SECURITIES AND EXCHANGE BOARD OF INDIA
Mumbai, the 10th March, 2015
Common Derivatives Certification Examination : Notification under regulation 3 of the Securities and
Exchange Board of India (Certification of Associated Persons in the Securities Markets) Regulations,
No. LAD-NRO/GN/2014-15/23.—In terms of sub-regulation (1) of regulation 3 of the Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets) Regulations, 2007 (“the Regulations”), the Board may require, by notification, any category of associated persons as defined in the Regulations to obtain requisite certification(s).
2. Vide notification numbers LAD-NRO/GN/2009-10/04/163097 dated May 13, 2009, LAD/NRO/GN/2010-1 1/12/10230 dated June 29, 2010 and LAD-NRO/GN/2012-13/30/5474 dated January 11, 2013, the Securities and Exchange Board of India had specified NISM Series-I: Currency Derivatives Certification Examination (“Series-I: CD”), NISM-Series-IV: Interest Rate Derivatives Certification Examination (“Series-IV: IRD”) and NISM-Series-VIII: Equity Derivative Certification Examination (“Series VIII: EDCE”) respectively for approved users and sales personnel of the trading members of the respective derivative segments of a recognised stock exchange.
3.In consultation with the industry, it has been decided that instead of obtaining multiple certifications for various derivative segments as mentioned above, NISM Series XIII: Common Derivatives Certification Examination (“Series-XIII: CDCE”) as mentioned in the NISM communiqué No. NISM/Certification/SeriesXIII: COM/2014/01 dated December 09, 2014 is notified as an optional examination for the associated persons mentioned in the above cited notifications at para 2.
4. The associated persons who have obtained the Series-XIII:CDCE certification shall be deemed to have obtained the above cited certifications notified for different derivative segments.
5. The trading members shall ensure that all such associated persons who are approved users or sales personnel in the respective derivative segments shall obtain the certification as per the timelines mentioned in the respective notifications.
U. K. SINHA, Chairman [ADVT.-III/4/Extyi69 ZB/14]