SAQA

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SOUTH AFRICAN QUALIFICATIONS AUTHORITY

REGISTERED QUALIFICATION:

Advanced Occupational Diploma: Financial Markets Practitioner

SAQA QUAL ID	QUALIFICATION TITLE
125998	Advanced Occupational Diploma: 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
Advanced Occupational Dip	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		EXCO 0840/26	2026-06-02	2031-06-02
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2032-06-02		2035-06-02

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
117238	Occupational Certificate: Financial Markets Practitioner	Not Applicable	NQF Level 07	180	Complete

PURPOSE AND RATIONALE OF THE QUALIFICATION

Purpose:
The purpose of the Advanced Occupational Diploma: Financial Markets Practitioner is to prepare a learner to function as a Financial Markets Practitioner.

Financial Markets Practitioners provide services across various functions in the stockbroking and investment environments; involved in the take-on of clients, assessment of clients' investment needs, development of suitable investment portfolios, trading and settlement of financial markets transactions, management of corporate actions and monitoring and re-balancing of portfolios.

This qualification equips learners with specialised knowledge and skills critical for analysing and navigating the complexities of financial markets. Learners gain proficiency in developing investment strategies, managing portfolios and understanding market conditions, which are invaluable in carving out a successful career in finance. Furthermore, this qualification opens doors to diverse roles within the industry, from investment advice and trading to settlement and administration. It is particularly beneficial for those seeking to enhance their credentials and increase their employability in a competitive job market. Additionally, the qualification supports lifelong learning and professional development, providing a strong foundation for further advancement, such as pursuing the esteemed designation of Certified Stockbroker (SA).

A qualified learner will be able to:

Analyse, evaluate and review information on securities and market conditions and client investment objectives to inform suitable investment strategies and portfolios.

Engage in activities related to market trading, applying related ethics, principles, values and processes.

Settle financial market transactions according to accepted practice/s.

Manage corporate action events and calculate their effects on the market and on client portfolios.

Manage client portfolios by preparing and validating comprehensive reports, calculating and attributing performance, and maintaining compliance with regulatory and client-specific objectives.

A qualified learner will demonstrate the following key attributes: sense of urgency, adaptability, accuracy, critical, fact-based decision making, client oriented, analytical and client-risksensitive.

Rationale:
The Financial Markets Practitioner occupation is currently one of the occupations in high demand in South Africa. This qualification was developed 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 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, 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 learners with a general financial qualification at NQF Level 6, with access to 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 is part of the pathway that leads towards the registered designation of Certified Stockbroker (SA).

List similar Qualification(s) Part-Qualifications/Skills Programmes that are already NQF registered/ QCTO approved:

Advanced Certificate in Financial Markets and Disruption, NQF Level 06.

The Advanced Occupational Dimploma: Financial Markets Practitioner significantly enhances the competence and integrity of professionals within the industry. It equips individuals with the skills to analyse securities, evaluate market conditions, and align investment strategies with client objectives.

The qualification ensures a high level of professionalism and ethical conduct in market trading. Practitioners are also trained to manage transactions accurately and handle corporate actions effectively, thereby maintaining market stability and client trust. This qualification raises the standard of service in the financial sector and supports the transformation and diversification of the workforce, helping to fill the high demand for skilled professionals in South Africa.

The Financial Markets Practitioner qualification plays a crucial role in advancing financial inclusion within society. It opens doors for a diverse range of individuals, particularly from underrepresented groups, and it fosters a more equitable financial landscape. This inclusion ensures that a broader spectrum of society can participate in financial markets, empowering individuals with the tools and knowledge necessary to make informed investment decisions. As these practitioners bring diverse perspectives into the financial sector, they help tailor financial products and services to meet the varied needs of all societal segments. This transformation promotes equality, opportunity and helps bridge the gap between different socio-economic groups, which create a more inclusive and resilient financial ecosystem.

