NSE to launch Nifty Futures on Chicago Mercantile Exchange

The National Stock Exchange of India (NSE), and CME Group, the world’s leading and most diverse derivatives marketplace, announced cross-listing arrangements, including license agreements covering benchmark indexes for US and Indian equities. The parties also entered into a MoU with respect to other areas of potential co-operation, including related to development and distribution of financial products and services. Under the cross-listing arrangements, the S&P CNX Nifty Index will be made available to Chicago Mercantile Exchange (CME), for the creation and listing of US dollar denominated futures contracts for trading on CME, and the rights to the S&P 500 and Dow Jones Industrial Average (DJIA) will also be made available to NSE for the creation and (subject to regulatory approval) listing of Rupee-denominated futures contracts for trading on NSE. The license to the Nifty 50 from NSE’s affiliate India Index Services & Products Ltd. (IISL), which is exclusive to CME Group within the Americas and Europe, is in addition to the existing licensing arrangement between Singapore Exchange Ltd. (SGX) and IISL.