The Securities and Exchange Board of India (Sebi) today considered applications by the National Stock Exchange (NSE) and the Multi Commodity Exchange (MCX) for creating a platform for exchange traded currency futures. It also took on board the report on exchange traded currency futures.
The report has been prepared by the joint Standing Technical Committee of the Reserve Bank of India (RBI) and Sebi. The creation of a platform for exchange traded currency futures will pave the way for trading of currency derivatives on an exchange platform. Currently such instruments are traded on over the counter (OTC) by banks.
The Sebi board, which met in Mumbai, also approved the draft amendment to the Sebi (Stock brokers and Sub-brokers) Regulations, 1992.
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