India to start trade in currency options from Friday
Published on Thu, Oct 28, 2010 at 19:46 | Source : Reuters
Updated at Fri, Oct 29, 2010 at 11:44
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India to start trade in currency options from Friday
The National Stock Exchange (NSE) and the United Stock Exchange (USE) will go live with trading in currency options in the dollar-rupee pair from Friday, they said in separate press releases.
The National Stock Exchange (NSE) and the United Stock Exchange (USE) will go live with trading in currency options in the dollar-rupee pair from Friday, they said in separate press releases.
Both had received approval from the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI) to launch options trading with the two regulators playing watchdog.
The NSE is currently offering options in the dollar-rupee pair with three consecutive monthly contracts and one quarterly contract expiring in March.
The USE, on the other hand, is offering options for expiry in the three near months and three quarters going ahead, allowing users the flexibility to take price insurance over a longer time frame.
The contracts will expire at 12 noon, two days prior to the last business day of the expiry month and each lot size would be worth 1000 dollars.
