...Closing Rates... 

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 ? 6 How is the final settlement price determined ? 

1 What is the underlying for SENSEX Futures ? The underlying for the SENSEX futures is the BSE Sensitive Index of 30 scrips, popularly called the SENSEX. 

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. 

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 ? The closing value of sensex of the cash market is taken as the final settlement price of the futures contract on the last trading day of the contract for settlement purpose 
