MCX-SX to launch trading in F&O on SX40

MCX Stock Exchange will introduce trading in derivative contracts on its flagship index —SX40 from 15^th May 2013.
SX40 is a free float based index of 40 large-cap liquid stocks representing diversified sectors of the economy
Benefit: 
It will take Indian markets closer to global investors and introduce global best practices in the domestic market as it is an adoption of Industry Classification Benchmark (ICB), the global company classification standard of the FTSE Group.
Key Info: 

• Date of launch :       15^th May 2013
• Trade timings:         09:15 – 15:30 hrs.
• Days:                           Monday – Friday
• Products :                 Future & Options
• Trading cycle:         Minimum of three contracts having maturity of 1-month, 2-month and 3-month.

 Potential Investors:

• Retail
• Institutional
• Fund houses
• Global Investors i.e. FII, international hedge funds etc.

Month: Current Affairs - May, 2013

Category: India Nation & States Current Affairs