n NISM Certifications
VII NISM Series VII
Medium

Once the clearing corporation informs the members of its obligations, the brokers must make available the funds/securities on the _____ day.

Practice question from NISM Series VII Mock Test 4 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Trade Day

  2. B

    Next Day

  3. Pay-In Day

    Correct answer

  4. D

    Pay-Out Day

Why this is the answer

Brokers must make funds/securities available to the clearing corporation before Pay-In Day to ensure smooth settlement of trades executed on the Exchange.

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