BSE to launch Sensex futures on US bourse today

[Ravi Chandran.K]

MUMBAI: The Bombay Stock Exchange has said its benchmark index Sensex-
based futures will start trading on the US Futures Exchange from on
Friday.

The launch of the Sensex-based futures would enable overseas investors
to get an exposure to the domestic market, a BSE statement said.

Trading on these futures on the USFE, Chicago would be available for
23 hours a day to capture different time zones. The dollar-denominated
cash settled contract would give arbitrage opportunities to the
investors.

"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," said BSE managing director and CEO Rajnikant
Patel.

The contract would have a notional value of $40,000 and a tick value
of $10. The clearing and settlement would take place through The
Clearing Corporation, Chicago.

Ravichandran K.
www.kences1.blogspot.com