The Shah of Mahindra
Anish Shah, MD of Mahindra group, on his life and times and on enhancing empowerment and diversity in the ...
The Metropolitan Stock Exchange of India (MSEI) had received SEBI’s approval to launch a weekly interest rate futures contract, and plans to come out with these contracts after giving one month’s notice to trading members, clearing corporations and other exchanges.
MSEI has also received permission to launch weekly futures contracts on seven pairs of currencies, including USD-INR, EUR-INR, GBP-INR, JPY-INR, EUR-USD, GBP-USD and USD-JPY, and weekly options contracts on these currencies, except for USD-INR, which is already traded on the exchange platform.
In a letter to the exchange, SEBI said based on the submissions made by the MSEI and further related correspondence, it is informed that the proposal to introduce weekly contracts on interest rate futures has been acceded to.
The clearing corporation should interpose itself between both legs of every trade, becoming the counter-party to both or alternatively provide unconditional guarantee for settlement of all trades, it said.
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