NISM Series XIII Common Derivatives Certification Exam Notes

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  • Fund Contributors: CCs, Exchanges, and clearing members contribute to the Core SGF.
  • Default Waterfall: Defines order of using member funds, insurance, SGF in case of default.
  • Client Collateral Protection: Mandatory margin pledging system via depositories.
  • No Title Transfer: Collateral must be pledged, not transferred.
  • Segregation: Client-level reporting of collateral and margins.

NISM Common Derivatives

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