Bombay Stock Exchange (BSE) will launch the trading of Sensex-based futures on the US Futures Exchange (USFE) in Chicago tomorrow (April 4).It was orginally to start on Feb22nd of 2008 and now atleast its going to start.
Highlights of the proposal:
* Facility for round-the-clock trading to capture different time zones
* Dollar-denominated cash-settled contract.
* Monthly settlement consistent with corresponding value of Sensex Futures contract
* Trading available 23 hours a day
* Arbitrage opportunity
* Enables exposure to Indian markets by overseas investors
As per the report from Bombay stock exchange ,
Exclusive Agreement With BSE Provides For U.S. Dollar-Denominated Futures Contract To Begin Trading February 22, 2008
U.S. Futures Exchange (USFE) announced today that it will exclusively license Bombay Stock Exchange’s (BSE) benchmark SENSEX Index for U.S. dollar-denominated futures trading beginning February 22, 2008. USFE’s SENSEX contract will allow eligible U.S. investors to directly participate in India’s equity markets for the first time, without requiring American Depository Receipt (ADR) authorization.
NSE has decided to add 14 additional stocks to futures & options (F&O) segment with effect from 6 September 2007.
The 14 new stocks include
3i Infotech,
Aptech,
Bhushan Steel,
Biocon,
CMC,
Havells India,
Lakshmi Machine Works,
NIIT Technologies,
Nucleus Software,
Sasken Communications,
Tech Mahindra,
Tulip IT Services,
Welspun Gujarat Stahl Rhoren
and Yes Bank.
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