NISM Series XIII Common Derivatives Certification Exam Notes

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  • Margin Requirements: Ensure financial integrity in exchange-traded derivatives.
  • Market Participants’ Roles: Vary based on risk appetite and objectives.
  • Interest Rate Sensitivity: Derivatives are highly sensitive to rate changes.
  • Liquidity Risk: OTC derivatives may face lower liquidity than exchange-traded.
  • Counterparty Risk: Higher in OTC due to lack of central clearing.

NISM Common Derivatives

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