• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Kamal Narang

Mr Ravi Narain (left), CEO & MD, National Stock Exchange, with Dr L.K. Malhotra, President, PHDCCI, addressing the businessmen on “The changing face of the exchange industry,” in the capital on Tuesday. –

Our Bureau

New Delhi, Sept. 9

The National Stock Exchange (NSE) hopes to launch currency futures in certain currencies other than the US dollar in the coming days, a top official of the exchange said here on Tuesday. Last month, exchange traded currency futures were launched in the US dollar at the NSE. The currency future contracts are traded and settled in Indian rupees.

“Typically, if you get away from US dollar, there are 3-4 currencies in which India has strong underlying trade. These are euro, Japanese yen, pound sterling and Chinese Yuan. In some of these, we hope to offer currency futures as and when the regulator allows it,” Mr Ravi Narain, Chief Executive Officer (CEO) and Managing Director of NSE, told reporters here.

He was in the capital to give a lecture at the PHD Chamber of Commerce and Industry (PHDCCI) on “The Changing Face of the Exchange Industry.”

To a question from reporters on whether the NSE would also go in for interest rate futures as and when they are permitted, Mr Narain replied “most certainly”.

On whether the NSE plans to launch a trading product linked to the “India VIX”, which is a volatility index based on the Nifty 50 index option prices, Mr Narain said that “eventually” such a product would be launched. “We are not in a hurry. We want everyone to be comfortable with the volatility index and understand what it is all about…, ” he said. Mr Narain also said that the NSE was not looking at an initial public offering now.

More Stories on : Derivatives Markets | Forex | Stock Exchanges

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line