The Certificate in Derivatives is Equalifi’s exam-based qualification for professionals who use, advise on, structure or manage the risk of derivatives. It recognises a sound command of futures, options, swaps and structured products across equity, interest rate, currency, commodity and credit markets, and the judgement to use them responsibly.
Derivatives are among the most powerful instruments in finance, used to hedge risk, discover prices, arbitrage mispricing and build investment products. Used without understanding, they are also among the most dangerous. The Certificate builds a rigorous understanding of how derivatives are priced, traded, margined, hedged and regulated, so that candidates can apply them with confidence and discipline.
The Certificate covers 16 modules: financial markets and the derivatives ecosystem, introduction to derivatives, underlying markets, futures pricing, trading mechanics and margins, hedging and arbitrage, options fundamentals, option pricing and volatility, the option Greeks, option strategies, interest rate derivatives and swaps, currency and commodity derivatives, credit derivatives, structured products and exotic options, regulation, taxation and investor protection, risk management and behaviour, and applied case studies.
The Certificate is assessed through a single MCQ examination, with knowledge, application and case-based questions.
What you will learn
- Understand how derivatives markets, exchanges and clearing corporations work
- Price forwards, futures, options and swaps
- Use derivatives to manage equity, interest rate, currency, commodity and credit risk
- Read and manage the option Greeks for individual positions and portfolios
- Construct, evaluate and compare option strategies for different market views
- Understand how structured products and exotic options are built
- Apply the regulatory, tax and accounting framework for derivatives in India
- Size positions, control leverage and avoid the behavioural traps that cause losses
Who should take the exam?
Traders and dealers, treasury and ALM professionals, risk managers, portfolio and fund managers, investment advisers and wealth managers, brokers and sub-brokers, bankers, corporate finance and treasury officers in companies with currency or commodity exposure, and graduates preparing for careers in markets. Informed individual investors who want to understand derivatives before using them will also benefit.
Career opportunities
Derivatives trading and dealing · Treasury and ALM · Market and credit risk · Structured products · Portfolio management · Broking and market intermediation · Corporate treasury and hedging · Investment advisory · Commodity trading and hedging
Important
The Certificate in Derivatives is an educational qualification awarded by Equalifi. It does not constitute a regulatory licence or authorisation to provide investment advice, trade on behalf of clients or distribute financial products, and it does not replace any certification mandated by SEBI, RBI, IFSCA or the exchanges.
Derivatives carry a high degree of risk. SEBI’s study of the equity derivatives segment found that 87.7% of individual traders incurred net losses in FY26. The Certificate is designed to build understanding and sound risk management, not to encourage speculation.
Exam details
Equalifi offers the examination through an external, remote-proctored platform. Once registration and payment are confirmed, candidates receive an exam link by email. Candidates may schedule and take the exam at any time within one year of registration, subject to the platform’s requirements.
Candidates need a reliable internet connection and a computer with a working camera. Please read the technical and exam-day instructions before beginning the exam.
| Sr. No. | Name of module | Type of questions | Test duration | No. of questions | Passing Criteria | Negative marking |
|---|---|---|---|---|---|---|
| 1 | Certificate in Derivatives | MCQ | 2 hours | 100 | 60% | 20% per incorrect answer |
Validity
The Certificate in Derivatives does not expire.
Candidate audit
Equalifi audits a percentage of applications at random on a regular basis. Candidates are responsible for providing the requested supporting documentation to verify the education and professional background stated in their registration form. Equalifi does not contact employers or educational institutions to obtain verification documents on a candidate’s behalf.
Candidates selected for audit are notified by email and have 10 business days to respond. They must meet the audit requirements before receiving the certificate.
Failure to comply with the audit, falsification or misrepresentation of information, or any unprofessional conduct will result in denial or cancellation of the registration and/or revocation of the certificate, and all fees will be forfeited. A candidate who does not comply with an audit will also be subject to audit when reapplying in future.
Fee details
Exam fee: INR 2,360
The fee is inclusive of GST and applies to each attempt.
Access Pass benefits
Fee waiver: Equalifi Chartered, Professional and Virtual Pass holders receive a 50% waiver on the exam fee.
Exam preparation: Access Pass holders receive exam preparatory material on the Equalifi portal. Candidates are also encouraged to attend Equalifi’s executive education programmes and masterclasses on derivatives, treasury and risk management. Access Pass holders receive a 10% to 50% fee waiver based on their pass category.
Learn more about the Equalifi Access Pass.