New Delhi : NSE IFSC Ltd will launch single derivative contracts in 15 global stocks, including giants like Apple Inc, Facebook and Alibaba, as also trade in three additional currencies, including Swiss franc and the US dollar.
In a circular, the exchange announced introduction of these new contracts with effect from July 24. The new currency pairs also include the Japanese yen-US dollar and the Australian dollar-US dollar.
The 15 global stock derivatives will feature those of Alphabet Inc, Microsoft, China Mobile, Amazon.com, Exxon Mobil Corporation, Johnson and Johnson, JPMorgan Chase, Wells Fargo, General Electric Company, AT&T Inc, Bank of America and Procter and Gamble Company. IFSC is short for International Financial Services Centre.
There will also be day spread contracts in F&O of all these underlyings instead of two transactions to be done to roll over a contract to the next month series, it can be done as one transaction. This will bring down cost and risk of only one leg getting executed. NSE IFSC is a fully-owned subsidiary of the National Stock Exchange (NSE).