The Hindu Business Line : MCX mock currency futures trading fetches Rs 125 cr

Mumbai, Sept 2 MCX Stock Exchange (MSE) has registered a turnover of Rs 125 crore with 30 members participating in the mock trading of currency futures on Tuesday, the company said in a press release.

To start with, MSE would trade currency futures on dollar-rupee ($-INR) and launch more currency pairs subsequently with prior regulatory approval. The contract size of the currency futures contract is $1000. The contracts shall be settled in cash in rupees and each contract will have a 12-month maturity period, MSE said.

Mr Joseph Massey, Managing Director, MSE said, “All transactions on an exchange are executed at price time priority, ensuring that the best price is available to all categories of market participants irrespective of their size.”

More than 300 members expressed interest in currency futures trading on MSE including banks, commodity brokers (MCX and NCDEX), exporters, importers, stock brokers (NSE & BSE members) and foreign exchange dealers registered through Foreign Exchange Dealers Association of India (FEDAI).

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