The United Stock Exchange of India (USE), promoted by state-run MMTC and brokerage firm Jaypee Capital, will start trading in currency derivatives from July this year. “USE will launch currency futures in July,” MMTC CMD Sanjiv Batra said.
USE will be the fourth exchange after NSE, BSE and MCX-SX to introduce currency futures. Besides MMTC and Jaypee Capital, the exchange is also promoted by 11 banks, including the Federal Bank.
Trading in currency derivatives, which started in August last year, has been good with daily volumes now hitting the Rs 2,000-crore mark. USE has received in-principal approval from the market regulator for commencing contracts in currency derivatives.
Batra also informed that the International Multi-Commodity Exchange, promoted by MMTC and Indiabulls Financial Services, was likely to start operations by June-end.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app