About Debt Market

Debt Market module explains in simple terms the basic concepts of different types of debt instruments (G-secs, T-bills, CPs, Bonds and CDs) and provides useful insights into the Indian debt market, its various components, the trading mechanism of debt instruments in stock exchanges, bond valuation and so on.

Why should one enroll in this course?
  • To understand the fundamental features of debt instruments.
  • To understand the trading of the debt instruments on the NSE-WDM Segment.
  • To know the regulatory and procedural aspects related to debt market.
  • To learn the concepts of bond valuation, yield curve, bootstrapping and duration.
Who will benefit from this course?
  • Students who are interested in this subject
  • Investors & Traders Lobby
  • Financial Planners & Advisors
  • House-wife's
  • Analysts
  • Equity Research professionals
  • Bankers & its Employee's
  • Teachers & Professionals
  • Employees of Stock Broking Company
Course Details

Duration: 30 hours (15 days)

Fees: Rs. 15000/-

Refund of fees: Rs.5000/- if examination cleared in first attempt.

Second attempt for examination additional: Rs. 2100/-

Contents of this course

Day 1 – Debt Instruments Fundamental Features
  • Instrumental Features
  • Modifying the Coupon of Bond
  • Modifying the Term to Maturity of Bond
  • Modifying the Principal Repayment of a Bond
  • Asset Backed Securities
Day 2 – Indian Debt Market Profile
  • Market Segments
  • Participants in Debt Market
  • Secondary Markets for Debt Instruments
Day 3 – Central Government Securities Bonds
  • Introduction
  • G-SECS, Trends in Volumes, Tenor and Yields
  • Primary Issuance Process
  • Participants in Government Bond Market
  • Constituent SGL Accounts
  • Primary Dealers
    1. Eligibility
    2. Bidding Commitment
    3. Underwriting
    4. Other Obligations
    5. Facilities for Primary Dealers
    6. Reporting System
  • Satellite Dealers
  • Secondary Markets For Government Bonds
  • Settlement of Trades in G-SECS
Day 4 – Central Government Securities T-Bills
  • Issuance Process
  • Cut off Yields
  • Investors in T-Bills
  • Secondary Market Activity in T-Bills
Day 5 – State Government Bonds
  • Gross Fiscal Deficit of State Governments and its Financing
  • Volumes and Coupon Rates
  • Ownership Pattern of State Government Bonds
Day 6 – Call Money Markets
  • Volumes in Call Market
  • Participants in the Call Market
  • Call Rates
Day 7 – Corporate Debt Bonds
  • Market Segments
  • SEBI (Issue and Listing of Debt Securities) Regulations, 2008
  • Listing Criteria on NSE – WDM
  • Secondary Market for Corporate Debt Securities
  • Credit Rating
  • Rating Symbols
Day 8 – Commercial Paper  & Certificate Of Deposits
  • Guidelines for CP Issue
  • Rating Notches for CP
  • Growth in the CP Market
  • Stamp Duty
  • Certificates of Deposit
Day 9 – Repos
  • Introduction
  • Repo Rate
  • Calculating Settlement Amounts in REPO Transactions
  • Advantages of Repos
  • Repo Market in India
  • Secondary Market Transactions in Repos
  • Repo Accounting
Day 10 – Bond Market Indices And Benchmark
  • I-BEX Sovereign Bond Index
    1. Why a Sovereign Bond Index
    2. Features of Bond Index
    3. Methodology and Assumptions
    4. Definitions
    5. Returns on Individual Bonds
    6. Market Indices
    7. Adjustment Factor
    8. Index Statistics
    9. Calibration Issues
    10. Principal Return Index and Total Return Index
    1. Introduction to Polled Benchmarks
    2. Polling Methodology
    3. Methodology to Determine Average Rates
Day 11 – Trading Mechanism In The NSE-WDM
  • Description of the NSE-WDM
  • Order Types and Conditions
  • Market Phases and Starting up
  • Trading Mechanism
  • Order Entry
  • Oder Validation
  • Order Matching
  • Trade Management
  • Reports
  • Settlement
  • Rates of Brokerage
Day 12 – Regulatory And Procedural Aspects
  • Government Securities Act 2006
  • SEBI (Guidelines for Disclosure and Investor Protection) 2000
  • SEBI (Issue and Listing of Debt Securities) Regulations 2008
  • Market Practices and Procedures
Day 13 – Valuations Of Bonds
  • Bond Valuations First Principles
  • The Path of a BOND
  • Valuing a BOND at any Point on the Time Scale
  • Accrued Interest
  • Yield
  • Weighted Yield
  • YTM of a Portfolio
  • Realised Yield
  • Yield Price Relationship of Bonds
Day 14 – YIELD Curve And Term Structure Of Interest Rates
  • Yield Curve a simple approach
  • Boot Strapping
  • Alternate Methodologies to Estimate the Yield Curve
  • Theories of the term structure of Interest Rates
    1. Introduction and Definition
    2. Calculating Duration of a Coupon Yield Bond
    3. Computing duration of Dates other than Coupon Dates
    4. Modified Duration
    5. Rupee Duration
    6. Portfolio Duration
    7. Limitations of Duration
Day 15 – Fixed Income Derivatives
  • What are Fixed Income Derivatives?
  • Mechanics of Forward Rate Agreements
  • Interest Rate Futures
  • Interest Rate Swaps
  • Guidelines on Exchange Traded Interest Rate Derivatives


1. 1. You are eligible for a refund until the course / specialization launches on the platform however kindly note 25% reduction will be done on the amount paid if applied for cancellation.

2. You are not eligible for a refund after earning a Course Certificate, even if you complete a course in a short period.

3. Rs.5000/- will be refunded as a token of reward if examination is cleared in first attempt.

Yes—to enroll in an individual course, search for the course title in the catalog.

Yes, kindly contact Nathani Finance

15 Days Classroom Training

1 Day for Examination

New Batch admission will start every month.

No specific background is required for this course, anybody can join having interest in this Industry.

Although you can take the courses in any order, however we do recommend that you follow the suggested sequence of courses

Yes, Successful candidates will be rewarded the Certificate by the below mentioned organisations post clearing the exams.

Nathani Institute Pvt. Ltd.

National Stock Exchange Ltd.