The Bombay Stock Exchange has said its benchmark index Sensex-based futures will start trading on the US Futures Exchange from on Friday.

The launch of the Sensex-based futures would enable overseas investors to get an exposure to the domestic market, a BSE statement said.

Trading on these futures on the USFE, Chicago would be available for 23 hours a day to capture different time zones. The dollar-denominated cash settled contract would give arbitrage opportunities to the investors.

“It is indeed a proud moment for us, given the fact that we have been able to put the Indian markets on the global map by providing a platform for investors across geographies to invest in the promising India growth story.

“We are confident of the fact that this exclusive arrangement with USFE will be a success and will be a milestone in the history of the Indian capital market,” said BSE managing director and CEO Rajnikant Patel.

The contract would have a notional value of $40,000 and a tick value of $10. The clearing and settlement would take place through The Clearing Corporation, Chicago.