NCFM Capital Market (Dealers) study guide
NCFM Capital Market (Dealers) · Work through your exam, one topic at a time.
The NCFM Capital Market (Dealers) module is one of the certification modules offered through the NCFM programme, which NSE's website describes as the portal for online testing and certification programmes offered by NAL Academy Limited (formerly known as NSE Academy Limited). Candidates register for NCFM through the "Get started for NCFM" process and choose from the published list of self-study NCFM certification modules. The NCFM Capital Market (Dealers) study guide has 5 sections and about 1,630 words.
01Equity Market: Matching, Price Bands and Settlement
The Equity Market domain of the Capital Market (Dealers) module tests the cash segment: how orders reach the exchange matching engine, how prices are banded, and how trades are cleared and settled. Questions are rule-application rather than theory, so exact numbers and sequencing matter.
382 words, about 2 min02Indices: Free-Float Construction and Maintenance
The Indices domain tests how benchmarks such as the Nifty 50 are built, maintained and used. Dealers need this because index derivatives, portfolio benchmarks and passive flows all depend on methodology, and many questions are simple free-float arithmetic.
335 words, about 2 min03Equity Derivatives: Carry, Margins and Settlement Style
Equity Derivatives covers futures and options on indices and single stocks: pricing, margining, exercise and settlement. The exam expects you to know which contract is cash-settled and which is physically settled, and how much margin a position actually blocks.
324 words, about 2 min04Currency Derivatives: Contract Specs and MTM
Currency Derivatives tests the exchange-traded currency segment: USD/INR futures and options plus the cross pairs. The rules are mechanical - contract size, tick, settlement and reference rate - and questions usually ask for a mark-to-market figure or a contract value.
310 words, about 2 min05Fixed Income and Debt: Clean Price, Accrued Interest and Yield
Fixed Income and Debt covers government securities, treasury bills, state development loans and corporate bonds: quoting conventions, the price-yield relationship and settlement. The exam favours accrued-interest arithmetic and yield intuition rather than long derivations.
279 words, about 1 min