n NISM Certifications
VII NISM Series VII
Medium

For T+2 rolling settlement in equities, custodians/clearing members must confirm institutional trades back to the clearing corporation by ______ the next day.

Practice question from NISM Series VII Mock Test 6 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. 1.00 PM

    Correct answer

  2. B

    2.30 PM

  3. C

    11.00 AM

  4. D

    9.30 AM

Why this is the answer

Trades are reported to the clearing corporation. Members confirm trades by 1 PM T+1, then multilateral netting determines final obligations by 2.30 PM T+1 for T+2 settlement.

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