The examination seeks to create a common minimum knowledge benchmark for associated persons functioning as approved users and sales personnel of the trading members in the commodity derivatives segment of a recognized stock exchange.


The examination aims to enable a better understanding of various derivatives products available in commodity derivatives markets, regulations and risks associated with the products and the exchange mechanisms of trading, clearing and settlement.


Examination Objectives:

On successful completion of the examination the candidate should:

  • Know the basics of the Indian commodity derivatives markets.
  • Understand various trading strategies that can be built using commodity derivatives.
  • Understand the clearing, settlement and risk management as well as the operational mechanism related to commodity derivatives markets
  • Know the regulatory environment in which the commodity derivatives markets operate in India.


Assessment Structure:

The NISM-Series-XVI: Commodity Derivatives Certification Examination will be of 100 marks consisting of 100 questions of 1 mark each, and should be completed in 2 hours. There will be negative marking of 25% of the marks assigned to each question. The passing score for the examination is 60%.


Test Details:

Name of Module: NISM-Series-XVI: Commodity Derivatives Certification Examination

Fees (Rs.)

Test Duration (in minutes)

No. of Questions

Maximum Marks

Pass Marks* (%)

Certificate Validity (in years)#







* Negative marking – 25% of the marks assigned to the question.
+ Payment Gateway Charges extra.

# Passing Certificate will be issued only to those candidates who have furnished/updated their Income Tax Permanent Account Number (PAN) in their registration details.


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