Interest rate Derivatives Certification Examination Overview

An interest rate derivative is a derivative where the underlying asset is the right to pay or receive an amount of money at a given interest rate.
The interest rate derivatives market is the largest derivatives market in the world.

About Interest Rate Derivatives

Online NSE Academy Certified Fixed Income & Interest Rate Futures course helps you to become an informed investor by providing you fundamental information on Fixed Income Securities and the Fixed Income market. This, combined with the knowledge of product and portfolio management theories enables the candidate to research and analyze how various market conditions affect the securities.

What are the course objectives?

This course aims at providing a running start in the high-stakes world of financial investments.The balance created between the theoretical knowledge imparted and the practical application equips the learner to find and analyze fixed income securities, understand the concept of fixed income markets and the economic role of the debt market. It introduces the concept of underlying assets of permissible interest rate derivative contracts in In


Students enrolling for Online NSE Academy Certified Interest Rate Derivatives Futures program will be given a “Certificate of Completion” from NSE Academy. The participants will also be given free access to all webinars for further knowledge enhancement.

Chapter -1: Fixed-income or Debt Securities – Introduction
  1. Financial Markets: Overview
  2.  Debt/ Fixed-income Securities : Introduction& Debt/ Fixed-income Securities : Classification
  3.  Fixed-income Securities vs. Fixed-return Securities Debt Securities vs. Equity Securities
  4.  Relative Size of Debt and Equity Markets: Globally and in India
Chapter – 3 : Return and Risk Measures for Debt Securities
  1. Return Measure: Spot Rate
  2. Coupon, Current Yield, and Yield-To-Maturity, Spot rate, Bond price, and YTM
  3. Risk Measures
Chapter – 5 : Contract Specification for Interest Rate Derivatives
  1. Underlying Assets of Permissible Interest Rate Derivative Contracts in India
  2. Market Lot / Contract Amount
  3. Contract Months, Expiry Dates and Last Trading Day of Exchange Traded Derivatives
  4. Price Quotation and Tick
  5. Daily Settlement Price & Final Settlement Price
  6. Delivery Aspects of Interest Rate Derivatives Contracts
Chapter – 7 : Regulations and compliance
  1. Role of Various Regulators in Bond and Interest Rate Derivatives Market
  2. Restrictions and Limits Applicable to Resident and Non-resident Investors
  3. List the Regulatory Reporting Requirements
  4. Accounting Aspects of Interest Rate Derivatives
Chapter –2 : Interest Rate – Introduction
  1. Concept of Interest Rate
  2. Risk-free Interest Rate vs. Risky Rate
  3. Term Structure of Rates: Shapes Term Structure of Rates: Shifts
  4. Conversion of Rate into Amount
  5. Accrued Interest
Chapter – 4 : Interest Rate Derivatives
  1. Derivatives: Definition and Economic Role
  2. Interest Rate Derivatives
  3. Over-The-Counter (OTC) vs. Exchange-Traded Derivatives & Derivatives Market in India
Chapter – 6 : Trading, Clearing, Settlement and Risk Management
  1. Operational Guidelines of Exchanges
  2. Order Types and Execution and Spread Orders
  3. Margining and Mark-To-Market (MTM)
  4. Clearing and Settlement, Procedure for Delivery
Chapter – 8 : Trading and Hedging
  1. Speculative / Trading Strategies
  2. Hedging Strategies
  3. Basis Risk, Yield Curve Spread Risk and Market Liquidity Risk



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