The Ahmedabad Stock Exchange (ASE) and Saurashtra Kutch Stock Exchange have received permission from the Securities and Exchange Board of India (Sebi) to trade in futures and options (F&O) and currency derivatives through their subsidiaries.
Confirming the development, a senior official of ASE said that its subsidiary ASE Capital has received permission for F&O trading on the National Stock Exchange (NSE) platform and currency futures on the Multi Commodity Exchange platform. Sebi nod for currency futures trading on the NSE is awaited, he added.
“Our daily average turnover is expected to rise from Rs 70-80 crore to Rs 300-400 crore with F&O in place. Currency is a new instrument but we are sure it will increase our turnover further,” the official said.
Saurashtra Kutch Stock Exchange Securities (SKSESL), a subsidiary of SKSE, has received permission to trade in F&O and currency derivatives on NSE.
Ashok Koyanim, CEO of SKSE, said, “It is a landmark for us and we hope to get huge business from F&O and currency derivatives segments.” SKSESL is targeting Rs 700-800 crore business from both segments by end of the next financial year.