Market Technicians Association
Encyclopedia
The Market Technicians Association (MTA) is a non-profit, global, professional organization of Technical Analysts based out of New York City. The MTA seeks to educate the financial community and public, increase the use of Technical Analysis
, and maintain standards of expertise and ethics among technicians. The MTA certifies that an individual is competent in the use of technical analysis via the Chartered Market Technician
(CMT) designation.
The MTA's Chartered Market Technician
(CMT) program emerged after significant work in second half of the 1980s. The first tests were given and the first CMTs were granted in 1989. In 2005 the NASD (now FINRA) submitted a rule filing with the Securities and Exchange Commission to accept the CMT 1 and 2 as an alternative to the series 86 examination required of financial analysts.
Through most of the early years of its history, the MTA was located in various downtown New York City locations, usually in a shared space of other friendly associations (i.e., NY Institute of Finance [NYIF]; later the NY Society of Security Analysts [NYSSA]). In September, 2001 the MTA was in the World Trade Center
when the Twin Towers fell.
The MTA quickly relocated to space in Woodbridge, New Jersey (approximately 10 miles from downtown NYC) and actively worked at building back its library of resources through, in large measure, through the donations of members and friends of the MTA. The MTA moved back to a new downtown NYC location in early 2007, located at 61 Broadway—Suite 514, NY, NY 10006, which is within one block of the New York Stock Exchange (NYSE).
The MTA has the following stated mission:
The MTA mission is accomplished through the effective execution of a wide variety of professional services including, but not limited to, seminars, local region/chapter meetings, the maintenance of an extensive library of technical analysis material and the regular publication of newsletters and journals.
MTA members and affiliates include technical analysts, portfolio managers, investment advisors, market letter writers and others involved in the technical aspects of equities, futures, options, fixed income securities, currencies, international markets, derivatives, etc.
Services provided to members and affiliates are performed by a small NYC based Headquarter staff, an active Board of Directors, Committee Chairs and an extensive cadre of volunteers located in both U.S. and non-U.S. markets.
program is the examination series that demonstrates proficiency in technical analysis. Candidates who pass the program's three examination levels, and who are also full members of the MTA, earn the Chartered Market Technician designation (CMT), certifying that the individual is competent in the use of technical analysis.
In February 2005, the U.S. Securities and Exchange Commission recognized levels 1 and 2 of the CMT exam as an alternative to the Series 86 Examination, as part of the rule changes filed by the Financial Industry Regulatory Authority
(FINRA) and NYSE. http://www.sec.gov/rules/sro/nasd/34-51240.pdf This recognition on the part of securities regulators and the self-governing bodies of the securities industry provided significant new credibility to technical analysis.
s (36%) comprise most of the MTA's members, along with portfolio manager
s (23%) and broker
s (20%). The MTA is governed by a 12-member http://www.mta.org/eweb/DynamicPage.aspx?webcode=board board of directors. David Keller is the current president. Past presidents include Ralph Acampora, Phil Roth, Charles Comer, Gail M. Dudack, Mike Epstein, Bruce M. Kamich, David Krell (co-founder and CEO of the International Securities Exchange), Jordan Kotick, Fred Meissner, Robert Prechter
, Alan R. Shaw, and Larry Berman.
, Harvard Business School
, Columbia University
, the Massachusetts Institute of Technology
, and the University of Chicago
.
The foundation's mission has expanded to include the creation and support of a complete technical analysis curriculum, which is now being taught in classrooms at numerous colleges and universities across the country. The University of Richmond
in Virginia
offered the first fully accredited course in technical analysis in 1996; today more than 20 business schools offer such courses.
The foundation also has an active outreach to financial professionals, via sponsored courses at the New York Society of Security Analysts, the Boston Security Analysts Society and the Centro Studi Bancari in Lugano
, Switzerland
. The foundation's board of directors includes distinguished university professors and Wall Street professionals.
Technical analysis
In finance, technical analysis is security analysis discipline for forecasting the direction of prices through the study of past market data, primarily price and volume. Behavioral economics and quantitative analysis incorporate technical analysis, which being an aspect of active management stands...
, and maintain standards of expertise and ethics among technicians. The MTA certifies that an individual is competent in the use of technical analysis via the Chartered Market Technician
Chartered Market Technician
Chartered Market Technician is a professional designation that confirms proficiency in technical analysis of the financial markets. To hold the designation, membership in the Market Technicians Association is required....
(CMT) designation.
