Reference
Resources
Books, courses, papers and data the modules lean on, with a note on what to take from each.
Sites 63
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Rakesh Jhunjhunwala
Primary source for the investing philosophy mapped onto the course in M14 · 14.11.
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Warren E. Buffett
Capital allocation, moats and intrinsic value in the owner's own words.
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SEBI
Primary source for every regulatory fact. Circular listing: https://www.sebi.gov.in/sebiweb/home/HomeAction.do?doListing=yes&sid=1&ssid=7&smid=0 ; orders: https://www.sebi.gov.in/enforcement/orders.html
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SEBI
Contract size of at least ₹15 lakh at launch, one weekly expiry per exchange and an extra 2% ELM on short options on expiry day (all from 20 Nov 2024); upfront premium and no calendar-spread benefit on expiry day (1 Feb 2025); intraday position-limit monitoring (1 Apr 2025). Eight pages; read paras 5–7.
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SEBI
CAS 15:15–15:35 for F&O stocks from 3 Aug 2026; pre-open changes from 7 Sep 2026 (para 6). Read paras 4–6. Fetched 6 Nov 2026.
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SEBI
From 7 Dec 2026: CAS 15:30–15:40, post-close 15:50–16:00, index derivatives to 15:45 (expiring contracts to 15:30), expiry settlement on the last 30 minutes' VWAP (para 4.9); carry-forward of continuous-session orders into CAS from 8 Feb 2027. Seven pages. Fetched 6 Nov 2026.
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National Stock Exchange of India
Pre-open timings from 7 Sep 2026 (Table A), order types allowed, and the equilibrium-price rule (FAQ, Q8). The archive is a zip of the circular and the FAQ. Fetched 6 Nov 2026.
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SEBI
Read in full before automating any live trading. Applicable to all brokers from 1 Apr 2026 under the timeline circular SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/132 of 30 Sep 2025 (https://www.sebi.gov.in/legal/circulars/sep-2025/extension-of-timeline-for-implementation-of-sebi-circular-dated-february-04-2025-on-safer-participation-of-retail-investors-in-algorithmic-trading-_96979.html). The orders-per-second threshold and operational modalities are in the exchanges' implementation standards. Fetched 6 Nov 2026.
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SEBI
Each exchange's expiries on Tuesday or Thursday; one weekly benchmark index option per exchange. NSE implemented Tuesday expiries from 1 Sep 2025 (NSE/FAOP/68589, https://nsearchives.nseindia.com/content/circulars/FAOP68589.pdf). Fetched 6 Nov 2026.
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SEBI
Futures-equivalent OI, the new MWPL (lower of 15% of free float and 65 × ADDV, floor 10%), ban-period trading rule (from 1 Oct 2025), index position limits. Fetched 6 Nov 2026.
- NSE circular NSE/FAOP/70616: Revision in market lot of derivative contracts on indices (3 Oct 2025) verified
National Stock Exchange of India
Nifty 75 → 65, Bank Nifty 35 → 30, Fin Nifty 65 → 60, Midcap Select 140 → 120 for contracts after the 30 Dec 2025 expiry; Next 50 unchanged at 25. Fetched 6 Nov 2026.
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SEBI
Physical settlement mandatory for all stock derivatives, in batches from the Apr, Jul and Oct 2019 expiries. NSE Clearing discontinued the do-not-exercise facility from the Mar 2023 expiry (NCL/CMPT/55330, https://nsearchives.nseindia.com/content/circulars/CMPT55330.pdf). Fetched 6 Nov 2026.
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SEBI (Whole Time Member Ananth Narayan G.)
The primary document for M08 Case B (105 pages): the explainer on cash–F&O interplay, the methodology, the 17 Jan 2024 case (paras 14.7–15.50), extended marking the close (para 16), the post-caution instance of May 2025 (para 17), Table 4 (segment P&L) and Table 44 (unlawful gains). Follow-ups: SEBI PR 40/2025 (14 Jul 2025, escrow) https://www.sebi.gov.in/media-and-notifications/press-releases/jul-2025/update-on-interim-order-compliance-by-jane-street_95237.html and PR 45/2025 (21 Jul 2025) https://www.sebi.gov.in/media-and-notifications/press-releases/jul-2025/update-on-the-jane-street-interim-order_95491.html . Read 6 Nov 2026.
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SEBI
Read each once in full, in the latest consolidated version. The link is SEBI's list of all regulations (Legal → Regulations), which shows the last-amended date of each (checked 6 Nov 2026).
