NISM Series XIII Common Derivatives Certification Exam Notes
Page 161 Of 303
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Trade Annulment: Possible within 30 minutes of execution under specific conditions; may incur fees.
Risk Management: Brokers perform risk checks like order limits, client exposure, and margin requirements before sending orders to the Exchange.
Types of Risks: Operational (process failures), Market (price fluctuations), and Credit (client defaults).
Pre-Order Checks: Include price range, quantity freeze, value limits, UCC/PAN verification.
Pre-Trade Checks: Include trade execution range, self-trade prevention, market price protection, and emergency kill switches.
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