Standard & Poor’s has licensed the National Stock Exchange of India to create and list Indian Rupee-denominated futures contracts on the S&P 500, subject to regulatory approvals.
The licensing agreement, jointly from S&P and S&P-licensee Chicago Mercantile Exchange to NSE, is part of a landmark cross-listing arrangement announced by CME Group and NSE that covers benchmark indices for US and Indian equities.
The Rupee-denominated S&P 500 futures contracts will be made available on NSE via a sublicense from Standard & Poor’s.
“Indian investors, like their counterparts around the world, want index products that provide immediate access to the world’s equity markets,” says Alexander Matturri, executive managing director at S&P Indices. “We are excited to be working with both NSE and CME Group to bring the premier US equity market gauge, the S&P 500, to Indian investors.”
