Singapore Exchange (SGX) said it expects to offer options on the S&P CNX Nifty Index (Nifty) and related products in the coming year.
Nifty is the leading index for large companies on the National Stock Exchange of India and contains 50 well diversified stocks accounting for 21 sectors of the economy.
This follows SGX’s obtaining of licensing rights from India Index Services & Products Limited (IISL) for the product range including derivative contracts on the CNX Nifty Junior, CNX 100 and CNX Midcap indices.
These new India-based products will provide market participants with increased trading opportunities and enhanced means for risk management. Since its launch in 2000, the SGX S&P CNX Nifty Futures has grown to be one of SGX’s key Asian equity derivatives products.
SGX also lists four exchange-traded funds (ETFs) linked to Indian equity indices on the securities market, namely the db x-trackers S&P CNX Nifty ETF, iShares MSCI India ETF, Lyxor India S&P CNX Nifty ETF and Lyxor MSCI India ETF with combined assets under management of US$782 million as at end-2009.