NISM Series VII (SORM) case studies
NISM Series VII (SORM) · Put your knowledge to work in context.
The NISM-Series-VII: Securities Operations and Risk Management Certification Examination (commonly shortened to NISM Series VII or SORM) is one of the certification examinations offered by the National Institute of Securities Markets (NISM), a public trust established in 2006 by the Securities and Exchange Board of India (SEBI), the regulator of the securities markets in India. NISM lists the examination under the Operations category of its certification examinations, alongside the NISM-Series-VI: Depository Operations Certification Examination, and it also offers a Securities Operations and Risk Management CPE/eCPE programme for continuing professional education. The NISM Series VII (SORM) case studies are 5 cases and about 4,052 words.
1Pay-in Shortfall, Market Cover and Exchange Close-Out
Meridian Broking is a clearing member at a national exchange. On Monday, its client Kanha Traders bought 80,000 shares of a mid-cap scrip at an average price of ₹310 on a delivery basis.
842 words, about 4 min2Intraday Leverage Error, Peak Margin Shortfall and Penalty Recovery
Nirmal Securities clears futures and options for about 2,300 clients. On 12 June, a bulk parameter update loaded an "intraday leverage multiplier" of 4x against 41 client codes and stayed live for a little over 40 minutes before a supervisor reverted it.
767 words, about 4 min3Running Account Payout Request Versus Quarterly Settlement Cycle
Rao holds a trading account with a broker that settles running accounts quarterly, on the first Friday of the month following the quarter. On Tuesday, 9 September, she emails asking for her full credit balance of ₹6.40 lakh to be paid into her bank account by 11 September, because she must fund a property payment.
812 words, about 4 min4Bonus Issue Adjustment in Futures and Options Contracts
On Tuesday, 5 August, Alpha Ltd (cash price ₹1,480) announces a 1:1 bonus, with record date Wednesday, 20 August and ex-date Tuesday, 19 August. Alpha's August stock futures, lot size 400, last traded at ₹1,502; the 1,500-strike August call is the most active option.
836 words, about 4 min5Ransomware Attack on Settlement Day: Reporting, Pay-In and Governance
At 01:40 on Wednesday, Sundaram Broking's primary settlement server is encrypted by ransomware. It hosts the clearing application that maps client positions to the clearing corporation's obligation (OB) files.
795 words, about 4 min