DJ: United Stock Exchange Of India Gets Regulatory OK For Currency Futures
MUMBAI -(Dow Jones)- United Stock Exchange of India Ltd. said Tuesday it has received market regulator Securities and Exchange Board of India's final approval to begin operations in currency futures.
The exchange will be able to conduct transactions in four currency pairs--U.S. dollar-Indian rupee, euro-rupee, pound sterling-rupee and Japanese yen-rupee.
The exchange said it has received more than 150 applications for membership.
Bombay Stock Exchange, the largest shareholder of United Stock Exchange, has already suspended its currency-futures operations.
Currently, National Stock Exchange of India Ltd. and MCX Stock Exchange Ltd. offer currency-futures trading.
