As Gift Connect offered multiple products for International Investors, Contract Specifications of Gift Nifty Bank Futures / NSE IFSC Nifty Bank Index Futures and Options are as below.
NSE IFSC Nifty Bank Index Futures Contract Specifications are as per NSEIX
| Instrument Type | FUTIDX |
|---|---|
| Underlying Asset | NIFTY BANK Index |
| Symbol | BANKNIFTY |
| Currency | US Dollars |
| Price Quotation | US Dollars Per Index Points |
| Lot Size | US $ 1 X Nifty Bank index |
| Tick Size | US $ 1 |
| Settlement Type | Cash Settled |
| Contract Calendar | Monthly expiring contracts for 3 months Quarterly: Three quarterly expiries (March, June, Sept & Dec cycle) |
| Expiry Day | Monthly contracts: Last Thursday of the Expiry Month Quarterly contracts: Last Thursday of the Expiry Quarter |
| Trade timing | Session-1 – 06:15 hrs to 15:50 hrs. Session-2 – 16:25 hrs to 02:45 hrs. (Next Day). Check detailed Gift Connect Trading hours |
| Expiry day – Expiring Contract | Trading :6:15 am to 3:30 pm (S1) * (*For latest trading time kindly refer circular) |
| Daily Settlement Price (DSP) | Last half hour VWAP of futures else theoretical price |
| Final Settlement Price (FSP) | Closing Nifty Bank Index value at NSE on expiry day |
| Daily Price Limit (DPL) | Operating range of 10% of the base price |
| Initial Margin | Based on SPAN |
| Daily Settlement & Final Settlement | Kindly refer to NSE International Clearing Circular for Daily settlement and final settlement |
| Position Limits | Kindly refer to relevant position limits circular |
| Spread contracts | The futures calendar spread contracts (2 legged) offered shall be the permutations of the listed monthly / quarterly contracts |
Contract Specifications of NSE IFSC Nifty Bank Index Options
| NSE IFSC Nifty Bank Index Options |
|---|
| Instrument Type | OPTIDX |
|---|---|
| Underlying Asset | NIFTY BANK Index |
| Symbol | BANKNIFTY |
| Currency | US Dollars |
| Price Quotation | US Dollars Per Index Points |
| Lot Size | US $ 1 X Nifty Bank index |
| Tick Size | US $ 1 |
| Settlement Type | Cash Settled |
| Contract Calendar | Weekly: 7 weekly expiry contracts excluding the expiry week of monthly contract. Weekly expiring Thursday of week Monthly expiring contracts for 3 months Quarterly: Three quarterly expiries (March, June, Sept & Dec cycle) |
| Expiry Day | Weekly Expiry : Thursday of the week Monthly Expiry : Last Thursday of the month Quarterly Expiry : Last Thursday of last month of the quarter. |
| Option Exercise | European Style |
| Option Type | Call (CE) & Put Options (PE) |
| No. of Strikes | 15-1-15 |
| Strike Interval | 100 |
| Trade timing | Refer to Trading hours for each instrument |
| Expiry day – Expiring Contract | Trading :6:30 am to 3:30 pm (S1) * (*For latest trading time kindly refer circular) |
| Final Settlement Price (FSP) | Closing Nifty Bank Index value at NSE on expiry day |
| Daily Price Limit (DPL) | A contract specific price range based on its delta value is computed and updated on a daily basis |
| Initial Margin | Based on SPAN |
| Daily Settlement & Final Settlement | Kindly refer to NSE International Clearing Circular for Daily settlement and final settlement |
| Position Limits | Kindly refer to relevant position limits circular |
Imp Note: Track Gift Nifty Live Price, Global Market data and FII DII Today Activity to setup for your Intraday/next day trading plan. More over Track Global Events like RBI Repo Rate, US Inflation and India WPI inflation to setup your positional trades.
