NISM-Moody’s Certificate in Derivative Market Strategies (CDMS) is an internationally recognized certification that validates the knowledge and skills required to enter into and progress in a variety of roles that employ derivatives. With the NISM-Moody’s CDMS in hand, individuals will be recognized for their specialized knowledge and qualifications in the advanced concepts of both exchange-traded and over-the-counter (OTC) derivative investments and their applications.
PrepCafe has gathered and collated detailed information on the newly launched Derivatives Certification by NISM and Moody’s. Here’s all you wanted to know about the Certificate in Derivatives Market Strategies (CDMS)
What is NISM Moody’s Certificate in Derivatives Market Strategies (CDMS)?
This certification is an advanced level certificate in Derivatives. In contrast to the regular NISM Certifications which are designed for Indian Securities Markets, the CDMS is a truly global certification focused on international products that will give you an international recognition in the Derivatives Market.
The CDMS Certification is jointly offered by NISM and Moody’s Analytics. While NISM is a leading provider of high end professional education, certifications, training and research in Indian Financial Markets, Moody’s Analytics brings international flavor and more than 40 years of experience in capital markets. The training and certification division of Moody’s Analytics offer comprehensive training programs, industry recognized certificates and designations for numerous financial institutions across the globe.
Am I eligible for the NISM Moody’s Certificate in Derivatives Market Strategies (CDMS)?
For becoming eligible to undertake NISM Moody’s CDMS Certification, you should have passed either of the following NISM Certification Examinations:
- NISM Series I : Currency Derivatives Certification Examination, or
- NISM Series VIII: Equity Derivatives Certification Examination, or
- NISM Series XIII: Common Derivatives Certification Examination
After passing any of the above NISM Certification Examinations, you will be eligible to undertake the NISM Moody’s CDMS Certification.
As of now, all you need is that you should have passed any of the above NISM Certification Examinations. Neither NISM nor Moody’s require you to hold a valid certificate for any of the above NISM Certification Examinations. You will be eligible to undertake the NISM Moody’s CDMS Certification even if you have passed any of the above NISM Certification Examinations in the past.
Both NISM-Series I Currency Derivatives Certification Examination or NISM Series VIII: Equity Derivatives Certification Examination are 2-hour examinatons consisting of 100 questions, having passing marks of 60 with 25% negative marking and each costs Rs. 1500/- per enrollment. NISM Series XIII : Common Derivatives Certification Examination is a 3-hour exam consisting of 150 questions, having passing marks of 90 with 25% negative marking and costs Rs. 3000/- per enrollment.
What are the benefits of NISM Moody’s CDMS Certificate?
The Certification offers tremendous benefits for professionals working in the derivatives segment of the capital markets.
It helps in building off your foundational knowledge in derivatives to learn advanced techniques for the use of derivatives in minimizing equity, interest rate, currency and commodity risk, structuring financial products like ETFs and trading strategies used by individuals and professional money managers.
The NISM-Moody’s CDMS Certification is an asset for a wide range of securities industry careers. It is an excellent means to gain an edge when applying for or advancing in roles that use derivatives such as:
- Trading desk professionals
- Investment Advisory roles
- Institutional Sales
- Research Analysis
- Risk Management
- Conventional & Alternative Portfolio Management
- Structured Product development
- Treasurer roles
- The knowledge gained through the CDMS Certification helps you to enter into and progress in a variety of roles that utilize derivatives across the industry.
How to apply for the NISM Moody’s CDMS Certification?
Prior to registering for the CDMS Certification, candidates are required to undergo the Advanced Derivatives Market Strategies Course (ADMS) developed by Moody’s Analytics.
Candidates can register for the ADMS Course by completing an online registration form available on https://nism.wufoo.eu/forms/cdmsregistration-form/. On confirmation of eligibility and completion of the application and payment process, login credentials and access details will be sent to the candidates. The candidate can then access the ADMS course.
How do I prepare for the NISM Moody’s CDMS Certification?
Moody’s Analytics has launched the Advanced Derivatives Market Strategies (ADMS) Course for preparing candidates for the CDMS Certification. The content of the Advanced Derivatives Market Strategies course builds on your knowledge from your NISM Certification in Currency Derivatives / Equity Derivatives / Common Derivatives. The course focuses on OTC derivatives and the advanced pricing and risk management, product engineering and trading strategy applications of derivatives.
The Advanced Derivatives Market Strategies (ADMS) Course is delivered via an eLearning course for easily accessible, convenient, self-paced learning followed by an in-person exam. The entire course can be completed in 80 to 100 hours. The course can be accessed only if you are eligible for CDMS certification and that you have paid the course enrollment fees.
After enrolling for the ADMS course and studying the eLearning course materials the candidate will be eligible to register for the NISM Moody’s Certificate in Derivatives Market Strategies (CDMS) Examination.
What is the NISM Moody’s CDMS Exam Structure?
The NISM Moody’s CDMS Certification Examination focuses heavily on OTC Derivatives and Advanced Trading and Hedging Strategies. Following is the exam structure with topic-wise weightages:
|An Overview of Derivatives||3%|
|Advanced Trading Strategies||24%|
|Advanced Hedging Strategies||23%|
|Structuring Products Using Derivatives||8%|
Where can I find the study material for NISM Moody’s CDMS Certification?
As of now, the Advanced Derivatives Market Strategies (ADMS) Course provided in eLearning format by Moody’s Analytics is the only study material available for the CDMS Certification Examination. Access to the ADMS course can be obtained from NISM after confirming eligibility as stated above and payment of course fees.
What is the fee for NISM Moody’s CDMS Certification?
|Fee Details||Fee Amount|
|Course Enrolment Fee (Enrolment period is one year)||Rs 38,000 + Taxes|
= Rs 43,700
|Examination Fee (for rewrites after the 1stattempt).|
The first examination attempt is included in the Course Enrolment fee
|Rs 3,000 + Taxes|
= Rs 3,450
|Course Extension Fee|
Granted during initial course enrolment period.
|Rs 5,500 + Taxes|
= Rs 6,325
What is the exam format for CDMS Certification?
Following is the format for CDMS Examination:
|NISM Moody’s Certificate in Derivatives Market Strategies Exam Format|
|Exam Format||Proctored Computer Based|
|Exam Length||3 Hours|
|Question Format||Multiple Choice|
|Questions Per Exam||100|
|Attempts Allowed Per Course Enrollment||3*|
|Enrolment Period||1 year**|
*Your Course enrolment comes with one examination attempt. Exam rewrites (up to 3 total attempts) are available for an extra fee (see Registration details).
**Course extensions are available to students within their course enrolment period. See Registration details.
Where can I take the NISM Moody’s CDMS Certification Examination?
You can appear for the NISM Moody’s CDMS Certification Examination from any of the NISM Test Centres across India. There are more than 200 NISM Test Centres in India spread across more than 150 cities.
What documents are required for NISM Moody’s CDMS Certification Examination?
Permanent Account Number (PAN) Card is mandatory for appearing for NISM Moody’s CDMS Certification Examination. You will also need your photograph, personal, educational and occupational details to be provided to NISM during registration.
Which course should I take to pass the NISM Moody’s Certificate in Derivatives Market Strategies (CDMS)?
You will need to go take the Advanced Derivatives Market Strategies (ADMS) Course to pass the CDMS Certification.