Market Technicians Association
The Market Technicians Association is a non-profit, global, professional organization of technical analysts headquartered in New York City. The MTA certifies that an individual is competent in the use of technical analysis via the Chartered Market Technician(CMT) designation.
History[edit]
The Market Technicians Association was incorporated as a not-for-profit corporation in 1973. There were 18 charter members but the three primary founders are 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. The MTA, initially a New York-based group, has grown into a global organization.
The Chartered Market Technician (CMT) program emerged after significant work in the second half of the 1980s. The first tests were given and the first charters 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]). On September 11, 2001 the MTA lost its headquarters in the World Trade Center.
The MTA quickly relocated to Woodbridge, New Jersey and actively worked at building back its library of resources through the contributions of members and supporters. The MTA moved back to lower Manhattan in early 2007, occupying suite 514 at 61 Broadway, which is within one block of the New York Stock Exchange (NYSE). The MTA later moved to 25 Broadway, near the famous Charging Bull.
Mission[edit]
The MTA is a non-profit professional regulatory organization servicing over 9,000 market analysis professionals in over 80 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.[1]
The MTA has the following missions:
- 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 conducts seminars and regional chapter meetings and maintains an extensive library of technical analysis material and the regular publication of newsletters and journals.
It also presents an annual Charles H. Dow Award for Excellence in Technical Analysis, the candidates for which submit papers for review by a board of MTA members.
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.
Chartered Market Technician[edit]
As with other professional organizations that establish standards of competence for members, so the CMT Association provides a recognized standard of proficiency: The Chartered Market Technician 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 CMT Association, earn the Chartered Market Technician designation (CMT), certifying that the individual is competent in the use of technical analysis. [2]
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. [1] 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[edit]
The Knowledge Base is the CMT Association's repository of key Technical Analysis information. Primarily designed around the CMT Association 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[edit]
Over 9,000 individuals belong to the MTA in over 80 countries worldwide. However, there are less than 1,400 Chartered Market Technicians. By occupation, technical analysts (42%) and traders (36%) comprise most of the CMT Association's members, along with portfolio managers (23%) and brokers (20%). The CMT Association is governed by a 12-member board of directors. Scott Richter is the current president."The MTA Welcomes Our New Board of Directors". Past presidents include Craig Johnson, 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, Larry Berman, and David Keller.
Ongoing Contributions to Finance[edit]
CMT holders include thought leaders who have improved upon technical indicators and applied technical analysis to blockchain and bitcoin. Daniel Bruno, CMT[3][4]invented the SwiftCoin blockchain and the self-redeeming Solidus Bond. He uses technical analysis, especially early twentieth century Gann angles, to forecast contemporary cryptocurrency markets.
MTA Educational Foundation[edit]
In 1993 the MTA established the MTA Educational Foundation, to "identify and fund educational programs in the field of technical analysis at accredited colleges and universities."
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.
See also[edit]
References[edit]
- ↑ "CMT Association Constitution (Rev. 2003)" (PDF).
- ↑ Carr, Michael. "The Chartered Market Technician (CMT) Program". SFO Magazine. Archived from the original on 2009-02-01. Retrieved 2011-07-25.
- ↑ "Daniel Bruno Approved Academic Papers". SSRN. 10 June 2012. Retrieved 17 January 2019.
- ↑ "Bitcoin Bear Forecast Way Ahead of Time". SwiftCoin Talk. Retrieved 17 January 2019.
