NSE sees record equity derivative and IRF t/o for the day

Leading stock exchange NSE today saw record volumes in equity derivatives at Rs 4.41 lakh crore and Rs 3,248.83 crore from interest rate futures.
As many as 1.14 crore derivative contracts were traded on the National Stock Exchange (NSE) amounting to a turnover of Rs 4.41 lakh crore, a record high for a day, the bourse said.
Out of this total turnover, trading in index options took the highest share with Rs 3.31 lakh crore followed by stock futures contracts at Rs 51,451 crore.
In comparison to NSE, equity derivative turnover on the BSE stood at Rs 24,855 crore with 6.58 lakh contracts.

Meanwhile, NSE bond futures (interest rate futures) today touched its highest level for a day at Rs 3,248.83 crore.
On the other hand, BSE saw a turnover of 108.64 crore from trading in interest rate futures.
An IRF is generally a contract between a buyer and a seller agreeing to the future delivery of any interest-bearing asset such as government bonds.
The cash-settled IRFs provides market participants with a better option to hedge risks arising from fluctuations in interest rates, which depend on various factors including RBI policy, demand for liquidity and flow of overseas funds.