Financial Market Management–Implementation guidelines

SUBJECTS OF STUDY

The FMM consists of three compulsory Professional subjects each in classes XI & XII in addition to two academic electives one of which must be a language. Though not compulsory, the students offering this package may be advised to offer Functional English for language-1.  For the second elective there are 3 optional academic subjects. The students may further opt for an additional sixth subject which can either be a language or an academic or a professional subject at the elective level, in order to ensure vertical mobility for pursuing higher studies, if necessary.  The subjects under FMM course are given below:-
Compulsory Vocational Subjects  -Class XI

1.    Accounting for Business-I
2.    Introduction to Financial Markets-I
3.    Computer Applications in Financial Markets
Optional – Mutual Fund OR Any one from existing academic subjects

Compulsory Vocational Subjects -Class XII

1.    Accounting for Business-II
2.    Introduction to Financial Markets-II
3.    Business Process Outsourcing Skills
Optional – Commodity Market OR Any one from existing academic subjects

EXAMINATION AND EVALUATION
Class XI
The practical examinations in all the papers will be conducted by the schools on an internal basis as is the practice in other subjects; however Board will provide the Question Papers and date sheet for final theory examinations in three vocational papers to be held in March 2009. These papers will also be evaluated internally by the schools.

Class XII
The theory and practical examinations in all the papers will be conducted by the CBSE on an external basis as is the practice in other subjects with the help of NSE and experts from the industry.

CBSE-NSE – JOINT CERTIFICATION

NSE is a leading Stock Exchange in India and one of the largest in the world. For the purpose of CBSE-NSE joint certification, the students will be required to pass 3 modules of NSE called NCFM (NSE’s Certification in Financial Markets) as given below:

1.    Financial Markets: A Beginners’ Module     To be passed during summer vacation between XI and XII Class. OR latest before the commencement of the Board examination in March.
2.    Capital Market (Dealers) Module    To be passed in class XII between 15th December to 28th February, before the commencement of Board examination in March.

3.    Derivatives Market (Dealers) Module

NCFM is a professionally accepted certificate in the finance market industry. Joint certification with NSE will add credibility to employability of CBSE students. NCFM-examination is an online computer based testing system that tests the practical knowledge and skills required to operate in the financial markets. It is a fully automated system with testing, assessing, scores reporting and invigilation in a secure and unbiased manner.

The NCFM module viz. Financial Markets: A Beginners’ Module is to be passed during the summer vacation between XI and XII. The students will get one more additional chance to pass this module without any additional fee before the commencement of the Board examination and therefore it will not affect the class XI result.

EQUIPMENT REQUIRED

The school should have sufficient computers with internet facility to introduce this new course. The software for the professional subjects for stock market trading, accounting etc will also have to be procured by the schools.

FACULTY AND QUALIFICATION

The qualification as required for the teaching staff is given below.

1.    QUALIFICATION – Full Time Teachers

a)    Essential

An M.Com./ MBA/ MA (Economics)/ Master of Financial Control/ Master of Financial Services or equivalent for Accounting for Business.
OR
A Bachelors degree from a recognized University/Institute with NSE’s Certification in Financial Markets (NCFM) having passed 3 modules with minimum 60% in
1.    Financial Markets (Beginners’ Module)
2.    Capital Market (Dealers) Module
3.    Derivative Market (Dealers) Module.

OR
A Bachelors degree in Computer Science/Application from recognized University/Institute with Minimum two years experience of working in all the modules of MS-Office (Word, Excel, PowerPoint, Outlook)

b)    Desirable
i    A Bachelor Degree in Education or a teaching degree from a recognized University/Institution
ii    Having experience in Accounting Software.

2.     Part Time Teachers
Practical trainers duly trained by organizations dealing in financial markets. The trainers should have passed the relevant modules of NSE.
OR

Practical Trainers should be from stock exchanges or stock broking companies/financial institutions or BPO Industry with minimum of 2 years of experience in the field.

Training of Teachers

As this is a new course, the CBSE will arrange to provide training to Master Trainers through experts from industry on payment. Two teachers for theory may be got trained by each of the schools opting for the FMM. The training required for two papers of class XI viz. Accounting for Business-I and Introduction to Financial Markets-I will be held at Delhi in a phased manner. The schools are required to have two teachers trained for the purpose. The details of the training programme will be intimated at a later date.