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SEBI approves new derivative products
India's market regulator SEBI said on Wednesday its board has approved launch of several new derivative products to provide investors a wide range of risk mitigation products and create more activity in the onshore market. The products will relate to mini-contracts on equity indices, options with longer life, volatility index and F&O contracts, options on futures, bond indices and F&O contracts, foreign exchange F&O and introduction of exchange-traded products.

"These products are also expected to bring transactions based on private-synthetic products to an exchange-traded transparent mechanism with appropriate regulatory supervision," the Securities and Exchange Board of India said in a statement. The market regulator's committee on derivatives is expected to finalise its recommendations on suitable over-the-exchange derivate products for Indian markets, it said. Currently, the contract value in futures and options (F&O) segment is around Rs 2 lakh.

As the price of a stock goes up, the exchanges read just the contract basket to keep the value in the region of Rs 2 lakh. The government and the regulators are looking at a lower limit of Rs 40,000 to enhance retail participation. Derivatives are financial instruments whose value is derived from the value of the underlying asset. A futures contract gives the holder the obligation to buy or sell. An options contract gives the holder the right, but not the obligation to buy or sell.

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