NSE launches trading in Weekly Options on Nifty 50 Index
NSE has also received permission from Securities and Exchange Board of India (SEBI) to launch weekly options on NIFTY IT Index.
Pune, February 11, 2019: National Stock Exchange of India Limited (NSE), India’s leading exchange successfully launched weekly options on the NIFTY 50 Index today. The NIFTY 50 index options are already available for three monthly options contracts, three quarterly and eight semi-annual option contracts.
NSE witnessed excellent participation in the weekly options contracts on NIFTY 50 index. Day one recorded a turnover of 10.62 lakh contracts and saw an open interest of 0.95 lakh contracts in weekly options.
Mr. Vikram Limaye, MD & CEO of NSE, said, “NIFTY 50 Index options are based on our flagship index the NIFTY 50 and is one of our key products. The NIFTY 50 Index derivatives are traded by domestic as well as international participants.
With the successful launch of weekly options on NIFTY 50 Index, the market participants will now have an additional hedging tool to manage portfolio risk more effectively”
With the launch of weekly contracts on NIFTY 50 Index, NSE has added one more weekly derivative contract to its product suite. NSE had successfully launched weekly options on the NIFTY Bank Index (equity derivatives) in 2016 and USDINR currency pair (currency derivatives) in 2018. Both the products have been well accepted by markets.
NSE has also received permission from Securities and Exchange Board of India (SEBI) to launch weekly options on NIFTY IT Index. The contract details and the launch date will be announced shortly.
About National Stock Exchange of India Limited (NSE):
The National Stock Exchange of India Ltd. (NSE) is the leading stock exchange in India and the second largest in the world by nos. of trades in equity shares from January to December 2018, according to World Federation of Exchanges (WFE) report. NSE was the first exchange in India to implement electronic or screen-based trading. It began operations in 1994 and is ranked as the largest stock exchange in India in terms of total and average daily turnover for equity shares every year since 1995, based on SEBI data. NSE has a fully-integrated business model comprising exchange listings, trading services, clearing and settlement services, indices, market data feeds, technology solutions and financial education offerings. NSE also oversees compliance by trading and clearing members with the rules and regulations of the exchange. NSE is a pioneer in technology and ensures the reliability and performance of its systems through a culture of innovation and investment in technology. NSE believes that the scale and breadth of its products and services sustained leadership positions across multiple asset classes in India and globally enable it to be highly reactive to market demands and changes and deliver innovation in both trading and non-trading businesses to provide high-quality data and services to market participants and clients.