Gift Nifty Futures sets an all-time high monthly turnover of USD 78.08 billion for February 2024
Open interest in Gift Nifty Futures stands at 2,21,054 contracts worth USD 9.81 billion (Rs 81,417 crore equivalent) as of February 29, 2024.
Gift Nifty, which stands as a new benchmark to the growth story of the Indian equity market, recorded a new milestone and has added yet another feather in its cap in terms of trading activities. Gift Nifty Futures reached an all-time high monthly trading activity of 17,65,768 contracts with a turnover of USD 78.08 billion (Rs 6,47,744 crore equivalent) for February 2024.
Trading turnover on NSE IX has been growing exponentially since the commencement of a full-scale operation of GIFT Nifty on July 3, 2023. Since the first day of full-scale operations, Gift Nifty Futures has witnessed a total cumulative volume of over 1.31 crore contracts with a total cumulative turnover of USD 534 billion. Open interest in Gift Nifty Futures stands at 2,21,054 contracts worth USD 9.81 billion (Rs 81,417 crore equivalent) as of February 29, 2024.
The Board of NSE, said, “We are glad to witness the success of GIFT Nifty and express our sincere gratitude to all the participants for their overwhelming support and for making GIFT Nifty a successful contract.”
About NSE IX:
NSE IX is an International assets exchange set up at GIFT City on June 5, 2017, and recognized by the International Financial Services Centre Authority (www.ifsca.gov.in). NSE IX offers a diversified portfolio of products including Indian single-stock derivatives, index derivatives, currency derivatives, depository receipts, commodity derivatives and Global Stocks. The exchange provides a comprehensive range of primary market products including a listing of equity shares, SPAC, REITs, InvITs, depository receipts, debt securities and ESG debt securities under the regulatory framework of IFSCA (Issuance and Listing of Securities) Regulations, 2021. NSE IX and GIFT NIFTY have received part 30 exemption from the Commodity Futures Trading Commission (CFTC) under regulation 30.10, which enables US customers to participate in derivative contracts listed on NSE IX.