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NISM Series 7 — Securities Operations & Risk Management

Back-office, risk, settlement, and operations across capital markets — the backbone of a securities career.

60 hours of content7 chaptersFree during Phase 1

Quick info

Layer
NISM Certifications
Track
NISM Certifications
Estimated hours
60 hrs
Chapters
7
Exam body
NISM
Cost on Trustner
Free
Full course material live

Every chapter below has Foundation, Deep Dive, and Advanced material — read in any order, expand each chapter to see the full content.

About this course

NISM Series 7 (SORM) is the back-office and risk-management certification — the operational backbone of every brokerage, depository participant, custodian, and clearing member.

Who this is for

  • Back-office, settlement, and operations staff at broking firms.
  • Compliance officers and risk managers across SEBI-regulated entities.
  • Anyone moving into securities operations from adjacent roles.

What you'll learn

  • The full trade lifecycle from order to settlement
  • Role of clearing corporations, depositories, and custodians
  • Risk management — margins, position limits, default handling
  • Investor grievance machinery — SCORES, IGRC, arbitration

Course material — 7 chapters

Each chapter offers three tiers — Foundation for the core concept, Deep Dive for worked examples and practitioner depth, and Advanced for edge cases and exam tips. Click any chapter to expand.

  1. 1
    Chapter 1

    Indian securities market — structure

    • Primary vs secondary market
    • Exchanges, depositories, custodians, clearing corps
    FoundationDeep DiveAdvanced
  2. 2
    Chapter 2

    Market participants

    • Brokers, sub-brokers, FPIs, AIFs, mutual funds
    • Roles, registration, and reporting
    FoundationDeep DiveAdvanced
  3. 3
    Chapter 3

    Trade lifecycle

    • Order management, matching, confirmation
    • Pay-in, pay-out, novation by clearing corp
    FoundationDeep DiveAdvanced
  4. 4
    Chapter 4

    Clearing and settlement

    • T+1 cycle in India
    • Funds and securities settlement, auction
    FoundationDeep DiveAdvanced
  5. 5
    Chapter 5

    Risk management

    • Margins — VAR, ELM, MTM
    • Position limits, default and SGF
    FoundationDeep DiveAdvanced
  6. 6
    Chapter 6

    Investor protection

    • Investor grievance — SCORES
    • Arbitration and ombudsman
    FoundationDeep DiveAdvanced
  7. 7
    Chapter 7

    Regulations and compliance

    • SEBI Act, Securities Contracts Regulation Act
    • Insider trading and PFUTP regulations
    FoundationDeep DiveAdvanced

About the exam

Provider
NISM
Duration
2 hrs
Questions
100
Pass mark
50%
Exam fee
₹1,500

Note: Negative marking 25%.

The exam is administered by NISM. Trustner Academy is not affiliated with NISM; we provide independent preparatory educational material. See our disclaimer.

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