NISM Series XIII Common Derivatives Certification Exam Notes
Page 85 Of 303
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Client Margin: Recorded separately from broker’s own funds.
Profit/Loss Recognition: MTM gains/losses credited/debited to P&L account.
Option Buyer: Loss limited to premium paid, recorded as expense.
Option Seller: Premium received as income, potential loss provisioned.
Balance Sheet: Open positions valued at MTM or premium.
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