Monday, November 15, 2010

USE, NSE GET NOD FOR CURRENCY OPTIONS

The booming exchange-traded currency derivatives segment will soon see the introduction of options trading. The National Stock Exchange (NSE) and the United Stock Exchange (USE) have received the regulator's approval for launching options trading on the rupee-dollar spot rate. According to market participants, the move will boost the turnover of exchange-traded currency derivatives, where only futures trading is allowed at present. Options will provide an additional tool to hedge against currency volatility. Apart from NSE and USE, the MCX stock exchange (MCXSX) offers currency futures.

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