BA-402 · Lesson 4 of 9

The Certification Exam and Access Credentials

Learn how the exam is scheduled and conducted, how the result is communicated, and what happens after the Admission Decision.

11 min read Professional Exchange Trader Certification
Track contents BIMx Trading Infrastructure
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 Back to the track
BA-401 · The ARENA Trading PlatformARENA Trading and the BIMx Operating ModelThe BIMx Trading Session, State by State
BA-402 · Exchange Trader CertificationWho Can Become an Exchange TraderThe Certification Exam and Access Credentials
BA-403 · Trading SimulationsSimulations: The Dress Rehearsal Before the First Session
BA-404 · Becoming a BIMx MemberBecoming an Exchange Member, Step by StepClearing and Settlement Through the Single Central Securities Depository
BA-405 · The Broker's Role in Issuer AdmissionInitiating Participant and Intermediary ParticipantPreparing BVM Issuers and Municipal Bond Issues

Scheduling the session

Once the file is confirmed as complete, BIMx schedules the exam session and informs the broker and the candidate of the date, time, and place, respecting the notice period set in the Regulation. Along with the schedule, the candidate receives preparation materials: the detailed syllabus, sample questions, and the ARENA Platform User Guide.

The two parts of the exam

PartWhat it tests
TheoreticalThe BIMx Rules for the Regulated Market and the MTF, the relevant provisions on the Single Central Securities Depository, how the market works, order types, trading mechanisms, professional conduct, confidentiality, and the prevention of market abuse
TechnicalUsing the ARENA platform in a test environment: entering, modifying, and canceling orders, using the order types in the BIMx Rules, interpreting market information, and following access and password security procedures

The Admission Decision and system access

  1. The minutesThe result is not announced on the spot. Minutes of the session are drawn up, and the Listing and Operations Department makes a proposal.
  2. The Admission DecisionThe BIMx Executive Body issues the decision confirming which candidates passed. The decision is the sole act that completes the procedure: no individual certificates are issued.
  3. CommunicationThe decision is sent officially to the employing broker, which passes an extract on to the candidate.
  4. Access credentialsThe exchange trader receives an individual ARENA user ID and an initial password through a secure channel and is entered in the Register of Exchange Traders kept by BIMx.
  5. Notifying the CNPFBIMx notifies the CNPF of the certified exchange traders, as required by regulations.

Retakes and the exam fee

The Regulation does not limit the number of attempts. A candidate who fails may submit a new application, with no restriction on timing or frequency, provided all requirements are met. The exam fee is set in the BIMx Schedule of Fees and Commissions and is paid for each session, including retakes.

Key takeaways

  • When the exam is scheduled, the candidate receives the syllabus, sample questions, and the ARENA User Guide.
  • The exam has a theoretical and a technical part, both mandatory, with no offsetting between them.
  • The result is established by a decision of the Executive Body; no individual certificates are issued.
  • After the decision, the exchange trader receives an ARENA user ID and is entered in the Register of Exchange Traders.
  • The number of attempts is not limited, but the fee is paid for each session.

Check your knowledge

Answer all the questions. If you answer all of them correctly, the lesson is marked as completed automatically.

Question 1 of 3A candidate gets a perfect score on the theoretical part but fails the technical part. What is the result?

Explanation: Both parts are mandatory and do not offset each other, so failing the technical part means failing the exam.

Question 2 of 3Which document completes the certification procedure?

Explanation: The Admission Decision is the sole act that completes the procedure; no individual certificates are issued.

Question 3 of 3How many times can a candidate retake the certification exam?

Explanation: The Regulation sets no maximum number of attempts; each session requires a new application and payment of the fee.

Finished the lesson?Mark it as completed to track your progress.

Educational material only. It does not constitute investment, legal or tax advice. Numerical examples are hypothetical.