Economically, the qualification supports a robust financial system, which ensure that market activities are conducted competently and ethically. This, in turn, builds investor confidence and attracts both local and international investments. It prepares practitioners to adapt to regulatory changes and market dynamics, and helps sustain economic stability and growth. Additionally, the development of skilled professionals contributes to the overall efficiency and competitiveness of the financial markets, which are essential for the broader economic health of the nation.

Typical learners would be people who already work in the financial sector and who want to transition into the financial markets industry.

Collaboration with relevant stakeholders:

Commercial Banks.

Financial Markets Practitioners.

Professional Bodies.

Stockbrokers.

List typical occupations in which the qualifying learner will operate (if relevant):
Financial Markets Practitioner.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

Recognition of Prior Learning (RPL):
RPL for Access to Training:
Learners may use the RPL process to gain access to training qualification if they do not meet the formal, minimum entry requirements for admission. RPL assessment provides an alternative access route into a qualification.
Such an RPL assessment may be developed, moderated, and conducted by the accredited Skills Development Provider which offers that specific qualification. Such an assessment must ensure that the learner is able to display the equivalent level of competencies required for access, based on the NQF level descriptors.

For exemption from modules through RPL, learners who have gained the stipulated competencies of the modules of a qualification through any means of formal, informal or non-formal learning and/or work experience, may be awarded credits towards relevant modules, and gaps identified for training, which is then concluded.

RPL for Access to the External Integrated Summative Assessment (EISA):

Learners who have gained the stipulated competencies of the modules of a qualification through any means of formal, informal or non-formal learning and/or work experience, may be awarded credits towards relevant modules, and gaps identified for training, which is then concluded.

A valid Statement of Results is required for admission to the EISA in which confirmation of achievement is provided that all internal assessment criteria for all modules in the related curriculum document have been achieved.

Upon successful completion of the EISA, RPL learners will be issued with the QCTO certificate for the qualification. Quality Partners are responsible for ensuring the RPL mechanism and process for qualifications is approved by the QCTO.

Entry Requirements:

An NQF Level 06 qualification in Finance or related fields.

RECOGNISE PREVIOUS LEARNING?

QUALIFICATION RULES

This qualification is made up of compulsory Knowledge, Practical Skill and Work Experience Modules:

Knowledge Modules:

241204-000-02-KM-01, Fundamentals of the South African Financial Markets Environment, NQF Level 7, 5 Credits.

241204-000-02-KM-02, Essential Principles of Equity Securities as an Asset Class, NQF Level 7, 12 Credits.

241204-000-02-KM-03, Essential Principles of Interest-Bearing Securities as an Asset Class, NQF Level 7, 8 Credits.

241204-000-02-KM-04, Essential Principles of Derivative Securities as an Asset Class, NQF Level 7, 5 Credits.

241204-000-02-KM-05, Essential Principles of Alternative Investments as an Asset Class, NQF Level 7, 5 Credits.

241204-000-02-KM-06, Fundamentals of Economics within the Financial Markets Context, NQF Level 7, 10 Credits.

241204-000-02-KM-07, Essential Principles of Foreign Exchange as an Asset Class, NQF Level 7, 3 Credits.

241204-000-02-KM-08, Regulatory Framework Governing the South African Financial Markets, NQF Level 7, 12 Credits.

241204-000-02-KM-09, Fundamentals of the South African Financial Markets Environment, NQF Level 7, 14 Credits.

241204-000-02-KM-10, Essential Principles of Equity Securities as an Asset Class, NQF Level 7, 10 Credits.

241204-000-02-KM-11, Settlement of Financial Markets Transactions, NQF Level 7, 10 Credits.

241204-000-02-KM-12, Essential Principles of Corporate Actions and Their Impact on Investment Portfolios, NQF Level 7, 7 Credits.

241204-000-02-KM-13, Essential Principles of Collective Investment Vehicles and Exchange Traded Funds, NQF Level 6, 5 Credits.

Total number of credits for Knowledge Modules: 106

Practical Skill Modules;

241204-000-02-PM-01, Analyse Equity Securities for Investment Purposes, NQF Level 7, 8 Credits.