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NSE
Circulars: https://www.nseindia.com/resources/exchange-communication-circulars ; pre-open FAQ: https://www.nseindia.com/static/products-services/equity-market-pre-open ; Nifty derivatives specification: https://www.nseindia.com/static/products-services/equity-derivatives-nifty50 ; margins (SPAN, ELM): https://www.nseindia.com/static/products-services/equity-derivatives-margins ; corporate filings and announcements, bulk and block deals (M06, M06A); strategy indices: https://www.nseindia.com/products-services/indices-strategy (M06A); daily FII/DII provisional data (M11).
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NSE Clearing Ltd
The source for SPAN scenarios, ELM and margin files used in M09A · 9A.12.
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NSE
The India VIX white paper is linked from this page; compare with the Cboe VIX methodology of M09 · 9.6. Older page cited in M09: https://nseindia.com/products/content/equities/indices/india_vix.htm
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NSE Indices Ltd
Index methodology documents for M01 · 1.9; rebalancing schedule: https://niftyindices.com/resources/index-rebalancing-schedule
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Multi Commodity Exchange of India
Blocks automated access, so check contract specifications by hand. Historical data: https://www.mcxindia.com/market-data/historical-data
- OI Charts verified
OI Charts
Free pages for looking at current Indian market data while you work through the course: 167 NSE indices including India VIX (https://oicharts.com/indices, one page per index, e.g. /indices/nifty-50); stock pages (https://oicharts.com/stocks/SYMBOL) with price and, for F&O stocks, futures OI by expiry, option OI by strike, put–call ratio by OI, max pain and the straddle price; a stock screener (/screener); ETFs including gold, silver, equity and debt (/etfs); sectors (/sectors); market news (/news). No commodity (MCX) pages, no full option chain with implied volatilities, and no historical download or API: use the exchanges' bhavcopies for data you analyse.
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RBI
Monetary Policy Statement of 7 Oct 2026 and the Monetary Policy Report for M11; MPC schedule for the event calendar of M04A · 4A.11. The MPC resolution of 7 Oct 2026 (repo 5.50%, SDF 5.25%, MSF 5.75%) is at https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=63742 ; the schedule of meetings at https://www.rbi.org.in/Scripts/Annualpolicy.aspx (checked 6 Nov 2026).
- BSE Ltd (Bombay Stock Exchange): notices, circulars, bhavcopies, index data, corporate filings verified
BSE Ltd
The second Indian stock exchange: its own closing auction and closing prices (M01), notices and circulars, equity and derivatives bhavcopies, S&P BSE index data, and corporate announcements (see also bse-corporate-filings). The site blocks automated fetching; open it in a browser.
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National Stock Exchange of India
The full STT schedule as amended by the Finance Act, 2026, in force from 1 Apr 2026: delivery 0.1% each side, intraday 0.025% on sell, futures 0.05% on sell, options 0.15% of premium on sell and 0.15% on exercise. The source for every STT number in the cost models.
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National Stock Exchange of India
Exchange transaction charges from 1 Mar 2026: ₹307 per crore (cash), ₹183 per crore (futures), ₹3,553 per crore of premium (options), each side. Brokerage is not set by the exchange; the course uses a typical discount-broker fee (₹20 or 0.03% per executed order, whichever is lower) and you should set your own.
- Income Tax Department of India verified
Government of India
Primary source for capital-gains rates and set-off rules (M01 · 1.8).
- Stock Market Crash of 1987 verified
Federal Reserve History (essay)
Case source for Black Monday, 19 Oct 1987 (M02 · 2.10.2).
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Federal Reserve History (essay)
Timeline of the 1998 recapitalisation organised by the New York Fed (M03 · 3.10.1; M08 LTCM case).
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US Securities and Exchange Commission
Primary source for M03 · 3.10.2 (concentration hidden in total-return swaps).
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SEBI; NSE circular CMTR71394
Block-deal windows and price bands (M04A · 4A.5; M06A case sources). Link is the NSE circular PDF cited in M06A; M04A cites the SEBI circular of 8 Oct 2025 via the SCC summary https://www.scconline.com/blog/post/2025/10/09/sebi-notifies-revised-block-deal-framework-compliance-update-scc-times/
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Board of Governors of the Federal Reserve System
Eight scheduled meetings a year; an entry in the event calendar of M04A · 4A.11.
- BLS release calendar verified
US Bureau of Labor Statistics
Dates of US CPI and payrolls releases for the event calendar of M04A · 4A.11.
- BSE corporate filings verified
BSE Ltd
Corporate announcements (results, shareholding patterns, board outcomes, concall transcripts), with the same filings on NSE (M06 data and tools; M06A Indian sources). The page blocks automated fetching; open it in a browser.
