The Chartered Institute of Stockbrokers, (CIS) has concluded arrangement to commence a new certification policy that would enable an aspiring stockbroker to specialize in a particular branch of trading.
Under the current professional certification, Vangaurd gathered that every stockbroker must pass all the courses to become certified and this certification qualifies the person to trade in all segments of the market.
However, under the new arrangement tagged Stand-alone Certification, an aspiring stockbroker can now choose to specialise in any of the following segments: equity trading, debt instruments, commodities, and derivative among others. This would effectively reduce the rigours of sitting for all the courses in the professional examination.
The new classification which has received the blessing of the Institute’s Governing Council is expected to be tied to professional examination in line with the speciality of the aspiring stockbroker.
Commenting on the new certification policy which is expected to take off soon, the Institute’s President and Chairman of Council, Mr. Oluwaseyi Abe expressed optimism that the new innovation would create multiple opportunities for aspiring stockbrokers to operate as the market had grown in terms of diverse instruments for trading.
Abe who commended the stockbrokers on their ability to scout for trading opportunities despite the complex operating environment noted that under the Stand-alone Classification, every stockbroker would find an attractive area to trade.
According to him, the Institute places high premium on innovation as this is a critical factor that would move every organization to the next level. He noted that the Institute would continue to come up with the latest thinking in the financial market in order to empower the stockbrokers.
The new specialization is expected to enhance more enrollment for the institute’s professional examination, shore up its membership base and raise the bar of its international profile.
Recently, Abe Stated that investor protection would always remain a topmost priority for both the regulators and operators in the Nigerian capital market.
Abe noted that the Institute would continue to collaborate with the regulators to ensure that Stockbrokers keep to the dictum: “My word is my bond”.
He explained that by global standard, the Nigerian Stock market had put in place various devices and processes to reinforce investor confidence in the market.
