NSE and SGX singed (MOU) to cooperate in the development of a market for India-linked products:
- NSE and SGX have enjoyed a successful partnership since 2000 with the launch of the SGX S&P CNX Nifty Futures, which had trading volume of 7.1 million contracts last year. NSE Managing Director & CEO Mr. Ravi Narain said, “We welcome this MOU with SGX which will open up new opportunities for both exchanges.
- Today, the Nifty is used extensively by investors in India and around the world to take exposure to the Indian equities market.
- The total trading volume of Nifty-linked Futures on NSE in 2009 was 167 million contracts, representing a daily average of 687,000 contracts and the trading volume of Nifty-linked Options on NSE in 2009 was 321 million.
-Source: Nseindia.com 10/03/2010
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Now today i.e 29th’Jan’2010 as the CRR has been raised by 75 basis points which might result in some good up move in the Indian Stock Market which will attract Traders.