The Securities and
Exchange Board of India (SEBI) has permitted NSE and MCX-SX to launch interest
rate futures. NSE will launch trading in this instrument on January 21, 2014
while MCX-SX will commence trading within this month.
Both the exchanges
will launch the product in their currency derivatives segment.
The instrument will
be cash settled and would be used by banks, brokerage houses, insurance
companies and Primary Dealers to manage interest rate risk.
Mr. Thomas Mathew
T., Vice-Chairman, MCX - SX, said, “Development of the Interest Rate
Derivatives market is an important step in placing the Indian markets on par
with developed economies. We will soon take this segment live.”
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