EUR-USD, GBP-USD and USD-JPY Cross Currency Derivatives to start trading from February 27th


#1

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

Symbol EURUSD GBPUSD USDJPY
Market Type N N N
Instrument Type FUTCUR/OPTCUR FUTCUR/OPTCUR FUTCUR/OPTCUR
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.
Tick size 0.0001 0.0001 0.01

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.


Cross currency futures and options
#4

This is great but whatever happened to protecting Indian forex reserve?


#5

Need to see the liquidity.


#6

What about Margin requirements @Bhuvanesh??


#7

Bhai @Bhuvanesh
Can’t you avoid closing mis before 7:20 at least?


#8

This is bound to happen. The companies need to hedge currency risk.

This just simplifies and reduces the number of positions required for hedging. This should have been done a long long time ago.


#9

Is only for cross currency, other INR pairs contract trading time closes at 5PM


#10

We’ll keep you posted about this.


#11

Ya, only the cross currency pairs will trade until 7.30 PM.


#12

Will Zerodha allow Bracket order for cross currency trading


Cross currency futures and options
#13

NSE is starting cross currency futures and options trading tomorrow… will it be available for trading on kite android app??


#14

This is very good step for encouraging :rofl: traders to participate in cross currency trading
In order to encourage active participation in Cross Currency Futures and Options contracts, it has been decided that no transaction charges will be levied on the trades done in Cross Currency Futures and Options contracts in the Currency Derivatives segment of the Exchange from February 27, 2018 till May 31, 2018


#15

Unable to trade options, why?


#16

I think this will be fiasco!
I can’t even see anything in kite


#17

Will allow in couple of days.


#19

Could you load Futures?


#20

Yes I can see fut contracts


#21

How did u load them? Are you using pi?
I can’t see them in kite mobile!
Can you trade futs?


#22

I can see them in kite mobile, didn’t try to trade Fut though


#23

This app seems like for iPhone…
Android kite doesn’t seem to have it… Hmm