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The examination seeks to create a common minimum knowledge benchmark for:

  • The approved users and sales personnel of the trading members of the Currency Derivatives Segment of a recognised stock exchange and trading in Currency Derivatives
  • The approved users and sales personnel of the trading members who are registered as such in the Currency Derivatives Segment of a recognized stock exchange and trading in Interest Rate Derivatives
  • The associated persons functioning as approved users and sales personnel of the trading members of an equity derivatives exchange or equity derivative segment of a recognized stock exchange

 

The examination aims to enable a better understanding of various derivatives products available in the three derivatives segments (i.e., Equity Derivatives, Currency Derivatives and Interest Rate Derivatives), regulations and risks associated with these products and the exchange mechanisms of clearing and settlement. The examination also covers knowledge competencies related to the understanding of the financial structure in India and the importance of the different rules and regulations governing the Indian securities market, especially those related to the exchange traded derivatives.

Examination Objectives:

On successful completion of the examination the candidate should:

  • Know the basics of the Indian derivatives market (covering Equity Derivatives, Currency Derivatives and Interest Rate Derivatives).
  • Understand the various trading and hedging strategies that can be built using futures and options.
  • Understand the clearing, settlement and risk management as well as the operational mechanism related to the derivatives markets.
  • Know the regulatory environment in which the derivatives markets operate in India.

 

Assessment Structure:

The NISM-Series-XIII: Common Derivatives Certification Examination will be a 150 marks examination to be completed in 3 hours. It will have 150 questions of 1 mark each. There will be negative marking of 25% of the marks assigned to a question. The passing score for the examination is 60% which is 90 marks out of total marks of 150.

 

Test Details:

Name of Examination: NISM-Series-XIII: Common Derivatives Certification Examination

Fees (Rs.)

Test Duration (in minutes)

No. of Questions

Maximum Marks

Pass Marks* (%)

Certificate Validity (in years)#

3000+

180

150

150

60% or 90 marks

3

* Negative marking – 25% of the marks assigned to the question.
+ Payment gateway charges extra.
# Passing Certificate will be issued only to those candidates who have furnished/updated their Income Tax Permanent Account Number (PAN) in their registration details.

 

For more details, please refer to NISM’s Communiqué / Press Release for NISM-Series-XIII: Common Derivatives Certification Examination (NISM/Certification/Series-XIII: COM/2014/01 dated December 9, 2014) available in the “Circulars” section of NISM website.

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