NSE, MCX-SX gear for interest rate futures

The country’s largest exchange, the National Stock Exchange (NSE), and Financial Technologies-promoted Multi-Commodity Exchange (MCX-SX) are gearing for the foray into soon-to-start interest rates futures market.

MCX-SX has initiated road shows and workshops to spread awareness among trading and investing clout about trading in interest rate futures, the NSE is to commission a mock-trading session for market participants on the other.

NSE is all set to conduct mock-trading session to help market participants familiarise themselves with the necessary software and technology.

In this wake, the MCX-SX had organised discussion forums and workshops on interest rate futures in Mumbai and New Delhi mainly to channelise support from other industry players.

MCX-SX has been providing trading in currency futures since August 2008 and it is looking for regulatory approval for launching equity trading. A survey is being commissioned by a special committee of the Securities and Exchange Board of India and the Reserve Bank of India to ensure necessary regulatory environment for interest rate futures, to be launched in August 2009.