BSE to launch SENSEX based futures on USFE

Mumbai, Apr 3 (UNI) Bombay Stock Exchange (BSE), the oldest exchange in Asia, today announced that it will launch trading of SENSEX based Futures on the U.S. Futures Exchange (USFE) in Chicago tomorrow.

With a view to ensure liquidity, some of the most eminent names in the world of international finance have agreed to serve as market makers for the contract, the exchange said in a release here.

Commenting on the development, BSE CEO and MD Rajnikant Patel, expressed confidence that the exclusive arrangement with USFE would be successful and would be a milestone in the history of Indian Capital Market, ''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''. he added.

The contract would have a notional value of USD 40,000 and a tick value of USD 10. The clearing and settlement would take place through The Clearing Corporation, Chicago, which is a safe, reliable independent clearing house with a 75 year history of risk management.

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