History
The Market Technicians Association (MTA) was incorporated as a not-for-profit Association in 1973, but began holding meetings as early as 1971. There were 18 charter members in 1973, but the three “founders” are considered to be Ralph Acampora, John Brooks and John Greeley. These charter members found that they were doing the same thing for a living (practicing technical analysis), and believed there should be an organization similar to the one that already existed for fundamental analysts. At first, the MTA was a New York based group, however, as it became apparent that there were technical analysts all over the globe, the MTA transformed first to a U.S. based and eventually to a global professional association.The MTA's Chartered Market Technician
Chartered Market Technician
Chartered Market Technician is a professional designation that confirms proficiency in technical analysis of the financial markets. To hold the designation, membership in the Market Technicians Association is required....
(CMT) program emerged after significant work in second half of the 1980s. The first tests were given and the first CMTs were granted in 1989. In 2005 the NASD (now FINRA) submitted a rule filing with the Securities and Exchange Commission to accept the CMT 1 and 2 as an alternative to the series 86 examination required of financial analysts.
Through most of the early years of its history, the MTA was located in various downtown New York City locations, usually in a shared space of other friendly associations (i.e., NY Institute of Finance [NYIF]; later the NY Society of Security Analysts [NYSSA]). In September, 2001 the MTA was in the World Trade Center
World Trade Center
The original World Trade Center was a complex with seven buildings featuring landmark twin towers in Lower Manhattan, New York City, United States. The complex opened on April 4, 1973, and was destroyed in 2001 during the September 11 attacks. The site is currently being rebuilt with five new...
when the Twin Towers fell.
The MTA quickly relocated to space in Woodbridge, New Jersey (approximately 10 miles from downtown NYC) and actively worked at building back its library of resources through, in large measure, through the donations of members and friends of the MTA. The MTA moved back to a new downtown NYC location in early 2007, located at 61 Broadway—Suite 514, NY, NY 10006, which is within one block of the New York Stock Exchange (NYSE).
Mission
The MTA is a not-for-profit professional regulatory organization servicing over 4,100 market analysis professionals in over 75 countries around the globe. The MTA’s main objectives involve the education of the public, the investment community and its membership in the theory, practice and application of technical analysis.The MTA has the following stated mission:
- Attract and retain a membership of professionals devoting their efforts to using and expanding the field of technical analysis and sharing their body of knowledge with their fellow members.
- Establish, maintain, and encourage the highest standards of professional competence and ethics among technical analysts.
- Educate the public and the investment community of the value and universality of technical analysis.
The MTA mission is accomplished through the effective execution of a wide variety of professional services including, but not limited to, seminars, local region/chapter meetings, the maintenance of an extensive library of technical analysis material and the regular publication of newsletters and journals.
MTA members and affiliates include technical analysts, portfolio managers, investment advisors, market letter writers and others involved in the technical aspects of equities, futures, options, fixed income securities, currencies, international markets, derivatives, etc.
Services provided to members and affiliates are performed by a small NYC based Headquarter staff, an active Board of Directors, Committee Chairs and an extensive cadre of volunteers located in both U.S. and non-U.S. markets.
Strategic imperatives
Over the course of six months, the Board and staff of the MTA engaged the membership in discussions regarding the key goals of the Association. Taken together with the MTA's current three-tenet mission statement, these imperatives constitute a living document that will change over time, and serve to direct the Association toward its key functions and objectives.- Increase the Market Technicians Association's penetration in public and investment communities around the world with the goal of increased visibility for technical market analysis and increased benefits for local MTA members.
- Update our technology for members and prospective members through better web design.
- Ensure the Chartered Market Technician designation is unassailable as the most credible accreditation for professionals demonstrating proficiency in the field of technical market analysis.
- Ensure that the Market Technicians Association is the leading repository and disseminator of quality technical market analysis knowledge and education.
- Proactively assist membership in understanding technical analysis job dynamics by providing tools for success.
- Expand marketing of technical market analysis and the value of the Chartered Market Technician designation within each market our members operate.
- Actively support technical market analysis collaboration globally.
- The MTA maintains a healthy, positive, and professional community to support our staff and volunteers alike, each of whom are critically important in achieving our mission.
Chartered Market Technician
As with other professional organizations that establish standards of competence for members, so the MTA provides a recognized standard of proficiency: The Chartered Market TechnicianChartered Market Technician
Chartered Market Technician is a professional designation that confirms proficiency in technical analysis of the financial markets. To hold the designation, membership in the Market Technicians Association is required....
program is the examination series that demonstrates proficiency in technical analysis. Candidates who pass the program's three examination levels, and who are also full members of the MTA, earn the Chartered Market Technician designation (CMT), certifying that the individual is competent in the use of technical analysis.
