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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION THAT HAS PASSED THE END DATE: 

Occupational Certificate: Financial Markets Practitioner 
SAQA QUAL ID QUALIFICATION TITLE
93603  Occupational Certificate: Financial Markets Practitioner 
ORIGINATOR
Development Quality Partner - FASSET 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
QCTO - Quality Council for Trades and Occupations  OQSF - Occupational Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Occupational Certificate  Field 03 - Business, Commerce and Management Studies  Finance, Economics and Accounting 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  120  Not Applicable  NQF Level 07  Regular-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Passed the End Date -
Status was "Reregistered" 		 NQFQ 0514/23  2015-06-01  2018-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2019-06-30   2022-06-30  

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 qualification is replaced by: 
Qual ID Qualification Title Pre-2009 NQF Level NQF Level Min Credits Replacement Status
117238  Occupational Certificate: Financial Markets Practitioner  Not Applicable  NQF Level 07  180  Complete 

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:
The purpose of the qualification is to prepare a learner to analyse individual securities, industries and the economy, provide investment advice to clients in respect of securities and other financial instruments and execute transactions in securities with/on behalf of clients and/or for an exchange member.

A qualified learner will be able to:
  • Analyse, evaluate and review information on securities and market conditions on behalf of clients and/or exchange member.
  • Critically analyse the profile and related investment needs of the client to advise accordingly.
  • Execute buy and sell orders (trading) by applying the ethics, principles values and processes as prescribed.
  • Conclude financial market transactions (settlement) according to accepted practice/s.
  • Calculate and record corporate events to indicate their effect on the market and client portfolios.

    Rationale:
    The financial markets play a critical role in the functioning of the economy. All the activities that take place in the financial markets are regulated through legislation and through the rules and regulations of the various regulating bodies and exchanges. For the system to function optimally and to serve the interests of market participants and the economy as a whole, it is imperative that all financial markets practitioners are fully qualified to perform the functions entrusted to them in a competent and ethical manner.

    Research undertaken by FASSET concluded that there was a need for an occupational qualification as an entry route into the financial markets. One of the reasons cited for this need is that there was a shortage of skilled and appropriately qualified people to take up positions in the South African financial markets. The qualification is to enhance the flow of young financial markets practitioners into the labour market. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Recognition of Prior Learning (RPL):
    RPL for access to the integrated assessment: Accredited providers and approved workplaces must apply the internal assessment criteria specified in the related curriculum document to establish and confirm prior learning. Prior learning must be acknowledged by a statement of results.

    RPL for entry requirements to access the qualification: Accredited providers and approved workplaces may recognise prior learning against the relevant access requirements.

    Entry Requirements:
  • A NQF Level 6 qualification in finance or a related field of study or three years work experience in financial markets. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    This qualification consists of the following compulsory Theory, Practical Skill and Workplace Modules totalling 120 Credits:

    Theory Modules:

    NQF Level 5:
  • Settlement of Financial Markets Transactions, 15 Credits.

    NQF Level 6:
  • Introduction to Financial Markets, 10 Credits.

    NQF Level 7:
  • Client Service and Financial Advice, 10 Credits.
  • Trading in Financial Markets, 15 Credits.
  • The Calculation and Recording of Corporate Events, 5 Credits.

    Totalling: 55 Credits.

    Practical Skills Modules:

    NQF Level 5:
  • Conclude Financial Market Transactions, 10 Credits.

    NQF Level 6:
  • Analyse, evaluate and review information on securities and market conditions, 10 Credits.

    NQF Level 7:
  • Critically analyse the profile and related investment needs of a client to advise accordingly, 10 Credits.
  • Execute buy and sell orders by applying the ethics, principles values and processes as prescribed, 5 Credits.
  • Calculate and record financial market corporate events, 5 Credits.

    Totalling: 40 Credits.

    Workplace Experience Modules:

    NQF Level 5:
  • Perform financial markets administrative functions, 5 Credits.

    NQF Level 6:
  • Produce and present internal market reports, 5 Credits.

    NQF Level 7:
  • Compile client profile based on established client needs, 5 Credits.
  • Witness various trading activities, 5 Credits.
  • Identify financial corporate events and indicate its effect on the market, 5 Credits.

    Totalling: 25 Credits. 
    		•

    EXIT LEVEL OUTCOMES 
    1. Analyse, evaluate and review information on securities and market conditions on behalf of clients and/or exchange member (20%).
    2. Critically analyse the profile and related investment needs of the client to advise accordingly (20%).
    3. Execute buy and sell orders (trading) by applying the ethics, principles values and processes as prescribed (25%).
    4. Conclude financial market transactions (settlement) according to accepted practice/s. (25%).
    5. Calculate and record corporate events to indicate their effect on the market and on client portfolios (10%). 

