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: 

Occupational Certificate: Financial Markets Practitioner 
SAQA QUAL ID QUALIFICATION TITLE
117238  Occupational Certificate: Financial Markets Practitioner 
ORIGINATOR
Development Quality Partner - SAIS 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
-   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  180  Not Applicable  NQF Level 07  Regular-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Registered  SAQA 12129/20  2020-07-30  2025-07-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2026-07-30   2029-07-30  

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 replaces: 
Qual ID Qualification Title Pre-2009 NQF Level NQF Level Min Credits Replacement Status
93603  Occupational Certificate: Financial Markets Practitioner  Not Applicable  NQF Level 07  120   

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:
The purpose of this qualification is to prepare a learner to operate as a Financial Markets Practitioner. Financial Markets Practitioners provide services across various functions in the stockbroking and investment environments. They are involved in the take-on of clients, the assessment of clients' investment needs, the development of suitable investment portfolios, trading and settlement of financial markets transactions, the management of corporate actions and the monitoring and re- balancing of portfolios.

A qualified learner will be able to:
  • Analyse, evaluate and review information on securities and market conditions for investment purposes and prepare market-related reports and communication.
  • Interpret, evaluate and apply financial markets legislation and regulations in the provision of investment services.
  • Evaluate clients' investment needs and objectives and provide investment services.
  • Apply the ethics, principles, values and processes as prescribed when trading on behalf of clients.
  • Settle financial market transactions according to accepted practice/s.
  • Manage corporate action events and calculate their effects on the market and on client portfolios.

    Rationale:
    The Financial Markets Practitioner occupation is currently one of the occupations in high demand in South Africa. In addition to the overall need for skilled financial markets practitioners, the South African Institute of Stockbrokers (SAIS) as well as the Association for Savings and Investment in South Africa (ASISA), were extensively consulted in the development of this qualification, confirmed that there is a need for transformation in the financial markets industry. This qualification was developed in order to enhance the flow of young financial markets practitioners into the labour market and to support the growth of the number of Black professionals in the industry.

    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.

    This qualification provides access to learners with a general financial qualification at NQF Level 6 to specialised occupations in the areas of investment advice and portfolio management, trading and settlement and investment administration. It also provides an opportunity for people already employed in the industry to obtain a formal qualification.

    This qualification forms one of the entry level qualifications that lead into the learning pathway towards the registered designation of Certified Stockbroker (SA). 

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

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

    Entry Requirements
  • NQF Level 6 qualification in finance or a related field of study,
    OR
  • NQF Level 6 qualification with three years' relevant assessed work experience in the financial markets. 

  • RECOGNISE PREVIOUS LEARNING? 

    QUALIFICATION RULES 
    This qualification is made up of the following compulsory Knowledge, Practical Skills and Work Experience Modules:

    Knowledge Modules:
  • 241204-000-01-00-KM-01, Introduction to Financial Markets, Level 6, 5 Credits.
  • 241204-000-01-00-KM-02, Asset Class - Equities Securities, Level 7, 12 Credits.
  • 241204-000-01-00-KM-03, Asset Class - Interest Bearing Securities, Level 7, 8 Credits.
  • 241204-000-01-00-KM-04, Asset Class - Derivative Securities, Level 7, 5 Credits.
  • 241204-000-01-00-KM-05, Asset Class - Alternative Securities, Level 7, 5 Credits.
  • 241204-000-01-00-KM-06, Basic Economics, Level 7, 10 Credits.
  • 241204-000-01-00-KM-07, Asset Class - Foreign Exchange, Level 7, 3 Credits.
  • 241204-000-01-00-KM-08, The Regulation of the Financial Markets, Level 7, 12 Credits.
  • 241204-000-01-00-KM-09, Client Service and Investment Advice, Level 7, 12 Credits.
  • 241204-000-01-00-KM-10, Trading, Level 7, 10 Credits.
  • 241204-000-01-00-KM-11, Settlement of financial markets transactions, Level 7, 10 Credits.
  • 241204-000-01-00-KM-12, Corporate Actions, Level 7, 7 Credits.
  • 241204-000-01-00-KM-13, Investment Vehicles, Level 6, 5 Credits.
    The total number of credits for Knowledge Modules: 104.

