CFA Institute marks 50th Anniversary of the CFA Program

28 May 2012

CFA Institute marks 50th Anniversary of the CFA Program; Local Society opens New Zealand Stock Exchange on 29 May

Other Ceremonies Planned For Record-Setting 19 Stock Exchanges Worldwide

CFA Institute, the global association of investment professionals that sets the standard for professional excellence, will celebrate 50 years of the Chartered Financial Analyst program by closing the New York Stock Exchange and hosting ceremonies in 18 other financial centres around the world on Tuesday, 29 May. The global market ceremonies represent the greatest number of stock exchanges worldwide opened or closed by one organisation on a single day. The ceremonies set the stage for the following weekend, when more than 149,000 registered candidates from 168 countries will take the Level I, II and III CFA exams. The events usher in a year of celebration for CFA Institute, which offered the first CFA examination in June 1963.

The CFA charter sets the standard for investment practice and is the globally recognised benchmark for ethics in the profession. Following the first exam, 268 investment professionals were awarded the CFA charter. Nearly 50 years later, there are more than 100,000 charterholders in 137 countries and territories – representing the highest professional standards and competencies in the global investment community.

“There is no better way to celebrate the success and international impact of the CFA Program than with a global event of this magnitude,” said John D Rogers CFA, president and CEO of CFA Institute. “The CFA Program has grown tremendously since the very first exam, expanding to more than 100,000 charterholders who practise the highest level of professional and ethical standards. The financial industry has faced many challenges since the inception of the program, and I’m proud of the impact CFA Institute continues to have on ethics, education and excellence in the profession.”

The CFA Society of New Zealand will open the New Zealand Stock Exchange and members of the Society will celebrate the occasion in both Wellington and Auckland.

In addition to opening the New Zealand Stock Exchange, CFA Institute and its member societies will host ceremonies in the following locations on 29 May:
• Amman Stock Exchange (ASE)
• Amsterdam Stock Exchange (AEX)
• Athens Stock Exchange (ATHEX)
• Bahrain Bourse (BSE)
• Bombay Stock Exchange (BOM)
• Brussels Stock Exchange (BSE)
• Bucharest Stock Exchange (BVB)
• Budapest Stock Exchange (BSE)
• Bulgaria Stock Exchange (BUL)
• Colombo Stock Exchange (CSE)
• Dubai Financial Markets (DFM) and NASDAQ Dubai
• Egyptian Exchange (EGX)
• Hong Kong Stock Exchange (HKEX)
• Indonesia Stock Exchange (IDX)
• Kuwait Stock Exchange (KSE)
• London Stock Exchange (LSE)
• Mauritius Stock Exchange (MAU)
• Mexican Stock Exchange (BMV)
• Moscow Stock Exchange (MICEX)
• Nairobi Stock Exchange (NSE)
• New York Stock Exchange (NYSE)
• Paris Stock Exchange (PAR)
• Prague Stock Exchange (PSE)
• Singapore Exchange (SGX)
• Stock Exchange of Thailand (SET)
• Toronto Stock Exchange (TSX)

The original CFA Program focused on equity security analysts in a US setting and emphasised ethical and professional standards. Today, the Program represents a global context, and covers topics such as fixed-income analysis, alternative and derivative investments and portfolio management. CFA Institute traces its roots to the establishment of the Financial Analysts Federation in 1947, following the call for a financial analyst certification by industry giant Benjamin Graham in 1942. FAF leaders created the Institute of Chartered Financial Analysts in 1959 to administer the CFA Program, and the two organisations merged in 1990 to form what is now CFA Institute.

About the CFA Institute and the CFA Society of New Zealand:
The CFA Institute is the global, non-profit professional association that sets the standard for professional excellence and credentials. The organisation is a champion for ethical behaviour in investment markets and a respected souce of knowledge in the global financial community. The end goal: to create an environment where investors’ interests come first, markets function at their best, and economies grow. CFA Institute has more than 110,000 members in 139 countries and territories, including 100,000 CFA charterholders. For more information, please visit www.cfainstitute.org.

The CFA Society of New Zealand is the only affiliated body of the CFA Institute in New Zealand. It was founded in 2000 as the New Zealand Society of Investment Professionals (NZSIP) with 15 founding members, mostly CFA charterholders. It is growing rapidly with over 230 members currently and many candidates registered in the CFA examination program. The NZSIP changed its name in December 2004 to the CFA Society of New Zealand. Membership includes securities analysts, fund managers and investment advisers. For more information, please visit www.cfasociety.org.nz.

ENDS

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