Osaka Securities Exchange Entered A License Agreement For CNX Nifty With IISL

Osaka Securities Exchange (OSE) today announced that it has entered into a license agreement for CNX Nifty, the benchmark index of India's leading stock exchange, the National Stock Exchange India Limited (NSE) with India Index Services & Products Limited (IISL), a subsidiary of NSE.

This agreement is an outcome of a letter of intent that was signed on January 10th 2013 between the Japan Exchange Group and NSE.

Under this license agreement, OSE shall introduce a Yen-denominated index futures contract based on CNX Nifty, with the targeted launch timing of March 2014. This will provide an opportunity to investors in Japan to trade India's most liquid index contract in Japanese yen.

CNX Nifty consists of the 50 largest and most liquid stocks, traded on NSE.