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RBI to examine S&P 500, Dow trading on NSE

By SiliconIndia   |   Tuesday, August 31, 2010   |    1 Comments
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Mumbai: RBI has now considered the issue of allowing trading in Dow Jones and S&P 500 on the National Stock Exchange (NSE) from SEBI. NSE had sent its application to the capital market regulator in order to seek approval for starting futures trading in these indices. If this application is approved, both these indices will be traded on an exchange outside the U.S. for the first time, reports Rajesh Bhayani of Business Standard. NSE has designed these contracts in such a way that the dollar movement does not get reflected and both the indices will be denominated in terms of Indian currency. Presently, Hang Seng, the Hong Kong stock market's benchmark index, is listed on NSE and the net asset value of that exchange traded fund (ETF) has been declared after noting the rupee dollar movements. According to sources, there may not be any issue in allowing trading in the Dow Jones and the S&P 500 since RBI has allowed trading in that ETF.
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