NISM Series XIIISEBI mandatoryTier B
Common DerivativesCertification Guide.
A combined certification covering equity, currency, commodity, and interest rate derivatives in one exam. Useful for professionals spanning multiple derivative segments.
IntermediateDifficulty
Suggested prep: 20-25 days
25%Negative marking
Avoid blind guessing.
3 yearsValidity
Computer-Based Test (CBT)
Rank 11Priority
Derivatives track
01Overview
What this certification is really testing.
Ideal for
- Professionals working across equity, currency, and commodity derivatives
- Those wanting a single certification covering multiple derivative segments
Career paths
- Multi-Asset Derivatives Trader
- Risk Analyst (Cross-Asset)
- Operations - Derivatives Clearing
Mandatory for
- Approved users dealing across multiple derivative segments
02Syllabus
Study by chapter weightage, not by guesswork.
The highest scoring chapters carry 80% of the paper. Start there, then use the low-weight chapters for polish.
Chapter weightage
High-weightage focus
Equity Derivatives
25%Currency Derivatives
20%Commodity Derivatives
20%Trading and Risk Management
15%03Key concepts
Concepts and formulas to keep handy.
Key concepts to remember
- Covers ALL derivative segments in one exam - equity, currency, commodity, interest rate
- Can substitute for Series I, VIII, and XVI if dealing across multiple segments
- Each derivative type has different lot sizes, settlement mechanisms, and margins
- Commodity derivatives settled via delivery or cash (depends on commodity and exchange)
- Interest rate derivatives are the least common in India - focus more on equity/currency/commodity
- This is the 'Swiss army knife' certification - broad but less deep than segment-specific certs
04Study plan
A clear way to study this module.
Study strategy
- Equity Derivatives (Ch 2, 25%) is the heaviest chapter - prioritize this
- Currency and Commodity chapters carry 20% each - equal focus
- Compare and contrast: equity vs currency vs commodity derivative features
- Trading and Risk Management (Ch 6, 15%) - cross-asset risk concepts
- If you already know Series VIII content, this exam becomes significantly easier
Exam-day tips
- Standard 100 MCQs in 120 minutes format
- Questions compare derivative types - know key differences across segments
- 0.25 negative marking - be careful with segment-specific regulatory questions
- Equity derivatives section is the most detailed - get those questions right first
05Common mistakes
The pass mark is simple. The paper is not.
Scoring warning
Because this paper has negative marking, precision matters more than speed. Attempt the sure questions first, then return to calculations and close-call options.
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