NISM Series XIII Common Derivatives Certification Exam Notes

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  • Currency Futures Price Band: No daily limits, but operating ranges exist to prevent erroneous orders.
  • Currency Options Price Band: Based on delta and underlying price; minimum ranges apply.
  • Trading Costs: Include statutory levies (GST, stamp duty), regulatory charges (SEBI fees, transaction fees), and brokerage fees.
  • Brokerage Cap: Max brokerage for futures is 2.5% of contract value; for options, 2.5% of premium or Rs.100 per lot, whichever is higher.
  • Commission Models: May include slab-wise, scrip-wise, or volume-based schemes; vary by broker type.

NISM Common Derivatives

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