NISM Series XIII Common Derivatives Certification Exam Notes
Page 120 Of 303
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Exchange-Traded Advantages: Transparency, elimination of counterparty risk, low cost, and price discovery.
Exchange-Traded Limitations: Standardization may lead to imperfect hedge; operational issues from daily margining.
Market Evolution: OTC and exchange markets increasingly overlap; OTC uses electronic trading and clearing.
Growth Drivers: Increased volatility, market integration, technology, advanced risk tools, product innovation.
Currency Derivatives Importance: Significant share in global derivatives market by notional amount.
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