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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 QUALIFICATION THAT HAS PASSED THE END DATE: 

National Diploma : Financial Markets and Instruments 
SAQA QUAL ID QUALIFICATION TITLE
24314  National Diploma : Financial Markets and Instruments 
ORIGINATOR
Academy of Financial Markets (The) 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
BANKSETA - Banking Sector Education and Training Authority  OQSF - Occupational Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
National Diploma  Field 03 - Business, Commerce and Management Studies  Finance, Economics and Accounting 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  240  Level 6  Level TBA: Pre-2009 was L6  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Passed the End Date -
Status was "Reregistered" 		 SAQA 9900/00  2018-07-01  2023-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2026-06-30   2029-06-30  

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 does not replace any other qualification and is not replaced by any other qualification. 

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Learners who achieve this qualification are able to understand and interpret information of financial markets and instruments. This allows individuals to enter the financial arena in a practical way. The aim is to provide access in this field to a vast range of individuals. Learners will be able to work effectively towards the field of specialised trading and investment funding transactions.

The purpose of this qualification is to contribute to the full personal development of each learner and the socio-economic development of the society at large particularly in the context of the financial markets and investments.

The achievement of this qualification enables the learner to utilise specialised financial instruments such as futures, options and other derivatives for trading, funding and investments. Investments could be in an individual capacity or in the corporate environment.

This qualification is highly regarded by esteemed institutions in the financial markets who themselves make use of it to build capacity in their own employees.

RATIONALE

Financial markets and instruments influence to a large extent most individuals in South Africa. It is thus important that a good understanding and knowledge be imparted as to how they work and what effect they have on a practical basis.

This qualification will also benefit the corporate environment as the lead participant in financial markets and instruments.

The scope of the qualification will reach the following industries:
  • Financial services industry
  • Banking
  • Insurance
  • Auditing and Accounting
  • Unit Trust industry
  • SMME`s in the financial services sector

    The qualification should also contextualise the South African Financial Markets relating to world-wide trading and financial environments. The qualification is structured in a way that exposes learners to different kinds of investments with a view to enabling them to make an informed choice of a career path linked to financial investments.

    The qualification suites the following learners within the above mentioned environments:
  • Financial Advisors
  • Financial Administrators
  • Portfolio Managers
  • Financial Analysts
  • Compliance officers
  • Brokers and relationship managers in the banking environment
  • Risk Assessors / Managers
  • Treasurers
  • Financial Traders
  • Corporate financiers
  • Structured financiers

    This is what this qualification aims to achieve which is in line with current/proposed legislation (for example the FAIS Bill) as well as requirements from regulatory bodies (for example the JSE Securities Exchange). 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Learners should be competent in Communication, Mathematical Literacy and Financial Literacy at NQF Level 3. An assessment of appropriate workplace experience could substitute and enhance the learners mentioned required competency.

    A combination of competencies obtained in the FET band will serve as a learning base to progress into the level 6 qualification.

    RECOGNITION OF PRIOR LEARNING

    The qualification is specifically designed to accommodate a broad range of recognition of prior learning. This intention is reflected in the structure of the qualification and also in the rules for combination of credits towards the qualification.
    An assessor has the right to assess any particular aspect of prior learning to ensure the designed outcomes in this qualification are achieved and relevant. This will ensure that up to date understanding of the financial markets and instruments are applied.

    In conclusion, the qualification may be achieved in whole or in part through the recognition of prior learning, which will include the learning outcomes achieved through formal, informal and non-formal learning and work experience. 

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    N/A 

    EXIT LEVEL OUTCOMES 
    After completion of this qualification, the learner will be competent to trade, invest and do funding operations, using specialised financial instruments by performing the following exit level outcomes and capabilities:
  • Generating reports of arbitrage opportunities.
  • Monitoring price movements in differing markets.
  • Calculating cash flow implications of different strategies.
  • Strategising an investment tactic.
  • Calculating the outcome of different investment decisions.
  • Monitoring values in the interest rate market.
  • Applying hedging strategies in portfolio management.
  • Implementing control procedures to limit risk.

