Initially, the futures will be traded on the BSE 30-share index and thecontract multiple has been fixed at 50, he said. ``The contract will have amaturity of three nearest serial months and will expire on the last Thursdayof the month,'' he said. ``We are starting with a product that is less riskyso that the market becomes more comfortable with it and its awareness ofderivatives products increases,'' Vaish said. He said the BSE has startedmock trading of derivatives which will go on until the introduction of livetrading.

``We expect derivatives trading volumes to be much higher compared to theunderlying cash market, as is happening overseas,'' Vaish added.