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NISM Series 8 — Equity Derivatives

Futures, options, and the equity derivatives market — required for anyone working as an approved user or sales person on the equity derivatives segment.

70 hours of content7 chaptersFree during Phase 1

Quick info

Layer
NISM Certifications
Track
NISM Certifications
Estimated hours
70 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

Required for sales personnel, dealers, and approved users on the equity derivatives segment. Covers futures, options, the option chain, hedging, and the operational mechanics of derivatives in India.

Who this is for

  • Sales and dealer staff at NSE / BSE member firms.
  • Active traders seeking a structured derivatives education.
  • Investment professionals expanding into options strategies.

What you'll learn

  • How forwards, futures, options, and swaps differ — and where each is useful
  • Pricing intuition for futures (cost-of-carry) and options (intrinsic + time value)
  • Reading an option chain and the four basic strategies
  • Margins, mark-to-market, and the daily settlement cycle
  • Risk management at the trader and at the firm level

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

    Basics of derivatives

    • Forwards, futures, options, swaps
    • Underlying, lot size, expiry
    FoundationDeep DiveAdvanced
  2. 2
    Chapter 2

    Equity derivatives in India

    • Index futures, stock futures, index options, stock options
    • Currency derivatives — overview
    FoundationDeep DiveAdvanced
  3. 3
    Chapter 3

    Pricing and Greeks

    • Cost-of-carry pricing for futures
    • Black-Scholes intuition; Delta, Gamma, Theta, Vega
    FoundationDeep DiveAdvanced
  4. 4
    Chapter 4

    Strategies and applications

    • Hedging, speculation, arbitrage
    • The four basic option strategies and their P&L diagrams
    FoundationDeep DiveAdvanced
  5. 5
    Chapter 5

    Trading mechanics

    • Order types, margins, mark-to-market
    • Settlement cycles, physical settlement
    FoundationDeep DiveAdvanced
  6. 6
    Chapter 6

    Risk management

    • SPAN margin, exposure margin
    • Position limits, circuit filters
    FoundationDeep DiveAdvanced
  7. 7
    Chapter 7

    Regulatory framework

    • SEBI regulations on derivatives
    • Code of conduct, investor protection
    FoundationDeep DiveAdvanced

About the exam

Provider
NISM
Duration
2 hrs
Questions
100
Pass mark
60%
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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