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SEBI to introduce more currency derivatives products
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SME Times News Bureau | 17 Apr, 2010
The market regulator, Securities and Exchange Board of India (SEBI), is planning to introduce more currency derivatives products, beginning with options, to give a wider choice to investors, said C B Bhave, Chairman SEBI at a CII conference on financial markets.
"We will look into other kinds of derivatives (in currency trading), options to begin with, in order to offer increased products that are available," said Bhave.
Bhave said SEBI has launched currency derivatives in India in August, 2008, a month before the global financial crisis hit the world.
"Today, currency volumes on any given day are in the range of 6-7 billion dollars and this is when only one pair was allowed three months back and just in futures," Bhave said.
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