India's capital market regulator, Securities and Exchange Board of India (SEBI) and banking regulator Reserve Bank of India (RBI) has give their approval to the Multi Commodity Exchange Ltd to launch currency options on its platform.
The company received the approval from Sebi-RBI after fours since it launched currency derivatives trading platform. The company had a turnover of about Rs 13,500 crore in the currency derivatives segment.
It has a market share of 43.6 per cent and the NSE and United Stock Exchange (USE) are the only two other stock exchanges that offer the service. MCX-SX is controlled by Multi Commodity Exchange (MCX), the country's biggest commodity bourse.
Managing Director and Chief Executive Officer (CEO), Mr Joseph Massey had said in July that MCX-SX will be made operational in the coming few months. The company has already received its approval from SEBI for SX to deal in equity and equity futures & options, interest rate futures and wholesale debt segments.
MCX-SX said that it had run a mock trading session on 4 August 2012 and will soon announce the date of live trading of Currency Options.