Mumbai: Growing interest of investors beyond the equities has catapulted the National Stock Exchange of India to a list of the world’s ten largest derivative bourses, with its trading volume clocking the fastest growth in the league.
According to an annual report on global trading volumes released by Washington-based trade group Future Industry Association (FIA), NSE has moved up six places to become the ninth largest derivative exchange in the world.
Besides, two other bourses from India, MCX and NCDEX have retained their places in the top 50 — MCX retained its 28th position while NCDEX slipped five places to 30th in the rankings based on trading volume for the year 2007.
In addition, about a dozen F&O contracts being traded on NSE, MCX or NCDEX have also made it to the top 20 rankings in the individual categories.
NSE has also emerged as the fastest-growing bourse among the world’s ten largest derivative exchanges as its total traded volumes nearly doubled in 2007.
According to FIA, NSE registered a growth of 95.32 per cent in its F&O volume in 2007 to close to 380 million as against about 194 million in 2006.
Following the merger of Chicago Board of Trade and Chicago Mercantile Exchange, CME Group has become the largest F&O exchange, pushing Korea Exchange to the second spot. CME and Korea Exchange saw 2.8 billion and 2.7 billion contracts respectively changing hands during the year.
The two were followed by Eurex, Liffe, CBOT, ISE, Bolsa de Mercadorias & Futuros of Brazil, Philadelphia Stock Exchange, NSE and Bolsa de Valores de Sao Paulo in top ten.
FIA said more than 15 billion F&O contracts changed hands during 2007 globally, representing a 28 per cent growth.