NISM Series XIII Common Derivatives Certification Exam Notes
Page 231 Of 303
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Notional Bond IRFs: Based on 6-year, 10-year, or 13-year bonds.
Cash Settlement Risk: May lead to imperfect hedging.
Margin Calls: Required to cover potential losses.
Contract Tenure: Weekly or monthly expiries available.
Price Discount: IRF prices often trade below future prices due to borrowing costs.
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