SEBI NOC Received for Proposed Corporate Bond Index Futures; RBI Approval Awaited

SEBI has given a No Objection Certificate for the proposed launch of futures contracts on a Corporate Bond Index.

Thu 1 Oct 2026

Regulatory Status

SEBI has given a No Objection Certificate for the proposed launch of futures contracts on a Corporate Bond Index

Product Purpose

Exchange-traded hedging, risk management and price discovery for corporate bonds

Pending Approval

Actual introduction still needs approval from the RBI

Market Context

World's largest derivatives exchange by trading volume (contracts) for calendar year 2025, per FIA statistics

What was shared

The company shared a press release stating it has received a No Objection Certificate (NOC) from SEBI for the proposed introduction of futures contracts on a Corporate Bond Index.

Purpose of the product

• Gives participants an exchange-traded instrument to manage corporate bond market risk.
• Supports portfolio hedging and price discovery in the corporate bond market.
• Can help market making by letting participants hedge risk from their corporate bond portfolios.
• Aimed at developing a broader corporate bond derivatives ecosystem in India.

Still pending

The introduction of the product is subject to the requisite approval from the Reserve Bank of India (RBI). So this is a regulatory clearance step, not a launch date.

Management comment

The Chief Business Development Officer described the NOC as an important milestone in the evolution of India's fixed income markets, saying a developed derivatives ecosystem can enable more efficient risk transfer and support greater institutional participation.

Context given in the release

• Operations began in 1994; first exchange in India to implement electronic trading.
• Described as the world's largest derivatives exchange by trading volume (contracts) for calendar year 2025, per FIA statistics.
• Ranked third in the world in the equity segment by number of trades (electronic order book) in 2025, per WFE statistics.

How investors may read it

The update announces a product-pipeline development in the fixed income segment rather than any financial outcome. No revenue, volume or fee figures accompany it, and the step forward depends on the further RBI approval.

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