NISM Series XIII Common Derivatives Certification Exam Notes

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  • Position Limits: Caps on trading member positions to manage risk.
  • Default Handling: Closing out positions of defaulting members.
  • Investor Protection Fund: Compensates investors for member defaults.
  • Interoperability: Allows clearing across exchanges for efficiency.
  • Daily Settlement Price: Computed for futures if trading halts.

NISM Common Derivatives

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