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NSE has stated in its circular that the Exchange has decided not to levy the transaction charges to increase the participation of investors in cross currency F & O contracts. According to the exchange, cross-currency contracts will not have to pay any transaction charges on the trade between February 27 and May 31, 2018.
There
is good news for investors trading in cross currency derivatives. National
Stock Exchange (NSE), the country's leading exchange, has decided not to take
transaction charges from investors for trading in cross-currency derivatives
for 3 months. The purpose of the exchange is to increase the share of
investors in such contracts.
Trade will start from 9 am to 7.30 pm
BSE
and NSE have launched Futures and Options trading in Cross Currency from
Tuesday. These contracts will be allowed to do business from 9 am to 7.30
pm.
NSE
says that this decision will help in increasing exposure to foreign currency
exchanges and liquidity in currency contracts will increase.
Transaction charge
will not be given for 3 months
NSE has stated in its circular that the Exchange has decided not to levy the transaction charges to increase the participation of investors in cross currency F & O contracts. According to the exchange, cross-currency contracts will not have to pay any transaction charges on the trade between February 27 and May 31, 2018.
In the Past week SEBI has approved
cross-currency
- In
the past week, SEBI had approved cross-currency derivatives trading in pairs
such as Euro (EUR) - US Dollar (USD), Pound Sterling (GBP) -USD and USD-
Japanese Yen (JPY). In addition to the existing USD-INR, the exchange has
got permission to trade in EUR-INR, GBP-INR and JPY-INR.
- In
the new contracts, stock brokers, domestic institutional investors, FPIs and
clients will be allowed to take position in the business of cross-currency
futures and options contracts.
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