NSE and BSE will allow trading in EUR-USD, GBP-USD and USD-JPY Cross Currency Derivatives from February 27th. The market timings for new contracts will be from 9 AM to 7.30 PM. The exchanges will also offer options on EUR-INR, GBP-INR and JPY-INR. These option contracts will trade from 9:00 a.m. to 5:00 p.m.
Brief contract specifications
|Unit of trading||1 - 1 unit denotes||1 - 1 unit denotes 1000||1 - 1 unit denotes|
|1000 EUR||1000 GBP||1000 USD|
|Underlying / Order||The contract would||The contract would be||The contract would|
|Quotation||be quoted in USD terms. The outstanding positions would be in EURO terms||quoted in USD terms.||be quoted in JPY terms. The outstanding positions would be in USD terms.|
|The outstanding positions would be in GBP terms.|
For the detailed contract, specifications of cross-currency derivatives check this circular.
For the detailed contract, specifications of EUR-INR, GBP-INR and JPY-INR option contracts check this circular.
Here is a presentation on Cross Currency Derivatives by NSE.