National Institute of Securities Markets

What National Institute of Securities Markets does

National Institute of Securities Markets (NISM) is a public trust established in 2006 by the Securities and Exchange Board of India (SEBI) to serve as the regulator's dedicated capacity-building arm for India's securities markets. The institute administers 35+ certification examinations across derivatives, mutual funds, compliance, investment advisory, research analysis, alternative investment funds, and portfolio management — many of which are mandatory under SEBI (CAPSM) Regulations 2007 for market intermediaries. Beyond certifications, NISM runs long-term academic programs (PGDM in Securities Markets, LLM in Investments and Securities Law, PGP in Investment and Securities Markets, Post Graduate Certificate in FinTech, Certificate Programs in Data Science) in partnership with institutions including ICICI Bank, FPSB India, and MNLU Mumbai, alongside 70+ self-paced eLearning courses and Continuing Professional Education (CPE/eCPE) programs for certificate renewal.

NISM's technology platform comprises the NISM Certification Portal (cert.nism.ac.in) for registration, scheduling, and remote proctored examinations with camera/microphone identity verification; the eLearning platform (online.nism.ac.in) for self-paced delivery; and the NISM Skills Registry, a PAN-based centralized database holding 150,000+ verified candidates. The institute operates from its Mumbai headquarters and Patalganga training campus, with distribution reach into Greater Noida via the Galgotias University partnership.

The business model is volume-based: revenue derives from per-exam certification fees ranging from Rs. 0 (SEBI Investor Certification) to Rs. 3,000+ (Portfolio Managers Certification), eLearning course fees (typically Rs. 500), CPE/eCPE renewal fees, and tuition from academic programs. The customer base spans securities market professionals, students and aspiring professionals, retail investors (via investor education initiatives like the National Financial Literacy Quiz), and regulators/market intermediaries. As a SEBI public trust, NISM is not externally funded, does not publish financials, and operates under the regulatory umbrella of India's securities markets watchdog.

Name

National Institute of Securities Markets

Legal name

National Institute of Securities Markets

Website

https://nism.ac.in

Company type

Private

Founded year

2006

Operating status

Operating

Short description

NISM is a SEBI-established public trust offering mandatory and voluntary securities market certification examinations, long-term academic programs, eLearning courses, and investor education for India's market intermediaries, students, and retail investors.

Ownership category

akta.pro rank

Product category

Securities Market Education and Certification

NAICS

Colleges, Universities, and Professional Schools (6113), Colleges, Universities, and Professional Schools (61131)

SIC

Investment Advice (6282)

akta.pro primary industry

Securities & Investment Licensing Exam Prep (FINRA Series 7/63/65/66, SIE) (EDANAIAJ)

akta.pro secondary industries

Financial Services & Insurance (FINRA, CFP, IAR, Insurance CE) (EDAAALAJ), Information Security, Privacy & IT Governance (CISSP CPE, Privacy CE) (EDAAALAL)

Keywords

• Securities market certification
• Financial education
• Professional certification exams
• Investor education programs
• Capital markets training

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Certification Examination Fees: NISM charges examination fees for various certification modules ranging from free (SEBI Investor Certification) to Rs. 3000 (Portfolio Managers Certification). Fees vary by certification series and include GST where applicable.
2. eLearning Course Fees: Self-paced eLearning courses offered to professionals, students, and investors. Some modules like Merchant Banking Operations are priced at Rs. 500.
3. CPE/eCPE Programme Fees: Continuing Professional Education (CPE) and electronic CPE programmes for certificate renewal and professional development, including classroom-based and online formats.
4. Academic Program Fees: Long-term residential and non-residential academic programs including PGDM, LLM, PGP programs with tuition fees. Post Graduate Diploma in Management (Securities Markets) is a 2-year AICTE-approved program.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels9 records

Core offering

NISM is a public trust established by SEBI that administers standardized certification examinations, long-term academic programs, eLearning courses, and investor education initiatives for India's securities markets. It functions as the primary capacity-building institution for securities market professionals, delivering SEBI-mandated and voluntary certifications across derivatives, mutual funds, compliance, investment advisory, research analysis, and portfolio management. The institute also offers postgraduate diplomas, certificates, and continuing professional education programs in partnership with universities and financial institutions.

