NISM Series XIII Common Derivatives Certification Exam Notes
Page 157 Of 303
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Trader Workstation (TWS): Terminal for trading members to access the Exchange system using unique IDs; displays own trades and market data.
Order Placement: Orders accepted by brokers undergo risk checks and are placed through multiple channels including DMA, ALGO, and STWT.
Order Routing: Orders are entered, verified, time-stamped, and routed to the Exchange where matching happens based on market depth.
Internet / Phone Orders: Clients can place orders via dedicated numbers or websites; brokers must verify client identity using secure methods.
Order Book: Shows unmatched buy/sell orders with price levels and quantities; enhances market transparency.
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