Guys,
Some previous posts on this can be found
here
A couple of things to add - the exams ARE tough; even though it is multiple choice there is negative marking and the questions are very specific so you need to know your subject matter very well; knowledge of the compliance and SE rules is a must, on top of all the other stuff.
Even though the "course" is only three days long the info on the ISE website and application form states clearly that it is up to you to study up and that the courses will not cover enough to pass the exams without work on your part - the app form recommends a minimum of 15 hours a week for the best part of 4 months.
The course is not only for employees of member firms - anyone can pay the fee, do the study and take the exam, however, you will not be a Stock Exchange Reg Rep if you are not employed and sponsored by a member firm.
For anyone who will be trading directly on the Xetra exchange there is an additional exam that needs to be passed before you are allowed trade on the live "floor"
Competition within the industry for the limited number of "trading" positions in Ireland is pretty tough - many of the staff working in the back office of the existing firms would be Reg Rep qualified and would be looking to move to the trading desks if given a chance
Also, see the linked post above for the different types of "trading" positions out there.
As for stress levels - it can be stressful; it probably depends on if you have a proprietary portfolio or not, but the real stress levels are in London and NY and the big investment banks that chew up and spit out burnt out and broken graduates by the hundreds every year
Let me know if you have any more questions