241204-000-02-PM-02, Analyse Interest-Bearing Securities for Investment Purposes, NQF Level 7, 3 Credits.

241204-000-02-PM-03, Apply Economics to the Investment Environment, NQF Level 7, 3 Credits.

241204-000-02-PM-04, Apply Regulatory and Legislative Landscape Applicable to Financial Markets, NQF Level 7, 3 Credits.

241204-000-02-PM-05, Provide Investment Advice, NQF Level 7, 10 Credits.

241204-000-02-PM-06, Apply a Trading System to a Trading Process, NQF Level 7, 4 Credits.

241204-000-02-PM-07, Apply Settlement Process to a Controlled and Non-Controlled Client, NQF Level 7, 3 Credits.

241204-000-02-PM-08, Interpret Corporate Action Announcements and Process the Resulting Transactions, NQF Level 7, 3 Credits.

241204-000-02-PM-09, Apply the Unitisation Concepts, NQF Level 6, 5 Credits.

Total number of credits for Practical Skill Modules: 42

Work Experience Modules:

241204-000-02-WM-01, Occupational Procedures for Analysing, Evaluating and Reviewing Information on Securities, Market Conditions and Client Investment Objectives, NQF Level 7, 8 Credits.

241204-000-02-WM-02, Occupational Procedures for Completing Client Take-On Processes, NQF Level 7, 5 Credits.

241204-000-02-WM-03, Occupational Procedures for Settling Financial Market Transactions, NQF Level 7, 7 Credits.

241204-000-02-WM-04, Occupational Procedures for Administering Corporate Actions and Reconciling their Impact on Portfolios, NQF Level 7, 7 Credits.

241204-000-02-WM-05, Occupational Procedures for Evaluating an Organisation's Control Environment, NQF Level 7, 5 Credits.

Total number of credits for Work Experience Modules: 32

EXIT LEVEL OUTCOMES

1. Construct client investment needs and objective sensitive investment strategies and portfolios.
2. Conduct market trading processes and procedures.
3. Settle financial market transactions.
4. Administer corporate actions and their impact on client portfolios.
5. Maintain client portfolios and related reports.

ASSOCIATED ASSESSMENT CRITERIA

Associated Assessment Criteria for Exit Level Outcome 1:
ELO 1: Construct client investment needs and objective sensitive investment strategies and portfolios.

Gather financial needs, objectives, and risk profiles from clients through conducted interviews.

Assess information from various sources, such as securities reports, financial periodicals, and stock quotation viewer screens to inform investment decisions.

Compile information reports on financial markets and products, including associated risks to aid client understanding.

Identify and recommend asset classes and products that satisfy clients' investment objectives.

Construct suitable investment strategies and portfolios to align with client mandates and regulatory requirements.

Inform clients of current regulatory requirements that could impact their investments.

Interpret and apply Anti-money laundering and counter-terrorist financing legislation, along with other regulatory requirements to client situations.

Analyse and evaluate instances of market abuse with consequences and defences explained to clients.

Associated Assessment Criteria for Exit Level Outcome 2:
ELO 2: Conduct market trading processes and procedures.

Perform execution of trades in accordance with client mandates.

Monitor trade types associated with regulatory obligations.

Monitor and evaluate trades against compliance, market conditions, and trading strategies to ensure adherence.

Monitor ethical standards and regulatory trading requirements adherence throughout trading activities.

Identify and mitigate risks in trading activities.

Facilitate collaboration with internal departments to align trading activities with overall portfolio objectives.

Associated Assessment Criteria for Exit Level Outcome 3:
ELO 3: Settle financial market transactions.

Match trades, correct pricing, cost allocations, and confirm client account details to ensure accuracy.

Manage and adhere to settlement processes, ensuring that timelines and custodial requirements are met.

Facilitate securities lending and borrowing arrangements as required to optimize portfolio management.

Investigate and reconcile exceptions and variances in settlement reports to maintain accurate records.

Conduct liaison with custodians and brokers to ensure trade integrity and resolve any discrepancies.

