Market voltile, Sensex up marginally

BSE to launch ‘Sensex futures’ on June 9

MUMBAI: Taking a lead over its immediate competitior National Stock Exchange (NSE), Bombay Stock Exchange (BSE) has announced the launch of `sensex futures’. The launch will take place on June 9, 2000, three days earlier from the NSE’s `nifty futures’. While making a formal announcement about the launch, Dr Manoj vaish, chief executive officer derivatives segement, BSE said that the BSE derivatives segment will commence trading in the ‘sensex futures’ from June 9, 2000. The index futures based on the benchmark index of Indian capital markets, the sensex, will allow the market participants to manage their portfolio risks efficiently,

The NSE is also launching derivatives segement with start of traing in `Nifty Futures’ on June 12, three days later to the BSE. According to Dr Vaish, the BSE 30-sensex would be the undrelying stock index with the contract multiplier of 50 and tick size of 0.10 (equivalent to Rs 5.00). The contract would be valid for a period of three months with last Thursday of the contract month being the last tracing day. The final settlement will be on the last trading day and the final settlement price will be calculated based on a set of 120 cash sensex values taken in the last half an hour of trading. The 20 highest and 20 lowest values will be ignored and the final settlement price will be computed as an average of remaining 80 values, Vaish stated.