![]() ![]() Singal said it was important for exchanges with regional ambitions to provide a diversified suite of products. It has also conducted a mock trading session in DJIA and S&P 500. Since the US would not be open, you cannot do arbitrage."Īs a market-building measure, NSE has decided not to levy a transaction charge on these till February 29, 2012. Though the Dow futures’ trades round the clock, after the regular market hours, it has only passive participants. But since US markets will be closed when we trade, we need to see how many traders will be interested. Sandeep Singal, co-head of institutional equities, Emkay Global, said, “It is a good step. While the value of Dow and S&P would be derived from US contracts listed on the Chicago Mercantile Exchange (CME), both indices are to be denominated in the rupee. Trades will take place during Indian trading hours. The new contracts will include futures on both the Dow and S&P, and options on the S&P 500. At present, trading in derivatives on the global indices is restricted to Indian residents only. The absence of foreign institutional players and non-resident Indians, who could have given fillip to the trade in these indices, is being cited as another reason for a slow opening. ![]() Given the uncertainty in the US, the two indices which are being launched at the National Stock Exchange (NSE) tomorrow, are likely to get a cautious welcome from Indian market players. Trading in the two US benchmark indices, the S&P 500 and Dow Jones Industrial Average (DJIA) futures, may be low in the initial stages, said market experts. NSE launches both US benchmark indices today.
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