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

Our Bureau

Kochi, Dec. 12 Three months after the launch of the currency futures segment on the National Stock Exchange, the nascent sector is witnessing significant growth in volumes and number of participants.

From a modest 65,978 contracts valued at Rs 291.04 crore as on August 29, the day on which currency futures was launched, it had grown to an all-time-high of 2,71,392 contracts valued at Rs 1,372.02 crore on November 20, Geojit Financial Services Ltd said. Over one lakh contracts are being daily traded on the NSE.

To nurture interest in currency futures and address the needs of the participants, Geojit conducted over 100 seminars in association with NSE and other trade and industry bodies across major metros and cities such as New Delhi, Mumbai, Chennai, Bangalore, Hyderabad, Pune, Ahmedabad, Lucknow, Ludhiana, Nasik and Mangalore. Another 45 seminars are in the pipeline and would be conducted by January 2009.

The company has also opened more than 4,000 currency derivative accounts to date. Most of its currency derivatives’ customers consist of investors who are looking for instruments that allow them better returns in a market where equities remain volatile and are often hard to predict. Also, exporters/importers are active participants in currency derivatives as it helps to cover their positions and mitigate the risk, a release issued here said.

More Stories on : Forex | Derivatives Markets

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