NISM Series XIII Common Derivatives Certification Exam Notes

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  • Final Settlement: Occurs at expiry for futures and options.
  • Futures Settlement: Cash-settled for indices, physical for stocks.
  • Options Settlement: European options settle at expiry based on closing price.
  • Value-at-Risk (VaR): Margining method to assess potential losses.
  • SPAN System: Calculates margins based on maximum likely loss over one day.

NISM Common Derivatives

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