What is the maturity of the futures contract ?
Presently, SEBI has permitted Exchanges to offer futures products of 1 month, 2 months and 3 months maturity only on a rolling basis- e.g. say for May, June and July months. When the May contract expires there will be a fresh contract month available for trading viz. the August contract. These months are called the Near Month, Middle Month and Far Month respectively. On 9th June 2000, when Equity Derivatives were first introduced in India at the Bombay Stock Exchange, we started with the three monthly series for June, July and August 2000.
