National Institute of Securities Markets

National Institute of Securities Markets (NISM) is an Indian public trust that provides financial education and standards to improve financial literacy and financial education for market participants. It is headquartered in Navi Mumbai, India and split into six schools that address the different participants of the Indian financial market. It is structured as an autonomous body governed by a Board of Governors.

History

NISM was established by the Securities and Exchange Board of India (SEBI) 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

NISM consists of six different schools. These are as follows:^[1]

School for Investor Education and Financial Literacy (SIEFL)

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 InvestorFirst.in^[2]
Investor workshops in the face-to-face format. Workshops that are conducted in various towns and cities.

School for Certification of Intermediaries (SCI)

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) Regulation, 2007.

NISM examinations:

NISM Series-I: Currency Derivatives Certification Examination (NISM-Series-I: CD Examination)
NISM Series-II-A: Registrars and Transfer Agents (Corporate) Certification Examination (NISM-Series-II-A: RTA (Corp) Examination)
NISM Series-II-B: Registrars and Transfer Agents (Mutual Fund) Certification Examination (NISM-Series-II-B: RTA (MF) Examination)
NISM Series-IV: Interest Rate Derivatives Certification Examination (NISM Series-IV: IRD Examination)
NISM Series-V-A: Mutual Funds Distributors Certification Examination (NISM Series-V-A: MFD Examination)
NISM Series-VI: Depository Operations Certification Examination (NISM Series-VI: DOCE)
NISM Series-VII: Securities Operations and Risk Management Certification Examination (NISM Series-VII: SORM Examination)
NISM-Series-VIII: Equity Derivatives Certification Examination (NISM-Series-VIII: ED Examination)

Other Certifications:

Certified Personal Financial Advisor (CPFA) Examination (CPFA exam was discontinued in SEP 2013),
New exam has been launched as NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination

School for Securities Information and Research (SSIR)

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)

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)

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

School for Securities Education (SSE)

Within the framework of the vision and mission of NISM, the role of SSE is to provide education preparing competent professionals who will serve the securities markets.