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Mumbai, June 20 The SEBI board on Friday decided on the introduction of Exchange Traded Currency Futures Market.

A SEBI release said the board took note of the report of the RBI-SEBI Standing Technical Committee on Exchange Traded Currency Futures.

It also noted that applications had been received from two exchanges — the National Stock Exchange of India Ltd and the Multi Commodity Exchange India Ltd — for starting exchange traded currency futures platform

It also approved the draft amendment to the SEBI (Stock Brokers and Sub Brokers) Regulations, 1992, providing for registration of Trading and Clearing Members of the currency derivative segment of a stock exchange.

The board considered the system audit report of PricewaterhouseCoopers regarding inter-depository transfer systems between NSDL and CDSL.

The board also noted that with regard to the problems in inter-depository transfers witnessed on December 19, 2007, and January 8, 2008, two issues related to CDSL system, which had subsequently been rectified by CDSL.

The board approved the amendments to Regulation 32 of SEBI (Depositories and Participants) Regulations, 1996, for doing away with the requirement of the depositories to ensure payments before effecting the transfer, in the demat system.

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