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Exchange Traded Cross Currency Derivatives contracts on various currency pairs introduced- (Securities and Exchange Board of India) (09 Mar 2016)


Capital Market

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.

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.

Relevant : Guidelines on trading of Currency Futures and Exchange Traded Currency Options MANU/APDR/0094/2015 Revision of limits relating to requirement of underlying exposure for currency derivatives contracts MANU/SDER/0002/2015 Exchange Traded Currency Derivatives MANU/SDER/0010/2008


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