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: 

Operate within the rules and directives of the financial markets exchanges 
SAQA US ID UNIT STANDARD TITLE
12890  Operate within the rules and directives of the financial markets exchanges 
ORIGINATOR
SGB HET Accountancy and Financial Management 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
FASSET - Financial and Accounting Services SETA 
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 6  Level TBA: Pre-2009 was L6  12 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

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 unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This unit standard is intended for people who work or intend to work in the Financial Markets sector.

Persons credited with this Unit Standard can identify and describe the rules and directives pertaining to the Exchange and are able to comply with them. This will lead to a more efficient and legislative compliant sector. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
It is assumed that the learner is competent in Communication and Mathematical Literacy at NQF Level 4. 

UNIT STANDARD RANGE 
(Range: JSE, SAFEX, BESA)

"The Financial Markets Exchanges" are:
  • The Johannesburg Securities Exchange (JSE)
  • The South African Futures Exchange (SAFEX)
  • The South African Bond Exchange (BESA)

    The Rules relating to the Exchanges include:
  • The Rules of the Share Transactions Totally Electronic Limited (STRATE)
  • The Rules of the Johannesburg Stock Exchange
  • The SAFEX Rule Book
  • The BESA Rule Book
  • The Directives of the Johannesburg Stock Exchange 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Describe the structure, function and operation of an exchange 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The process for the establishment and funding of an exchange is explained using the JSE as an example. 

    ASSESSMENT CRITERION 2 
    2. The duties and obligations of an exchange are explained in terms of listed companies, investors, brokers and legislation. 

    ASSESSMENT CRITERION 3 
    3. The management and control of an exchange is described with an indication given of how it is done and who is responsible for each step in the process. 

    ASSESSMENT CRITERION 4 
    4. Stock market indices are understood and calculated weekly over a one month period. 

    ASSESSMENT CRITERION 5 
    5. The process and criteria for listing, suspension of listing and de-listing are explained with examples from the JSE over the past year. 

    ASSESSMENT CRITERION 6 
    6. Shares, share issues, and share trading on the primary and secondary markets are understood and examples given. 

    ASSESSMENT CRITERION 7 
    7. The legal aspects of shares and shareholders are explained with examples. 

    ASSESSMENT CRITERION 8 
    8. Fee structure is explained with examples. 

    SPECIFIC OUTCOME 2 
    Locate and interpret information within the exchange's rule book 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The main information contained in the exchange's rule book is explained with examples and the relevant rule or directive is identified for five situations. 

    ASSESSMENT CRITERION 2 
    2. The relevant rule or directive is located and a summary given of how it applies to five situations. 

    ASSESSMENT CRITERION 3 
    3. The rules and directives pertaining to the exchange are explained in the context of the issue. 

    SPECIFIC OUTCOME 3 
    Comply with the rules and directives of the exchange 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Exchange membership requirements are understood and a written summary made. 

    ASSESSMENT CRITERION 2 
    2. Trading rules are understood and adhered to in transactions for a period of three months. 

    ASSESSMENT CRITERION 3 
    3. Custody arrangements are adhered to for three months. 

    ASSESSMENT CRITERION 4 
    4. Prohibitions are complied with for a three-month period. 

    ASSESSMENT CRITERION 5 
    5. The concept of conflict of interest is explained using examples. 

    ASSESSMENT CRITERION 6 
    6. Enforcement measures are understood and an explanation given from the South African context. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    Accreditation and moderation:

    Accreditation for this Unit Standards shall be from the FASSET Education and Training Quality Assuror through formative and summative assessment by a registered Assessor. Assessment should be contextual and be conducted in the workplace as far as possible.
  • Assessors must be registered as an Assessor with the FASSET ETQA or with an ETQA that has a Memorandum of Understanding with the FASSET ETQA
  • Moderators must be registered as assessors with the FASSET ETQA or with an ETQA that has a Memorandum of Understanding with the FASSET ETQA
  • Training providers must be accredited by the Fasset ETQA or with an ETQA that has a Memorandum of Understanding with the FASSET ETQA
  • Moderation should include both internal and external moderation where applicable
  • The Fasset ETQA will co-ordinate all moderation activities in accordance with its policies and procedures 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    A demonstrated understanding of:
  • The rules and directives relating to the exchange
  • The terminology relating to the Financial Markets and instruments 


  • Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO ORGANISING 
    The ability to organize and manage oneself and one's activities responsibly and effectively. For example, complying with the rules and directives requires one to behave ethically and responsibly. 

    UNIT STANDARD CCFO COLLECTING 
    The ability to collect, analyse, organise and critically evaluate information. For example, one needs to constantly evaluate information and activities in the workplace and assess whether the rules and directives are being adhered to. 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    Terminology:
  • Terminology relating to the Financial Markets can be found in "Who owns Whom's Dictionary of Stock Market Terms" published by Who owns Whom/PSG Online in 2001. ISBN 1-919850-04-X.
  • The learner is likely to be involved with one of the Exchanges only. They should only be assessed on the exchange relevant to their work situation.

    Values:

    The use of tasks and materials in the learning event plan should not discriminate against learners on any grounds proscribed in the Bill of Rights and should promote the orientations outlined in the critical cross-field outcomes. 

  • QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  23653   National Diploma: Financial Markets  Level 6  NQF Level 06  Reregistered  2023-06-30  FASSET 
    Elective  50481   National Certificate: Financial Markets and Instruments  Level 6  Level TBA: Pre-2009 was L6  Reregistered  2023-06-30  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. Felix Risk Training Consultants 
    2. Full Value Financial Services (Pty) Ltd 
    3. Nedbank Ltd 
    4. The Academy of Financial Markets 
    5. The Facilitation Workshop 
    6. The Institute of Literacy Advancement 



    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.