Product overview

NISM is a public trust established by SEBI in 2006, operating as an educational and capacity-building institution for India's securities markets. The organization offers a comprehensive portfolio centered around its certification examination system (35+ certification exams across multiple series covering derivatives, mutual funds, compliance, investment advisory, research analysis, AIFs, portfolio management, and social impact assessment), complemented by long-term academic programs (PGDM, LLM, PGP programs in securities markets and FinTech), eLearning modules, CPE/eCPE continuing education programs, and investor education initiatives. The NISM Skills Registry provides certificate verification services. The institution also partners with universities and conducts training programs for market professionals and educators.

Differentiator

Problem solved

Functional benefit

Products and services

• NISM Certification Examinations SEBI-mandated and voluntary certification examinations for securities market professionals covering derivatives, mutual funds, compliance, investment advisory, research analysis, and alternative investment funds across 35+ certification series.
• Post Graduate Diploma in Management (Securities Markets) – PGDM (SM) Two-year AICTE-approved residential postgraduate diploma program designed to equip students with in-depth knowledge of securities markets.
• LLM (Investments and Securities Law) One-year full-time advanced legal program in Investment and Securities Laws, offered in collaboration with MNLU Mumbai.
• Post Graduate Program in Investment and Securities Markets (PGPISM) One-year residential postgraduate program providing exposure to varied subjects and verticals of investments and securities markets.
• Post Graduate Certificate in Securities Markets (PGCSM) 9-month classroom training program at NISM followed by 3-month internship at ICICI Group, in partnership with ICICI Bank.
• Post Graduate Program in Financial Planning (PGPFP) Joint NISM-FPSB India program integrating financial planning competencies with securities market knowledge for professionals pursuing careers in wealth management and financial advisory.
• Post Graduate Program in Securities Market (Portfolio Management/Investment Advisory/Research Analysis) 15-month weekend postgraduate program preparing students for careers in portfolio management, investment advisory, or research analysis.
• Certificate Program in Data Science (CPDS) – Basic Basic data science certificate program enabling candidates to collect and manage data responsibly with focus on financial and securities applications.
• Certificate Program in Data Science (CPDS) – Advance Advanced data science certificate program for professionals seeking in-depth knowledge of data science in financial and securities markets.
• Post Graduate Certificate in FinTech (PGCFT) 10-month online weekend postgraduate certificate program equipping professionals and students with FinTech knowledge.
• eLearning Platform Self-paced online learning platform offering 70+ courses including Merchant Banking Operations, Equity and Derivatives Segments, Depository Operations, Mutual Fund Operations, AIF Sales, and Portfolio Management Services.
• Investor Education Programs Investor awareness initiatives including webinars, masterclasses, educational videos, the National Financial Literacy Quiz (NFLQ), and educational content on financial concepts, investment risks, and securities markets for the general public.
• NISM Skills Registry Centralized online database of NISM certified candidates for employer and regulator verification using PAN-based lookup, containing data for over 150,000 candidates.
• Continuing Professional Education (CPE/eCPE) Programs Continuing professional education programs (classroom and online) for certified candidates to maintain and renew their certifications across various securities market segments.
• NISM-IFSCA Certification Course Certification courses developed for the International Financial Services Centre Authority (IFSCA), including AML and CFT provisions in the IFSC.
• Corporate Training Programs Customized corporate training programs, Faculty Development Programs (FDP), and Management Development Programs (MDP) for organizations and educational institutions.
• Study Material Portal Online portal providing free downloadable workbooks and study materials for all NISM certification examinations.

