IRF: Exchanges clock Rs9,000-crore trading volume in first week
27 Jan 2014 10:26 PM GMT
Interest rate futures (IRFs) seem to have caught the fancy of investors as exchanges recorded turnover of close to Rs 9,000 crore in the first week of trading of the product.
National Stock Exchange (NSE) and MCX-SX launched IRFs last week, while BSE would start trading in the product from 28 January. NSE, which launched trading in IRF on 21 January, clocked a turnover of Rs 5,599 crore with a traded volume of 2,75,561 in the first four days. MCX-SX began IRF trading on 20 January and recorded a turnover of Rs 3,330 crore with a volume of 1,63,942 in the week ended Friday last.
The IRF contract is cash settled and is based on the benchmark 10-year government bond, one of the most liquid debt paper instruments in the country.
National Stock Exchange (NSE) and MCX-SX launched IRFs last week, while BSE would start trading in the product from 28 January. NSE, which launched trading in IRF on 21 January, clocked a turnover of Rs 5,599 crore with a traded volume of 2,75,561 in the first four days. MCX-SX began IRF trading on 20 January and recorded a turnover of Rs 3,330 crore with a volume of 1,63,942 in the week ended Friday last.
The IRF contract is cash settled and is based on the benchmark 10-year government bond, one of the most liquid debt paper instruments in the country.
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