Currency future and trading in india accounts

(ii) Only persons resident in India may purchase or sell currency futures to hedge an exposure to foreign exchange rate risk or otherwise. Features of Currency Futures, standardized currency futures shall have the following features: a. Membership for both trading and clearing, in the currency futures market shall be subject to the guidelines issued by the sebi. Ii. Banks authorized by the Reserve Bank of India under section 10 of the Foreign Exchange Management Act, 1999 as AD Category - I bank are permitted to become trading and clearing members of. Similarly, for participation by other regulated entities, concurrence from their respective regulators should be obtained. Membership i. The membership of the currency futures market of a recognised stock exchange shall be separate from the membership of the equity derivative segment or the cash segment.

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