    Practical Skills Modules:
  • 241204-000-01-00- PM-01, Analyse, Evaluate and Review Equity Securities for Investment Purposes, Level 7, 8 Credits.
  • 241204-000-01-00- PM-02, Analyse, Evaluate and Review Interest Bearing Securities for Investment Purposes, Level 7, 3 Credits.
  • 241204-000-01-00- PM-03, Apply Economic Knowledge to the Investment Environment, Level 7, 3 Credits.
  • 241204-000-01-00- PM-04, Examine the Regulatory and Legislative Landscape applicable to Financial Markets, Level 7, 3 Credits.
  • 241204-000-01-00- PM-05, Prepare Investment Advice in a Simulated Environment, Level 7, 8 Credits.
  • 241204-000-01-00- PM-06, Use a Simulated Trading System to Apply Trading Knowledge, Level 7, 4 Credits.
  • 241204-000-01-00- PM-07, Explain the Settlement Process to a Controlled and Non- controlled Client, Level 7, 3 Credits.
  • Practical Skills, 241204-000-01-00- PM-08, Interpret Corporate Action Announcements and Process the Resulting Transactions, Level 7, 3 Credits.
  • Practical Skills, 241204-000-01-00-PM-09, Apply the Unitisation Concepts, Level 6, 5 Credits.
    The total number of credits for Practical Skills Modules: 40.

    Work Experience Modules
  • 241204-000-01-00-WM-01, Perform Activities in a Financial Markets Organisation, Level 7, 36 Credits.
    The total number of credits for Work Experience Modules: 36. 

  • EXIT LEVEL OUTCOMES 
    1. Analyse, evaluate and review information on securities and market conditions for investment purposes and prepare market-related reports and communication.
    2. Interpret, evaluate and apply financial markets legislation and regulations in the provision of investment services.
    3. Evaluate clients' investment needs and objectives and provide investment services.
    4. Apply the ethics, principles, values and processes as prescribed when trading on behalf of clients.
    5. Settle financial market transactions according to accepted practice/s.
    6. Manage corporate action events and calculate their effects on the market and on client portfolios. 

    ASSOCIATED ASSESSMENT CRITERIA 
    Associated assessment criteria for Exit Level Outcome 1:
  • Analyse, synthesise and consolidate relevant information relating to securities and the economic environment.
  • Analyse the roles of local and international financial markets in the economy and the interaction between the macro-economic environment and the financial markets.
  • Explain the structure and composition of the various markets with specific reference to the roles, responsibilities and/or powers of the various market participants and regulating institutions.
  • Apply financial markets terminology in the preparation of market-related reports and communication.
  • Identify, evaluate and report risk factors and their effect on the financial markets and securities.

    Associated assessment criteria for Exit Level Outcome 2:
  • Analyse the financial markets legislative landscape.
  • Identify and apply the effect of legislative obligations on the management of clients from take-on to termination of the relationship.
  • Interpret and apply anti-money laundering and counter terrorist financing legislation to practical client situations.
  • Analyse and evaluate instances of market abuse and explain the consequences and defenses.
  • Interpret and apply the regulatory requirements of financial services providers.

    Associated assessment criteria for Exit Level Outcome 3:
  • Evaluate the profile and investment needs of an investor and formulate an investment strategy.
  • Legislation, regulations and exchange rules and codes of conduct pertaining to the provision of financial markets information and the management of investments are identified and applied.
  • Explain the risks associated with different asset classes in appropriate language and at a level that the client can understand.
  • Construct and manage the investment portfolio in line with the investment strategy and clearly motivate decisions.
  • Prepare and explain investment reports.

    Associated assessment criteria for Exit Level Outcome 4:
  • Explain the trading capacities, periods and trading times of the various trading systems.
  • Analyse and apply the different trade types and the reporting requirements and regulations pertaining to the various trade types on the different markets.
  • Explain and apply the critical aspects of ethical trading and the concept of best execution.
  • Analyse case studies to identify manipulative or deceptive trading practices and the use of false and misleading or deceptive statements, promises and forecasts of information and evaluate the consequences of such behaviour.
  • Identify the risks pertaining to the trading process and propose ways to mitigate the identified risks.

    Associated assessment criteria for Exit Level Outcome 5:
  • Explain and apply the clearing and settlement process.
  • Explain and apply the settlement timelines and obligations of clients and authorised users in terms of the various markets and securities.
  • Apply risk mitigation strategies in terms of settlement timelines and obligations.

