Growing interest of investors beyond the equities has catapulted the National Stock Exchange of India to a list of the world’s ten largest derivative bourses, with its trading volume clocking the fastest growth in the league.

According to an annual report on global trading volumes released by Washington-based trade group Future Industry Association (FIA), NSE has moved up six places to become the ninth largest derivative exchange in the world.

Besides, two other bourses from India, MCX and NCDEX have also retained their positions in the top 50 — MCX retained its 28th position while NCDEX slipped five places to 30th in the rankings based on trading volume for the year 2007.

In addition, about a dozen F&O contracts being traded on NSE, MCX or NCDEX have also made it to the top 20 rankings in the individual categories.

NSE has also emerged as the fastest-growing bourse among the world’s ten largest derivative exchanges as its total traded volumes nearly doubled in 2007. According to FIA, NSE registered a growth of 95.32 per cent in its F&O volume in 2007 to close to 38 crore as against about 19.4 crore in 2006.

Other toppers

Following the merger of Chicago Board of Trade and Chicago Mercantile Exchange, CME Group has become the largest F&O exchange, pushing Korea Exchange to the second spot. The two were followed by Eurex, Liffe, CBOT, ISE, Bolsa de Mercadorias & Futuros of Brazil, Philadelphia Stock Exchange, NSE and Bolsa de Valores de Sao Paulo in top ten.

MCX recorded a growth of 51.1 per cent to about 69 million F&O contracts in 2007, while that of NCDEX dropped 34.4 per cent to 35 million contracts.

Among the top 50 Exchange-traded derivative contracts, NSE’s Nifty Futures was ranked 19th with 138.8 million contracts, which grew 97.5 per cent in the year.