Monday, 04 Dec, 2023




Rise and Fall of Interest Rate Futures in Indian Derivative Market

International Journal of Financial Management

Volume 5 Issue 1

Published: 2015
Author(s) Name: Pradiptarathi Panda, M. Thiripalraju | Author(s) Affiliation: Indian Institute of Capital Markets, (UTI Institute of Capital Markets), Mumbai, Maharshtra, India
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Interest rate derivatives are the most traded and widely accepted derivative instrument in the international market. But this product is not popular in Indian derivative market. In 1999, the Over the Counter (OTC) interest rate derivative products were introduced and successful in terms of volumes. The Indian financial market introduced exchange traded interest rate derivatives in the year 2003, 2009 and 2014. While the product failed twice, in the third time (in 2014) the initial volumes are sharply declining in three exchanges viz. MCX-SX, NSE and BSE. In this backdrop, this study attempts to analyse the past, present and future of interest rate futures in Indian derivative market using the volumes, values and open interest of Interest rate derivatives for three exchanges.

Keywords: Derivatives, Interest Rate Futures, Exchange Traded Interest Rate Futures

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