NISM Series XIII Common Derivatives Certification Exam Notes

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  • Market Participants: Hedgers, speculators, and arbitrageurs with distinct objectives.
  • Hedging: Reduces risk from adverse interest rate movements.
  • Speculation: Aims to profit from predicted rate changes.
  • Arbitrage: Exploits price discrepancies for risk-free gains.
  • Hedging Strategies: Use futures/options to offset rate risk exposure.

NISM Common Derivatives

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