Associated Assessment Criteria for Exit Level Outcome 4:
ELO 4: Administer corporate actions and their impact on client portfolios.

Identify and record corporate action events to ensure accurate tracking.

Calculate and accurately record corporate actions, such as interest receipts to reflect client holdings.

Notify clients of relevant elective actions and capture their elections to align with their preferences.

Apply appropriate tax and base cost allocations according to client instructions to maintain compliance and accuracy.

Reconcile bank and custody holdings to ensure accurate entitlement distribution and prevent discrepancies.

Manage the end-to-end processing of income events and associated reporting to ensure timely and accurate financial records.

Associated Assessment Criteria for Exit Level Outcome 5:
ELO 5: Maintain client portfolios and related reports.

Prepare regular portfolio reports, including accounting and performance reports, with prices, price feeds, and performance inputs validated for accuracy.

Offer portfolio valuations tailored to client needs, with client cash flows accounted for to ensure precise management.

Calculate portfolio performance, attribute results, and generate reports relative to client benchmarks for clarity and transparency.

Engage clients in discussions about reports to ensure their investment objectives are consistently met.

Conduct bank reconciliation and address any discrepancies to guarantee accurate financial reporting.

Perform compliance checks, monitor breaches, and present necessary compliance reports.

Prepare and submit statutory reports to authorities, ensuring adherence to Global Investment Performance Standards (GIPS).

Address clients' compliance objectives, such as ethical filters.

Integrated Assessment:
Formative Assessments conducted internally.
Formative assessments are conducted throughout the training of learners. A range of formal, non-formal, and informal ongoing assessment activities is used to focus on teaching and learning outcomes to improve learner attainment.

Formative assessments are conducted continuously by the facilitator to feed into further learning, to identify strengths and weaknesses, and to ensure the learner's ability to apply knowledge, skills and workplace experience gained.

Formative Assessments are conducted by the accredited Skills Development Provider (SDP), and a variety of ongoing assessment methods may be used, for example, quizzes, assignments, tests, scenarios, role play, and interviews. Continuous feedback must be provided.

Integrated Summative Assessments conducted internally.
Integrated Assessment involves all the assessment tasks required for a particular qualification, such as written assessment of theory and practical demonstration of competence. To achieve this, the Internal Assessment Criteria (IAC) for all modules as found in the QCTO curriculum document must be followed.

An accredited SDP should implement a well-designed, formal, relevant, final internal Summative Assessment strategy for all modules to prepare learners for the EISA. These assessments evaluate learning achievements relating to the achievement of each module of the relevant components of the qualification.

Internal Summative Assessments are developed, moderated and conducted by the SDP at the end of each module or after integration of relevant modules, e.g., applied knowledge tests, workplace tasks, practical demonstrations, simulated tasks/demonstrations, projects, case studies, etc.

The results of these final formal summative assessments must be recorded. These results, which include the Statement of Work Experience results, where applicable, contribute to the Statement of Results (SoR) that is a requirement for admission to the EISA. An SoR, using the template provided by the Quality Partner, is issued by the accredited SDP for qualifications. The SDP must produce a valid Statement of Results for each learner, indicating the final result and the date on which the competence in each module, of each component, was achieved. Learners are required to produce this SoR, together with their ID document or alternative ID document, at the point of the EISA.

External Integrated Summative Assessment (EISA) - a national assessment.
The Quality Partner is responsible for the management, conduct and implementation of the External Integrated Summative Assessment (EISA), in accordance with QCTO set standards. Competence in the EISA is a requirement for certificating a learner.

For entrance into the EISA, the learner requires a valid Statement of Results issued by the accredited institution indicating the attainment of all modules for the Knowledge, Practical and Work Experience modules.

INTERNATIONAL COMPARABILITY

This qualification is compared with the following international qualification.

Country: United Kingdom.
Institution Name: The Chartered Institute of Securities and Investment (CISI).
Qualification Name: Diploma in Capital Markets.
Duration: One Year.

Entry requirements:

Background in finance.
Or

Business.

