<p>Five of the world’s leading emerging market indices, will start to cross list their derivative indices from March 30, in a bid to expand their product offerings beyond their home markets.<br /><br /></p>.<p>The cross-listing of benchmark equity index derivatives is likely to facilitate liquidity growth in the BRICS markets and will considerably strengthen their international position.<br /><br />The derivatives to be cross-listed includes Brazil’s IBOVESPA futures; Russia’s MICEX Index futures; India’s Sensex Index futures; Hong Kong’s Hang Seng Index futures and Hang Seng China Enterprises Index futures; and South Africa’s FTSE/JSE Top40 futures, a joint statement said.<br /><br />Further, JSE will also list options on the benchmark futures of the other four member exchanges.<br /><br />The founding members of the BRICS Exchanges Alliance include BM&FBOVESPA from Brazil, Open Joint Stock Company MICEX-RTS from Russia, BSE Limited from India, Hong Kong Exchanges and Clearing Limited (HKEx) as the initial China representative, and JSE Limited from South Africa.<br /><br />The alliance was formed on October 12, 2011, at a World Federation of Exchanges’ conference in Johannesburg, South Africa.<br /><br />The listing of benchmark equity index derivatives marks the implementation of the first phase of the alliance.</p>
<p>Five of the world’s leading emerging market indices, will start to cross list their derivative indices from March 30, in a bid to expand their product offerings beyond their home markets.<br /><br /></p>.<p>The cross-listing of benchmark equity index derivatives is likely to facilitate liquidity growth in the BRICS markets and will considerably strengthen their international position.<br /><br />The derivatives to be cross-listed includes Brazil’s IBOVESPA futures; Russia’s MICEX Index futures; India’s Sensex Index futures; Hong Kong’s Hang Seng Index futures and Hang Seng China Enterprises Index futures; and South Africa’s FTSE/JSE Top40 futures, a joint statement said.<br /><br />Further, JSE will also list options on the benchmark futures of the other four member exchanges.<br /><br />The founding members of the BRICS Exchanges Alliance include BM&FBOVESPA from Brazil, Open Joint Stock Company MICEX-RTS from Russia, BSE Limited from India, Hong Kong Exchanges and Clearing Limited (HKEx) as the initial China representative, and JSE Limited from South Africa.<br /><br />The alliance was formed on October 12, 2011, at a World Federation of Exchanges’ conference in Johannesburg, South Africa.<br /><br />The listing of benchmark equity index derivatives marks the implementation of the first phase of the alliance.</p>