n NISM Certifications
VII NISM Series VII
Medium

In the Currency Derivative segment, members with a funds pay-in obligation must have clear funds in their primary clearing account on or before ____ on the settlement day.

Practice question from NISM Series VII Mock Test 3 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    8.00 am

  2. 8.30 am

    Correct answer

  3. C

    9.30 am

  4. D

    10.00 am

Why this is the answer

Settlement of daily mark-to-market positions in the currency derivatives segment is on a T+1 basis, and the final settlement is on T+2. Members must ensure clear funds in their primary clearing account by 8:30 am on the settlement day.

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