Purpose/Rationale:
The Diploma in Capital Markets is designed to provide professionals with an in-depth understanding of the workings of capital markets. It equips learners with the skills necessary to navigate the complexities of financial instruments and markets, ensuring they are well-prepared to meet the demands of modern financial environments. This qualification emphasizes ethical standards and regulatory compliance, vital for professionals aiming to advance in the securities and investment industry. The qualification has no formal entry requirements, but a background in finance or business is beneficial for understanding the course material.

The content of the qualification covers the following scope:

Comprehensive Market Insight: Gain a thorough understanding of the structure and functions of global capital markets.

Financial Instrument Proficiency: Develop the ability to analyse and evaluate various financial instruments, including equities, bonds, and derivatives.

Regulatory Understanding: Acquire knowledge of regulatory frameworks and ethical standards governing the securities and investment sectors.

Strategic Application: Ability to apply theoretical knowledge to real-world scenarios, enhancing strategic decision-making skills.

Similarities:
The content of the two qualifications is similar, such as financial markets, financial instruments and regulatory framework.

Differences:
The United Kingdom qualification is a year programme compared to the South African qualification, which has a duration of 18 months. The United Kingdom qualification has no formal qualification as an entry requirement, compared to the South African qualification, which requires NQF Level 6 qualifications in Finance or related.

Country: Australia.
Institution Name: Australian Stockbrokers and Financial Advisers Association Limited in collaboration with the Sydney Graduate School of Management.
Qualification Name: Graduate Diploma of Stockbroking and Financial Advising.
Duration: Two Years (2 Years).

Entry requirements:

Bachelor's degree or equivalent experience in finance.
Or

Learners preferably needs to be employed in a relevant role.

Purpose/ Rationale:
The Graduate Diploma of Stockbroking and Financial Advising aims to prepare participants for advanced roles in stockbroking and financial advisory. It focuses on developing key competencies in financial analysis, client relationship management and strategic portfolio management, ensuring that learners are equipped to provide high-quality advice and services in compliance with Australian regulations.

Qualification content covers the following scope:

Advisory Expertise: Develop a strong foundation in providing tailored financial advice, considering client needs and market conditions.

Regulatory Compliance: Understand and apply Australian financial market regulations and ethical considerations in advising and stockbroking practices.

Portfolio Management Skills: Gain proficiency in managing client portfolios, including risk assessment, asset allocation, and performance evaluation.

Similarities:
Both qualifications cover similar content, such as advisory service, regulatory framework, and portfolio management.

Differences:
The Australian qualification prefers employed candidates in Financial Markets related role, which resonate with a learnership, not a formal entry requirement. The South African qualification is six months shorter than the Australian qualification, which is two years.

Conclusion:
The Advanced Occupational Diploma: Financial Markets Practitioner qualification compares favourably with the two qualifications in terms of content and duration. The United Kingdom qualification is without a formal entry requirement.

ARTICULATION OPTIONS

This qualification provides opportunities for horizontal, vertical and diagonal articulation options.

Horizontal Articulation:
Within OQSF:

Advanced Occupational Diploma: Business Banker, NQF Level 07.

Between sub-frame works:

Advanced Diploma in Financial Management, NQF Level 07.

Vertical Articulation:

Specialised Occupational Diploma: Accountant in Practice, NQF Level 08.

Diagonal Articulation:

Postgraduate Diploma in Financial Analysis, NQF Level 08.

MODERATION OPTIONS

N/A.

NOTES

Additional Legal or Physical Entry Requirements:
None.

Criteria for the accreditation of providers:
Accreditation requirements, against which Skills Development Providers (SDP) and Assessment Centres, will be accredited, are found in the Curriculum Document, as listed below.

The curriculum title and code are: Advanced Occupational Diploma: Financial Markets Practitioner: 241204-000-02-00.

Encompassed Trade:
This is not a trade qualification.

Assessment Quality Partner (AQP):
Finance and Accounting Services Sector Education and Training Authority (FASSET).

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.

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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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