The BSE has launched the Sensex derivative contracts at the International Finain Services Center (IFSC) in Gifty City, Gujarat. The US dollar-centered contracts will have a business on India International Exchange (India INX) which is a BSE stock exchange for gift-IFSC.
The new contracts are for 22-hour trading untrue and they will enable Vaisti businessmen to achieve access to the Indian market in a tax-manner. The gift city provides a variety of tax benefits including a securities transaction tax (STT), capital profit tax or not levying stamp duty. The minimum size for Sensex derivatives has been fixed at $ 1, which will be finally settled on the last Tuesday of the contract. The contracts will be according to the three -month trading cycle and the disposal will be done in cash which will be in US dollars.
In a program organized on the occasion of the onset of Sensex derivative contracts, BSE Managing Director and Chief Karya Dhikari Sundarman Ramamurthy spoke about the benefits of Gift City for Vahi Shwik investors.