This book covers the basics of interest rate derivatives, trading strategies using interest rate derivatives, clearing, settlement and risk management, and the regulatory environment in which the interest rate derivatives markets operate in India.

This book aims to create a common minimum knowledge benchmark for the approved users and sales personnel of the ‘Trading Members’ registered in the Currency Derivatives Segment of a recognised stock exchange and trading in Interest Rate Derivatives. It will also be helpful to those who want to have a better understanding of various products available in the exchange-traded interest rate derivatives markets in India.

The Present Publication is the March 2022 workbook version, published exclusively by Taxmann for NISM Certification Examination IV [Interest Rate Derivatives], with the following noteworthy features:

• [Know the Basics] of fixed income securities markets and specifically interest rate derivative market in India and the developed world
• [Understand] the following:
  • The analytical framework required for the Bond Futures market in India, along with trading and hedging strategies involved
  • The clearing, settlement and risk management as well as the operational mechanism related to interest rate derivatives markets
• [Know the Regulatory Environment] in which the interest rate derivative markets operate in India
• [Sample Questions] This book also features sample questions with answers

Coverage of this book includes:

• Introduction to Interest Rate, Interest Rate Instruments and Fixed Income Market
• Interest Rate Derivatives
• Exchange Traded Interest Rate Futures
• Exchange Traded Interest Rate Options
• Strategies using Exchange Traded Interest Rate Derivatives
• Trading Mechanism in Exchange Traded Interest Rate Derivatives
• Clearing, Settlement and Risk Management in Exchanged Traded Interest Rate Derivatives
• Regulatory Framework for Exchange Traded Interest Rate Derivatives
• Accounting and Taxation
• Code of Conduct and Investor Protection Measure

About NISM Certifications:

NISM is a leading provider of high-end professional education, certifications, training and research in financial markets. NISM Certification programs aim to enhance the quality and standards of professionals employees in various segments of financial services sector. NISM’s School of Certification of Intermediaries (SCI) develops and conducts certification examinations and Continuous Professional Education (CPE) programs that aim to ensure that professional meet the defined minimum common knowledge benchmark for various critical market functions like:

• Mutual Funds
• Equities
• Derivatives
• Securities Operations
• Compliance
• Research Analysis
• Investment Advice

These Certifications and CPE Programs are being developed and administered by NISM as mandated under ‘Securities and Exchange Board of India (Certification of Associated Persons in the Securities Market) Regulations, 2007’. The Certifications creates quality market professionals and catalyzes greater investor participating in the markets. Certifications also provides structured career paths to students and job aspirants in the securities market.