S&P Launches S&P CNX Nifty Futures Index

HONG KONG, June 27, 2011 /PRNewswire/ -- S&P Indices announced today the launch of the S&P CNX Nifty Futures Index, which tracks the performances of a portfolio which holds one CNX Nifty Futures contract that rolls monthly.

Following the leading index for large-cap companies on the National Stock Exchange of India, the new S&P CNX Nifty Futures Index is an India country index based on the concept of an index tracking a futures contract. The Index is based on the front month contract traded on SIMEX (Singapore Exchange Ltd). Roll occurs over a three-day period from the third business day prior to expiration to the first business day prior to expiration.

The S&P CNX Nifty is the headline index on the National Stock Exchange of India Ltd. (NSE), owned and managed by India Index Services & Products Limited (IISL), a joint venture between NSE and CRISIL Ltd. It is a diversified 50 stock index comprising large and highly liquid securities, covering 25 sectors of the economy. The Index was created for those interested in trading and investing in Indian equities.

"The S&P CNX Nifty Futures Index was created for international investors seeking an efficient way to gain exposure to the performance of the fast-growing Indian economy and equity market," says David Blitzer, Managing Director and Chairman of the Index Committee at S&P Indices. "The Index is also designed to serve as the basis for tradable products, opening an important portal for global investors into the Indian market."

The S&P CNX Nifty Futures Index offers a family of indices in SEK, CHF and EUR, with hedged versions for each. It is designed to serve as the basis for tradable products, particularly OTC. The index family consists of the following indices:

• S&P CNX Nifty Futures Index
• S&P CNX Nifty Futures SEK Index
• S&P CNX Nifty Futures SEK Hedged Index
• S&P CNX Nifty Futures CHF Index
• S&P CNX Nifty Futures CHF Hedged Index
• S&P CNX Nifty Futures EUR Index
• S&P CNX Nifty Futures EUR Hedged Index
• S&P CNX Nifty Futures Risk-Control Index

Simultaneously S&P Indices will be offering risk control versions of the S&P CNX Nifty Futures Index. This allows investors to limit volatility by replacing equities with a cash component if volatility levels exceed a specified level.  The risk control versions will be for 10%, 12%, 15%, 18%, 20% volatility levels denominated in USD, EUR, SEK, and CHF.

For more information on the S&P CNX Nifty Index, please visit http://www.standardandpoors.com/indices.

About S&P Indices

S&P Indices, a world leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Over $1.25 trillion is directly indexed to Standard & Poor's family of indices, which includes the S&P 500, the world's most followed stock market index, the S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, the S&P Global BMI, an index with approximately 11,000 constituents, the S&P GSCI, the industry's most closely watched commodities index, and the S&P National AMT-Free Municipal Bond Index, the premier investable index for U.S. municipal bonds. For more information, please visit www.standardandpoors.com/indices.

Standard & Poor's does not sponsor, endorse, sell or promote any S&P index-based investment product.  This document does not constitute an offer of services in jurisdictions where Standard & Poor's or its affiliates do not have the necessary licenses.  Standard & Poor's receives compensation in connection with licensing its indices to third parties.

About India Index Services & Products Ltd. (IISL)

India Index Services & Products Limited (IISL), a joint venture between NSE and CRISIL Ltd. (formerly the Credit Rating Information Services of India Limited), was setup in May 1998 to provide a variety of indices and index related services and products for the Indian capital markets. It has a licensing and marketing agreement with Standard and Poor's (S&P), the world's leading provider of investible equity indices, for co-branding equity indices.

IISL provides a broad range of services, products and professional index services. It maintains over 80 equity indices comprising broad-based benchmark indices, sectoral indices and customised indices. Many investment and risk management products based on IISL indices have been developed in the recent past, within India and abroad. These include index based derivatives traded on NSE, Singapore Exchange (SGX) and Chicago Mercantile Exchange (CME) and a number of index funds and exchange traded funds.

SOURCE Standard & Poor's