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SEBI
Primary text for M06 · 6.12.2 (Satyam, January 2009): paragraph 1 quotes the letter as e-mailed to SEBI; the order also records the aborted Maytas acquisition. Press release: https://www.sebi.gov.in/sebi_data/docfiles/28591_t.html . The SEC action against the PwC India affiliates: https://www.sec.gov/news/press/2011/2011-82.htm
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Business Standard (PTI)
M06 · 6.12.3 (NPA divergence, 2016–2020). Primary documents: RBI press releases 2019-2020/2022 (moratorium, https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=49476), 2019-2020/2025 (supersession, prid=49477), 2019-2020/2028 (draft reconstruction scheme, prid=49479) and 2019-2020/2091 (scheme notified 13 Mar 2020, prid=49543); RBI divergence-disclosure circular DBR.BP.BC.No.63/21.04.018/2016-17 of 18 Apr 2017 (https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=10932). Press reports also cited: RBI rebuke over the 'nil divergence' disclosure, https://www.business-standard.com/amp/article/pti-stories/rbi-threatens-action-against-yes-bank-for-disclosing-nil-divergence-report-119021501386_1.html ; full text of RBI's moratorium statement, https://www.business-standard.com/amp/article/finance/here-s-the-full-text-of-rbi-s-statement-on-yes-bank-moratorium-120030501710_1.html
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The Week (22 Jun 2023)
M06 · 6.12.4, private-company postscript (auditor resignations; press sources, since a private company files no exchange disclosures). Also cited: BDO exits as auditor after Deloitte, Business Today, https://businesstoday.in/latest/corporate/story/byjus-crisis-bdo-exits-as-auditor-after-deloitte-citing-financial-concerns-444865-2024-09-07
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Titan Company Ltd (filed with BSE and NSE)
The primary record of the Jhunjhunwala family's Titan stake, for M06 · 6.12.1. The June 2002 figure (1.57%) is as reported by Fortune India, 'Rakesh Jhunjhunwala's Titanic journey' (secondary; that quarter predates the exchanges' online archive). Also cited for his mistakes: DHFL stake increase, Business Standard, https://www.business-standard.com/amp/article/markets/jhunjhunwala-increases-stake-in-dhfl-is-cautious-on-auto-holding-119042400801_1.html
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SEBI
Primary document for the Aptech settlement discussed in M06 · 6.12.1 (order SO/EFD-2/SD/384/JULY/2021; UPSI period 14 Mar–7 Sep 2016; the table lists each applicant's settlement amount, disgorgement and interest).
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Reserve Bank of India
Primary source for M06 · 6.12.4 (DHFL): supersession under s.45-IE(1) of the RBI Act 'owing to governance concerns and defaults', administrator R. Subramaniakumar, and the planned IBC resolution under the 2019 rules for financial service providers. Advisory committee: press release 2019-2020/1246, https://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=48698 . The NCLT orders (admission 3 Dec 2019; Piramal plan approved 7 Jun 2021) are on the NCLT site.
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ITC Ltd, NSE filing (28 Jan 2025)
Primary source for the cost-of-acquisition split in M06A · 6A.13.2 (ITC Hotels, January 2025).
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HDFC Ltd (exchange filing, NSE)
Primary source for the merger-arbitrage case of M06A · 6A.13.3 (HDFC Ltd and HDFC Bank, 2022–23): the announcement and share-exchange ratio. HDFC Bank's same-day filing: https://archives.nseindia.com/corporate/HDFCBANK_04042022085546_SEIntimation04042022.pdf ; HDFC Bank's intimation that the scheme became effective on 1 Jul 2023: https://archives.nseindia.com/corporate/HDFCBANK_01072023073519_SEEffectiveDateJuly12023.pdf (filing URLs from the NSE archive, located 6 Nov 2026).
- Adani Enterprises: intimation of the board's decision of 1 Feb 2023 to withdraw the FPO and the RHP verified
Adani Enterprises Ltd (exchange filing, BSE, 2 Feb 2023)
Primary source for the FPO withdrawal in the short-report event study of M06A · 6A.13.4. Also: the company's press release of 1 Feb 2023, https://www.adanienterprises.com/newsroom/media-releases/Adani-Enterprises-Limited-Stands-by-its-Investors ; the Supreme Court judgment of 3 Jan 2024 (Vishal Tiwari v. Union of India) on sci.gov.in; SEBI's orders of 18 Sep 2025 on sebi.gov.in → Enforcement → Orders. The group-wide market-value loss (more than US$100 bn by 2 Feb 2023) is CNBC's computation (secondary), https://www.cnbc.com/2023/02/02/adani-losses-top-100-billion-in-wake-of-hindenburg-research-report.html
- SEBI (Mutual Funds) Regulations, 2026 (Gazette notification of 14 Jan 2026, in force 1 Apr 2026) verified
SEBI
Read Chapters VI (winding up), VIII (NAV and timelines), IX (Specialized Investment Funds) and XI (Regulations 66-67: base expense ratio, brokerage, total expense ratio). M06B · 6B.1-6B.3 quote it. The text was read from a hosted copy of the Gazette PDF (https://abcaus.in/wp-content/uploads/2026/01/sebi-Mutual-Funds-Regulations-2026.pdf) on 6 Nov 2026.
