Currency Futures Trading on the NSE and MCX-SX. Currency trading in four pairs:
We are also offering Currency Options in the USD/INR pair on the NSE. Trading in Currency Futures and Options is regulated by RBI and SEBI jointly. Any resident Indian, individual, bank or corporation is allowed to participate.
Exchange traded future contracts are favored over OTC markets because there is greater Price Transparency for Buying and Selling Price as well Real-time price access made available from any location in India on internet. As compared to OTC markets, very low margins are required and a higher leverage provided.
Benefit of extended market hours, from 9am to 5pm, giving rise to increased trading opportunities. Another benefit of Currency Derivatives over Equities or commodities is that there no Exchange charges or STT charges as of now.
|Symbol||USDINR ($)||EURINR (€)||GBPINR (£)||JPYINR (¥)|
|Unit of trading||1 (1 unit denotes 1000 USD)||1 (1 unit denotes 1000 EURO)||1 (1 unit denotes 1000 POUND STERLING)||1 (1 unit denotes 100000 YEN)|
|Underlying||USD The exchange rate in Indian Rupees for a US Dollar||EURO The exchange rate in Indian Rupees for a EURO||POUND STERLING The exchange rate in Indian Rupees for a POUND STERLING||JPY The exchange rate in Indian Rupees for a JPY|
|Tick size||`0.25 paise or INR 0.0025|
|Trading hours||Monday to Friday - 9:00 a.m. to 5:00 p.m.|
|Contract trading cycle||12 month trading cycle|
|Last trading day||Two working days prior to the last business day of the expiry month at 12 noon|
|Final settlement day||Last working day (excluding Saturdays) of the expiry month. The last working day will be the same as that for Interbank Settlements in Mumbai|
|Minimum initial margin||5%||5%||5%||5%|
|Settlement||Daily settlement: T+ 1, Final settlement: T + 2|
|Mode of settlement||Cash settled in Indian Rupees|
|Daily settlement price (DSP)||DSP shall be calculated on the basis of the last half an hour weighted average price of such contract or such other price as may be decided by the relevant authority from time to time|
|Final settlement price||Exchange rate published by the Reserve Bank in its Press Release captioned RBI|
|(FSP)||Reference Rate for US$ and Euro (RBI reference rate)|