No transaction levy on 2 NSE derivative contracts till Aug-end
Quotes

No transaction levy on 2 NSE derivative contracts till Aug-end

Last Updated: Monday, August 06, 2012, 21:43
 
 Comment 0
 
No transaction levy on 2 NSE derivative contracts till Aug-end
Mumbai: The National Stock Exchange Monday said it will not levy any transaction charges on its derivative contracts on benchmark US indices S&P 500 and Dow Jones Industrial Average (DJIA) till the month end.

NSE had launched these two derivatives contracts in August last year in a bid to help Indian investors to bet on the world's most influential stock markets.

At the time of the launch, NSE had decided to waive off transaction charges on the trades done in these contracts.

In a circular issued today, NSE said "waiver on transaction charges on the trades done in above mentioned futures and options contracts has been extended till August 31, 2012."

Normal transaction charges, as applicable for other futures and options contracts, shall be levied on these global indices contracts after August 31, 2012.

"Derivative contracts on these global indices will provide Indian investors easy access to US markets in Indian market hours, without taking any currency risk," NSE Managing Director and Chief Executive Ravi Narain had said at the time of the launch last year.

The rupee denominated derivative contracts on S&P and the DJIA introduced by NSE would provide Indian investors with easier access to gain exposure to the US equity market.

All the members of the equity derivatives segment of NSE shall be able to trade this product for themselves and their clients, through their existing trading, clearing and risk management infrastructure.

Sebi had released the regulatory framework for such products in January 2011.

PTI


First Published: Monday, August 06, 2012, 21:43


Comments


comments powered by Disqus
Forbes Best Places for Biz 2014
Forbes Best Places for Biz 2014
Hyundai Elite i20
Hyundai Elite i20
John Kery with Indian Biz Honchos
John Kery with Indian Biz Honchos
Honda Mobilio MPV
Honda Mobilio MPV
Tata Zest first drive review: In pics
Tata Zest first drive review: In pics

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved