Bombay Stock Exchange (BSE) will launch Weekly Dollar – Rupee Futures & Options Contracts on July 30, 2018, a move that will help increase liquidity in the market. The announcement comes after the exchange received markets regulator Sebi’s approval for introducing weekly contracts on USDINR Futures & Options. Currently, Monthly contract are available on all approved currency pairs including USDINR currency pair.
Ashishkumar Chauhan, MD & CEO, BSE
said, “The introduction of new products will allow entities like corporates, foreign portfolio investors and non-resident Indians to participate and to take positions in the exchange traded currency derivatives markets. The move will help also companies to hedge their forex exposure and increase liquidity in the markets”.
For Weekly USDINR futures & Options contracts, 11 weekly expiry contracts excluding the expiry week of monthly contract shall be available for trading. The last trading day for the contracts shall be every Friday of the week except for expiry week of monthly contract and the final settlement price of the contracts shall be computed using the RBI reference rate for USD-INR on the last trading day of the contract.
Since last year, BSE is acknowledged as the leader in currency derivatives, both in terms turnover and market share. BSE Currency Derivative daily average turnover in July is Rs29,725cr with market share of approximate 60%. BSE offers the fastest technology with lowest transaction charges in all its trading segments.