NCFM - NSE's Certification in Financial Markets

NSE's Certification in Financial Markets (NCFM)

National Stock Exchange (NSE) provides certification programmes for development of right skills and expertise in financial markets. Certifications are compulsory for the company’s, intermediaries and individuals who are operating in the field of stock market and other financial services.

In order to dispense quality intermediation, personnel working in the industry need to (i) follow a certain code of conduct usually achieved through regulations and (ii) possess requisite skills and knowledge acquired through a system of testing and certification.

As intermediation involves human expertise more than technological support, it is important that a person providing intermediation in the industry has a proper understanding of the business and the skills to help it remain competitive. In order to ensure this, it has become an accepted international practice for personnel working for market intermediaries to be adequately certified.

Such testing and certification has assumed significance in India as there is no formal education or training on financial markets, especially in the area of operations, while at the same time the market has undergone a complete transformation in the recent years.

A variety of new functions that need different levels and nature of specialisation and orientation have emerged. The industry has a large work force with varying levels of professional qualifications, skills and experience that do not necessarily match their work responsibilities.

Taking into account international experience and the needs of the Indian financial markets, with a view for protecting interests of investors in financial markets and more importantly, for minimising risks of losses arising out of deficient understanding of markets and instruments, National Stock Exchange introduced in 1998 a facility for testing and certification by launching NSE's Certification in Financial Markets (NCFM).

The NCFM Programme

NCFM is an online testing and certification programme. It tests the practical knowledge and skills required to operate in the financial markets. Tests are conducted in a secure and unbiased manner and certificates awarded based on merit of the candidate to qualify the on-line test.
The entire process of testing, assessing and scores reporting in the NCFM is fully automated. The system is operated through an intranet facility by using a central World Wide Web server with terminals located at each of the designated test centres to be used as an examination front end. Communication between the central server and the test centres is achieved through VSAT/leased line network.
The Test is also offered through the Internet to enable candidates outside the designated test centres to take tests at their convenience. This allows flexibility in terms of testing centres, dates and timing and provides easy accessibility and convenience to candidates.

NCFM Modules
Financial Markets: A Beginner's Module
Mutual Funds: A Beginner's Module
Currency Derivatives: A Beginner's Module
Equity Derivatives: A Beginner's Module
Interest Rate Derivatives: A Beginner's Module
Commercial Banking in India : A Beginner's Module
Securities Market (Basic) Module
Capital Market (Dealers) Module (CMDM)
Derivatives Market (Dealers) Module (DMDM)
NSDL-Depository Operations Module
Investment Analysis and Portfolio Management
Fundamental Analysis Module
Technical Analysis Module
Financial Markets (Advanced) Module
Securities Market (Advanced) Module
Mutual Funds (Advanced) Module
Banking Sector Module
Insurance Module
Macroeconomics for Financial Markets Module
Mergers and Acquisitions Module
Back Office Operations Module
Wealth Management Module
Project Finance Module
Options Trading Strategies Module
Options Trading (Advanced) Module
Commodities Market Module
Surveillance in Stock Exchanges Module
Corporate Governance Module
Compliance Officers (Brokers) Module
Compliance Officers (Corporates) Module
Information Security Auditors Module (Part-1) & Information Security Auditors Module (Part-2)
Modules of National Institute of Securities Markets (NISM)
Modules of Financial Planning Standards Board India (Certified Financial Planner Certification)
Equity Research Module
Issue Management Module
Market Risk Module
Financial Modeling Course
Financial Services Foundation