Industry News

CME to Offer E-mini and E-micro S&P CNX Nifty (Nifty 50) futures

March 10, 2010

(This Article is from cmegroup.com press release)

Part of a Cross-Listing Relationship with the National Stock Exchange of India (NSE)

Later this year (by the end of Q3 2010), CME will launch two new international index contracts offering smart new ways to access India’s equity market – E-mini and E-micro S&P CNX Nifty (Nifty 50) futures.

These contracts are being developed as part of the new cross-listing arrangement announced by NSE and CME Group earlier today. This arrangement enables CME to create and list dollar-denominated futures on the S&P CNX Nifty Index (the leading Indian benchmark index for large companies accounting for 22 sectors of the Indian economy). The arrangement also provides NSE with rights to create and list Rupee-denominated futures on the S&P 500 Index and Dow Jones Industrial Average.

The contract size for the E-mini Nifty 50 futures will be $10 x Index value, while the E-micro Nifty 50 futures will be sized at $2 x the Index value. The contracts are designed to offer customers:

Access to Indian equity market performance with simplified handling of regulatory, currency and time zone differences
Efficiency from the ability to use existing front end and clearing relationships to trade; no new development required
Opportunity to use the contracts in potential new strategic combinations as a spread against positively or negatively correlated contracts
Choice from two contract sizes that enhance a full array of tradable U.S. and international stock market opportunities on CME Globex
Security and safety offered by our central counterparty clearing model.

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