A day after CEO quits, business as usual at BSE

Markets Bureau
Posted: 2008-08-09 00:02:46+05:30 IST
Updated: Aug 09, 2008 at 0002 hrs IST

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transparency, efficient price discovery, enable better counterparty credit risk management, wider participation, trading of a standardised product and reduced transaction costs.”

Recognising that the worldwide average daily turnover in exchange traded currency derivatives has grown at a CAGR of approximately 23.2% as compared to the CAGR of 10.3% in the OTC currency derivatives market (the domestic OTC volume in Currency Derivatives is approximately $24 billion per day), the exchange is exploring strategic arrangements with certain established entities in the forex market. This, it is expected, would lend reach, domain expertise and an active participation to this evolving segment, it further said. Sources expressed optimism with respect to success of the new segment as it is in sync with the psyche of the Indian investor. A top BSE official said, “If you look to the recent past, any product where futures trading is allowed has been well accepted by the Indian investors compared to debt products. We saw hardly any interest when the retail debt segment was launched. In case of equity and index derivatives products, the index futures and stock options are the products that are generating huge interest. Currency futures may also meet the same level of interest and success.”...