NSE likely to launch interest rate futures shortly

MUMBAI: The National Stock Exchange
(NSE) is likely to launch interest rate futures after receiving regulatory approval, a top exchange official
said.

"We are working towards the launch of interest rate futures in a few weeks," NSE's MD and CEO Ravi Narain said at a risk management summit organised by the Confederation of Indian Industry (CII)today.

The exchange is awaiting approval from the regulator, Securities and Exchange Board of India (SEBI), Narain said.

The joint committee, drawing on representatives from the Reserve Bank of India and Securities & Exchange Board of India (SEBI) are in talks to finalise the nitty-gritty of the operation of interest rate futures on the basis of the report submitted by the technical advisory committee, formed by the Centre to create a framework for trading on this derivative instrument.

A special committee of the Securities and Exchange Board of India and the Reserve Bank of India has been surveying the market to ensure the necessary regulatory environment.