    ASSOCIATED ASSESSMENT CRITERIA 
    Associated Assessment Criteria for Exit Level Outcome 1:
  • Relevant information relating to the macroeconomic environment and specific securities is, analysed, synthesised and consolidated.
  • The roles of local and international financial markets in the economy and the interaction between the macro-economic environment and the markets are correctly reflected.
  • The structure and composition of the various markets is identified with specific reference to the roles, responsibilities and/or powers of the various market participants and regulating institutions.
  • Financial market products are analysed and evaluated with specific reference to the legislation and regulations pertaining to them.
  • Financial markets terminology is applied.
  • Risk factors and their effect on the financial markets are identified and explained including political risks, legislative risks and currency risks.
  • Equity risk premiums are explained to facilitate transactions for and on behalf of clients and/or exchange member.

    Associated Assessment Criteria for Exit Level Outcome 2:
  • The profile and investment needs of an individual investor are evaluated and the investor is given advice in written format.
  • The correct procedures in respect of the take-on of new clients, their client identification and verification, record keeping and suspicious transaction reporting are applied.
  • A client needs analysis based on all the relevant information is provided.
  • Rules and regulations pertaining to the provision of financial markets information and advice are identified and applied.
  • The codes of conduct applicable to the financial markets are applied and actions are motivated in terms of the code of conduct.
  • The risks associated with different asset classes are explained in appropriate language and at a level that the client can understand.
  • Risk factors including political risks, legislative risks, currency risks as well as equity risk premiums are explained to facilitate successful transaction choices.
  • The tax implications of different asset classes and the trading in those asset classes are explained and calculated.
  • An investment portfolio is proposed and the investment decisions are clearly motivated.

    Associated Assessment Criteria for Exit Level Outcome 3:
  • The trading capacities, periods and trading times of the various trading systems are explained.
  • The different trade types and the reporting requirement and regulations pertaining to the various trade types on the different markets are described.
  • The legislation governing the right to transact on the various trading systems within the different financial markets is applied.
  • The trading rules in respect of Kruger Rands, inward listed securities and non exchange derivative instruments are applied to a given situation.
  • The critical aspects of ethical trading and the concept of best execution are explained and applied.
  • Case studies are analysed to identify manipulative or deceptive trading practices and the use of false and misleading or deceptive statements, promises and forecasts of information and the consequences of such behaviour.
  • The different kinds of risk pertaining to the trading process are identified and ways to mitigate risks are proposed.

    Associated Assessment Criteria for Exit Level Outcome 4:
  • The settlement process is explained and applied according to accepted practice/s.

    Associated Assessment Criteria for Exit Level Outcome 5:
  • Corporate actions are correctly defined to indicate their effect on selected markets.
  • Settlement cycles, timelines and deadlines are applied in terms of corporate actions and the implication of the timelines are considered.
  • Effects of corporate actions on market price and a given portfolio are explained by analysing the data.
  • Time lines pertaining to the reconciliation of corporate action accounts are explained and applied.

    Integrated Assessment:
    An external integrated summative assessment, conducted through the relevant QCTO Assessment Quality Partner is required for the issuing of this qualification. The external integrated summative assessment will focus on the exit level outcomes and associated assessment criteria.

    The external assessment will be conducted by means of a written assessment providing the learner with a number of scenarios in which knowledge and related skills need to be applied in an integrated manner. 
    		•

    INTERNATIONAL COMPARABILITY 
    To inform the design and content of this qualification, three international qualifications were analysed:
  • The Professional Diploma in Stock Broking leads to a professional designation conferred by the Stockbrokers Association in Australia.
  • The Chartered Financial Analyst is an international qualification offered to investment professionals. It is also offered in South Africa.
  • The General Securities Representative Examination (also known as the Series 7 Examination) leads to licensing by the United States Financial Industry Regulatory Authority to act as a General Securities Representative (GSR). The functions of GSR are regulated.

    The purpose of this analysis was to establish international best practice in the design of financial markets qualifications and to gauge and understand the content and structure of other qualifications designed for financial markets practitioners.

    The international qualifications on offer for financial markets practitioners differ substantially in scope and in content. The current qualification content has been developed in a similar manner to the General Securities Representative Qualification Examination of FINRA in the US. In both qualification designs the job functions of financial markets practitioners were used as the point of departure. The knowledge elements needed to perform those functions were then identified.

    Conclusion:
    The scope of the two qualifications is relatively similar. However, each focuses on the legislation and regulations pertaining to the particular country. Furthermore, the current Qualification is distinct in its specification of practical skills and workplace experience modules. 
    		•

    ARTICULATION OPTIONS 
    N/A 

    MODERATION OPTIONS 
    N/A 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this qualification was Reregistered in 2015. 

    NOTES 
    Registered qualifications or learning programmes to be replaced:
  • This qualification does not replace any other qualification and is not replaced by any other qualification.

    Recorded trades to be replaced:
  • This qualification does not replace any recorded trade.

    Name of the Assessment Quality Partner (AQP) for this qualification:
  • South African Institute of Stockbrokers (SAIS). 
    		•

    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
    When qualifications are replaced, some of their learning programmes are moved to being recorded against the replacement qualifications. If a learning programme appears to be missing from here, please check the replacement.
     
    NONE 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: 
    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.
     
    NONE 


    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.