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SEBI
The operational rules behind M06B: cut-off times and applicable NAV, swing pricing, passive funds (tracking error and difference, ETF dealing), segregated portfolios, categorisation, riskometer. A March 2026 consolidation is reported; check the date of the latest version.
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Penn State, EBF 301
Case notes for M07 · 7.8.1 (Metallgesellschaft, 1993).
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Brealey, Myers and Allen; McGraw-Hill Education
Companion case write-up for M07 · 7.8.1.
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Business Standard (PTI), 22 Apr 2020
The Indian leg of WTI below zero (M07 · 7.8.3; full treatment in M10).
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Cboe Global Markets
Cboe's opening in 1973, the same year as Black–Scholes (M08 Case A).
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Legal500
Secondary explainer of the interim order of 3 Jul 2025 (M08 Case B). Read the primary order first (case-jane-street-sebi-order-2025).
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Business Standard, 4 Jul 2025
News report of the interim order (M08 Case B).
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Moneylife
Summary of SEBI's findings: buying the index in the morning and selling into the close on expiry days (M08 Case B).
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Business Standard, 3 Sep 2025
The appeal to the Securities Appellate Tribunal (M08 Case B).
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Business Today, 25 Feb 2026
Status of the SAT proceedings (M08 Case B; M09 Jane Street case).
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NewsBytes, Oct 2026
Latest status of the SAT proceedings cited in M08 Case B.
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Oxford Business Law Blog, July 2025
Analysis of the interim order for the expiry-day gamma angle of M09 · 9.12.2. Title paraphrased from the URL; the notes give only the link.
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Legal500
Interim-order analysis for M09 · 9.12.2. Title paraphrased from the URL; the notes give only the link.
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Credit Suisse AG
Source for M09 · 9.12.1 (Volmageddon, February 2018): the acceleration event (intraday indicative value on 5 Feb 2018 at or below 20% of the prior close), accelerated valuation date 15 Feb, acceleration date 21 Feb 2018. The release was also filed with the SEC as a Form 6-K exhibit (CIK 0001053092, February 2018). Press sources also cited: the VIX move, https://www.prweb.com/releases/vix_spike_and_xiv_termination_invest_in_vol_the_volatility_advisor_explains/prweb15187114.htm ; XIV at $4.22, https://www.benzinga.com/amp/content/11138352
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Business Standard (March 2020)
Source for M09 · 9.12.4 (India VIX and the failure of short volatility). Title paraphrased from the URL. Also cited: Tribune India, 'Covid triggers worst market crash in Dalal Street's history', https://www.tribuneindia.com/news/business/covid-triggers-worst-market-crash-in-dalal-streets-history-60240
- OPEC press releases verified
Organization of the Petroleum Exporting Countries
Production decisions for the crude oil section, M10 · 10.8.
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International Energy Agency (2026)
The 2026 emergency stock release, for M10 · 10.8. Title taken from the URL.
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Central Board of Indirect Taxes and Customs
Tariff values for gold and silver, used in the import-parity pricing of M10 · 10.5.
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K. Sheppard (arch); statsmodels developers; hmmlearn developers
arch (GARCH family; the oracle in the exercise tests; https://arch.readthedocs.io/), statsmodels (MarkovRegression, ARIMA, multipletests; https://www.statsmodels.org/), hmmlearn (https://github.com/hmmlearn/hmmlearn; its README states limited maintenance).
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SEBI
The framework permitting institutional short selling and SLB, the constraint on the short leg of Indian pairs (M13A · 13A.11).
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SEBI
The current short-selling framework (M13A · 13A.11): naked short selling prohibited, institutions declare short sales upfront and may not short intraday, retail may declare by end of day, F&O stocks eligible. Read with Annexure 3 of Chapter 1 of the stock-exchange master circular of 16 Oct 2023. The link is SEBI's circular listing; search the circular number there (direct PDF not fetched).