Learn GIFT Nifty
The contract in plain language.
The contract
US dollar contracts on the Nifty 50, traded on NSE IX in GIFT City. $2 times the index, tick $0.5, cash settled. Monthly expiries (three months out) plus quarterlies, all on the last Thursday. Options: weekly, monthly, quarterly, European style.
Four contracts
NSE IX lists futures and options on four indices: Nifty 50, Nifty Bank, Nifty Financial Services and Nifty IT.
Who can trade
Indian residents: IFSC-registered brokers under LRS. Foreign investors: FPI route or an IFSC broker. Your broker's IFSC onboarding document beats any blog, including mine.
FAQs
Is GIFT Nifty the same as Nifty futures on NSE?
No. NSE futures are rupee contracts onshore; GIFT Nifty is a dollar contract on an international exchange, open nearly 21 hours a day.
Why does it matter before 9:15?
It opens at 6:30 AM and absorbs overnight global news before the onshore open.
Where do the specs come from?
NSE IX contract specification circulars on nseix.com. Timings and calendars can change by circular.