    In order to reach the exit level outcomes specified above, the learner must demonstrate knowledge of the following aspects/fields:
  • The JSE and equities markets
  • Money markets
  • Capital markets
  • Foreign exchange markets
  • Futures
  • Options
  • Specialised interest rate instruments and specialised deals
  • International investments and new developments
  • Unit trusts
  • Practical trading systems, risks and controls
  • Hedging and the use of derivatives

    It may accordingly be concluded that the qualification will have played a crucial role in promoting life-long learning. 
    		•

    ASSOCIATED ASSESSMENT CRITERIA 
    Assessors should use assessment tools to conduct assessments against the unit standards specified in the qualification.

    The assessor should check that the learner demonstrates the critical cross-field outcomes included in the qualification:
  • Identifying and solving problems in which responses display that responsible discussions using critical and creative thinking have been made.
  • Organising and managing oneself and one`s activities responsibility and effectively.
  • Collecting, analysing, organising and critically evaluating information.
  • Communicating effectively using visual, mathematical and/or language skills in the modes of oral and/or written persuasion.
  • Demonstrating an understanding of the world as a set of elated systems by recognising that problem-solving contexts do not exist in isolation.
  • Reflecting on and exploring a variety of strategies to learn more effectively.
  • Exploring education and career opportunities.
  • Developing entrepreneurial opportunities.
  • Understanding and analysing the risks inherent to decision making in a world of uncertain outcomes.
  • Interpreting information received via the media.
  • Working effectively as part of the team or a group.
  • Stimulating and developing thinking patterns involving creativity.
  • Remaining receptive and responsive to current trends and developments.
  • Using technology effectively and responsibly.

    INTEGRATED ASSESSMENT

    The learner who acquired the qualification will be able to identify and solve problems in which responses display that responsible decisions using critical and creative thinking have been made, work effectively with others as a member of a team, organize and manage him/herself and his/her activities responsibly and effectively, collect, analyze, organize and critically evaluate performance, communicate effectively using mathematical and language skills, demonstrate an understanding of the world and as a set of operated systems by recognizing that problem-solving contexts do not exist in isolation, and benefit by full personal development, thus contributing to the social and economic development of South African society at large.
    In the assessment strategy as a whole, evidence must be demonstrated through a variety of options:
  • Case studies
  • Problem-solving assignments,
  • Simulated trading environment
  • Portfolio management contributing to strategic planning
  • Media interpretation relating to qualification outcomes
  • Written and oral testing

    Assessment tools used include:
  • Written (e.g. tests/case studies/projects)
  • Simulations
  • Role-play / structured classroom discussions
  • Portfolio of evidence
  • Technology based testing

    The assessment must integrate a number of different methods (no less than three) in order to give the assessor reliable and valid proof of competence and evidence of required attitudes.

    Throughout the qualification use is made of both formative and summative assessment methods, to ensure integrated assessment results.

    The final integrated assessment needs to have the following characteristics:
  • Research is being done on an ongoing basis to keep up to date with changes in the financial markets and to keep in touch with the needs of individuals and the industry at large.
  • A portfolio of all the training material used is kept and reviewed on a six monthly basis.
  • The learners will be accountable for self-evaluation exercises at the end of each module of the duration of the learning programme.
  • The assessor should use a continuous assessment method. This mechanism ensures that learning did take place and knowledge was imparted in the previous module. Evaluation is done through short tests, activities and assignments.
  • After the completion of the training programme, the learners have to participate in a final examination before being awarded the qualification.
  • It should measure applied competence. It should thus assess whether learners are able to integrate the ability to perform important financial actions (as set out under the exit level outcomes) competently (a practical competence), understand the theoretical basis for these actions (foundational competence), and reflect on and make changes to financial and investment practices (reflexive competence). 
    		•