Quantifiable outcome

• 26 Lakh+ certified candidates across India
• +2 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Galgotias UniversitycoreStrategic or Co-development Partner · 30 May 2026NISM has entered into a collaboration with Galgotias University in Greater Noida to strengthen professional learning opportunities in securities markets, financial services, derivatives, fintech, and risk management. Under the partnership, students will gain access to NISM certifications, e-learning modules, faculty development programmes, and expert engagement opportunities across multiple disciplines including business, finance, technology, and analytics. The collaboration aims to prepare students for career opportunities in financial services, fintech, consulting, and capital markets through industry-aligned training and certification pathways.
• Indian Institute of Corporate Affairs (IICA)coreStrategic or Co-development Partner · 19 May 2026NISM, SEBI, and IICA signed an MoU in Mumbai on 19 May 2026 to collaborate on corporate governance, ESG standards, sustainability reporting, and capital market development. The partnership aims to enhance knowledge exchange, policy support, research, and capacity building, including designing training programs for stakeholders and regulators.
• ICICI BankcoreStrategic or Co-development PartnerICICI Bank has partnered with NISM to launch Post Graduate Certificate in Securities Markets (PGCSM) program. The 9-month classroom training at NISM is followed by a 3-month internship at ICICI Group, preparing graduates for careers in securities markets.
• Financial Planning Standards Board India (FPSB India)coreStrategic or Co-development PartnerNISM and FPSB India have collaborated to launch a joint Post Graduate Program in Financial Planning (PGPFP), integrating financial planning competencies with securities market knowledge for professionals seeking careers in wealth management and financial advisory.
• Maharashtra National Law University (MNLU), MumbaiminorStrategic or Co-development PartnerCollaboration for LLM (Investments and Securities Law) program, providing legal education in securities market regulations and investment laws.
• Taxmann Publications Private LtdminorChannel Partner/ Reseller/ DistributorAuthorized distributor for NISM study material workbooks in physical book format, available through retail outlets across major Indian cities including Mumbai, Delhi, Bangalore, Chennai, Kolkata, Hyderabad, Ahmedabad, Bhopal, Cochin, and Patna.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Regional players

• Institute of Chartered Accountants of India (ICAI): ICAI is India's statutory body for chartered accountants and a peer in professional certification for finance professionals. While the CA qualification is broader, ICAI is comparable as a SEBI-recognized credentialing authority whose members overlap with NISM's compliance and fund management exam candidates.

Direct peers

• Chartered Institute for Securities & Investment (CISI): CISI is a UK-based body offering securities and investment qualifications globally. It is directly comparable as a chartered professional body for capital markets intermediaries and investment advisers, operating in markets where NISM alumni compete for roles.
• Financial Planning Standards Board India (FPSB India): FPSB India administers the CFP certification in India and is also a NISM partner on the PGPFP program. It is a direct peer in financial planning certification serving overlapping candidates in investment advisory and wealth management roles.
• BSE Institute Ltd: BSE Institute is the education arm of BSE (Bombay Stock Exchange), offering financial markets training, certifications, and academic programs in India. It directly competes with NISM in capital markets education and skill development.
• CFA Institute: CFA Institute is the global standard-setter for investment professional credentials (CFA charter, CIPM). It is directly comparable as a globally recognized certification body serving investment advisers, portfolio managers, and research analysts—the same roles NISM certifies through its Series X, XV, and XXI exams, though CFA is privately governed and global.
• Global Association of Risk Professionals (GARP): GARP administers the FRM and other risk-related certifications globally. It is directly comparable to NISM as a specialty certification body for finance/risk professionals, with a similar model of exam-based credentials, continuing education, and institutional partnerships.
• NSE Academy: NSE Academy is the training arm of the National Stock Exchange, offering financial markets courses and certifications in India. It directly competes with NISM's eLearning and academic programs for Indian students and professionals targeting capital markets careers.
• National Association of State Boards of Accountancy (NASBA): NASBA administers the US Uniform CPA Exam and CPA licensure. It is directly comparable as a regulator-affiliated body administering mandatory professional licensure exams in the US, mirroring NISM's role under SEBI in India.

Emerging players

• Imarticus Learning: Imarticus Learning is an Indian ed-tech focused on finance, analytics, and technology certifications. It is comparable as a private-sector emerging player offering competing certifications and job-aligned programs in the same Indian financial markets talent pipeline that NISM serves.
• TalentSprint: TalentSprint is an emerging player in India offering deep-tech and finance certification programs in partnership with institutions like IIIT Hyderabad and NSE. It competes with NISM in executive education and fintech certification, especially in the digital delivery segment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/national-institute-of-securities-markets

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about National Institute of Securities Markets