SINGAPORE, Mar 14, 2012 - (ACN Newswire) - S&P Indices today launched the S&P CNX Nifty Futures Real-time Index, a measure of the returns on offshore exposure to the Indian equity market based on Singapore Exchange (SGX)-listed S&P CNX Nifty Index futures prices.
The new S&P Nifty Futures Real-time Index tracks the performance of a portfolio holding a single SGX Nifty Futures reinvested on a monthly basis. The Index series is based on the front month Nifty Futures contract traded on SGX and reinvestment occurs over a three business day period preceding expiration.
The SGX Nifty Futures is based on the S&P CNX Nifty Index, the headline index of the National Stock Exchange of India which is owned and managed by India Index Services & Products Limited. A diversified 50-stock index comprising large and highly liquid securities, the Nifty Index covers 25 sectors of the Indian economy.
"The S&P CNX Nifty Futures Real-time Index was created for international investors seeking an efficient way to measure the performance of the fast-growing Indian economy and equity market," said Mr Michael Orzano, Associate Director of Global Equity Indices at S&P Indices. "The Index is also designed to serve as the basis for tradable products, opening an important portal for global investors into the Indian market."
"The S&P CNX Nifty Futures Real-time Index meets customers' demand to effectively benchmark a real-time investment process using SGX's premier Nifty futures contract. The underlying futures contract is liquid and US dollar-based, making the index a unique and investable benchmark for international fund managers to gain exposure to India's equity capital market," said Mr Michael Syn, Head of Derivatives at SGX.
The S&P CNX Nifty Futures Real-time Index offers a family of indices calculated in the U.S. Dollar, Euro, Swiss Franc and Swedish Krona, with currency hedged versions and various risk control volatility levels. For each index, both Excess Return and Total Return versions are available. For more information on the S&P CNX Nifty Futures Index, please visit http://www.standardandpoors.com/indices.
About Singapore Exchange (SGX)
Singapore Exchange (SGX) is the Asian Gateway, connecting investors in search of Asian growth to corporate issuers in search of global capital. SGX represents the premier access point for managing Asian capital and investment exposure, and is Asia's most international exchange with about 40% of companies listed on SGX originating outside of Singapore. SGX offers its clients the world's biggest offshore market for Asian equity index futures, centred on Asia's three largest economies - China, India and Japan.
In addition to offering a fully integrated value chain from trading and clearing, to settlement and depository services, SGX is also Asia's pioneering central clearing house. Headquartered in Asia's most globalised city, and centred within the AAA strength and stability of Singapore's island nation, SGX is a leading Asian counterparty for the clearing of financial and commodity products. For more information, please visit www.sgx.com.
Email: [email protected]
Email: [email protected]
Mar 14, 2012 11:00 HKT/SGT
Source: Singapore Exchange (SGX)
Topic: Press release summary
Sectors: Daily Finance, Daily News
From the Asia Corporate News Network
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