The Sebi-run National Institute of Securities Markets (NISM) and Moody's Analytics today launched an advanced certification course in derivatives market strategies (CDMS), and expect to train 2,000 professionals in this sector by the end of the calendar year.
The course is an internationally recognised certification that validates the knowledge and skillsets required for a variety of roles that employ financial derivatives. An individual passing out of this course will be recognised for his/her specialised knowledge and qualification in the advanced concepts of both exchange-traded and over- the-counter derivative investments.
Announcing the course at the NISM's new campus at Patalganga near Mumbai, Sebi Chairman UK Sinha said, "This professional certification represents an important step in supporting growth of the securities markets. A more robust level of proficiency helps build confidence in the system. We encourage broad participation from all market participants."
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NISM Director Sandip Ghosh told PTI, "The institute's basic derivatives certification course has been very popular with around 80,000 people completing the course so far.
"We are confident that we shall see significant demand among this group to avail the CDMS. Our estimate tells us that by end-2017, we shall have around 2,000 professionals enrolled to this certification."
Going forward, he hopes the certification course gains popularity since the clientele in derivatives have expressed serious desire for such a certification to enable them to move forward in their career.
He listed four areas where NISM is looking to upskill professionals--derivatives, fixed income, advanced level of mutual funds, and continuous professional education. Calling for advanced market research, Sinha said NISM is going to focus is the area of research.
"Stock exchanges and the entire Sebi system have a lot of data which are relevant and unique to our country. Based on those data, a very high quality of advanced research is required," he said, adding one of the mandates of NISM is to develop the research capability.
Globally, NISM is one of the largest financial market certifying institutions, issuing 22 certificates covering various critical market functions such as sales, advice, operations and compliance across financial market products such as equities, derivatives of equity, currency, interest rates and commodities, mutual funds and pensions.
"Launch of this certification course reinforces the
commitment of Moody's Analytics to developing sound proficiency standards, which support and promote efficiency and transparency in capital markets," said Mark Almeida, President of Moody's Analytics.
Meanwhile, Sinha said Sebi is working to cut down on the time taken for companies to list on the exchanges post their public share offering to four days from six days. Till a few years ago, companies took about 11 days to list their shares after the close of the IPO process.
"Sebi team is already working to bring the timeline from issue close to listing down to T+4 days," Sinha said. While the NISM has already given certification courses to over 550,000, more than 1,50,000 market professionals take NISM certification examinations annually from its over 200 centres. It also imparting professional education training to over 40,000 annually.
