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E-mini and E-micro S&P CNX Nifty (Nifty 50) Futures
Two Smart New Ways to Access India's Market Opportunities


Gain access to the dynamic India dynamic stock market with new E-mini and E-micro S&P CNX Nifty (Nifty 50) futures. Developed in partnership with the National Stock Exchange of India (NSE), the contracts are listed and traded on the CME Globex platform, providing access to participants around the world.

 

Trading hours are Monday-Friday, 3:30 p.m. – 3:15 p.m. the next day Chicago time (except Friday, which closes at 3:15 p.m.) with a trading halt Sundays-Thursdays from 9:30-10:30 p.m. CDT (8:30 p.m.-9:30 p.m. CST) coinciding with the hour prior to the NSE open.

Important contract features:

  • Block Trade Eligibility for both contracts. For more info visit www.cmegroup.com/blocks.
    Contract
    E-mini Nifty 50 futures
    E-micro Nifty 50 futures    		 Minimum Block
    50 contracts
    250 contracts
  • Mutual Offset System (MOS) Eligibility for E-micro Nifty 50 futures with the Singapore Exchange enables participants to initiate a position at CME or SGX and offset it at the other exchange. For more information, visit the Mutual Offset System.
  • Dedicated market makers to help generate initial liquidity and two-sided markets.

Additional resources
E-mini and E-micro S&P CNX Nifty futures overview
About the Mutual Offset System
Quote Vendor symbols (Bloomberg, Reuters and more)
Free real-time Quotes: E-micro Nifty 50 futures
Free real-time quotes: E-mini Nifty 50 Futures
Product Frequently Asked Questions (FAQ)
Contract Specifications
Performance bonds/margin requirements
Richard Co - Director, CME Group Financial Research and Product Development - talks about the products

Cross-Listing Arrangement
On March 10, 2010, CME Group and NSE announced cross-listing arrangements that Include license agreements covering benchmark indexes for U.S. and Indian equities. The agreement provides CME Group with rights to create and list U.S. dollar-denominated futures contracts for trading on CME, while providing NSE with rights to create and (subject to the regulatory approval) list Rupee-denominated futures contracts on the S&P 500 and Dow Jones Industrial Average (DJIA) for trading on NSE.

Press release on cross-listing arrangement

 

Benefits

Access.
Benefit from simplified handling of regulatory, currency and time zone differences with these contracts.

Efficiency.
Trade using your existing front-end and clearing relationships to gain exposure to the opportunities of the Indian market as well as other leading equity markets around the world. No new development is required, and you can benefit from operational and margin efficiencies.

Strategic Opportunities.
Combine with other benchmark index contracts to express views on the direction of India’s market vs. the U.S. stock market (E-mini S&P 500 futures), vs. a broader view of world’s emerging markets (E-mini MSCI Emerging Markets futures) or to capitalize on arbitrage opportunities from short-term price differences vs. the SGX futures contract on the S&P CNX Nifty Index. You also can trade the contracts outright to hedge your risk from existing exposure to the Indian stock market.

Choice.
Enhances a portfolio of tradable U.S. and international index contracts available on CME Globex, with a choice of contracts in two sizes to fit a variety of trading needs.

Security.
Capitalize on the safety and security of our proven central counterparty clearing model, greatly reducing your counterparty risk.

 

Contract Specifications
  E-mini S&P Nifty 50 Futures E-micro Nifty 50 futures
Opening Date July 19, 2010
Ticker Symbols EMF
EMF = Clearing code		 MNF
II = Clearing code
Contract Size $10 x Index (e.g. if Index is at 5124.00 on 3/08/2010, contract value = $51,240) $2 x Index(e.g. if Index is at 5124.00, contract value = $10,248)
Tick Size (minimum fluctuation) 0.50 index pts =$5.00 0.50 index pts =$1.00
Trading Hours (All times are Chicago time) Mon-Fri: 3:30 p.m.-3:15 p.m. the next day (Friday close at 3:15 p.m.)
SUN: open at 5:00 p.m.-3:15 p.m. the next day)
Trading halt SUN-THURS: 8:30 p.m. - 9:30p.m. CST; 9:30 p.m. - 10:30 p.m. CDT.
Contract Months Two nearest serial and four quarterly (March quarterly cycle - Mar, Jun, Sep, Dec)
Last Trade Date/Time Close of trading at the National Stock Exchange of India (NSE) on the last Thursday of the month. 4:00 a.m. (Central Standard Time); 5:00 a.m. (Daylight Savings Time)
Final Settlement Procedure Cash settlement. All open positions at close of last day of trading are settled in cash to the final settlement price of the S&P CNX Nifty Index futures at the NSE.
Daily Price Limits RTH and ETH: 10%, 15% and 20% limits up or down
Position Limits 5,000 E-mini S&P CNX Nifty futures contracts or equivalent contracts net long or net short in all contract months combined
Block Trade Eligibility Yes. View more on block-eligible contracts.
MOS Eligibility No. Yes. View more on the Mutual Offset System (MOS)
Rulebook Chapter 381 382
Exchange Rule These contracts are listed with and subject to the rules and regulations of CME

 

 

Questions? Contact

For more information, contact members of the CME Group products and services teams at:

  U.S. Europe Asia
Phone 312-930-8233 +44 20 7796 7100 +65 6322 8595
Email equities@cmegroup.com Europeteam@cmegroup.com asiateam@cmegroup.com