NSE likely to launch interest rate futures in a few weeks

The National Stock Exchange (NSE) is likely to launch interest rate futures in a few weeks, Managing Director and Chief Executive Officer Ravi Narain has said.

“We are working towards the launch of interest rate futures very shortly, hopefully in a few weeks,” Narain said at a risk management summit organised by the Confederation of Indian Industry.

The exchange was waiting for approval from the regulator, the Securities and Exchange Board of India (Sebi), he said.

A joint technical committee of the Reserve Bank of India and Sebi had, in June, recommended allowing interest rate derivatives based on 10-year government bond yields.

Meanwhile, the NSE was working on the modalities of forming an SME exchange, Narain said.