NISM Series XIII Common Derivatives Certification Exam Notes
Page 162 Of 303
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IRRA Platform: Allows investors to close positions/cancel orders during broker system disruptions; for retail investors only.
Technical Glitch Reporting: Brokers must report incidents to Exchanges and SEBI promptly and submit root cause analyses.
Business Continuity: For interoperable segments, correlated contracts can be traded on alternative exchanges to hedge positions.
Surveillance: Exchanges monitor positions, prices, and volumes in real-time to prevent market abuse.
Price Limit Circuit Filter: Currency futures and options have operating ranges (+/- 3% or 5% of base price); dynamic relaxation applies if trends break limits.
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