is awarded to those who demonstrate mastery of a core body of knowledge of investment risk in portfolio management settings.

Exams offered in April/May and October each year.


The CMT Program

The CMT CurriculumThe CMT Curriculum ensures the candidates’ mastery of a professional body of knowledge

1) Risk Management2) Behavioral Finance Theory3) Determining price trends & patterns4) Trading Systems Design5) Intermarket Analysis 6) Applications across all asset classes

Published by Wiley


Level I Level II Level IIIMarkets 21% 16%Chart Development & Analysis 47% 36%Technical Investment Strategies 18% 13%System Testing 5% 10%Statistical Analysis 6% 7%Risk Management 15% 21%Asset Relationships 18%Portfolio Management 18%Classical Methods 21%Behavioral Finance 10%Volatility Analysis 7%Ethics & Standards of Practice 3% 3% 5%


The CMT Program

The MTA recently announced the adoption of the CFA code of ethics and standards of practice handbook. Candidates must understand the application to real world situations.

The Code of Ethics is now universal among CFA, CAIA and CMT charterholders.

You must pass the ethics portion of the Level III exam in order to complete the CMT Program.


MTA Code of Ethics

CMT Level One CMT Level Two CMT Level Three

73% Average Passing Rate since 2010 69% Average Passing

Rate since 2010 57.5% Average Passing Rate since 2010

69%Percentage of

candidates who passed fall ‘15

62%Percentage of


53%Percentage of



CMT Exams were administered at hundreds of test centers globally over the 3-day exam window

Exam Results


Test Administration - Prometric

The CMT Program…◦ Preeminent global designation for practitioners of technical analysis.

◦ Offers a structured approach to study technical analysis and ensure mastery of a comprehensive body of knowledge.

◦ Complimentary toolset to other analytical approaches such as macro-economic, fundamental, and quantitative methods.

◦ Offers immediate credibility & recognition


Value of the CMT Designation

◦ Qualifies for an exemption on the first level of the Series 86 exam, the "Registered Research Analyst" designation from FINRA

◦ Recognized by the Nebraska Department of Banking and Finance, under section 8-1102(1) of the Securities Act of Nebraska

◦ Curriculum is currently under review with the Investment Industry Regulatory Organization of Canada - IIROC.

◦ Countless measures taken with multinational banks, asset management firms, trusts, pensions and family offices to create greater awareness and employment opportunities for CMT Charterholders


Advocacy for Charterholders

Over 1,650 active charterholders

2,000 candidates enrolled in the CMT Program

Administered 2x a year: October and May

Jun-07 Jun-08 Jun-09 Jun-10 Jun-11 Jun-12 Jun-13 Jun-14 FEB0

200

400

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1400

1600

CMT Charterholders

CMT Charterholders


Top Down Demand


Gordon Scott, CMT– Director of CMT Studies Instructional Design, writing and training experience. Contact Gordon with any [email protected]

+1.646.652.3300

Direct Access to MTA HQ Staff

Enroll in the CMT Program1) Join the MTA2) Enroll in the CMT Program3) Register for each exam

www.MTA.org


Join the MTA as an Affiliate $325 annual membership dues

Enroll in the CMT Program $250 one-time registration fee

Level I Exam Registration $250

Level II Exam Registration $450

Level III Exam Registration $450

All candidates must maintain their MTA membershipThese fees do not include the cost of books.

Market Technicians Association61 Broadway, Suite 514

New York, New York 10006(+1) 646-652-3300

www.mta.org

http://www.mta.org/

about the cmt 2016

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