Currency Derivatives

An Overview
 Introduction
• Trading in the segment commenced from August 29, 2008.

• The most liquid market in the world.

• No TOT & STT as of now.

• TWS available on MCX-SX,NSE & USE.

• The prices in Currency Derivatives segment shall be displayed,

traded and reported with 4 decimal places instead of 2. For
example, ` 42.50 shall be displayed everywhere as 42.5000.
Available Currency Pairs on Indian Exchanges.

USDINR (UNITED STATES DOLLAR)

EUROINR (EURO)
GBPINR (GREAT BRITAIN POUND)
JPYINR (JAPANESE YEN)

NOTE : INR stands for INDIAN NATIONAL

RUPEE.
Contract USD-INR EUR-INR GBP-INR JPY-INR
Description

Lot Size 1000 1000 1000 100000

Trade Timing 09:00 HRS-17:00 09:00 HRS-17:00 09:00 HRS-17:00 09:00 HRS-17:00
Mon-Fri HRS HRS HRS HRS

Expiry 2 working days 2 working days 2 working days 2 working days

before the last before the last before the last before the last
working day of working day of the working day of the working day of
the month @ 12 month @ 12 month @ 12 the month @ 12
Noon. Noon. Noon. Noon.

Final settlement Last working day Last working day Last working day Last working day
of the month of the month of the month of the month
Contract USD-INR EUR-INR GBP-INR JPY-INR
Description

Tick Size 0.0025 0.0025 0.0025 0.0025

Margin 3-4% of contract 3-4% of contract 3-4% of contract 3-4% of contract

value. value. value. value.
Quantity 10000 Lots. 10000 Lots. 10000 Lots. 10000 Lots.
Freeze

Price Range +/- 3% +/- 3% +/- 3% +/- 3%

Trading Cycle 12 Months. 12 Months. 12 Months. 12 Months.

Market Participants
•Banks.
•Commercial Companies.
•Central Banks.
•Hedge Funds as speculators.
•Investment Management Firms.
•Retail Foreign Exchange Brokers.
•Non-Bank Foreign Exchange Companies.
•Money Transfer/Remittance Companies.
Foreign Exchange turnover

3500
3000
2500
2000 Turnover
1500 (US$
BLN)
1000
500
0
1988 1998 2007
Trading Volume Comparison
NIFTY VS USDINR VS GOLD ( Figures in Cr.)

Trade Date Nifty USDINR GOLD

07-03-2011 5145.78 16415.28 8064.86
04-03-2011 6522.01 14779.41 7537.70
03-03-2011 8848.97 19272.25 10405.04

01-03-2011 7411.09 16953.99 6870.77

28-02-2011 10276.18 19408.73 7611.17

25-02-2011 7679.23 16850.83 6810.95

24-02-2011 11011.16 15289.64 7807.75

23-02-2011 7203.80 16560.291 7158.97

22-02-2011 7383.12 17705.71 8002.31

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