SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Follow trading procedures in a treasury 
SAQA US ID UNIT STANDARD TITLE
7098  Follow trading procedures in a treasury 
ORIGINATOR
SGB Financial Services 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 2  NQF Level 02 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 
2003-12-03  2004-08-11  SAQA 1351/03 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2005-08-11   2008-08-11  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
117808  Follow trading procedures in a treasury  Level 3  NQF Level 03  Complete 

PURPOSE OF THE UNIT STANDARD 
This unit standard is intended for people who trade on the various desks. People accredited with this unit standard will be able to display an understanding of internal and external regulations; initiate, conduct and reconcile deal; adhere to and display an understanding of trading limits in order to follow trading procedures. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Persons attempting to this standard are required to know how to operate systems within a trading environment, are able to manage their own stress levels and have a good sense of time management. 

UNIT STANDARD RANGE 
Local and/or international.

Range statements are not fully inclusive. 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Display an understanding of internal and external regulations 
OUTCOME NOTES 
Display an understanding of internal and external regulations pertaining to the relevant trading environment. 
OUTCOME RANGE 
External regulations: Financial Markets Control Act, Stock Exchange Control Act, The South African Institute of Financial Markets Code of Ethics, Standards of Professional Conduct, Interbank Limits, Financial Services Act, Companies Act, ACI code of conduct. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Codes of conduct and security procedures are understood and explained as important internal control elements, as per company codes of conduct procedure. 

ASSESSMENT CRITERION 2 
2. Applicable external regulations are understood and explained. 

ASSESSMENT CRITERION 3 
3. Risk associated with the irregular application of internal and external regulations are identified and reported on as per company and industry regulations. 

SPECIFIC OUTCOME 2 
Initiate, conduct and reconcile deal 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Deal is initiated professionally as per company specified procedures. 
ASSESSMENT CRITERION RANGE 
Professionally: honesty, integrity, respect, diligence and appropriate communication.
 

ASSESSMENT CRITERION 2 
2. Feasibility of deal is based on an assessment of risk as per company specified procedure. 
ASSESSMENT CRITERION RANGE 
Risk: proprietary, business, country, and price risk.
 

ASSESSMENT CRITERION 3 
3. Accurate market related quotations are provided to the client as per company specified procedure. 

ASSESSMENT CRITERION 4 
4. Deals are conducted with clients, recorded and verified with the back office using company specified procedures. 
ASSESSMENT CRITERION RANGE 
Conducted:- telex, telephone and electronic screen.
Verified: balancing, differences in accounts (systems and general ledger), lack of control in accounting procedures.
 

ASSESSMENT CRITERION 5 
5. Disputes that arise are dealt with timeously and professionally with a view to minimise losses to the bank as per company specified procedure. 

SPECIFIC OUTCOME 3 
Adhere and display an understanding of trading limits 
OUTCOME RANGE 
Trading limits: authority, counter-party, instrument, portfolio, currency, liquidity, open position, daylight, overnight, interbank. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The purpose and importance of limits is understood and explained in terms of company's risk philosophy/policies and procedures. 

ASSESSMENT CRITERION 2 
2. Types of limits within which trading occurs are explained and understood according to company specified procedures. 

ASSESSMENT CRITERION 3 
3. Traders to operate within the confines of trading limits imposed by company specified procedure or through industry regulations. 

ASSESSMENT CRITERION 4 
4. Risks associated with non-compliance with trading limits are identified and explained according to trading procedures. 


UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
Accreditation process (including moderation):
  • Anyone assessing a learner against a unit standard must be registered as an assessor with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this unit standard or assessing this unit standard must be accredited as a provider with the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines in the relevant qualification and the agreed ETQA procedures.

    Therefore, anyone wishing to be assessed against this unit standard may apply to be assessed by any assessment agency, assessor or provider institution, which is accredited by the relevant ETQA. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    Learners display computation skills with the ability to use various types of software and conduct calculations and language skills with the ability to articulate and communicate clearly. 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learner will identify and solve problems using responsible decision making when identifying and reporting on the risks associated with the irregular application of internal and external regulations; ascertaining the feasibility of a deal; dealing with disputes and identifying and explaining the risks associated with non-compliance with trading limits 

    UNIT STANDARD CCFO WORKING 
    The learner will work effectively with others as a member of a team when initiating a deal; providing quotations; conducting, recording and verifying deals and dealing with disputes. 

    UNIT STANDARD CCFO ORGANISING 
    The learner will organise and manage him/herself and his/her activities responsibly and effectively when initiating, conducting and reconciling deals. 

    UNIT STANDARD CCFO COLLECTING 
    The learner will collect, organise and critically evaluate information when initiating a deal; providing accurate quotations; conducting, recording and verifying deals and dealing with disputes. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner will communicate effectively using visual, mathematical and language skills when initiating deals, providing quotes, conducting deals and dealing with disputes. 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 117808, which is "Follow trading procedures in a treasury", Level 3, 6 credits.

    Legal requirements:

    Learners understand SAFEX Regulations

    Terminology:

    SAFEX
    South African Futures Exchange

    Industry Jargon:

    The following jargon may be encountered when attempting this unit standard:

    ATM - At the Money
    Bear
    Broker
    Bull
    Call
    Close-out
    Cross Rate
    Dealer
    Discount
    Exercise
    Firm
    Forward
    Forward Forward
    Gamma
    Intrinsic Value
    ITM - In the Money
    Jobbing
    Long
    Margin
    Mine
    Open Position
    Option
    OTM - Out the Money
    Overnight
    Par
    Pip, or point
    Premium
    Put
    Rate of Exchange
    Short
    Spot
    Spot against Forward Position
    Spot against Forward Transaction
    Spot next
    Spot-next
    Spread
    Straddle
    Strangle
    Swap
    Time Value
    Tom-next
    Turn
    Value Date
    Vega
    Weak
    Yours 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  20183   National Certificate: Banking  Level 2  NQF Level 02  Passed the End Date -
    Status was "Reregistered" 
    2015-06-30  BANKSETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Nedbank Ltd 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.