Options
- A
Depository
- B
Clearing Bank
- C
Authorised Person
-
Exchange
Correct answer
Why this is the answer
After client confirmation, the broker’s system validates and routes the order to the Exchange. The Exchange then assigns a unique order number and time stamp for tracking and confirmation.
Test yourself for real
Take a full NISM Series VII mock test.
Same duration, same weighting, same difficulty distribution as the real exam — with explanations on every question.