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Intemational Journal ot Scientific & Engineering Research Volume 3, [sue 12, December. 2012 ISSN 2329-5838 Development of Financial Derivatives Market in India and its Position in Global Financial Crisis Dr. Shree Bhagwat’, Ritesh Omre*, Deepak Chand? ‘Abstract-The past decade has witnessed the multiple growths In the volume of intemational rade and business due to the wave of globalization and liberalization allover the world. As a result, the demand forthe International money and fnancial instruments increased significantly atthe global evel. In this respect, change in exchange rates, interest rales and stock prees of diferent financial markets have increased the “nancial rsk tothe corporate Worl. Adverse changes have even tieatened the very survval of business word. itis, therefre, fo manage such isk, the new financial instruments have been developed inthe financial makes, which are also popularly know as financial derivatives. The basic purpose af these Instumeris I to provide commitments to prices for future dates Tor gving protection against adverse movements in future pices, n oer fo reduce the extent of fiancial fsks. Today, the financial derwvatives have become Increasingly popular and most commonly used in the world of nance. This has grown with 80 phenomenal speed all over the world that now it's called asthe derivatives revolution. In India, the emergence and grovzh of derivatives market is felatively a recent phenomenen. Since is inception in June 2000, derivatives market has exhibited exponential growth both in tems of volume and number of contrac traded. The market turnaver has grown from Fs.2365 Cr. in 2000-2001 to Rs.16807782.22 Cr. in 2012-13. Within a short span of ‘welve years, derivatives trading in India has surpassed cash Segment in terms of turnover and number of traded contacts. The passed study ‘encompasses in ts scope, history, concept, deition, types, features, regulation, market, trend, growth, Future prospects and challenges of derivatives in India ad status of Indian dorvatives market vis-a-vis global derivative marke. This pager tries to analyee the impact of global fnancal cise onthe financial derivatives market i India ts found thal the global nancial crisis of 2008 has structurally altered the composition of equity derivatives market in Inia. The predominance of single stock futures as a derivative product has now been replaced by the predominance of index option as favorite

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