IntroductionStock Brokers are the professionals who are involved in buying and selling of securities for individuals or institutions in stock markets. As there is ample scope in this field, individuals can hope for a better future. Today's progressive brokers deal in billions rather than in millions. Brokers now have all their operations computerized and employ qualified industry specialists to advice on buying and selling of stocks.
Stock markets in India have gone through tremendous improvements in recent time with the introduction of various norms. These norms are for greater transparency in operations and the international trading and investment process. , today, are dealing with big numbers and big buyers. The capital markets are undergoing transformation.
The National Stock Exchange or NSE provides nationwide facilities with access to investors all over the country. The automated, screen-based trading system using state-of-the-art technology makes market operations transparent.
The Securities and Exchange Board of India (SEBI) has been empowered by an Act of Parliament to protect the rights of investors and ensure the promotion and regulation of the capital markets. It is the regulatory body in charge of the country's capital markets.
Eligibility & Attributes
The minimum educational qualification required to become a stock broker is a graduation with at least 2 years of experience in a stock broking firm. A sub-broker, the previous stage of being a broker needs to have passed the class 12th standard to be eligible for his job. Courses in stock broking and capital market and investment, investment planning and several other related courses are offered by few training institutes in India.
Stock broking business requires the services of specialists (in varied fields) - economists, accountants, finance managers, financial analysts, capital market specialists, and investments and financial planners. To become a professional stock broker one must have a strong education background either in commerce, economics or in business administration or in finance.
Also to be eligible for stock broking profession one may pursue Postgraduate courses in economics or commerce offered by several universities in the country. Finance managers may be MBAs with specialization in finance from the reputed institutes of management or from the departments of business administration of the major universities.
The Institute of Chartered Accountants of India (ICAI), New Delhi, conducts the chartered accountancy course for the intermediate level through the foundation course and directly for graduates.
There are about 21 active stock exchanges in India with 7000 listed companies, 6500 brokers and 538 investment bankers registered with the SEBI. This statistics are very impressive by any standards. Prospects for the stock broking business are bright and for those who are qualified to handle this business and have the necessary personality traits to cope with it, the openings are many.
Foreign firms are waiting in the wings to secure government clearance for participating in the stock exchanges. Indian brokers will, therefore, have to come to terms with real competition and ensure international standards of services to the investor.
Brokers or stock market professionals are now either playing host to foreign investment bankers, who are looking for opportunities on the Indian stock market, or visiting fund managers abroad seeking investment here. Stock market houses are redefining themselves and the business of stock broking is highly visible today. Communication links between the dealing room and the trading ring are being improved.
Institute of Company Secretaries of India
ICSI House, 22,
Institutional Area Lodhi Road,
New Delhi 110 003,
EPABX LINES: (011) 41504444, 24617321-24-, 24644431-32, Fax: 24626727
Course: Post-graduate membership course in capital market and financial services
Institute of Capital Market Development
1965, Arya Samaj Road,
Karol Bagh, New Delhi-110005
Course: One year postgraduate programme in fundamentals of capital market development.
All India Centre for Capital Market Studies
J. D. C.
Byte Institute of Management Studies and Research,
Course : One year post graduate programme in capital market studies, in collaboration with the Mumbai Stock Exchange Training Institute, leading to a diploma from the University of Pune. The course is open to graduates through an all-India selection process.
Mumbai Stock Exchange Training Institute
Stock Exchange Building,
Course: Certificate courses are run periodically throughout the year
Institute of Financial and Investment Planning
B/303, Ventex Vikas,
M. V. Road,
Course : One year correspondence cum lecture course leading to a diploma in financial and investment planning
Institute of Chartered Financial Analysts of India
Road No. 3, Banjara Hills,
Course: Courses on Chartered Financial Analyst Equity Research.
The institute is also planning a number of other related programmes
The Orion Institute of Capital Market
S- 11, Adarshini Plaza,
91, Adchini, Aurobindo Marg, New Delhi
The UTI Institute of capital Market
Plot 82, Sector - 17,