    Associated assessment criteria for Exit Level Outcome 6:
  • Identify and define corporate action events.
  • Apply corporate action timelines and calculate and evaluate their effects.

    Integrated formative assessment:
    The skills development providers will use the curriculum to guide them on the stipulated internal assessment criteria and weighting. They will also apply the scope of practical skills and applied knowledge as stipulated by the internal assessment criteria. Formative assessments lead to entrance into the external integrated summative assessment.

    Integrated summative 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. 

  • INTERNATIONAL COMPARABILITY 
    This qualification was compared to the following international professional qualifications: The Diploma in Capital Markets offered by the Chartered Institute of Securities and Investment (CISI) in the United Kingdom and the Graduate Diploma of Stockbroking and Financial Advising offered by the Australian Stockbrokers and Financial Advisers Association Limited in collaboration with the Sydney Graduate School of Management.

    United Kingdom - Diploma in Capital Markets - Chartered Institute for Securities and Investment (CISI):
    The Diploma in Capital Markets is a professional qualification for practitioners working in wholesale securities markets and offers individuals the opportunity to gain specialist knowledge of financial markets, bonds and fixed income, financial derivatives and fund management.

    This qualification consists of the following study units:
  • Securities.
    > The Industry.
    > Asset classes.
    > Primary markets.
    > Secondary markets.
    > Capital adjustments.
    > Clearing and settlement.
    > Accounting analysis.
    > Risk and reward.
  • Financial markets which is a professional level exam requiring candidates to think critically in the context of the analysis, interpretation and comparison of company information, making recommendations on fixed income and real investments, equity etc. plus one of the following.
  • Bond and fixed interest markets which covers the characteristics and structures of the major types of fixed interest securities, issuers and markets.
  • Financial derivatives which deals with the characteristics of derivatives including forwards, futures, swaps and others traded in the UK, their relationship to the underlying cash securities, and their use in achieving investment objectives.
  • Fund management which covers the activities, knowledge and techniques required to undertake the management of funds for institutional clients.

    Australia:
    The Graduate Diploma of Stockbroking and Financial Advising - Australian Stockbrokers and Financial Advisers Association Limited in collaboration with the Sydney Graduate School of Management:
    This qualification consists of the following compulsory modules:
  • Financial Products and Markets.
  • Financial Advisers Communication Skills.
  • Corporate Finance.
  • Funds Management and Portfolio Selection.
  • Commercial Law.

    Plus three of the following electives:
  • Principles of Taxation.
  • Superannuation.
  • Insurance and Risk Management.
  • Estate Planning.

    Conclusion:
    The Occupational Certificate: Financial Markets Practitioner compares favourably with both the professional qualifications cited above. Although the structure and emphasis of the qualifications differ, the current qualification is comprehensive and covers the same content and is aimed at a professional level similar to that of the two qualifications to which it was compared. 

  • ARTICULATION OPTIONS 
    Horizontal Articulation:
    This qualification articulates horizontally with the following qualification:
  • Advanced Diploma in Financial Markets, NQF Level 7.

    Vertical Articulation:
    This qualification articulates vertically with the following qualification
  • Postgraduate Diploma in Financial Markets, NQF Level 8. 

  • MODERATION OPTIONS 
    N/A 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    N/A 

    NOTES 
    Qualifying for external assessment:
    In order to qualify for an external assessment, learners must provide proof of completion of all required modules by means of statements of results and work experience.

    Foundational learning:
    Not required for this qualification.

    Additional legal or physical entry requirements:
    None

    Criteria for the accreditation of providers:
    Accreditation of providers will be done against the criteria as reflected in the relevant curriculum on the QCTO website.

    The curriculum title and code is: Financial Markets Practitioner: 241204-000-01-00.

    Encompassed Trades:
    This qualification encompasses the following trades as recorded on the NLRD:
    This is not a trade related qualification.

    Part qualifications:
    None

    Assessment Quality Partner:
    South African Institute of Stockbrokers. 

    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
    When qualifications are replaced, some (but not all) of their learning programmes are moved to the replacement qualifications. If a learning programme appears to be missing from here, please check the replaced 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.
     
    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.