JSE Begins FISD Certification Rollout to Data Staff

Ana Forssman, director of market data at the exchange, says that since JSE is South Africa's only exchange, local market data industry professionals aren't exposed to the same levels of experience and training opportunities available in leading finance capitals such as London, where there is a concentration of multiple trading venues, and where banks' data staff may have relationships with more than 100 exchanges.
The first JSE staff member to pass the exam is a market data financial analyst hired about a year ago, while another employee is expected to complete the certification this year. By the end of next year, Forssman says she hopes that all senior staff members in the market data division─10 employees out of a total of about 14 in the market data team─will have taken the exam.
"When it comes to market data, unless you get a market data practitioner from another exchange or end-user company, you have to start from scratch," Forssman says, referring to the lack of experienced staff in South Africa. "If they don't have an understanding of the complexities of the market data industry, there is no opportunity for them to be able to have a comprehensive conversation with a new or existing client, because this environment is technologically so complex, and changing so quickly, that the amount of time they'd have to stay in the industry before they can even have a conversation is that much longer," she says.
According to Forssman, it takes about a year of on-the-job training to acquire the "comprehensive foundation" of industry knowledge provided by the exam. "The reason we've only done it now is because up until last year there was no possibility to do e-learning modules," she says. Online training modules from London-based Learning Modules, are one way that candidates can study the program requirements online in the absence of─or alongside─class-based training.
Forssman plans to discuss the possible benefits of introducing the certification in other divisions within the exchange─including staff responsible for data technology, as well as teams such as trading and product development.
David Anderson, principal of Atradia Consulting and program director at FISD, says the adoption of the certification by these departments will allow them and their market data colleagues to do a better job when they have to interact with each other.
"This is an important mechanism to educate the uninitiated, the people who are less familiar with the market data industry," Anderson says.
Forssman also intends to have discussions with JSE clients to determine to what extent they could make use of the certification─which she says "would increase their awareness of the importance of this industry,"─and to promote the certification to other African exchanges during an upcoming JSE industry seminar titled "Building African Financial Markets" in September. "With those exchanges becoming more sophisticated and having to engage with market data, it's important for them to understand," she says.
Indeed, Anderson says JSE can act as an "advocate" for market data expertise and the certification in Africa, where data is used to a lesser degree than in other parts of the world, adding that the certification would expose local practitioners to all "the nuances, complexities and opportunities" of the market data industry.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
Symphony introduces Cloud9 mobile app
The messaging and collaboration platform is extending the “turret-like” technology and connectivity of Cloud9 to smartphones.
EU banks want the cloud closer to home amid tariff wars
Fears over US executive orders have prompted new approaches to critical third-party risk management.
Growing pains: Why good data and fortitude are crucial for banks’ tech projects
The IMD Wrap: Max examines recent WatersTechnology deep dives into long-term technology projects at several firms and the role data plays in those efforts.
Waters Wavelength Ep. 317: Bitdefender and Transilvania Quantum
This week, Bitdefender’s Adrian Coleșa and Transilvania Quantum’s Sorin Boloș join to discuss security vulnerabilities in quantum computing.
Investing in the invisible, ING plots a tech renaissance
Voice of the CTO: Less than a year in the job, Daniele Tonella delves into ING’s global data platform, gives his thoughts on the future of Agile development, and talks about the importance of “invisible controls” for tech development.
Evalueserve tames GenAI to boost client’s cyber underwriting
Firm’s insurance client adopts machine learning to interrogate risk posed by hackers
Waters Wavelength Ep. 316: Finbourne Technology’s Toby Glaysher
This week, Toby Glaysher, chairman at Finbourne Technology, joins the podcast to discuss the asset servicing industry.
State Street’s interop play for FX and easing technical debt
Waters Wrap: About six years ago, State Street partnered with Interop.io to tie together its GlobalLINK suite of platforms. Anthony explores how this plays into the “reuse” mantra.