NSE to launch new 10-year bond futures on Monday

Last Updated: Thu, Jul 31, 2014 19:24 hrs

MUMBAI (Reuters) - National Stock Exchange said it would launch one, two and three-month interest rate futures (IRF) contracts based on the new 10-year 2024 bond starting on Monday.

Rival BSE Ltd could also launch IRF contracts on Monday based on the 10-year bond expected to become India's next benchmark, a spokesman for the exchange had earlier told Reuters.

"Bond futures on the new 10 year would likely be launched on Monday," the spokesman for the BSE said.

India sold 70 billion rupees ($1.16 billion) of the 8.40 percent 2024 percent bonds on July 25 and is scheduled to sell an additional 90 billion rupees worth of the debt on Friday.

The paper will eventually replace the 2023 bond as the country's benchmark bond.

(Reporting by Abhishek Vishnoi, Savio Shetty and Swati Bhat; Editing by Rafael Nam)

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