Dubai Gold and Commodities Exchange launches Sensex Futures
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Dubai Gold and Commodities Exchange launches Sensex Futures

Last Updated: Wednesday, July 03, 2013, 23:01
 
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Dubai Gold and Commodities Exchange launches Sensex Futures
Mumbai: Dubai Gold and Commodities Exchange on Wednesday announced the launch of Sensex Futures, the region's first-ever Indian equity index futures contract.

The new contract, which will go live on July 5, was cleared by the Dubai Commodities Clearing Corporation (DCCC), BSE said in a statement here.

BSE tied up with DGCX for Sensex derivatives in October 2011.

DGCX Sensex Futures is a futures contract based on the S&P BSE Sensex, the blue-chip stock index of country's leading bourse - the Bombay Stock Exchange (BSE).

Recently co-branded with S&P Dow Jones Indices, the Sensex is considered the most popular gauge of the Indian equity market and has a high social recall among investors. The Sensex index tracks the performance of 30 largest and most heavily traded stocks on the BSE, the release said.

"Derivatives on India stock indices are very popular in several overseas markets including Singapore etc. Trading in Indian indices has grown substantially over last decade in the overseas markets," BSE Managing Director Ashishkumar Chauhan said.

Given that a large number of NRIs reside in the Middle-East region, we are confident about the Sensex futures contract's potential to generate high interest and trade volumes in line with interest in other jurisdictions, he said.

"While the retail segment is a key target market, we are also anticipating strong interest from a wide range of regional and international investors, traders and institutional investors. DGCX participants have already shown great interest in trading Sensex futures," said DGCX CEO Gary Anderson.

PTI


First Published: Wednesday, July 03, 2013, 23:01


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