MCX-SX exchange kicks off interest rate futures

Written by Reuters | Updated: Jan 20 2014, 17:01pm hrs
MCX IndiaThe IRF contract traded is the 7.16 per cent 2023 bonds on Monday. (AP)
Cash-settled interest rate futures started trading in India's MCX Stock Exchange Ltd (MCX-SX) on Monday.

Multi Commodity Exchange of India Ltd

The IRF contract for the 10-year benchmark 8.83 percent 2023 bond attracted the highest volume at 1.5 billion rupees ($24.4 million) with a last traded price of 101.65 rupees.

The other IRF contract traded is the 7.16 percent 2023 bonds on Monday.

The National Stock Exchange will start trading IRF contracts from Tuesday, while BSE Ltd will start trading them from Jan. 28.