14^th May, 2013

N O T I C E

Sub: Notification under regulation 3 of the Securities and Exchange Board of India Certification of Associated Person in the Securities Markets) Regulations, 2007

The Exchange has received a Gazette Notification on the captioned subject.  The contents of the said notification are reproduced below for information and implementation by the trading members:

Quote

No.LAD-NRO/GN/2012-13/30/5474 – In terms of sub-regulation (1) of regulation 3 of the Securities and Exchange Board of India (Certification of Associated Person in the Securities Markets) Regulations, 2007 (hereinafter referred to as “the Regulations”) the Board may require, by notification, any category of associated person as defined in the Regulations to obtain requisite certification(s).

Accordingly, it is notified that with effect from the date of this notification, the associated persons functioning as approved users and sales personnel of the trading members of an equity derivative exchange or equity derivative segment of a recognized stocks exchange shall obtain certification for the purpose of sub-regulation (2 of regulation 16C of the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) Regulations,1992 from the National Institute of Securities Market (hereinafter referred to as “NISM”) by passing the NISM – Series-VIII: Equity Derivative Certification Examination (hereafter referred to as “EDCE”) as mentioned in the NISM communiqué No.NISM/Certification/Series-VIII:ED/2012/01 dated September 20, 2012.

The trading members shall ensure that all such associated persons who are approved users or sales personnel as on the date of this notification obtain certification by passing EDCE within two years from the date of this notification.

Provided that a trading member, who engages or employs any such associated person who is an approved user or sales personnel, after the date of this notification, shall ensure that such person obtains certification by passing EDCE within one year from the date of his employment :

Provided further that an associated person, who is an approved user or sales personnel, has obtained any of the following certifications as on the date of this notification,-

a) BSE’s Certificate on Derivatives Exchange of Bombay Stock Exchange Limited;

b) NCFM-Derivative Market (Dealers) Module of National Stock Exchange of India Limited,

shall be exempted from the requirement of obtaining certification by passing EDCE till the validity of the said certification.

U.K. Sinha

Chairman

Securities and Exchange Board of India

Unquote :

Members are requested to take note of the above Gazette Notification of SEBI and are advised to ensure compliance with the requirements prescribed as above.

Sripriya Senthilkumar

 Dy.General Manager (SEO)