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FAQ's on Sensexs Futures Product Specifications

1 What is the underlying for SENSEX Futures ?

2 What is the contract multiplier ?

3 What is the ticker symbol and trading hours ?

4 What is the maturity of the futures contract ?

5 What is the tick size ?

1 What is the underlying for SENSEX Futures ?

2 What is the contract multiplier ?

The contract multiplier is 50. This means that the Rupee notional value of a futures contract would be 50 times the contracted value. The following table gives a few examples of this notional value.

3 What is the ticker symbol and trading hours ?

The ticker symbol is BSX. The trading hours are the same as in cash market.

4 What is the maturity of the futures contract ?

Regulations permit introduction of futures upto 12 months maturity. Initially, however, futures for the three near months have been introduced. On 9^th June the three futures for June, July and August 2000 were started. These futures expired on 29^th June, 27^th July and 31^st August respectively. This is because the expiry date has been fixed as the last Thursday of the month for each month. The day after the expiry, a new future would come into existence for three month maturity. For example, on 30^th of June the September future came into existence. This future expired on 28^th of September, being the last Thursday of the month.

5 What is the tick size ?

The tick size is "0.1". This means that the minimum price fluctuation in the value of a future can be only 0.1. In Rupee terms, this translates to minimum price fluctuation of Rs. 5 ( Tick size X Contract Multiplier = 0.1 X Rs. 50).

6 How is the final settlement price determined ?