Both NSE & BSE received approval from SEBI to launch Cross Currency Derivative Pairs EURUSD, GBPUSD, USDJPY. The trade timing in pair currency contracts would be available between 9:00 AM and 7:30 PM.
For futures contracts in cross-currencies, 12 standardised monthly contracts will be made available to investors and the contracts will be settled in cash (rupees).
Market Participants like retail traders, corporates , NRIs, stock brokers, domestic institutional investors, FPIs are allowed to take positions in the exchange traded cross-currency futures and option contracts. This measure gives the participants to hedge against any direct forex exposure and also brings liquidity from OTC counter to local exchanges.
Additionally, NSE and BSE has also received permission to introduce option on EUR-INR. GBP-INR and JPY-INR in addition to existing USD-INR.
BSE to launch cross-currency derivatives on Feb 27, 2018. Expiry day for the forex pair contracts shall be two working days prior to the last working day of the expiry month at 12:30 pm. In options contracts, three serial monthly contracts followed by three quarterly contracts will be launched.
Hi sir can you suggest a forex broker for indian traders who are willing to trade pairs like EURUSD..
Try with interactivebrokers