In February 2005, the U.S. Securities and Exchange Commission recognized levels 1 and 2 of the CMT exam as an alternative to the Series 86 Examination, as part of the rule changes filed by the Financial Industry Regulatory Authority
Financial Industry Regulatory Authority
In the United States, the Financial Industry Regulatory Authority, Inc., or FINRA, is a private corporation that acts as a self-regulatory organization . FINRA is the successor to the National Association of Securities Dealers, Inc. ...
(FINRA) and NYSE. http://www.sec.gov/rules/sro/nasd/34-51240.pdf This recognition on the part of securities regulators and the self-governing bodies of the securities industry provided significant new credibility to technical analysis.
Knowledge Base
The Knowledge Base is the MTA's repository of key Technical Analysis information. Primarily designed around the MTA Body of Knowledge, it consists of major 'domains,' which break down Technical Analysis content into easy-to-navigate sections. The Knowledge Base is also home to various Technical Analysis blogs, updated weekly with new content.Members
Over 4,100 individuals belong to the MTA in over 75 countries worldwide. By occupation, technical analysts (42%) and traderTrader (finance)
A trader is someone in finance who buys and sells financial instruments such as stocks, bonds, commodities and derivatives. A broker who simply fills buy or sell orders is not a trader, as they are merely executing instructions given to them. According to the Wall Street Journal in 2004, a managing...
s (36%) comprise most of the MTA's members, along with portfolio manager
Portfolio manager
A portfolio manager is either a person who makes investment decisions using money other people have placed under his or her control or a person who manages a financial institution's asset and liability portfolios....
s (23%) and broker
Broker
A broker is a party that arranges transactions between a buyer and a seller, and gets a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal...
s (20%). The MTA is governed by a 12-member http://www.mta.org/eweb/DynamicPage.aspx?webcode=board board of directors. David Keller is the current president. Past presidents include Ralph Acampora, Phil Roth, Charles Comer, Gail M. Dudack, Mike Epstein, Bruce M. Kamich, David Krell (co-founder and CEO of the International Securities Exchange), Jordan Kotick, Fred Meissner, Robert Prechter
Robert Prechter
Robert R. Prechter, Jr. is an American author and stock market analyst, known for his financial forecasts using the Elliott wave principle. Prechter is an author and co-author of 14 books, and editor of 2 books , his book Conquer the Crash is a New York Times bestseller...
, Alan R. Shaw, and Larry Berman.
MTA Educational Foundation
In 1993 the Market Technicians Association established the MTA Educational Foundation, to "identify and fund educational programs in the field of technical analysis at accredited colleges and universities." The foundation has succeeded in bringing conferences and lecture series to many colleges and universities, including Dartmouth CollegeDartmouth College
Dartmouth College is a private, Ivy League university in Hanover, New Hampshire, United States. The institution comprises a liberal arts college, Dartmouth Medical School, Thayer School of Engineering, and the Tuck School of Business, as well as 19 graduate programs in the arts and sciences...
, Harvard Business School
Harvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
, Columbia University
Columbia University
Columbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...
, the Massachusetts Institute of Technology
Massachusetts Institute of Technology
The Massachusetts Institute of Technology is a private research university located in Cambridge, Massachusetts. MIT has five schools and one college, containing a total of 32 academic departments, with a strong emphasis on scientific and technological education and research.Founded in 1861 in...
, and the University of Chicago
University of Chicago
The University of Chicago is a private research university in Chicago, Illinois, USA. It was founded by the American Baptist Education Society with a donation from oil magnate and philanthropist John D. Rockefeller and incorporated in 1890...
.
The foundation's mission has expanded to include the creation and support of a complete technical analysis curriculum, which is now being taught in classrooms at numerous colleges and universities across the country. The University of Richmond
University of Richmond
The University of Richmond is a selective, private, nonsectarian, liberal arts university located on the border of the city of Richmond and Henrico County, Virginia. The University of Richmond is a primarily undergraduate, residential university with approximately 4,000 undergraduate and graduate...
in Virginia
Virginia
The Commonwealth of Virginia , is a U.S. state on the Atlantic Coast of the Southern United States. Virginia is nicknamed the "Old Dominion" and sometimes the "Mother of Presidents" after the eight U.S. presidents born there...
offered the first fully accredited course in technical analysis in 1996; today more than 20 business schools offer such courses.
The foundation also has an active outreach to financial professionals, via sponsored courses at the New York Society of Security Analysts, the Boston Security Analysts Society and the Centro Studi Bancari in Lugano
Lugano
Lugano is a city of inhabitants in the city proper and a total of over 145,000 people in the agglomeration/city region, in the south of Switzerland, in the Italian-speaking canton of Ticino, which borders Italy...
, Switzerland
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
. The foundation's board of directors includes distinguished university professors and Wall Street professionals.