Indian interest rate futures guidelines finalised

Reserve Bank of India's (RBI's) final guidelines on interest rate futures have resulted in mixed responses.

Under the guidelines, financial institutions under the central bank's jurisdiction can use National Stock Exchange of India's (NSE) pending 10-year bond and 91-day interest rate futures contracts only for hedging. Participants will also have to constantly monitor their "hedge efficiency".

Vineet Bhatnagar, managing director of Refco-Sify...