NISM Essentials / Series XVI

NISM Series XVI

Commodity derivatives, learned the lean way.

₹499₹69929% off

NISM Series XVI covers commodity market structure, futures, options, commodity indices, hedging, trading, clearing, settlement, risk management, accounting, taxation and regulations. Essentials trims it to chapter-wise playbooks, practice questions and mocks, so you clear the exam without the fluff.

300+ questions

Chapter-wise practice for futures, options, hedging, trading and regulation.

5 mocks

Three to clear and two bonus, mirroring the real exam rhythm.

10 chapters mapped

The full Series XVI syllabus organised by chapter and weightage.

Self-paced

Built for busy schedules, study whenever it fits.

Why NISM Essentials

Lean prep that clears the exam

Built for busy schedules, focused on the exam, and heavy on practice.

300+ questions

Over 300 chapter-wise practice questions that reinforce every concept as you learn it, not just at the end.

5 mocks

Five full-length mocks, three to clear and two bonus, so the actual exam feels like one more attempt.

Focused prep

Aligned to the NISM Series XVI syllabus and exam pattern. No detours, just what clears the exam.

Time-smart

Trimmed to exactly what you need, so you spend less time studying and more time moving forward.

The syllabus

Every chapter, mapped to the exam

Pick a chapter to see the concepts it covers and what you will be able to do by the end.

01 Introduction to Commodity Markets 10%
What it covers
History and evolution of commodity trading
Spot and derivatives trading in commodities
Major commodities traded on Indian derivatives exchanges
Participants in commodity derivatives markets
Commodity market ecosystem and factors impacting commodity prices
Commodity options and index futures overview
By the end

Explain how commodity markets evolved, who participates in them, and how derivatives support price discovery, hedging and trading.

What it covers
What an index is and how commodity indices work
Index construction and constituents
Trading in commodity index futures
Uses of index futures for exposure and hedging
Trading in index options
By the end

Understand commodity indices, how they are constructed, and how index futures and options are used in commodity markets.

What it covers
Futures contracts and the forwards vs futures distinction
Cost-of-carry, fair value and convergence of spot and futures prices
Convenience yield and commodity forwards
Pay-off profile for futures contracts
Tick size and its impact
Spot price polling and final settlement price
By the end

Read commodity futures contracts, understand pricing logic, and interpret futures payoffs, tick sizes and settlement mechanics.

What it covers
Introduction to options and key option terminology
Pay-off profiles of call and put option contracts
Determinants of option premium
Options on commodity futures
Options on goods
By the end

Understand commodity options, option payoffs, premium drivers and the difference between options on futures and options on goods.

What it covers
Hedging and price risk management strategies
Long hedge and short hedge strategies using futures
Speculation, arbitrage and spread trading
Basis and basis risk
Option trading strategies
Uses of index futures and hedging strategy disclosure norms
By the end

Apply commodity derivatives for hedging, speculation, arbitrage, spread trading and structured option strategies.

What it covers
Exchange membership for commodity derivatives segment
Trading systems used by exchanges
Commodity selection criteria and contract specifications
Order types and order conditions
Tracking futures and options prices
Trading costs, participant categories and exchange disclosures
By the end

Understand how commodity derivatives are traded on exchanges, from contract specifications and order types to costs and disclosures.

What it covers
Role of the clearing corporation
Clearing, settlement and the delivery process
Entities involved in clearing and settlement
Premium/discount and default penalties
Physical delivery rules
Risk management, position limits and margining mechanisms
Cyber security and resilience framework basics
By the end

Trace a commodity derivatives trade through clearing, settlement, delivery and risk-management controls.

What it covers
Regulatory structure of the commodities market
Securities Contracts (Regulation) Act, 1956
Securities and Exchange Board of India Act, 1992
Other regulatory norms supporting commodity derivatives
By the end

Identify the regulatory framework governing commodity derivatives markets in India and the key laws behind it.

What it covers
Important accounting aspects for commodity derivatives trading
ICAI guidance note on derivative transaction accounting
Accounting of options contracts
Important tax aspects related to commodity derivatives
By the end

Understand the accounting and tax treatment basics relevant to commodity derivatives transactions.

What it covers
SEBI code of conduct for brokers
Risk disclosure to clients and KYC requirements
Investor grievance redressal mechanism
Rights and obligations of members and clients
Additional do’s and don’ts for commodity derivatives clients and investors
By the end

Recognise broker conduct requirements, investor protection measures, KYC expectations and client rights in commodity derivatives.

The study toolkit

Four ways you learn it

Every chapter is covered four ways, so commodity derivatives concepts stay exam-ready.

01

Playbooks

Chapter-wise visual playbooks for commodity derivatives, with diagrams, glossary cues and worked examples.

02

Sprint notes

Fast sprint recaps with tables and process maps to lock everything in before exam day.

03

Practice questions

Over 300 chapter-wise practice questions that reinforce securities, RTA and regulatory concepts as you go.

04

Mock papers

Five full-length mock papers, three to clear and two bonus, that mirror the Series II-A exam.

Lean, focused prep, built to get you through NISM Series XVI and into commodity derivatives markets.

Enroll in course
Student voices

Proof, not promises

Commodity derivatives finally felt structured. The course connected spot markets, futures, options and hedging without making it overwhelming.

KK Krishna KaulCommodity markets learner

The mocks made the exam pattern familiar. Futures pricing, option premiums and settlement questions stopped feeling random.

RM Riya MenonTrading desk trainee

Hedging, basis and spread trading clicked for me because the examples were direct and practice-heavy.

AV Arjun VermaRisk management learner

Clearing, settlement and delivery looked complicated in the workbook. The playbooks turned them into a simple workflow.

NP Neha PatelCommodity operations

The futures and options chapters were the biggest help. I could revise payoffs, fair value and premium drivers quickly.

DJ Danish JainDerivatives learner

The legal, regulatory and investor protection parts became much easier to remember with the structured notes.

SI Sara IqbalCompliance trainee

Concise notes, chapter-wise questions and mocks. It respected my time and still covered the full Series XVI syllabus properly.

RD Rohan DesaiCommodity markets