VSE-SSL ready for launching currency derivatives

The Stock Services Limited of Vadodara Stock Exchange (VSE-SSL) is ready for launching currency derivatives once its members clear the required examination to be conducted by National Institute of Securities Markets (NISM), its Managing Director Deepak Raval said.

"The VSE-SSL has completed creation of all the required facilities and the formalities about a month ago, Raval said. Atleast 12 members of VSE have expressed their desire in taking part in the first ever launching of currency derivatives operations in the Vadodara Stock Exchange, he said.

VSE is a corporate member of BSE, NSE,and MCX-SX and presently has been operating in Cash and F & O segment. The annual turnover is Rs 22,000 crore, Raval said.

"Before deciding to launching the operations of currency derivatives VSE had organised seminars and workshops for its members for creating awareness and educating them on it," he said.

"The  currency derivatives is  not for the retail investors, it is only for the importers, exporters, banks and others who can benefit through hedging operations, Raval said.

The VSE-SSL had started operations of NSE F&O from May 20, 2009 after getting approval from Sebi for NSE future and option segment and MCX-SC currency derivatives segment, Raval said.