USE to conduct mock trading for currency options on October 16th

After receiving the approval from SEBI to commence trading in currency options, United Stock Exchange of India (USE), India’s newest stock exchange would conduct mock trading on Saturday, October 16th.

Commenting on the new development, Mr. TS Narayanasami, MD & CEO of United Stock Exchange said, “We would like to thank SEBI for granting us permission for trading in the currency options segment. This mock trading session will help our members understand and operate the software in the existing system.”

The mock trading market would open at 10:30 AM and continue till 12:30 PM. The circular for the same is on USE website (www.useindia.com) giving out details regarding the software requirements, hardware prerequisites, network prerequisites etc.      

Several members have already shown interest in the upcoming mock trading which will also help USE gain valuable feedback and comments on the operational capability of its existing system.  

About United Stock Exchange of India:
United Stock Exchange of India Limited (USE) is India’s newest stock exchange for currency derivatives. The exchange offers a better platform to corporates and SMEs for managing forex risk as spread rates in an exchange are better and it does not involve any counter party risk.

USE has a unique Public-Private partnership with equity participation by both PSUs and the private sector banks. All 21 Indian public sector banks have promoted United Stock Exchange by investing in equity which include Allahabad Bank, Andhra Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Corporation Bank, Dena Bank, IDBI Bank, Indian Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab and Sind Bank, Punjab National Bank, State Bank of India, Syndicate Bank, UCO Bank, Union Bank of India, United Bank of India, Vijaya Bank. In addition to public sector banks, 5 private sector banks have also an equity participation in USE; they include Axis Bank, Federal Bank, HDFC Bank, ICICI Bank and J&K Bank.

Apart from banks, Jaypee Capital, MMTC and Indian Potash have also invested in United Stock Exchange to build an institution that is on its way to becoming an enduring symbol of India’s modern financial markets.

Bombay Stock Exchange is also a strategic partner with USE as it holds a 15% stake and all its members are connected to the new USE platform.