In accordance to the announcement made by the Finance Minister in his Budget Speech in February 2005. The regulator for securities markets in India, Securities and Exchange Board of India (SEBI) established National Institute of Securities Markets (NISM) in Mumbai, India.
The objective of establishing National Institute of Securities Market is to promote the securities market education and research at the various levels in India and abroad. Towards accomplishing the desire NISM has established six different and distinct schools to provide the education of
different segments of securities market to the investor, issuers, intermediaries, regulatory staff, policy makers, and academia and future professionals of securities markets. To enhance the knowledge NISM provides various securities market publication to participants of securities industry.
NISM is engaged in developing certification examinations for professionals employed in various segments of the Indian securities markets. NISM certification includes: Currency derivatives examination, Corporate certification examination, Securities intermediaries compliance (non-fund) certification
examination, Interest rate derivatives certification examination, Mutual fund distributors certification examination, Mutual fund foundation certification examination, Depository operations certification examination, Securities operations and risk management certification examination, Equity derivatives, Investment Adviser (Level 1) Certification Examination, Certified personal financial advisor (CPFA) examination.
NISM certification examination aims to enable the better understanding of securities market. The examination seeks to create a common minimum knowledge benchmark for persons working in various segment of securities market.