The Stock Exchange, Mumbai is pleased to announce successful launch of the first exchange based Financial derivatives product in India, the Sensex Futures. The inauguration of trading was done by Prof. J.R. Varma, member of SEBI and chairman of the committee responsible for formulation of risk containment measures for the Derivatives market. Dr. L.C. Gupta, chairman of the committee which framed the regulatory framework for the Derivatives segment in India, Mr. L.K. Singhvi, Sr. Executive Director, SEBI, Mr. O.P. Gehrotra, Sr. Executive Director, SEBI & Mr. Nagendra Parakh, Divisional Chief, Derivatives Segment, SEBI, were the distinguished people who graced the historical event by their presence.

Prof. J.R. Varma in his address said that he hoped that more derivative products would be developed for the Indian market and index futures is just the beginning of the same. Shri Anand Rathi, President, BSE, appreciated the cooperation extended by SEBI in the development of the segment and the significant contribution given by BSE’s business partners CMC Ltd., which developed the Derivative Trading & Settlement system for BSE and Tata Infotech Ltd. which did acceptance testing of the system and are also providing the facilities support. The Executive Director extended vote of thanks on behalf of the Exchange to all present for the event.

The first historical trade of 5 contracts of June series was done at 9.55.03 a.m. between M/s Kaji & Maulik Securities Pvt. Ltd. and M/s Emkay Share & Stock Brokers Ltd. at the rate of 4755. The Initial margin was kept at 10%.

The market summary is as under:

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