The National Stock Exchange of India Limited (NSE), on May 15, 2026, announced the introduction of Interest Rate Futures and Options contracts on Government of India (GOI) securities in the Currency Derivatives Segment with effect from May 19, 2026. The contracts are being introduced pursuant to SEBI guidelines governing selection of underlying securities for cash-settled interest rate futures.
The newly introduced contracts include futures and options on GOI securities bearing coupon rates of 6.36% maturing on February 16, 2031 (symbol: 636GS2031) and 6.94% maturing on May 11, 2036 (symbol: 694GS2036). The Exchange has also specified monthly and quarterly expiry schedules along with spread contract combinations for these instruments. The exclusion dates for these contracts are January 2027 and April 2028 respectively.
NSE further clarified that the lot size for the contracts shall be equivalent to ₹2 lakh face value of GOI securities, corresponding to 2000 units, and members must place orders in terms of lots. The quantity freeze limit has been fixed at 1250 lots, with larger orders subject to restrictions. Members have been advised to update local databases using the relevant contract files before the go-live date.
[Circular Ref. No. 16/2026]
