NSE to exclude IOB, UCO Bank from F&O segment

Leading stock exchange BSE will drop state-run lenders Indian Overseas Bank and UCO Bank from the future and option segment from July 1.
However, the existing contracts of expiry months April, May and June would continue to be available for trading till their respective expiry and new strikes would also be introduced in the existing contract months.
"No contracts shall be available for trading in the securities (IOB and UCO Bank) with effect from July 1, 2016," NSE said in a circular.
At present, there are over 200 securities available in the F&O segment for trade.
In July 2015, Sebi had made a steep hike in the minimum investment size for any equity derivative product to Rs 5 lakh from Rs 2 lakh. Besides, the minimum lot size of an equity derivative contract increased to Rs 5 lakh.

A derivative is a security derived from a debt instrument, share, loan, whether secured or unsecured or any other form of security. It also derives its value from the prices, or index of prices, of underlying securities.