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Chartered Market Technician® (CMT)

Technical analysis provides the tools to successfully navigate the persistent gap between intrinsic value and market price across all asset classes by focusing on market behavior and the law of supply and demand.


 

What is the CMT® Program?

Chartered Market Technician - CMT - Technical AnalysisThe Chartered Market Technician® (CMT) credential is the global standard for practitioners of technical analysis and technical risk management. It is a FINRA-recognized designation which sets apart CMT charterholders as specialists and value-generators among active investment professionals.

The designation is awarded to those who demonstrate mastery of a core body of knowledge in risk management and portfolio management settings. The advanced technical expertise represented by the CMT charter immediately communicates to clients and employers the disciplined approach, academic rigor, and unique professional skill set which CMT charterholders possess.

The objectives of the CMT Program are:

  • To promote high ethical standards of education, integrity, and professional excellence
  • To guide candidates in mastering a professional body of knowledge
  • To professionalize the discipline of technical analysis

Those candidates who successfully complete all three levels of the CMT examination and agree to abide by the MTA Code of Ethics are granted the right to use the CMT credential.

 

What Will You Learn?

CMT Learning ObjectivesThe CMT Program is offered in a self-study format. There are three levels of exams, each one building on the previous. The levels progressively narrow in focus while increasing the emphasis on higher-order reasoning.

The final exam requires candidates to implement critical analysis to arrive at well-supported recommendations in a professional investing/trading context.

 

The curriculum is organized into exam-specific knowledge domains that provide a framework for recognizing and implementing investment and trading opportunity.

Level I

I. Theory & History
II. Markets
III. Market Indicators
IV. Construction
V. Trend Analysis
VI. Chart & Pattern Analysis
VII. Confirmation
VIII. Cycles
IX. Selection & Decision
X. System Testing
XI. Statistical Analysis
XII. Ethics

 

Level II

I. Theory & History
II. Market Indicators
III. Construction
IV. Trend Aanalysis
V. Chart & Pattern Analysis
VI. Confirmation
VII. Cycles
VIII. Selection & Decision
IX. System Testing
X. Risk Management
XI. Statistical Analysis
XII. Ethics

 

Level III

I. Risk Management
II. Asset Relationships
III. Portfolio Management
IV. Classical Methods
V. Behavioral Finance
VI. Volatility Analysis
VII. Ethics

 

Complete details of the topics, question weightings and learning objectives are available for each level of the exam here:

 

Value of the CMT Charter

Jobs Enhanced by the CMT Charter

TIMELY EXPERTISE. The CMT body of knowledge is reviewed under a framework for continuous improvement so that it comprises best practices and current methods of practitioners around the world. CMT charterholders not only know what to look for in an investment opportunity, but they also know where and when to look for it.

GLOBAL APPLICABILITY. Distinguish yourself by employing skills and insights transferrable across all liquid global markets and asset classes. Technical analysis allows investment professionals to read price, quantify risk and adjust allocation in any asset class along any investment horizon.

DIFERENTIATED VALUE. Join a growing, exclusive network of industry-leading professionals passionate about market dynamics and fluent in quantifying opportunities and risk. Bring recognized methods and analytics for capturing growth through strategic investment and tactical trading opportunity to your firm.

ETHICS CONTINUITY. Leverage the value of your training in ethical finance under a universal standard. The MTA recently adopted the CFA Code of Ethics & Standards of Professional Conduct for use in the CMT Program curriculum. Be assured that CMT charterholders’ ethics are current with the best industry standard for ethics instruction.

 

Regulatory Recognition

The MTA's strategic imperatives require continuous investments to increase the overall visibility of the CMT designation with various regulatory bodies for increased acknowledgment and approval while making it more widely recognized by hiring managers to ensure that CMT remains the global standard for technical analysts. 

In the USA, FINRA has amended Rule 1050 to provide an exemption from the analysis portion of the Research Analyst Qualification Examination (Series 86) for applicants who have passed Levels I and II of the Chartered Market Technician® (CMT) Program. To view complete information about applying for your exemption on the Registered Research Analyst (Series 86) from FINRA, click here.

