Nifty futures deals now on Chicago bourse,S&P 500 and Dow on NSE

The parties have also entered into a memorandum of understanding with respect to other areas of potential co-operation,including related to development and distribution of financial products and services. “The licence to the Nifty 50 from NSE’s affiliate India Index Services & Products Ltd (IISL),which is exclusive to CME Group within the Americas and Europe,is in addition to the existing licensing arrangement between Singapore Exchange Ltd (SGX) and IISL. The sublicenses to the S&P 500 and DJIA indexes,which are exclusive to NSE for rupee-denominated futures contracts traded within India,are being made available via sublicenses from CME Group and each of Standard & Poor’s and Dow Jones,respectively,” NSE said.

“Indian financial markets have gone through a phase of rapid growth in the past few years,” said Ravi Narain,MD & CEO,NSE. “Our products are traded by institutional investors worldwide,making the Nifty 50 one of the more widely traded global products. This association with CME Group will make the Nifty 50,and other products across various India-related asset classes,available to a much larger community of traders and investors. At the same time,investors in India will have access to new exchange traded products that reflect some of the world’s most widely traded equity indexes. This will improve portfolio choice for Indian investors by widening the array of assets that they can hold in their portfolios.”

CME Group executive chairman Terry Duffy said these agreements with the NSE represent another example of CME Group’s commitment to expand its global offerings and services to its customers. “These arrangements will allow us to expand on our benchmark equity index product suite and provide our customers with access to a futures contract that is based upon the leading benchmark index reflecting the Indian equity markets,” Duffy said.

“Our new partnership with NSE is an integral part of our global growth strategy,” said Craig Donohue,Chief Executive Officer,CME Group. “S&P Indices has a successful,twenty-seven year relationship with the CME Group in the US futures market,and a strong ten year association with the NSE in developing stock market indices in India,” said Alexander Matturri,executive managing director at S&P Indices.

NSE,Singapore exchange seek listing of more India-linked products

MUMBAI: The National Stock Exchange of India and the Singapore Exchange (SGX) have signed a memorandum of understanding (MOU) to cooperate in the development of a market for India-linked products. Under the MOU,both exchanges aim to explore future collaboration in the expansion,development and promotion of India-linked products and services to be listed on SGX. Subject to regulatory approval,these products may include equity products and other asset classes. NSE managing director & CEO Ravi Narain said,

“This marks a significant step towards fulfilling our common objective of expanding our reach to international investors.” ENS