The NSE-FTSE 100 today grossed nearly Rs 500 crore volume on the first day of its launch.
“The traded value of derivative contracts on FTSE 100 was nearly Rs 500 crore today,” NSE said in a statement here.
Total number of derivatives contracts on the FTSE 100 was over 17,600. This is the first time that futures and options contracts,based on an English stock index,have been launched in the country,it said.
FTSE 100 includes the 100 largest listed blue chip companies on the London Stock Exchange and has given returns of 17.8 percent on investment over three years. The index constitutes 85.6 percent of the English equity market capitalisation.
The NSE has waived transaction fees for trading in the FTSE 100,till November 2,2012,to encourage active participation in the contracts.
The NSE has also announced a liquidity enhancement scheme to provide incentives to clients and member brokers at the order level,trade level and open interest level.
The exchange said that trading in derivative contracts of FTSE 100 on NSE has several benefits for investors as it helps in portfolio diversification which yields higher returns and poses a lower risk than any individual investment found within the portfolio.
These contracts can be used to hedge overseas portfolios and to take positions based on expected news flow from Britain,the release said,adding there is a three-hour timing overlap between the Indian and UK markets.