This interview details the advocacy efforts of the MTA in 2004 & 2005 made on behalf of CMT charterholders:

 

CMT Program Fees

Program Enrollment

US $250

Level I Exam Registration

US $250

Level II Exam Registration

US $450

Level III Exam Registration

US $450

Annual Membership Dues

US $325

 

CMT Exam Results

CMT Level 1

CMT Level 2

CMT Level 3

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 in prior administration

62%

Percentage of candidates who passed in prior administration

53%

Percentage of candidates who passed in prior administration

 

Requirements to Earn the Charter

  1. Join the Market Technicians Association as an Affiliate member.

  2. Enroll in the CMT Program to become a candidate. To do so, you must:

    • Be prepared to take the exams in English.
    • Have a valid international passport.
    • Meet the professional conduct admission criteria.

  3. Pass the Level I Exam (May or October).

  4. Pass the Level II Exam (May or October).

  5. Pass the Level III Exam (May or October).

  6. Complete the Membership Application and attain approval from the MTA Admissions Committee. Admission to Member status indicates that you meet the following professional criteria:

    (A) Member status is reserved for those whose professional efforts are spent practicing financial technical analysis that is either made available to the investing public or becomes a primary input into an active portfolio management process or for whom technical analysis is a primary basis of their professional investment decision making process.

    (B) An applicant for Member must have been gainfully employed in a professional analytical or investment management capacity for a minimum period of five (5) years and must be regularly engaged in this capacity at the time of application. The Board may in exceptional circumstances waive the requirement of current employment. The five year period may be waived to three years for applicants who have successfully completed all of the requirements of the Chartered Market Technician (CMT) program.

The MTA headquarter staff has worked with the Admissions Committee and select MTA volunteers to create a document that explains the process, responsibilities, and most importantly the benefits of not only being a Member candidate but also for those willing to be sponsors.

View the "Membership Process Explained; A Guide for Member Candidates and Sponsors".

 

Upcoming Exam Administration

  • The CMT Level I Exam will be offered worldwide on October 15th-17th 2015
  • The CMT Level II Exam will be offered worldwide on October 15th-17th, 2015
  • The CMT Level III Exam will be offered worldwide on October 15th, 2015

Registration and Scheduling at Prometric for CMT Level III closes on September 15th, 2015 at 2 PM. For help in scheduling your exam, please email Marie Penza at marie@mta.org.

Seats are granted based on availability. To ensure your seat, please sign up as soon as possible.

 

 


Non-Disclosure Agreement & General Terms of Use for Exams Developed for the CMT Exam
This exam is confidential and proprietary, and is protected by trade secret and other intellectual property laws. It is made available to you, the examinee, solely for the purpose of becoming accredited in the technical area references in the title of this exam. You are expressly prohibited from disclosing, publishing, reproducing, or transmitting this exam in whole or in part, in any form or by any means, verbal or written, electronic or mechanical, for any purpose, without the prior express written permission of the Market Technicians Association


Registration is Now Open!

CMT Informational Session

- Frequently Asked Questions -


CMT Study Materials

Curriculum Reading Lists
Alternative curriculum reading lists for candidates preparing for the CMT Exam.
- Level I Reading
- Level II Reading
- Level III Reading

CMT Sample Questions
Practice exams designed to aide your study preparation for each level of the CMT Program.
- Under Development

Archived CMT Study Sessions
The archives of the former CMT Institute Preparation Courses that were previously offered by MTA.
Level I - Level II - Level III

CMT Newsletter
The CMT Newsletter is a bi-weekly publication sent to all those enrolled in the CMT Program.
View the archives


CMT Quick Links

Forms & Exemptions
Learn more about how to apply for exemptions and download templates for forms.
Series 86 Exemption - SEC Form ADV

Testing Center Guidelines
Find out how to locate a Prometric testing center that is close to your location!
    View »

Registration Fees & Policies
See a complete breakdown of all registration fees.
    View »


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