NSE, world's fastest growing F&O bourse

With investors increasingly looking beyond equities, India's National Stock Exchange has 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 an annual report on global trading volumes released by trade group Futures Industry Association (FIA) in Washington, 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.

NSE's growth was the quickest among the ten largest derivative exchanges, followed by 50.36 per cent increase in trading volumes at Bolsa de Mercadorias & Futuros of Brazil. Besides, NSE has moved up six places to become the ninth largest derivative exchange in the world, according to FIA.

FIA said more than 15 billion futures and options contracts changed hands during 2007 globally, representing an increase of 28 per cent from the previous year.

Following merger of Chicago Board of Trade and Chicago Mercantile Exchange, CME Group has become the largest exchange for F&O trading, 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, Chicago Board Options Exchange, International Securities Exchange, Bolsa de Mercadorias & Futuros, Philadelphia Stock Exchange, NSE and Bolsa de Valores de Sao Paulo in the top ten.

Two other Indian bourses, MCX and NCDEX, have been ranked at 28th and 35th positions respectively. MCX has retained its position, while NCDEX has slipped from 30th position in 2006.