NISM Series XIII Common Derivatives Certification Exam Notes
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Authorized Person: Appointed by a trading member to provide clients access to the trading platform as an agent.
Clearing Members: Facilitate clearing and settlement; include Professional Clearing Members, Trading Cum Clearing Members, and Self Clearing Members.
Investor / Client: Trades through a trading member, must have a unique client code (UCC) linked to PAN, and can place orders through various channels like internet or phone.
Exchange Trading System: Fully automated, screen-based, order-driven system ensuring transparency and nationwide access.
Features of Exchange Trading System: Real-time order and price information, anonymous order matching on price-time priority, connected to clearing, surveillance, and data systems.
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