NISM Series XIII Common Derivatives Certification Exam Notes
Page 119 Of 303
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Customization: OTC contracts can match specific needs of counterparties.
Hedgers: Use derivatives to manage currency risk from exchange rate movements.
Speculators: Trade based on expected price movements; benefit from leverage and low transaction costs.
Arbitrageurs: Exploit price differences across markets to make risk-free profit.
Legal Framework: Governed by FEMA, RBI, SEBI, IRDAI, PFRDA, etc.
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