BSE applies for currency derivatives segment

August 8th, 2008 - 9:40 pm ICT by IANS  

Mumbai, Aug 8 (IANS) The Bombay Stock Exchange has applied to market regulator Securities Exchange Board of India (SEBI) for setting up a currency derivative segment. The currency derivatives segment is to be set up in line with the recommendations laid down in the report of the RBI-SEBI Standing Technical Committee on Exchange Traded Currency Futures, a statement said Friday.

It said the BSE is awaiting SEBI approval, after which it would prepare for launch of the segment.

For the currency derivatives market (the domestic volume in currency derivatives is approximately US $24 billion per day), the exchange is exploring strategic arrangements with certain established entities in the forex market. This, it is expected, would lend reach to domain expertise and an active participation to this evolving segment, the statement added.

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