NISM Series 7 — Securities Operations & Risk Management
Back-office, risk, settlement, and operations across capital markets — the backbone of a securities career.
Quick info
- Layer
- NISM Certifications
- Track
- NISM Certifications
- Estimated hours
- 60 hrs
- Chapters
- 7
- Exam body
- NISM
- Cost on Trustner
- Free
The full chapter-by-chapter syllabus is published below so you know exactly what you're committing to. Individual lesson pages are being authored progressively over the coming weeks. Bookmark this page or browse all courses.
About this course
NISM Series 7 (SORM) is the back-office and risk-management certification — the operational backbone of every brokerage, depository participant, custodian, and clearing member.
Who this is for
- Back-office, settlement, and operations staff at broking firms.
- Compliance officers and risk managers across SEBI-regulated entities.
- Anyone moving into securities operations from adjacent roles.
What you'll learn
- The full trade lifecycle from order to settlement
- Role of clearing corporations, depositories, and custodians
- Risk management — margins, position limits, default handling
- Investor grievance machinery — SCORES, IGRC, arbitration
Full syllabus — 7 chapters
- 1Chapter 1
Indian securities market — structure
- Primary vs secondary market
- Exchanges, depositories, custodians, clearing corps
- 2Chapter 2
Market participants
- Brokers, sub-brokers, FPIs, AIFs, mutual funds
- Roles, registration, and reporting
- 3Chapter 3
Trade lifecycle
- Order management, matching, confirmation
- Pay-in, pay-out, novation by clearing corp
- 4Chapter 4
Clearing and settlement
- T+1 cycle in India
- Funds and securities settlement, auction
- 5Chapter 5
Risk management
- Margins — VAR, ELM, MTM
- Position limits, default and SGF
- 6Chapter 6
Investor protection
- Investor grievance — SCORES
- Arbitration and ombudsman
- 7Chapter 7
Regulations and compliance
- SEBI Act, Securities Contracts Regulation Act
- Insider trading and PFUTP regulations
About the exam
- Provider
- NISM
- Duration
- 2 hrs
- Questions
- 100
- Pass mark
- 50%
- Exam fee
- ₹1,500
Note: Negative marking 25%.
The exam is administered by NISM. Trustner Academy is not affiliated with NISM; we provide independent preparatory educational material. See our disclaimer.
More from NISM Certifications
NISM Series 5A — Mutual Fund Distributors
The foundational certification for anyone advising on or distributing mutual funds in India. Highest demand, fastest path to a career in financial services.
NISM Series 22 — Mutual Fund Foundation
A simpler entry point to mutual fund advisory — covers the basics for those new to the industry.
NISM Series 8 — Equity Derivatives
Futures, options, and the equity derivatives market — required for anyone working as an approved user or sales person on the equity derivatives segment.
NISM Series 10A — Investment Adviser Level 1
The first half of the SEBI-mandated qualification for registered investment advisers.