United Stock Exchange (USE) would launch its operations in currency futures on August 31, Managing Director and Chief Executive Officer T S Narayanasami said on Monday. USE will be the third exchange to start currency trading after MCX-SX and National Stock Exchange.
The Bombay Stock Exchange holds 15 per cent stake in USE. The exchange has 32 institutional shareholders, including 21 public sector banks and six private lenders, including ICICI Bank, HDFC Bank, Axis Bank, Federal Bank, Yes Bank and J&K Bank. USE will begin trading in four currency pairs including Dollar-Rupee, Euro-Rupee, Yen-Rupee and GBP (British Pound)-Rupee.