BSE to launch Sensex futures trading in US
The contract will have a notional value of US$40,000 and a tick value of US$10. The clearing and settlement will take place through The Clearing Corporation, Chicago, which is a safe, reliable independent clearing house with a 75 year history of risk management.
Bombay Stock Exchange (BSE), the oldest exchange in Asia, has announced that it would be launching trading of Sensex based Futures on the U.S. Futures Exchange (USFE) in Chicago on April 4, 2008.
With a view to ensure liquidity, some of the most eminent names in the world of international finance have agreed to serve as market makers for the contract.
Commenting on the development, Rajnikant Patel, MD & CEO, BSE said, “It is indeed a proud moment for us, given the fact that we have been able to put the Indian markets on the global map by providing a platform for investors across geographies to invest in the promising India growth story. We are confident of the fact that this exclusive arrangement with USFE will be a success and will be a milestone in the history of the Indian Capital Market.”
The contract will have a notional value of US$40,000 and a tick value of US$10. The clearing and settlement will take place through The Clearing Corporation, Chicago, which is a safe, reliable independent clearing house with a 75 year history of risk management
