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MSEI to launch new interest rate futures contracts tomorrow

Press Trust of India  |  Mumbai 

Metropolitan Stock Exchange of Ltd (MSEI) will introduce tomorrow new 10-year futures (IRF) contracts offering 6.79 per cent yield on central bonds.

The contracts would mature in 2027 and are available to entities like banks, primary dealers, mutual funds, insurers, FIIs, corporates and retail investors, for trading on the exchange's platform, MSEI said in a statement today.

"The stock exchange will launch the new IRF contracts on May 16," MSEI said.

Other national bourses, and would also be launching similar contracts tomorrow.

An IRF is a contract between a buyer and a seller agreeing to the future delivery of any Interest bearing asset such as bonds.

IRF contracts are offered under 6 year, 10 year and 13 year maturity buckets, depending on the remaining tenure of the underlying bonds.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 15 2017. 15:49 IST