Nifty 50 futures listed on Taiwan Futures Exchange
Mumbai, Nov 7 (IANS) The National Stock Exchange of India (NSE) on Monday said it has launched Nifty 50 based futures on Taiwan Futures Exchange (TAIFEX).
According to NSE, TAIFEX Nifty 50 futures is a “New Taiwan Dollar” (TWD) denominated contract and the first Indian equity index futures product to be introduced in Taiwan.
“Nifty 50 represents one of the fastest growing economy in the world. It’s an inevitable choice for global investors who want to invest in India,” said Chitra Ramkrishna, IISL (India Index Services and Products Limited) Chairperson, and Managing Director and Chief Executive of the NSE.
“Going forward, investors from Taiwan can take a view on the top 50 Indian companies representing multiple sectors in India by investing in TAIFEX Nifty 50 futures,” Ramkrishna was quoted as saying in a statement.
The stock exchange platform said the TAIFEX Nifty 50 futures is TWD 50 per index in contract size, and will trade from 8:45 a.m. to 6:15 p.m. Taiwan time, covering the entire trading session of the Indian market.
“These contracts provide useful hedging tools for investors who have India market exposure and need to manage risk from market fluctuations,” the statement said.