Minimum contract value fixed at Rs 10 lakh at the time of introduction
The National Stock Exchange (NSE) has decided to launch futures contracts on India VIX -- a volatility index based on the index options prices of CNX Nifty. Trading in India VIX futures will begin from 26 February 2014, NSE said in a circular issued on Friday, 7 February 2014. The expiry of futures contracts on India VIX will take place every Tuesday. In case the Tuesday is a trading holiday, the previous trading day shall be the expiry/last trading day, the NSE circular said. All contracts shall expire at the normal market closing time on the expiry day or such other time as decided by exchange, NSE said. New futures contracts on India VIX shall be introduced for every week, after the expiry of the relevant previous week's contracts, NSE said.
The contract value of India VIX futures will be minimum Rs 10 lakh at the time of introduction of futures trading in India VIX, NSE said.
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