Verified Certificate

Supported by the following organizations

This is to certify that Marcelo Alfama Ayala successfully completed and received a passing grade in ETFM2016.1x: Fundamentals of Market Structure a course of study offered by NYIF, an online learning initiative of New York Institute of Finance.

Noted by

Lee Arthur

Lee Arthur

Managing Director New York Institute of Finance

Anton Theunissen

Anton Theunissen

Curriculum Director New York Institute of Finance

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