NISM Series XIII Common Derivatives Certification Exam Notes

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  • Seasonal Assets: Commodities with demand/supply patterns affect futures pricing.
  • Roll Over: Closing a near-month futures position and opening a far-month one.
  • Futures Payoff: Linear, with unlimited gain/loss potential.
  • Margin Calls: Additional funds required if MTM losses deplete margins.
  • Market Efficiency: Arbitrage aligns futures and cash market prices.

NISM Common Derivatives

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