Welcome to Chapter 4 of the Audio Course for NISM Series XII.

In this episode, we step onto the trading floor. This chapter demystifies how shares are bought and sold after they are listed, and the complex machinery that ensures your trade is safe.

Key Concepts Covered in this Episode:

Role of Stock Exchanges: Understanding the function of NSE and BSE as the marketplace.

Market Participants:

Brokers: The gatekeepers (you cannot trade directly).

Clearing Corporation (NSCCL/ICCL): The "Guarantor" that ensures every buyer gets shares and every seller gets money.

Depositories (NSDL/CDSL): The "Bank" where your shares are held electronically (Demat).

Trade Lifecycle:Order Matching: How the electronic system matches buyers and sellers

.Clearing & Settlement: The T+1 (now moving to T+0) settlement cycle.Pay-in & Pay-out: When funds and securities actually move.

Corporate Actions: Understanding Dividends, Bonus Issues, and Stock Splits.

Risk Management: Margins, Circuit Breakers, and the Investor Protection Fund.

Exam Note: This is another High Weightage Chapter (approx. 20%).

Crucial Topic: The Clearing & Settlement process is a favorite exam topic. You must understand who takes the "Counterparty Risk" (Answer: The Clearing Corporation).Also, be clear on the difference between a Demat Account (Storage) and a Trading Account (Execution).

Next Episode: Want to invest but don't want to pick stocks yourself? Let's look at the best vehicle for retail investors: 🎧 Next: [A05] Chapter 5: Mutual FundsAbout the Series: Conversational, AI-powered audio lessons to help you crack the NISM Series XII Certification without the stress.

Resources:Official NISM Workbook: https://cert.nism.ac.in/

If you find this helpful, for accessing my exam notes, you can reach out to nemo@deepstratai.com (free of cost).Subscribe to DeepStratAI and hit the bell icon. Let's turn that "Pass" into a "Distinction."#NISMSeriesXII #Chapter4 #StockMarketTrading #SecondaryMarket #NSE #BSE #ClearingAndSettlement #DeepStratAI #AudioLearning