National Institute of Securities Markets

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National Institute of Securities Markets (NISM) is an Indian public trust and also the statutory professional body for Financial Market Dealers in India along with being the civil service training institute and staff college of SEBI established in 2006 by the Securities and Exchange Board of India (SEBI) the regulator for the securities market in India. It is under the jurisdiction of Ministry of Finance, Government of India. The institute is known for its flagship programme i.e. Post Graduate Programme in Securities Market and also other additional programmes which includes Post Graduate Programme in Quantitative Finance, Certificate in Investment and Securities Law, Certificate in Treasury Management, Post Graduate Programme in Financial Engineering and Risk Management and Post Graduate Programme in Data Science. It also offers certification programmes, academic programmes, training programmes, capacity building and skill development programmes in securities markets. The institute also provides financial education and standards to improve financial literacy in the country. The institute is located in Vashi, Navi Mumbai, India. A 72-acre campus at Patalganga (off-Mumbai-Pune Expressway), for the institute, was inaugurated by Narendra Modi, incumbent Prime Minister of India, on 24 December 2016. NISM is an powerful autonomous body governed by a Board of Governors. Ajay Tyagi, the Chairman of SEBI, is the incumbent chairman of NISM. Shri SK Mohanty, Whole Time Member, SEBI has taken additional charge as the Director of NISM. The Institute is divided into six schools that address the different participants of the Indian financial market.

History[edit]

In the Budget Speech of February 2006, P Chidambaram, the erstwhile Union Finance Minister, proposed to authorize the Securities and Exchange Board of India to set up a National Institute of Securities Markets for teaching and training intermediaries in securities markets and promoting research. Accordingly, NISM was established in 2006. NISM seeks to add to market quality through educational initiatives. It is an autonomous body governed by its Board of Governors. An International Advisory Council provides strategic guidance to NISM.

Structure[edit]

The activities of NISM are carried out under six schools. These are as follows:[1]

School for Securities Education (SSE)[edit]

The School for Securities Education (SSE) offers flagship programmes specialized in securities markets. The programmes offered under SSE are

  • Post Graduate Programme in Securities Markets (PGPSM)
  • Post Graduate Programme in Quantitative Finance (PGPQF)
  • Certificate in Investment ans Securities Law (CSL)
  • Certificate in Treasury Management (CTM)
  • Post Graduate Programme in Financial Engineering and Risk Management (PGPFERM)
  • Post Graduate Programme in Data Science (PGPDS)

School for Investor Education and Financial Literacy (SIEFL)[edit]

SIEFL is aimed at working on various initiatives on Financial Literacy. There are three programmes in NISM that address financial education.

  • Financial education in schools: NISM program to introduce financial literacy in schools.
  • A dedicated website for Investor Education NCFEIndia.org[2]
  • Investor workshops in the face-to-face format. Workshops that are conducted in various towns and cities.

School for Certification of Intermediaries (SCI)[edit]

The School for Certification of Intermediaries (SCI) at NISM is engaged in developing certification examinations for professionals employed in various segments of the Indian securities markets. These examinations are being developed by NISM as mandated under SEBI Certification of Associated Persons in the Securities Markets (CAPSM) Regulation, 2007.

NISM Certification Examinations: Module-wise Details[edit]

Sr. No NISM Modules Certification Examination Test Duration Fees (Rs) Maximum Marks No. of Questions Pass Mark (%) Negative Marks (%) Certificate Validity (in years)
1 NISM Series I Currency Derivatives Certification Examination 2hrs 1500/- 100 100 60 25 3
2 NISM Series II A Registrars and Transfer Agents (Corporate) Certification Examination 2hrs 1500/- 100 100 50 25 3
3 NISM Series II B Registrars and Transfer Agents (Mutual Fund) Certification Examination 2hrs 1500/- 100 100 50 25 3
4 NISM Series-III-A Securities Intermediaries Compliance (Non-Fund) Certification Examination 2hrs 1500/- 100 100 60 25 3
5 NISM Series-III-B Issuers Compliance Certification Examination+ 2hrs 1770/- 100 100 60 25 3
6 NISM Series IV Interest Rates Derivatives Certification Examination 2hrs 1500/- 100 100 60 25 3
7 NISM Series V A Mutual Fund Distributors Certification Examination 2hrs 1500/- 100 100 50 - 3
8 NISM-SeriesV-B Mutual Fund Foundation Certification Examination 2hrs 1200/- 50 50 50 - 3
9 NISM-Series-V-C Mutual Fund Distributors (Level 2) Certification Examination+ 2hrs 1770/- 100 68 60 25 3
10 NISM Series VI Depository Operations Certification Examination 2hrs 1500/- 100 100 60 25 3
11 NISM Series VII Securities Operations and Risk Management Certification Examination 2hrs 1500/- 100 100 50 25 3
12 NISM-Series-VIII Equity Derivatives Certification Examination 2hrs 1500/- 100 100 60 25 3
13 NISM Series-IX Merchant Banking Certification Examination 2hrs 1500/- 100 100 60 25 3
14 NISM-Series-X-A Investment Adviser (Level 1) Certification Examination 2hrs 1500/- 100 100 60 25 3
15 NISM-Series-X-B Investment Adviser (Level 2) Certification Examination 2hrs 1500/- 100 68 60 25 3
16 NISM-Series-XI Equity Sales Certification Examination+ 2hrs 1770/- 100 100 50 25 3
17 NISM Series-XII Securities Markets Foundation Certification Examination+ 2hrs 1770/- 100 100 60 - 3
18 NISM Series-XIII Common Derivatives Certification Examination 3hrs 3000/- 150 150 60 25 3
19 NISM Series-XIV Internal Auditors for Stock Brokers Certification Examination+ 2hrs 1770/- 100 100 60 25 3
20 NISM Series-XV Research Analyst Certification Examination 2hrs 1500/- 100 100 60 25 3
21 NISM-Series-XVI Commodity Derivatives Certification Examination 2hrs 1500/- 100 100 60 25 3
22 NISM-Series-XVII Retirement Adviser Certification Examination 2hrs 1500/- 100 100 60 25 3
23 NISM-Series-XVIII Financial Education Certification Examination+ 2hrs 1416/- 50 50 50 - 3
24 IBBI- Valuation Examination in the Asset Class Land and Building 2hrs 1500/- 100 96 60 25 -
25 IBBI- Valuation Examination in the Asset Class Plant and Machinery 2hrs 1500/- 100 96 60 25 -
26 IBBI- Valuation Examination in the Asset Class Securities or Financial Assets 2hrs 1500/- 100 92 60 25 -

School for Securities Information and Research (SSIR)[edit]

SSIR undertakes several initiatives that seek to support research in securities markets.

The Network for Securities Markets Data (NSMD), a project undertaken by the SSIR, will act as a single point access to Indian securities markets related data and will boost the research and analysis activities on Indian securities markets.

School for Regulatory Studies and Supervision (SRSS)[edit]

SRSS organizes executive education for officers of SEBI, stock exchanges, government officers, depositories, capital markets division of the ministry and participants of capital markets from other jurisdictions including SAARC nations and IOSCO nations.

SRSS also initiated training programmes for Internal Auditors of Stock Brokers. SRSS organizes round table for mutual fund trustees.

The school has also undertaken a project "Securities Market Simulator" which simulates the working of securities markets to facilitate training and research activities on Indian markets.

School for Corporate Governance (SCG)[edit]

SCG conducts workshops and round table conferences in matters pertaining to Corporate Governance and initiatives for capacity building in the corporate governance space.

See also[edit]

References[edit]

External links[edit]