    INTERNATIONAL COMPARABILITY 
    The demands of worldwide financial markets, international comparability of unit standards and qualifications are essential. The outcomes of this qualification benchmarks with similar international qualifications` outcomes such as:
  • The CFA (Chartered Financial Analysts) programmes
  • ACI Dealing Certificate
  • GARP (Global Assessment of Risk professionals) programmes
  • ICMQ (International Capital Market Qualification)

    Outcomes of this qualification have also been recognized internationally. Similar outcomes were used by the New York Institute of Finance. Certain of the outcomes have also been incorporated in qualifications in Hong Kong by The Financial Training Company of the UK (FTC).

    This qualification will give the learner a competitive ability in the international financial markets and instruments environment. 
    		•

    ARTICULATION OPTIONS 
    The qualification articulates the needs in the following industries / fields:
  • Banking
  • Insurance
  • Financial Planning
  • Auditing and Accounting
  • Unit Trusts and other Collective Investment Schemes
  • Financial market traders

    The learner benefiting from this qualification will range from individuals to large corporate institutions.

    This qualification will also assist and enhance similar qualifications in the financial markets and instruments arena. The qualification builds on a range of outcomes in various sub-sectors and will provide articulation with a range of qualifications.

    Articulation for National Diploma in Financial Markets & Instruments:
    Learners who have successfully completed sufficient unit standards making up the National Diploma in Financial Markets & Instruments may apply to be awarded. The individual learner should track the progress of attaining such qualification. The responsibility for collecting and presenting the required evidence of the completion of the unit standards comprising the National Diploma in Financial Markets & Instruments lies with the individual learner. 
    		•

    MODERATION OPTIONS 
    Internal and external moderation of learner achievement is essential to meet requirements of transparency, affordability, fairness, reliability and validity.

    The moderation process will support the professional and educational development needs in the financial markets sector. Moderation of the qualification will occur through the process of moderation established for individual unit standards.

    The following will be included in the moderation:
  • Assessors must be registered as an Assessor with the relevant ETQA
  • Moderators must be registered as Assessors with the relevant ETQA
  • Training providers must be accredited by the relevant ETQA
  • It is recommended that the Bankseta ETQA will co-ordinate all moderation activities in accordance with their policies and procedures
  • Moderation should be included at exit points of the qualification
  • Moderation should also encompass achievement of the competence described both in individual unit standards as well as the integrated competence described in the qualification. 
    		•

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    For an applicant to register as an assessor, the applicant needs:
  • A minimum of 1 (one) years` practical, relevant occupational experience
  • Declared competent in all the outcomes of the National Assessor Unit Standards as stipulated by SAQA.
  • Detailed documentary proof of educational qualification, practical training undergone, and experience gained by the applicant must be provided. 
    		•

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this qualification was Reregistered in 2009; 2012; 2015. 

    NOTES 
    As per the SAQA decision to re-register all provider-based qualifications on the National Qualifications Framework that meet the criteria for re-registration, this qualification has been re-registered from 1 July 2018. CREDIT REQUIREMENTS

    The qualification represents a compilation entirely constructed from otherwise discrete unit standards, the level of the qualification is determined, in accordance with the Regulation Gazette 6140 of 28 March 1998, by the highest level of 72 of the constituent credits. To obtain the qualification 72 credits at or above level 6 should be obtained.
    The fundamental learning component must comprise 10 credits from the field of communications and language studies and 10 credits from the sub-field of mathematics or computers. In total 50 credits should be on the fundamental component.
    The core learning component must contain at least 50 credits at Level 6 or above, of which 50 must be drawn specifically from the sub-field of Finance. In total 140 credits should be on the core component.
    The elective learning component must comprise 40 credits from the field of Finance at Level 6 or above. In total 50 credits should be on the elective component. 

    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
     
    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.
     
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    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.