NISM Series XIII Common Derivatives Certification Exam Notes
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Base Minimum Capital:Ranges from Rs. 10 lakhs to Rs. 50 lakhs based on activity type.
Eligibility for Entities:Individuals, partnerships, LLPs, companies, and banks must meet specific educational, experience, and structural criteria.
Authorized Person:Acts as an agent of the stock broker to provide trading access; must meet SEBI norms.
Accounting Guideline and Disclosure Requirements: Similar to other exchange-traded derivatives, accounting, valuation, and capital requirements for exchange-traded currency derivatives must comply with applicable accounting standards and valuation methods prescribed by ICAI or other relevant regulators.
ICAI Guidance Notes (Revised 2021): Banking, NBFCs, housing finance companies, and insurance entities must follow regulator-prescribed accounting treatment for derivative contracts. If no specific treatment exists, ICAI’s guidance applies.
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