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Trading volume in index derivatives crossed USD 100 million on NSE IFSC Limited in a single day on November 10.This is the first time that the volume for index derivatives in an exchange in GIFT international financial services centre (IFSC) has crossed USD 100 million.Trades in 8590 contracts worth USD 88.73 million were executed in NIFTY 50 futures and 735 contracts worth USD 18.72 million were traded in Nifty Bank contracts.NSE IFSC Limited, a 100 percent subsidiary of NSE, launched is trading operations at the International Financial Service Centre (IFSC) at the Gift City in Gujarat on June 5, 2017.The Exchange offers trading in index derivatives, Indian and global single stock derivatives, gold & silver futures and non-INR currency pairs.
NSE IFSC Ltd will launch single derivative contracts in 15 global stocks, including giants like Apple Inc, Facebook and Alibaba, as also trade in three additional currencies, including Swiss franc and the US dollar. In a circular, the exchange announced introduction of these new contracts with effect from July 24. The new currency pairs also include the Japanese yen-US dollar and the Australian dollar-US dollar. The 15 global stock derivatives will feature those of Alphabet Inc, Microsoft, China Mobile, Amazon.Com, ExxonMobil Corporation, Johnson and Johnson, JPMorgan Chase, Wells Fargo, General Electric Company, AT&T Inc, Bank of America and Procter and Gamble Company. IFSC is short for International Financial Services Centre. There will also be day spread contracts in F&O of all these underlyings -- instead of two transactions to be done to roll over a contract to the next month series, it can be done as one transaction. This will bring down cost and risk of only one