India's first bond futures imminent

India could see its first interest rate futures contract in under a month's time. The contracts could be launched as early as 21 April, according to a consultative paper released by the working group of Securities and Exchange Board of India (SEBI).

A ten-year cash settled bond futures contract is proposed for listing, with INR/USD, short-term interest rate and other long-term interest rate futures and options to follow.