Stock market & Finance

Today Finance minister Mr P. Chidambaram inaugurated currency futures trading in National Stock Exchange of India (NSE) . Now National Stock Exchange has received first mover advantage for mandatory approval from the Securities and Exchange Board of India .

As we know that currency trading market has much more potential comparing to stock markets . A platform of currency trading futures globally is much bigger than stock market and now currency traders from india commodity market have also get chance to enter in trading currencies .Here are some brief points given by utvi.com to know better about today's announcements on currency future trading :-

* Currency futures launched on the National Stock Exchange of India.
* 300 members will be eligible to participate in currency futures trading
* Contract in quoted and settled in INR
* Maturity of contract not to exceed 12 months
* Futures date and price is fixed on purchase date
* Allows an investor to hedge against forex risks
* Every trading member participating in currency derivatives during the above period shall be required to make a lump-sum contribution of Rs 500 towards an Investor Protection Fund.
* Only US dollar-Indian rupee contracts would be allowed. The contract size will be of 1,000 US dollars and the tick size (minimum price fluctuation) will be 0.25 paise.
* The prices in currency derivatives segment shall be displayed, traded and reported up to the fourth decimal place instead of up to two.

I was just watching utvi channel to track my stocks and saw this news and thopught i should this with you . If I will get more info about it than i will update you by latest posts again .