- MIAX News
The Options Industry Council and Financial Technologies Group Partner to Offer Options Education in India
Mumbai and Chicago—April 30, 2010
The Options Industry Council (OIC), the primary U.S. resource for options education, has partnered with India's Financial Technologies Group (FTIL Group) to help achieve the objective of increasing financial literacy in India by offering education on the proper use of options as a risk-mitigating tool and providing an understanding of the benefits and risks of options trading.
The partnership expands OIC's educational efforts in Asia, enhancing its reach in emerging economies through FTIL Group's network of financial exchanges that include MCX and MCX-SX in India.
"We are pleased to partner with FTIL Group and continue OIC’s mission of educating investors around the world about the benefits and risks of exchange-listed options,” said Gina McFadden, President of OIC. “We look forward to working with FTIL Group on innovative co-branded educational efforts."
FTIL Group and OIC will develop and share their expertise and leverage their partnership to endorse joint educational efforts, including case studies, research and white papers that promote the responsible use of options in the United States and India, aimed at Indian investors and financial advisors.
The affiliation with OIC is an extension of FTIL Group's efforts to increase awareness on trading of financial and listed derivatives products in India. "The association with OIC is a pioneering endeavour by the Group to increase its educational efforts and enable financial inclusion in India through financial literacy. OIC's broad industry experience will help Indian investors, both institutional and retail, to understand the advantages of using listed financial options instruments for hedging," said Jignesh Shah, Group Chairman and CEO, FTIL Group. The partnership enables FTIL Group to offer comprehensive education for customers interested in options trading.
“With India's financial derivatives market witnessing enhanced volumes and increased participation in options trading in recent times, there is pent-up demand for financial derivatives products. Our endeavour is to develop India's options market through financial literacy and increase awareness about trading in options,” said Miten Mehta, Director – Global Market Development, FTIL Group.
India's options market grew at an astounding pace of 186% in 2008 (in volume) over the preceding year, according to data from Futures Industry Association. As India’s financial markets continue to grow and evolve with a strong retail and institutional investor base, there is a need to further expand the options market through a variety of new products and an increased focus on investor awareness.
About Financial Technologies Group (www.ftindia.com)
(NSE: FINANTECH, BSE: FlNTECH, Bloomberg: FTECH IN)
Financial Technologies Group is the holding company of the Group’s flagship company Financial Technologies India, which is the global leader in offering technology IP and domain expertise in creating next-generation financial markets (exchanges) across all asset classes such as equities, commodities, currency and debt. The Financial Technologies Group currently owns and operates 10 national and international exchanges spanning markets from Africa to the Middle East, India and South East Asia. It owns and operates six ecosystem ventures to support and complement the exchange businesses.
OIC is an industry cooperative funded by BATS Options, Boston Options Exchange, Chicago Board Options Exchange, International Securities Exchange, NASDAQ OMX PHLX, NASDAQ Options Market, NYSE Amex Options, NYSE Arca Options and The Options Clearing Corporation. OIC was formed in 1992 to educate investors and their financial advisors about the benefits and risks of exchange-traded equity options. OIC's resources include: The Options Industry Services Help Desk at 1-888-OPTIONS, educational websites at www.OptionsEducation.org, www.OptionsEducation.org/advisor and www.OICoptions.com, evening seminars throughout the continental United States and Canada, instructional DVDs and educational literature and software.
Financial Technologies Group
Tel: +91 22 67152000
Cell: 99302 68092
Director of Public Relations
Safe Harbour Statement
Certain statements made in this release with reference to future operations and performance of Financial Technologies, its subsidiaries, and other group companies are forward-looking statements, involving risks and uncertainties. Certain factors could cause actual results to differ materially from those in such forward-looking statements. The company does not undertake responsibility to update any forward-looking statement that may be made from time to time by or on behalf of the company.
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