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The Options Industry Council (OIC), the primary U.S. resource for options education, has partnered with India’s Financial Technologies Group (FTIL Group) to help achieve the objective of increasing financial literacy in India by offering education on the proper use of options as a risk-mitigating tool and providing an understanding of the benefits and risks of options trading.
The partnership expands OIC’s educational efforts in Asia, enhancing its reach in emerging economies through FTIL Group’s network of financial exchanges that include MCX and MCX-SX in India.
“We are pleased to partner with FTIL Group and continue OIC’s mission of educating investors around the world about the benefits and risks of exchange-listed options,” said Gina McFadden, President of OIC. “We look forward to working with FTIL Group on innovative co-branded educational efforts.”
FTIL Group and OIC will develop and share their expertise and leverage their partnership to endorse joint educational efforts, including case studies, research and white papers that promote the responsible use of options in the United States and India, aimed at Indian investors and financial advisors.
The affiliation with OIC is an extension of FTIL Group’s efforts to increase awareness on trading of financial and listed derivatives products in India. “The association with OIC is a pioneering endeavour by the Group to increase its educational efforts and enable financial inclusion in India through financial literacy. OIC’s broad industry experience will help Indian investors, both institutional and retail, to understand the advantages of using listed financial options instruments for hedging,” said Jignesh Shah, Group Chairman and CEO, FTIL Group. The partnership enables FTIL Group to offer comprehensive education for customers interested in options trading.
“With India’s financial derivatives market witnessing enhanced volumes and increased participation in options trading in recent times, there is pent-up demand for financial derivatives products. Our endeavour is to develop India’s options market through financial literacy and increase awareness about trading in options,” said Miten Mehta, Director – Global Market Development, FTIL Group.
India’s options market grew at an astounding pace of 186% in 2008 (in volume) over the preceding year, according to data from Futures Industry Association. As India’s financial markets continue to grow and evolve with a strong retail and institutional investor base, there is a need to further expand the options market through a variety of new products and an increased focus on investor awareness.
