NISM Series XIII Common Derivatives Certification Exam Notes

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  • Cash Settlement: Most IRFs in India are cash-settled, not physically delivered.
  • Notional Bonds: Hypothetical bonds used as IRF underlyings.
  • Contract Expiry: Typically the last Thursday of the contract month.
  • Margin Requirements: Initial and variation margins ensure financial integrity.
  • Price Computation: Incorporates spot price, interest rates, and time to expiry.

NISM Common Derivatives

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