The document discusses the NSE Certified Market Professional (NCMP) certification program. NCMP certificates are issued based on candidates clearing modules from the NCFM program. Candidates must clear a certain number of modules to qualify for different NCMP levels, such as 3-4 modules for Level 1 and 11 or more modules for Level 5. Only valid NCFM certificates obtained after August 2007 will count towards NCMP certification. The hierarchy of NCMP certifications is intended to demonstrate candidates' domain knowledge of financial markets.

1. NSE Certified Market Professional (NCMP) certificates are issued to
those candidates who have cleared NCFM modules (stated in Table
below) as per the following eligibility criteria:
NCMP Level 1 3 – 4 modules
NCMP Level 2 5 – 6 modules
NCMP Level 3 7 – 8 modules
NCMP Level 4 9 - 10 modules
NCMP Level 5 11 or more modules
Sr. No. Name of Module
BEGINNERS MODULES
1 Financial Markets: A Beginners’ Module
2 Mutual Funds : A Beginners' Module
3 Currency Derivatives: A Beginner’s Module
4 Equity Derivatives: A Beginner's Module
5 Interest Rate Derivatives: A Beginner’s Module
6 Commercial Banking in India : A Beginner's Module
7 Clearing Settlement and Risk Management Module
OTHER MODULES
1 Back Office Operations Module
2 Banking Sector Module
3 Capital Market (Dealers) Module
4 Commodities Market Module
5 Derivatives (Advanced) Module
6 Derivatives Market (Dealers) Module
7 FIMMDA-NSE Debt Market (Basic) Module
8 Financial Market (Advanced) Module
9 Fundamental Analysis Module
10 Insurance Module
11 Investment Analysis and Portfolio Management Module
12 Macroeconomics for Financial Markets Module
13 Merger & Acquisitions Module
14 Mutual Funds (Advanced) Module
15 NSDL–Depository Operations Module

2. 16 Operations Risk Management Module
17 Options Trading (Advanced) Module
18 Options Trading Strategies Module
19 Project Finance Module
20 Securities Market (Advanced) Module
21 Securities Market (Basic) Module
22 Technical Analysis Module
23 Wealth Management Module
24 Venture Capital and Private Equity Module
This hierarchy of certifications is aimed at enabling the candidates
to better demonstrate their domain knowledge relating to financial
markets.
Candidates are requested to kindly take note of the following:
 Only valid NCFM certificates (i.e. certificates not yet time-barred) for the modules stated in Table 1,
obtained on or after August 17, 2007, will be taken into account for NCMP certification. However, the
NCMP certificate itself would have no validity period. At most one Beginners’ module will be counted
towards certification for Level 1 and not more than two Beginners’ modules will be counted towards
certification for Level 2 and above.
 Only successful attempts for distinct modules will be considered. In other words, if a candidate has
successfully cleared the same module more than once, then only one of those attempts of that particular
module will be considered for the NCMP certification.
 In case a candidate is found to be eligible for more than one level, then only the certificate for the highest
level will be issued to the candidate. (For example: As of today if a candidate already holds 7 valid
certificates since August 17, 2007, then he/she will be directly eligible for NCMP Level 3 certification.)
 The NCMP certificates will be given in addition to the usual NCFM certificates that are issued to
candidates.
 The NCMP certificates will be generated on a monthly basis and will be dispatched in the subsequent
month.
Circular regarding NCMP certification can be accessed below:
Circular download
no.
Date Particulars
NSE/NCFM/12900 August 17, 2009 Introduction of NCMP certificates
NSE/NCFM/19484
December 2,
2011
NCMP certification: Introduction of
Level 5