Friday August 28, 09:40 PM Reuters

RBI releases rules for rate futures trading

MUMBAI (Reuters) - The Reserve Bank of India (RBI) said on Friday it has finalised the framework for trading in interest rate futures in consultation with the market regulator, and said the directions were effective immediately.

The RBI said commercial banks would be allowed to take trading positions in interest rate futures but would not be allowed to trade on behalf of their clients.

The National Stock Exchange (^NSEI : 4941.75 -63.8) has said it would launch interest rates futures from Aug. 31.

The central bank said it would place the guidelines on its website http://www.rbi.org.in

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