IISL Launches Nifty 50 Futures Index
Index aims to reflect performance of Nifty 50 Futures contracts
Mumbai: A new index to reflect futures price movements in India’s benchmark index — NIFTY 50, has been launched today. In its endeavour to expand the suit of indices representing the Indian capital market, India Index Services & Products Ltd. (IISL), a NSE group company, has designed the 'Nifty 50 Futures Index'.
“It captures the performance of Nifty 50 Futures contracts. The index is constructed using the near month Nifty 50 futures contracts traded on NSE”, said Mr Mukesh Agarwal, CEO, India Index Products & Services Limited (IISL). Nifty 50 is the most actively traded index on F&O segment of NSE. The index will gradually roll over to the next available contract, three days prior to expiry day.
The index is expected to provide the market participants an additional vehicle to participate in India growth story. The base date of the index is April 01, 2005 and base value is 1000. The index shall have two versions namely - Price Return and Total Return. The Price Return version of the index shall measure the price returns of Nifty 50 futures traded at NSE. The Total Return version measures the price returns from Nifty 50 futures and investment returns based on 30 day MIBOR. The index will be maintained by IISL and calculated on an end-of-day basis.
The Nifty 50 Futures Index will be available for licensing for the launch of financial products.
About The National Stock Exchange of India (NSE):
In its 20 year history, NSE has transformed the capital market, based on technology, innovation, high standards of governance and management practices. NSE's business practices and high levels of integrity have earned it the trust of the financial markets worldwide. Besides being a platform of choice for all exchange traded financial products in India, NSE’s flagship index, the Nifty 50, has become a benchmark national level economic parameter. Since inception, the exchange has been covered extensively by global media and has won many accolades as recognition of this remarkable journey.
About India Index Services & Products Ltd. (IISL):
India Index Services & Products Ltd. (IISL), a NSE group company, was setup in May 1998 to provide a variety of indices and index related services for the capital markets. IISL is India's first specialised company focused upon the index as a core product. IISL maintains more than 100 equity indices comprising broad-based benchmark indices, sectoral indices and customised indices. IISL also maintains fixed income indices based on Government of India bonds. Many investment and risk management products based on IISL indices have been developed in the recent past, within India and abroad. These include index based derivatives traded on NSE, Singapore Exchange Ltd. (SGX), Chicago Mercantile Exchange Inc. (CME) and Osaka Exchange Inc. (OSE) and a number of index funds and exchange traded funds. The flagship 'Nifty 50' index is widely tracked and traded as the benchmark for Indian Capital Markets.
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