What are the contract specifications and trading parameters of CNX BANK Nifty Futures ?
The underlying instrument of S &P CNX BANK Nifty Futures is the index S &P CNX BANK Nifty. These contracts can have a trading cycle of maximum 3 months- the near month (one), the next month (two) and the far month (three). With the expiration of near month contract on the last Thursday of each month, a fresh contract is introduced on the very next day. The contract will expire on the previous trading day if last Thursday of the month is a trading holiday. The minimum value of a CNX BANK Nifty Future contract is Rs2, 00,000. Tick size of CNX BANK Nifty Futures is Re0.01. On the day of introduction of future contract, Base price of S&P CNX BANK Nifty futures contracts would be the previous day’s closing BANK Nifty value, which is the theoretical future price.