The pace of development in Indian derivatives markets may be about to quicken. Regulators and the central bank are expected to approve new interest rate futures, exchange-traded FX options and a delivery-based settlement for the recently introduced FX futures in the coming months.
While the Securities and Exchange Board of India has declined to comment on the expected timeline for the introduction of new instruments, the regulator confirmed that a joint technical committee it established with the Reserve Bank of India to develop the country’s FX futures market is also working on a new regime for interest...