NSE in pact with LIC, Central Bank to boost IRF mkt

In order to give a boost to the interest rate futures (IRF) market, the National Stock Exchange (NSE) has entered in to an agreement with Life Insurance Corporation (LIC) and Central Bank of India, who will take delivery of the underlying Government of India (GOI) securities. Central Bank of India has further agreed to offer securities from its book to members who desire to procure them to meet IRF obligation. Live trading in interest rate futures commenced on National Stock Exchange (NSE) on August 31, 2009 with the 10-year 7% government of India paper as the notional underlying asset. However ...

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