NISM Series XIII Common Derivatives Certification Exam Notes
Page 147 Of 303
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Execution delay, illiquidity and settlement mismatches can create naked positions.
Hedging Parameters:To hedge, decide on: derivative contract, hedge type (long/short) and contract month.
Contract Selection:Choose the contract based on currency pair exposure (e.g., USDINR or EURINR).
Type of Hedge:Long hedge for paying foreign currency; short hedge for receiving foreign currency.
Hedging Timing:Select contract month so expiry is just after expected receipt or payment date.
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