NISM Series 12 Securities Markets Foundation Certification Exam Notes

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  • Settlement Price: Weighted average of last 30 minutes for daily MTM.
  • Clearing Bank: Handles settlement payments for clearing members.
  • Risk of Default: Margins and capital requirements reduce default risks.
  • Derivative Benefits: Enable hedging, enhance liquidity, and improve price discovery.
  • Derivative Costs: High leverage increases potential losses.

NISM 12 Securities Markets Foundation

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