Securities Markets Foundation Curriculum - NISM
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The National Institute of Securities Markets (NISM) is a public trust established in 2006 by the Securities and Exchange Board of India (SEBI), the regulator of the securities markets in India. The institute carries out a wide range of capacity building activities at various levels aimed at enhancing the quality standards in securities markets.

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Curriculum – NISM Series-XII: Securities Markets Foundation Certification Examination

I: UNDERSTANDING SECURITIES MARKETS AND PERFORMANCE

  1. Securities Markets

  2. Securities

  3. Securities Markets: Structure and Participants

  4. Role of Securities Markets

  5. Technological advancements in the securities market

 

II: SECURITIES: TYPES, FEATURES AND CONCEPTS OF ASSET ALLOCATION AND INVESTING

  1. Securities available in the securities market

  2. Choice between Equity and Debt Financing for Issuers

  3. Characteristics and role of equity capital

  4. Characteristics and role of Debt securities

  5. Choosing between Debt and Equity Investment Avenues

  6. Hybrid Instruments

  7. Characteristics and role of Commodities as an asset class

  8. Derivatives as investments

  9. Asset Allocation and Diversification

  10. Understanding the factors underlying the investment process

  11. Various aspects of investing in Equity

  12. Equity Investing Process

  13. Various aspects of investing in Debt securities

  14. Debt Investing Process

 

III: PRIMARY MARKETS

  1. Primary Market: Definition and Functions

  2. Primary Vs Secondary Markets

  3. Intermediaries in Primary Market

  4. Types of Issues

  5. Types of Issuers

  6. Types of Investors

  7. Regulatory Framework for Primary Markets

  8. Types of Public Issue of Equity Shares

  9. Pricing a Public Issue of Shares

  10. Public Issue Process of equities

  11. Prospectus

  12. Applying to a Public Issue

  13. Listing of Shares

  14. Rights Issue of Shares

  15. Regulatory requirements for a Public Issue of Debt Securities

  16. Public issue process for debt securities

  17. Private Placements in Equity and Debt

 

IV: SECONDARY MARKETS

  1. Role and Function of the Secondary Market

  2. Types of secondary markets for different securities

  3. Market Structure and Participants

  4. Brokers and Client Acquisition

  5. Trade Execution

  6. Clearing and Settlement of Trades

  7. Trading and settlement process from investor’s point of view

  8. Market Information and Regulation

  9. Risk Management Systems

  10. Rights, Obligations and Grievance Redressal

  11. Secondary market trading and reporting for debt securities

 

V: MUTUAL FUNDS

  1. Meaning and Description of a Mutual Fund

  2. Terms and Concepts Related to Mutual Funds

  3. Types of Open-ended Mutual Fund Products

  4. Types of Closed ended Mutual Fund Schemes

  5. Investment approaches – active and passive

  6. Processes for Investing in Mutual Funds

  7. Systematic Transactions

  8. Switches

  9. Reading Mutual Fund Information

  10. Benefits and Costs of Investing in Mutual Funds

  11. Regulation of Mutual Funds

  12. Investor Service Standards

  13. Specialized Investment Fund

 

VI: DERIVATIVE MARKETS

  1. Derivatives

  2. Underlying concepts in Derivatives

  3. Types of Derivative Products

  4. Structure of Derivative Markets

  5. Trading and Settlement Process: Equity Futures

  6. Risk Management in Derivative Markets

  7. Application of Derivatives Products in Risk Management

  8. Market Indicators

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