For creating certificate run this command:
makecert -r -pe -n \"CN=effectLabs Server\" -b 01/01/2011 -e 01/01/2020 -sky exchange C:\\myCerts\\ELServer.cer -sv C:
for anyone still still getting this error even after installing the mentioned above SDK, make sure to include the path to the makecert file in the system env path, which should be along the lines of : C:\Program Files\Microsoft SDKs\Windows\v7.1\Bin
makecert
C:\Program Files\Microsoft SDKs\Windows\v7.1\Bin