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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> </head> <body> <div style="font-family:Verdana, Geneva, sans-serif; font-size:12px; text-align:justify"> <table width="800" border="0" style="border:1px solid #ccc;padding:5px;" align="center" cellpadding="6" cellspacing="0"> <tr> <td align="left" valign="top"> <br /> Securities and Exchange Board of India <br /><br /> Exchange Traded Cross Currency Derivatives contracts on various currency pairs introduced<br /><br /> MANU/SDER/0005/2016 - (09 Mar 2016)<br /><br /> </td> </tr> <tr> <td align="left" valign="top"></td> </tr> <tr> <td align="left" valign="top" style="background-color:#FDEDCE"><strong>The Securities and Exchange Board of India permitted stock exchanges to introduce cross-currency futures and options contracts on EUR-USD, GBP-USD and USD-JPY. Trading in cross-currency derivatives contracts is allowed between 9.00 am and 7.30 pm. Additionally, stock exchanges will have to implement mechanisms of Dynamic Price Bands in the currency derivatives segment to prevent acceptance of orders beyond the price limits set. Product Design and Risk Management framework for the contracts is annexed with the notification.<BR><BR> Previously, the Reserve Bank of India had permitted stock exchanges offering cross-currency futures and option contractions for the same currency pairs and also allowed offering of currency option contracts in EUR-INR, GBP-INR and JPY-INR, in addition to the existing USD-INR currency pair.</strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Relevant : Guidelines on trading of Currency Futures and Exchange Traded Currency Options <manuid>MANU/APDR/0094/2015</manuid> Revision of limits relating to requirement of underlying exposure for currency derivatives contracts <manuid>MANU/SDER/0002/2015</manuid> Exchange Traded Currency Derivatives <manuid>MANU/SDER/0010/2008</manuid></strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Tags : Exchange traded, cross currency, derivatives contract</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <!--<td><strong>Source : <a target="_new" href="http://www.manupatrafast.com/">newsroom.manupatra.com</a></strong></td>--> <td align="left" valign="top"><strong>Source : newsroom.manupatra.com</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <td align="left" valign="top">Regards</td> </tr> <tr> <td align="left" valign="top">Team Manupatra</td> </tr> <tr> <td align="left" valign="top"> </td> </tr> </table> </div> </body> </html>