NISM Series XV : Research Analyst Certification Exam Notes
Page 15 Of 62
Go to:
Employee Stock Option Scheme (ESOPs) are instruments given by a company to its employees that give them an option to buy the shares of the company at pre-determined price after a period of time (referred as vesting period). Typically, the vesting period is more than one year.
Over-The-Counter Markets (OTC) are the markets where trades are directly negotiated between two or more counterparties. In this type of market, the securities are traded and settled over the counter among the counterparties directly.
Exchange Traded Markets - The other option of trading in securities is through the stock exchange route, where trading and settlement is done through the stock exchanges. The trades executed on the exchange are settled through the clearing corporation, which acts as a counterparty and guarantees the settlement of the trades to both buyers and sellers.
Authorised Person -is any person (individual, partnership firm, LLP or body corporate), who is appointed by a stock broker or trading member as an agent to reach out to the investors scattered across the country.
MODELEXAM® 
www.realsoftinfoplan.com