NSE creates software for students to learn stock market
Central Board of Secondary Education and NSE have collaborated to introduce a software to help students of financial market management, a vocational course dealing with stocks and commodity market, better understand the subject in a practical manner.chandigarh Updated: Aug 18, 2012 22:58 IST
Central Board of Secondary Education and National Stock Exchange (NSE) have collaborated to introduce a software to help students of financial market management, a vocational course dealing with stocks and commodity market, better understand the subject in a practical manner.Ever since the introduction of the course two years ago, students had been complaining that they were unable to understand the actual working of the stock market while acquiring bookish knowledge.
The new software - NSE Learn to Trade (NLT) - aims to develop in students the investment and trading skills needed in financial markets. The web-based software enables students to practice and develop such skills in financial market simulation labs on laptops or personal computers while sitting in their classrooms as well as homes.
In 2010, the CBSE introduced financial market management as the Government of India and board officials opined that school passouts needed to be more financially literate as was the case with young people in other parts of the world. Financial education was introduced from class VI onwards.
"India has more than two crore investors and a large number of foreign institutional investors. As per industry estimates, there is a shortage of more than 50,000 professionals in stock and commodity market alone. Keeping in view the acute shortage of trained professionals and the emphasis of Government of India on development of employability skills, the CBSE had introduced financial market management as a vocational subject for senior secondary classes. But students were facing some problems with the subject due to absence of practical training," said CBSE regional officer RJ Khanderao.
"In stock and commodity markets, both speed and accuracy are extremely important. To acquire these skills, without losing money in actual market, has always been a challenge, particularly for the beginners. This problem has been addressed by the national stock exchange by developing a specially designed mock trading software to simulate actual market conditions. This will help students immensely to understand the subject," added Khanderao. He said that the software would also attract more students to the vocational course as many were currently shying away due to problems faced due to difficulty in understanding the subject.
"In the tricity schools, students had given a cold shoulder to FMM course since it was not an easy task to make them understand stocks and market ups and downs. But with this software, things are definitely going to change as there are so many students who want to pursue this subject," said the regional officer.
What the software is all about?
The students would learn and practice a total of six modules, 3 each in class XI and XII, through NLT. These modules are Numeric Speed Accelerator (NSA) where the objective of NSE is to develop speed and accuracy with numbers and basic arithmetical operations, without seeing keyboard. Second aspect of the software is Function Key Accelerator (FKA) where the objective is to develop familiarity with the name of shares, their symbols, prices and quantity, using most frequently used function keys. Thirdly, Trading Skill Accelerator (TSA) would help improve both speed and accuracy in punching buy/sell order,
Fourthly, Arithmetic Skill Accelerator (ASA) would help develop mental arithmetic calculation skills in the quickest possible time.
Fifthly, Neat On Web Simulation for Equity Shares (NSS) is the live trading platform of NSE on CTCL (computer to computer link) used by the trading members. Lastly, Neat On Web Simulation Equity Derivatives (NSD) would provide virtual trading platform to students to develop trading and risk management skills using equity derivatives.