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of <h1>SEBI Introduces Exchange Traded Interest Rate Derivative Contracts with 10-Year and 91-Day Maturities in India.</h1> The Securities and Exchange Board of India (SEBI) announced the introduction of Exchange Traded Interest Rate Derivative Contracts in the Indian Securities Market. Initially, futures contracts will be introduced on a Notional Government Security with a 10-year maturity and a Notional Treasury Bill with a 91-day maturity. The contracts will require SEBI approval and must comply with specified disclosure requirements. Long Bond Futures and Notional T-Bill Futures will be cash settled, and risk containment measures will include portfolio-based margining, initial margin requirements, and exposure limits. Exchanges must provide detailed proposals for contract approval, including trading hours, risk protection mechanisms, and settlement procedures.
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