MCX – SX records highest turnover of Rs107.98bn for currency derivatives

Currency futures trading was launched in India on 29th Aug’08. Volumes have grown exponentially after all exchanges went live. After MCX-SX started operations, the market has witnessed rapid growth.

Oct 08, 2009 09:10 IST India Infoline News Service

MCX-SX used its approach of orderly market development to bridge the gap soon enough and become market leaders with over 50% market share.

Backed by an extensive research MCX-SX started educating market participants for the currency markets as this market never existed in India. It launched the first handbook on currency futures. The content was completely customized to Indian regulatory environment. Along with this, it aligned with export – import associations nationwide and started engaging physical market participants. The tie up with the Federation of Indian Exporters Organisation, (FIEO), Assocham, Garment Exporters Association of Rajasthan, etc enabled them to get broad based participation from over 475 centers across India.

Besides superior quality of service to its members MCX-SX was the first exchange to reduce the gap for collections of M2M to same day and remove obsolete technology of sun outage.

During the year, the regulators have recognized the growth witnessed and introduced proactive liberalization by way of enhancing the limits of market participants signaling their commitment to development of the market.

The Future of Indian currency markets will witness introduction of new contracts in INR – EURO, increased limits for market participants and extended market hours to allow hedging during Europe and US market hours.

Figure as on Sept 17




Total Turnover  ( Rs. Crore)


Average Daily Turnover (Rs. Crore)


Market Share (%) in terms of turnover


Total Volumes (no. of Lots)


Average Daily Volume (no. of Lots)


Open Interest (as on last day of the month)


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