Minneapolis, Minn., November 22, 1999 — National Computer Systems, Inc., (NCS) (NASDAQ: NLCS) announced today that it has been selected by National Association of Securities Dealers Regulation, Inc., (NASD Regulation) to be the exclusive delivery provider of computer-based NASD RegulationSM examinations and continuing education outside of the United States and Canada. NASD Regulation, an independent subsidiary of the National Association of Securities Dealers, Inc., (NASD®) is charged with regulating the securities industry and The Nasdaq Stock MarketSM. Terms were not disclosed.
Securities professionals who trade securities on any U.S. stock exchange on behalf of customers must register with the NASD. As part of the registration process, securities professionals must pass qualification examinations that demonstrate competence in the areas in which they will work. Registered representatives must also participate in periodic computer-based training to ensure that they adhere to continuing education requirements.
NASD Regulation is a pioneer in electronic testing, beginning the practice of delivering licensing exams electronically in 1979. “We are pleased that, through NCS’ unique Internet-based delivery system, we will have the opportunity to offer their advanced testing services to our international registered representatives. We anticipate that NCS’ customer-oriented approach to service will have a positive impact on the representatives’ learning and testing experience,” said Mary L. Schapiro, NASD Regulation president.
NCS will use the technology it currently employs to deliver hundreds of thousands of Information Technology exams for industry leaders such as Microsoft Corporation and Novell, Inc. Delivery of the NASD Regulation exams and continuing education is expected to begin next spring in London, Paris, Frankfurt, Seoul, Hong Kong and Tokyo.
“NCS is delighted to be signing this exclusive agreement with NASD Regulation for international computer-based testing,” commented David W. Smith, president of NCS’ Assessments and Testing business. “This agreement continues our momentum in the professional certification market. We look forward to a strong working relationship with NASD Regulation.”
NASD Regulation oversees all U.S. stockbrokers and brokerage firms. NASD Regulation, along with The Nasdaq Stock Market, Inc., are subsidiaries of the NASD, the largest securities industry self-regulatory organization in the United States.
NCS is a global information services company providing software, services, and systems for the collection, management, and interpretation of data. NCS (www.ncs.com) serves important segments of the education, testing, assessment, and complex data management markets. Headquartered in Minneapolis, NCS has 4,600 employees serving its customers from more than 30 locations worldwide.